Services Provided

SMG Property Management understands the importance of providing accurate and timely reports to our Owners and Management Team. The type and frequency of operational and accounting reports are customized to accommodate each Owner’s specific needs.

Many client sites utilize AMSI’s state of the art product called eSite.  eSite is an exceptionally flexible web-based property management system designed to centralize property activity and is hosted by AMSI.  AMSI is a leading industry property management system that provides marketing, management and accounting information. As a business owner, you have continuous access via the Internet to current and complete business data to evaluate the productivity of your asset.

Our standard reports include:

Management & Financial Reports

Weekly: 

A summary report, which documents traffic information, leasing results, rental information and activity by unit type as collected by the client’s site staff.

Monthly:  

Accounting: A complete financial reporting package, which includes the following:

Ø      General Ledger

Ø      Rent Roll

Ø      Rent Reconciliation

Ø      Delinquency Report

Ø      Year-to-Date Actual vs. Budget with Variance Explanation

Ø      Cash Flow Summary

Owner’s Report:  An operational report package, which includes the following:

Ø      Operational Narrative

Ø      Profit and Loss Statement with Variance Analysis

Ø      Cash Flow Summary

Quarterly: 

Marketing Report: A marketing analysis package which includes the following:

Ø      Marketing report detailing current rental rates and occupancy levels in the market place

Ø      Narrative report highlighting operations of selected competing properties

Annually:  

Develop and implement business plan and operating budget, which includes the following:

Ø      Leasing and marketing plan for the coming year which details projected rental increase recommendations as compared to area competitors

Ø      Updated demographic report using owner-directed parameters

Ø      A line-by-line projection of each revenue and expense item enabling net operating income to be accurately projected and maximized

Ø      Capital repairs and replacement program

Ø      Review of pertinent legal, environmental and engineering issues

Insurance/Risk Management: Our insurance program features the following:

Ø      Safety training to minimize incidents

Ø      Reduction of incidents to lower insurance premiums

Ø      Evaluation of property coverage

Ø      Review of pending claims

Ø      Control of insurance premiums through global policy purchasing power, individual property bids, or a combination of both

Ø      Monitoring of litigation and settlements

Ø      Assessment of workers compensation claims

Legal Assistance: Our in-house counsel provides the following to the client owners as requested:

Ø      Monitors changes in local, state and federal laws and regulations

Ø      Monitors Fair Housing compliance

Ø      Provides direction to on-site personnel on landlord/tenant issues

Ø      Reviews lease forms, rental applications and service contracts

National Purchasing Program: Strategic relationship with national vendors provides the following:

Ø      Provides a consistent supply of quality products to the properties

Ø      Lowest possible prices are realized through national supplier relationships

Ø      Eliminates on-site personnel kickbacks, etc. from local suppliers

Other Services

Property Tax Appeals: Subject to Owner request and direction, we review each property’s valuation and real estate tax liability. SMG has been successful in achieving lower operating costs through reduced property tax expenses.

Ø      Track apartment valuation trends, monitor apartment site transactions and engage outside vendors if required, to achieve tax savings that yield improved Net Operating Income.  We understand the tax assessment cycles in each of our client’s jurisdictions and examine several tax appeal methods to recommend the optimal strategy to secure a tax assessment reduction.

Due Diligence / Consulting Services: SMG will perform other services for a fee or under separate contract, by request, with or without a full service management agreement. A menu of some of these services is as follows:

Business Plan:

Ø      Review or Prepare a Management Plan

Ø      Review or Prepare Operating Budget

Ø      Review Property’s Past, Present, and Projected Financial Performance

Operations: Review the following:

Ø      Policies and Procedures

Ø      Collection Procedure and Receivables Aging Schedule

Ø      Compliance Requirements (business license, fair housing, bond, etc.)

