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Services

HSI Management brings creative management solutions and results to property management; specializing in the acquisition, rehabilitation, and management of affordable multi-family housing properties in very diverse housing communities across the nation. HSI enjoys an unsurpassed reputation among multi-family owners for our strategic approach to property management. We understand our clients’ goals – capital preservation and income – and how to meet them through disciplined management.

HSI has also earned the reputation of being one of the most sought after experts in property repositioning. Through creative rehabilitation and sound management, our team of experts has made cost-effective improvements in order to achieve a higher return on investment. Such recognition does not happen by accident.

HSI relies on a team of professional resources, both internally and through partnership, that incorporates an aggressive financial acumen when it comes to debt restructuring and financing. This approach has been critical to HSI’s ability to not only successfully grow our own portfolio, but also attract new clients.

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Sound financial management is simply the beginning. The distinction lies in having great people
– not only our front line property staff, but also corporate resources in Accounting, Operations and Compliance –
outperforming the competition. High standards, attention to detail, and relationships with strategic business partners such as private owners, institutional investors and public housing officials are the cornerstones to our success.

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HSI has recently managed properties for Government Agencies, Regional and National Investor Groups, Financial Institutions, Cooperative Housing Groups, Churches, Non-Profit Groups, the Department of Housing and Urban Development (HUD), Private For-Profit Developers, and Court Systems (As Trustee).

Dedication and perseverance have earned HSI national recognition from owners, the board of directors, lenders, government agencies and yes, even competitors. From troubled properties to new development opportunities, our approach to property management is simple but effective: we manage each property as if it were our own.

When the future of your property investment remains at stake, HSI not only has the resources and systems in place to operate the property effectively but also the passion and commitment to meet or exceed expectations.

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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 the 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.

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" Quality service, well-maintained, housing and financial stability; realizing the property’s economic and social potential. "

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

Maintenance

Accounting & Reporting

Compliance & Other Specialty Services

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.

We look forward to serving your property and proving our value.

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.

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.

We look forward to serving your property and proving our value.

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.

Accounting & 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 OneSite.

HSI uses OneSite 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

HSI 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.

HSI has a specialized staff to handle the insurance and risk management functions for your property.

In today’s business environment, this critical function helps improve profitability and asset preservation, as well as protecting ownership, staff, and residents.

Rehabilitation

With more than four decades of experience developing and managing multi-family housing, HSI’s underlying strength is in our ability to evaluate, address, and implement rehabilitative efforts for the properties we serve. In fact, in the last 10 years we have done 185M in rehabilitation throughout our portfolio (beyond the normal replacement of appliances, carpet, etc.). This work ranged from landscape renovation to entire building renovation; roof replacements to utility conversions.

Our development team possesses the increasingly necessary experience and creativity required to balance the needs of the property and the owners, while remaining flexible and responsive to the unique needs of the residents without compromising our commitment to providing quality service. Over the years we have developed relationships with respected architects, general contractors, attorneys, consulting engineers and subcontractors – all of which have contributed to our continued success.

From concept, through financing and construction completion, our comprehensive approach includes leveraging our resources from operations and accounting, determining the extent of the rehabilitative effort, performing financial analysis and economic feasibility, and then tapping into our network of various industry partners for further insights depending on the size and complexity of the rehab. We remain committed to superior workmanship from preconstruction through administration, construction, close-out and warranty. We can choose from a prominent list of financing sources and general contractors that allow us the flexibility to execute even when dealing with the most complex situations or troubled properties.

Services include but are not limited to the following:

  • Site surveys and plan reviews
  • Needs analysis
  • Market analysis
  • Financial analysis and economic feasibility
  • Environmental investigation
  • Pro forma development
  • Budget development and administration
  • Resource Selection
  • Contract negotiation
  • Financing
  • Zoning and Permit Assistance
  • Construction site assessment
  • Governmental approval coordination
  • Construction Oversight
  • Draw administration

Whether the property requires total interior and/or exterior renovation, reconstruction of buildings damaged by fire, water or wind, HSI is ready to take on your challenge. We place a tremendous emphasis on making sure construction does not inconvenience property residents and we work tirelessly with insurance companies to help settle even the most unusual losses.

