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Property
Management
HSI Management believes that the only true way to ensure that
assets achieve optimum performance is through successful execution.
HSI is committed to hiring individuals who possess the exceptional
strengths necessary to meet the owner’s goals and objectives.
Our team of highly trained and carefully selected professionals
is empowered to make sound business decisions while the core
management team functions as a support network for on-site associates.
Our professionals have earned national designations from respected
organizations such as Institute of Real Estate Management, National
Apartment Association, Building Owners and Managers and other
various associations.
HSI was one of the first companies in Georgia to obtain the
most respected designation of Accredited Management Organization
awarded by the Institute of Real Estate Management. This is
the highest designation given to companies that have met stringent
standards of experience, financial stability, integrity and
ethics.
Such a diverse spectrum of talent allows our HSI team to focus
our collaborative efforts on identifying and implementing a
strategy tailored to each client’s specific needs. Critical
analysis and clear communication are required when orchestrating
each property’s business plan, as each asset is unique
and consists of its own set of challenges and opportunities.
Applying our in-depth market knowledge, we also help clients
change course, or fine-tune their plans, should market conditions
change or new opportunities arise. Following our guiding principles
of Plan, Execute and Deliver, HSI will:
- PLAN by using a sound fiscal structure
and maintaining our fiduciary responsibilities to the residents,
owners, investors, and regulators we serve.
- EXECUTE according to plan by balancing
the operational needs of the property and its residents,
while remaining fiscally responsible and practicing the
fundamentals of asset management - capital preservation,
income generation, and capital growth.
- DELIVER quality service, well-maintained
housing and financial stability; realizing the property’s
economic and social potential.
HSI has significant experience managing properties financed
through a variety of programs, including Fannie Mae, HUD, Rural
Development and conventional financing. Housing Systems, Inc.
currently owns properties that are not only conventionally financed,
but also are tax-credit or bond-financed properties.
As mentioned previously, we also provide property management
services for a diverse group of third-party owners and investors.
As experienced managers, we treat each property as if it were
our own and are able to take a highly practical and hands-on
approach to these engagements; combining our operational, financial,
and marketing expertise to achieve each client’s goals.
General
Objectives:
- Administers and monitors the financial transactions necessary
for the operation of the property.
- Provides safety, security, satisfaction and a general
feeling of well-being for the residents occupying the assigned
building.
- Maintains the building to the standard of the owner(s).
- Provides professional and timely service for the people
working in or using the facility.
- Maintains a formal and harmonious relationship with the
residents and visitors to the building.
- Attends monthly meetings required by the owner(s).
- Arranges for financing in case of need for major capital
repairs.
- Ensuring that preventative, corrective and mechanical
maintenance, building systems, custodial care, refurbishment,
and renovations are handled in a cost-effective and professional
manner.
Specific Responsibilities:
Administrative:
- Hires, terminates and supervises all property employees
as required for the proper repair, restoration, operation,
and maintenance of the property.
- Collects all rent and common element fees from the residents.
- Disburses expenses related to the property.
- Marketing and leasing units as well as handles all evictions.
- Maintains all financial and maintenance records, agreements,
contracts, etc., required for the management, supervision,
and control of the property.
- Reports on a monthly basis to the owners on all aspects
relating to the operation of the property, including summary
financial statements and analysis, reports on non-recurring
construction, renovations, repairs, etc., which affect the
general management and operation of the property. (See sample
reports)
- Maintains and controls all banking in order to provide
sound operating funds.
Maintenance:
- Maintenance of a complete inventory of all mechanical
equipment.
- Managing work orders and negotiating yearly maintenance
contracts, balancing quality service with competitive pricing.
- Protecting the owner's investment in the property and
ensuring that the physical structure of the buildings is
well maintained.
- Overseeing on-site superintendent's responsibilities and
carrying out regular daily/weekly and scheduled inspections.
- On-Call Duty available based on the requirements of the
properties.
