PPA Real Estate Management, LLC (PPA REM) is a privately held full-service property management company, extending its management expertise into the areas of residential multifamily, affordable and student housing, in addition to commercial and mixed-use developments.
PPA REM concentrates on an owner-managed mentality management style, where its staff is dedicated to managing properties from an owner’s perspective. This owner’s perspective ensures that attention to investment performance, return on equity, and a value add approach are embedded into the DNA of PPA REM.
PPA REM maintains that it is this unique perspective that provides management services far superior to those offered by a traditional fee based property management companies, whereby third party owners can feel confident that their interests are not just maintained, but rather, managed in such a way that the property’s full potential may be realized.
PPA REM attributes its success to a team that has an in-depth knowledge of the residential and commercial building industry, and successful careers in the management of investment properties. PPA REM prides itself in its professional and high caliber team, which believes in a hands-on, personal, team approach to property management and recognizes the individual requirements of each property, tailoring its management program to meet those special needs. PPA REM offers outstanding customer service and executes its duties with an acute awareness of the needs and goals of its residents and users, as well as the needs and goals of its owners. Management services that focus on the investment and maximizing returns are at the heart of PPA REMs management philosophy. Proactive management and care for the community and its residents is a result of this core philosophy. Such a philosophy has also resulted in increased asset values and increased levels of comfort, service and resident retention in their managed communities.
PPA REM pro-actively addresses opportunities, problems and services to minimize loss and maximize gains. Investors must know the performance position of each asset at every stage. Informed partners are able to provide better feed back in making decisions that will have an impact on maximizing performance.
Developing an Asset Plan
PPA REM performs a physical assessment, staff evaluation and market survey to establish an asset baseline. Five P’s of our asset plan includes: People, Price, Product, Placement and Policy to insure that they are all functioning to meet performance criteria for return on investment.
The basis of the Asset Plan provides everyone with the information needed to understand their role in meeting the desired performance objectives. Strategic and financial timelines are aligned to create realistic projections.
The Asset or Business Plan is comprehensive and built on several key operational principals:
- Increasing Rents- Rent, traffic and rental patterns are analyzed by unit types, size and location to achieve the highest market rent for each unit.
- Leasing- The leasing staff is trained to ensure the highest closing ratios of new and renewed leases. They are given a list of units available for immediate occupancy to manage the unit inventory.
- Inventory/Vacancy Loss Units are incentivized by unit type, unit popularity and time on the market.
- Turnover- Unit inspections determine concerns and reveal how each resident is maintaining their unit.
- Maintenance-All service calls are tracked, by time of day, day of week and frequency to maintain an acceptable staffing level which improves efficiency.
- Expenses are managed by season, frequency and market comparison to ensure that we are giving competitive prices, decreasing wasteful expenditures, and precluding potential losses.
Performance Accountability
Performance is continually evaluated for improvements to ensure that client expectations are met by providing:
- Leasing Reports that track the leasing activity for traffic, traffic sources, closing ratios, pricing and market position.
- Monthly Reports to track the overall performance of the asset from income to expenses.
- Executive Narrative Overview/Variance Reports that outline performance variances and explain the adjustments to our strategy, which are necessary to meet performance objectives. This report also includes the maintenance performance evaluation.
- Quarterly Overviews by regional staff to measure performance benchmarks. A spot audit of reports and files is performed to maintain accuracy.
- Annual Audits of the leases and reports ensure reporting accuracy to make informed decisions that target and meet performance goals.
- Resident Feedback is used to provide the highest level of daily service. We use a resident survey card to make sure the resident’s voice is heard.
Maintenance Services
Maintenance teams are trained to be courteous, respectful and professional. They understand that their work directly impacts the residents and their living conditions; therefore they are consistently looking for ways to improve services and provide accommodating service hours.
Preventative maintenance is provided that meets or exceeds code requirements. While a certain amount of control is given to maintenance teams, supervision is maintained through:
- Computerized Maintenance Request
- 24-hour Resident Service Guarantee
- Authorized Vendor List
- Energy Audits
- Capital Evaluations
- Contract Approval
- Vendor Inspection Reports
Our regional managers inspect vacant unit inventory, move outs and common areas to ensure that all company policies and procedures are being adhered to.
PPA REM greatly appreciates its existing clients and welcomes the opportunity to manage new properties.For more information about PPA REM and to discuss how PPA REM may be able to help manage your property to its full potential, please contact us at (512) 501-3635 or info@pparem.com.