Case Studies

With more than four decades of experience developing and managing multi-family housing, HSI’s underlying strength is in our ability to evaluate, address, and implement rehabilitative efforts for the properties we serve. In fact, in the last 10 years we have done 185M in rehabilitation throughout our portfolio (beyond the normal replacement of appliances, carpet, etc.). This work ranged from landscape renovation to entire building renovation; roof replacements to utility conversions.

Over the past ten years, HSI has managed and completed over 185 million of rehabilitation/renovation/restoration throughout its portfolios of properties, for both owned and fee managed properties (beyond the normal replacement of appliances, carpet, etc.).

Renaissance Place Apartments (307 units, New Orleans, LA): Recently completed a $20M rehab; financed with Federal Low Income Housing Tax Credits (LIHTC) and Fannie Mae Debt. Renaissance is a 100% Project Based Section 8 high rise apartment building located in three separate towers for seniors 62 and older. All units are one bedroom consisting of approximately 600 square feet each. The property was completely devastated as a result of Hurricane Katrina. The rehab addressed all interior restoration and major system repair/replacement including roof replacement, electrical panels/systems, plumbing repair/replacement, asphalt replacement, window repairs, and exterior lighting. Interior renovations included the replacement of cabinets, flooring, lighting, countertops and appliances. The project also included the addition of a 2500 square foot community center. The project was completed in December of 2008, a month earlier than budgeted. Lease-up was a tremendous success, achieving an average occupancy of 95% by mid-September 2009, 3 months ahead of schedule.

Brandywine Townhomes (238 units, Atlanta, GA): Recently completed a $2.1M rehab for a local Cooperative Membership apartment complex. Rehab consisted primarily of replacing siding, windows, roofs, doors, parking lots, club house restoration and modest interior renovations on several units.

Towne Pointe (108 units, Conyers, GA):On May 30, 2002, the subject property was acquired with the proceeds of tax-exempt bond and 4% tax credits. As part of the acquisition, the FHA Insurance and Regulatory Agreement for the existing HUD 236 Loan were terminated and the project was converted to a LIHTC Affordable Housing property. As part of the conversion, the property will undergo an extensive rehab. The $2.5 million rehab addressed interior and exterior improvements that included roofs, siding, windows, lighting, cabinets, club house restoration, flooring, appliances, overlay parking lot, pitched roofs and modernization of the HVAC system.

Sterling Pointe (144 units, Oxford, AL): On February 2, 2002, the subject property was acquired with the proceeds of tax-exempt bond and 4% tax credits. As part of the acquisition, the FHA Insurance and Regulatory Agreement for the existing HUD 236 Loan were terminated and the project was converted to a LIHTC Affordable Housing property. As part of the conversion, the property will undergo an extensive rehab. The $2.5 million rehab addressed interior and exterior improvements that included roofs, siding, windows, lighting, cabinets, club house restoration, flooring, appliances, asbestos removal, overlay parking lot, and modernization of the HVAC system.

Emerald Pointe (192 units, Birmingham, AL): On November 7, 2000, the subject property was acquired with the proceeds of tax-exempt bond and 4% tax credits. As part of the acquisition, the FHA Insurance and Regulatory Agreement for the existing HUD 236 Loan were terminated and the project was converted to a LIHTC Affordable Housing property. As part of the conversion, the property will undergo an extensive rehab. The $5 million rehab addressed interior and exterior improvements that included roofs, siding, windows, club house restoration, lighting, cabinets, flooring, appliances, asbestos removal, overlay parking lot, and modernization of the HVAC system.

Legacy Pointe (184 units, Garland, TX): On May 3, 2000, the subject property was acquired with the proceeds of tax-exempt bond and 4% tax credits. As part of the acquisition, the FHA Insurance and Regulatory Agreement for the existing HUD 236 Loan were terminated and the project was converted to a LIHTC Affordable Housing property. As part of the conversion, the property will undergo an extensive rehab. The $3 million rehab will address interior and exterior improvements to include roofs, siding, windows, lighting, cabinets, flooring, appliances, asbestos removal, overlay parking lot, and modernization of the HVAC system.

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
  • OCAFs

Troubled Projects

  • REAC inspections
  • Management Reviews
  • Work-outs

OTHER STATE & LOCAL AGENCY COMPLIANCE REPORTING

  • LIHTC/Tax-Exempt Bond Compliance
  • LIHTC Investor Reporting
  • Resident Acquisition and Rehabilitation Income Certification (LIHTC)