- Employing preventative maintenance procedures and performing
inspections regularly to identify or solve maintenance problems
before more significant problems develop.
By providing state-of-the art accounting and property management
systems, offering full-range reporting and analysis, and leveraging
our corporate resources and partnerships, HSI is prepared to
provide and deliver these property management services to your
property. Our goal is to realize the property’s economic
and social potential, creating a new benchmark within the community
and setting the standard for quality housing.
We look forward to serving your property and proving our value.
Accounting and Reporting
HSI manages both conventional and affordable multi-family housing
properties, all of which have individual needs and reporting
requirements. These requirements have afforded HSI the opportunity
to become skilled in a number of software packages. Currently,
HSI operates on-site with either i-CAMTM or OneSite.
HSI uses ACCPAC as our accounting package. It is capable of
producing balance sheets, general ledgers, income statements,
budgets, projections and various reports for analysis.
In conjunction with accounting reporting, HSI also provides
Management‘s Monthly Owner’s Reports that summarize
the property’s operations for the given month. These reports
include property information, leasing and renewal information,
market information, property improvements completed and income
and expense variance explanations.
Asset Management & Property Repositioning
Housing Systems, Inc. provides asset management, investment
management and reporting services to its equity partners, real
estate owned portfolios and third party clients. Through the
efforts of our Development Team, our primary objective is to
represent the owner on a day-to-day basis, and communicate clearly
the established goals and objectives. We offer:
- Oversight, Analysis & Reporting of Construction Process
- Direct Management of Rehabilitation Programs
- Budget Review Approvals
- Finance Management & Analysis
- Income/Expense Management
- Investor Management & Reporting
- Acquisition/Disposition Due Diligence Analysis
- Associated Legal Processes
Services include but are not limited to:
- Preparation and Implementation of an Annual Business Plan
- Operating Budget Reviews, Analysis, Approval & Re-Forecasting
- Analysis of Monthly Operating Statements
- Analysis of Weekly Occupancy Reports
- Documentation and Communication of Loan Agreement, Partnership
Agreement & Operating Agreement
- Tracking & Coordinating Interest Rate Reductions,
Escrow Releases & Other Lender Requirements
- Disposition & Refinance Analysis & Recommendations
- Analysis & Monitoring of Insurance Bid & Claim
Process
Compliance & Other Specialty Services
HSI’s Compliance Team possesses the technical expertise
in key service areas for specialized housing programs. Our services
include:
- Training
- Consulting
- Affordable Housing (HUD Section 8 and 236, LIHTC, Private
Activity Tax Exempt Bond and 501c (3) Tax Exempt Bonds)
In order to maintain the highest level of professionalism, HSI
implements a variety of training programs. Every step is carefully
taken to keep our employees on the cutting-edge of performance
and industry standards. Employee training classes, shopping
reports and industry conferences are just a few of the ways
we ensure our associates stay in that top tier.
HSI has a long history of providing consulting services, including
staffing recommendations, review of work flow patterns and preparation
of policies and training procedures. On many occasions, our
team of experts has been called upon to revise policy manuals
and customize training programs that are specific for each property’s
compliance needs.
HSI can assist our clients with a full range of affordable housing
related issues, such as:
Section 8 Contracts/HUD Insured
- Renewals
- Management and Occupancy Reviews
- Management Reviews
- REAC Inspections
- Rent Comparability Studies
- Opt outs
- Transfers of Physical Assets (TPAs)
- Section 8 Contract assumptions
- Preparing MIO plans
Rent Increase Applications
- Budget Based
- AAFs, including special adjustments
- OCAFs
“Troubled Projects”
- REAC inspections
- Management Reviews
- Work outs
Other State and Local Agency Compliance Reporting
- LIHTC/Tax Exempt Bond Compliance
- LIHTC Investor Reporting
- Resident Acquisition and Rehabilitation Income Certification
(LIHTC)
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