Focus Management Group

Real Estate Industry Experience

Multi-Family Apartment Complex

Company:

Multi-Family Apartment Complex

Situation:

A multi-family apartment complex, which consisted of nine multi-family apartment complexes catering to middle and/or lower income clientele, was in decline due to weak markets, a severe lack of regular maintenance and failure to make needed capital improvements. Cash flow was weak due to high vacancy and past due accounts payable.

Focus Scope:

Focus was tasked to inspect the properties, recommend performance improvement measures, estimate current and future cash flow, and advise the company on financial and operational alternatives.

Tasks Performed:

  • Managed all aspects of tenant acquisition, evaluation and retention, rental rate structure, amenities, community security, maintenance and service requirements
  • Managed all aspects of tenant acquisition, evaluation and retention, rental rate structure, amenities, community security, maintenance and service requirements
  • Created cash flow budgets for 13 weeks, 12 months and 18 months
  • Designed and implemented a cash management system
  • Reviewed capital expenditure requirements to determine debt service capability and prepared a capital expenditures budget
  • Identified and organized utility accounts, creating a view of individual utility account liabilities and a portfolio level view of the situation
  • Revenue benchmarks are monitored and reported on a regular basis

Results:

    Focus provided the Company with a realistic assessment of the situation and continues to monitor cash flow and disbursements.
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