Asset Management
Multifamily asset management for owners whose buildings are run by another company, or who want a second set of eyes on their own. We read the reports your manager sends, check them against the rent roll and the budget, and tell you what is working, what is not and what to ask for. We run apartments every day, so we know which questions get real answers.
Units
Monthly owner report
The problem
Most owners get a packet every month and no one to read it for them. Occupancy looks fine while delinquency creeps up, a renovation runs over budget one invoice at a time, and the budget is set by the same company it measures. Property management runs the building. Asset management makes sure it is run for your goals.
What we do
Each month we read the manager's financials, rent roll and delinquency report, and send you a short asset report: what changed, what it means and what we asked the manager about.
We review the annual budget before you approve it and track results against it through the year, line by line. When NOI moves, we find out why. Our guide on how to increase NOI shows the levers we look at.
We set the questions, follow up on the answers and hold the manager to the agreement. When the problem is the manager, we say so, and help you decide between a fix and a change.
We review capital projects and value-add scopes before money is spent, then check cost and rent results against the plan as the work goes.
We model the options from the real operating numbers and give you a recommendation with the reasoning. Our free hold, sell or refinance calculator shows the framework.
How it works
Your hold period, return targets, debt terms and what you want from the building. Asset management starts from your goals, not from what the manager reports.
We read the management agreement, the budget, the last twelve months of reports and the rent roll, and list what we would watch.
We read each report as it arrives, ask the manager what we need to and send you a short summary.
Budget changes, capital decisions, a conversation with the manager, or a recommendation to hold, sell or refinance.
The result
Due Diligence
Operational due diligence for apartment buyers: the rent roll, every lease and the T12 checked against each other, from documents, for deals anywhere.
Learn moreFinancial Modeling
The most in-depth financial modeling for multifamily: underwriting, pro formas and renovation scenarios built on real operating data.
Learn moreMultifamily Accounting
Books, payables, projections, bank reconciliations and trust accounts, with financials prepared for your tax accountant.
Learn moreWant someone reading your reports for you?
Tell us about the property and who manages it. We will tell you what we would watch first.
Questions
Insights
Ownership and InvestingProperty managers run the building. Asset managers run the investment. Here's who owns which decisions, where the two overlap, and what goes wrong when nobody covers the gap.
Ownership and InvestingNOI sets what your building is worth, so every dollar you add to it is worth far more than a dollar. Here is where the real gains hide, on both the income and expense sides.
OperationsEighteen property management KPIs in four groups: revenue, leasing, operations and financial. What each one is, how to calculate it and what it tells you about your apartments.
