Is your property living up to its full potential?
Our mission is to boost your investment through dedicated service.
Summerfield Property Management is your go-to property management company for multifamily apartments with 50+ units.
At Summerfield...
We do property management differently.
How?
While most property management companies offer only one level of service, Summerfield can offer property management services customized to the goals you have for your rental properties. This means Summerfield listens to your goals and then adjusts our strategy to align with what really matters to the commercial real estate owner.
In our experience, the cookie-cutter approach to property management is not as effective. Every asset manager and owner want to get the most out of their investment, and each asset class and investment type (i.e., value add, core-plus, core, etc.) requires a modified strategy to optimize performance.
Speaking of performance, the only thing more important than maximizing revenue is a solid business plan to keep spending in check. When you work with Summerfield, planning and budgeting are a priority, and you can rest assured we keep our mind on your money all year long.
As the first line of defense, our team leverages software like Avid Exchange’s payable and purchase order program so that costs are kept in check. Your portfolio manager or a corporate director is required to approve purchases versus site staff.
As a second line of defense, our accounting team completes a batch review to ensure accuracy and consistency before processing, to prevent expenses from ending up lumped together in general ledger line items.
If that is not enough, as a final offering, we run tests to compare actuals against historical averages to identify possible errors and omissions. Our director of accounting, a CPA, and the accounting team run this process to catch possible errors.
If you’re open to switching your property management company to Summerfield, read on for more detailed information on how we can benefit your garden style, mid-rise, or high-rise apartment.
When Summerfield takes over a property, we immediately implement our documented and proven best practices to optimize site operation, records management, and thus return on your investment.
Locations
Here are a selection of our property management best practices.
Lease
Review
Implementing a multi-person lease review, to ensure rents and other fees are accurately entered for the benefit of the Lessor and Lessee.
Lease Expiration Management
There’s no fun in watching your NOI soar, only to plunge back down when too many leases expire at the same time, causing your staff to get overwhelmed, leading to prolonged vacancy and a reduction in cash flow. Once we know your goals, we can provide a strategic lease balance plan to smooth out the highs and lows.
Tenant Screening Standards
Tenant screening is important, not only to protect your NOI but also to protect tenants from taking a home for rent that they can’t afford. The only way to fill your building with qualified tenants is to set screening standards that lead to the best tenants within your building’s asset class.
Vendor Compliance
To limit the liability of our clients, Summerfield uses a reliable vendor compliance service to screen and ensure vendors meet minimum standards. It’s just better for your investment property to have systems in place that ensure appropriate coverage when it comes to vendors.
Renter’s
Insurance
Summerfield has not only made it our policy to require each tenant to purchase renter’s insurance, but we also use software that prohibits a move-in to take place until proof of compliance is provided. Additionally, we have systems in place to ensure coverage that will protect the building owner is maintained throughout the term of the lease.
Online Payment Options
We offer multiple payment options. In our experience, when you make it easy for people to pay, they pay, which maximizes value based on the current cap rate. Our payment options do just that.
Marketing
Online marketing is the #1 source of leads for apartment communities, but how do you know where your dollars are best spent? Leverage data. Collecting and analyzing data allows us to redirect your marketing dollars into the right channels and maximize the number of leads that convert.
Inventory
Control
We use par sheets to ensure we have the expected inventory to maintain a building for at least 30-days. Should supply chain issues temporarily disrupt a product’s availability, service to our residents remains uninterrupted for at least 30-days. Happy residents = less turnover vs tenants opting to search for rental properties near me.
Company
Culture
When it comes to property management, people want to feel good about the work they do and where they work. It’s no accident we have staff who have been with us for a long time. Healthy company culture inspires loyalty and high levels of productivity. Keeping staff turnover low benefits your bottom line.
Collecting
Rent
Whether you have a building with market rate, section 8 subsidy, townhome for rent, etc. we have the best practices in place to make sure your asset collects as much rent as possible.