Ø      Leases & Security Deposits

Ø      Rental and Security Deposit Consistency

Ø      Key Control Policy

Ø      All Contracts, Vendors & Supplies

Ø      Security Deposit Refund Policy

Ø      Maintenance Standards

Ø      Reporting Capabilities

Ø      Complete Audit of Utility Bills and Payroll

Ø      Quality & Level of Staffing

Marketing / Market Research:

Ø      Review Training Methods & Phantom Shop Staff

Ø      Evaluate Marketing Strategies

Ø      Evaluate Resident Satisfaction

Ø      Analyze Economic and Real Estate Trends

Ø      Analyze The Property’s Pricing Strategy

Inspection:

Ø      Walk All Units or Leased Space

Ø      Inventory All Equipment & Supplies

Ø      Survey Grounds, Public Areas & Structure

Engineering / Environmental Issues:

Ø      Review EPA Compliance

Ø      Review OSHA Compliance

Ø      Review the Integrity of the Structure

Ø      Recommend Strategies to Overcome Construction Deficiencies

Alternative Revenue Sources:

Ø      Utility Submetering

Ø      Cable TV Revenue Sharing

Ø      Telephone Service

Ø      High Speed Internet

Ø      Laundry Vendor Revenue Sharing

Affordable Housing Services:

Ø      501 (c) (3), Nonprofit Designation and Experience

Ø      Developer Expertise in New Communities or Rehab (Multifamily and Single Family Experience)

Ø      Innovative Financing Utilizing Federal State and Local Grants & Funding

Ø      Consultant to Nonprofit Groups and Community Associations

Miscellaneous:

Ø      Cash Management Services

Ø      Tax Accounting & Projections

Ø      Full Accounting Services

Ø      Acquisition and Due Diligence Service

Ø      Property Sales Preparation

Ø      Purchasing & Sale of Properties

Ø      Financing Services

Ø      Construction Management

Management Team

The Professionals:

Michael J. Doyle, CPA, Principal:  Responsible for property financing and all accounting practices including cash and financial planning for each project and each partnership.

Mr. Doyle is a Certified Public Accountant with an extensive accounting background with Price Waterhouse and his own firm, Doyle & Associates, Chartered. He served as the due diligence officer for the securities firm Folger, Nolan, Fleming, Douglas, Inc. in Washington, D.C. He has over 25 years experience with multifamily projects as an owner, partner, and investor. This includes overall management of several thousand apartment units.

John S. Newsome, MBA, Principal:  Responsible for acquisition and sales.

Mr. Newsome has over 25 years experience with Equitable and Maryland National Banks in Baltimore.  His background includes heading the National and International lending areas, the formation of Cash Management Services, and heading all commercial bank operations.

Kimberly M. McAllister, Esq., Vice President and General Counsel:  Ms. McAllister is responsible for determining and implementing policy and providing legal support services in matters of risk management, regulatory compliance, acquisition, financing and development.

Ms. McAllister holds a Bachelor’s Degree in Political Science from University of South Florida and a Jurist Doctorate from Stetson University College of Law.  She is licensed to practice law in Florida and has been working in the real estate industry since 1993 and holds both a Florida Title Agent’s license and a Florida Real Estate Broker / Sales Agent license.  Prior to joining SMG, she served as a real estate development associate with the law offices of Broad and Cassel and was employed by Attorney's Title Insurance Fund, Incorporated.

Richard S. Wakeley, ARM, Vice President / Regional Property Manager: Responsible for properties located in North Florida, Georgia, North Carolina, Virginia and Maryland

Mr. Wakeley has over 24 years of experience in property management.  He has
worked his way up from an on -- site Resident Manager to a Regional Property Manager.

 
His experience has primarily been in multifamily to include Conventional and
HUD properties.  He is a Graduate of the Florida Institute of Real Estate and
holds a Florida and a Georgia Real Estate license.

Stephen May, Regional Property Manager: Responsible for properties in Western Michigan.

Mr. May has 40 years experience as a Property Manager and Regional Manager in conventional multi-residential properties.

He has been the recipient of a number of prestigious awards regarding his work in property management. He holds a Bachelors Degree in Advertising from the University of Dayton.

Maurice A. Opstal, President – Stellar Development: Responsible for all construction related activities including renovation, new construction, construction management and consulting.

Mr. Opstal is a State Certified General Contractor with over 14 years experience in the commercial and residential construction industry.   He holds a bachelors degree in Building Science from Auburn University.  Previously he was with DooleyMack Constructors and he has an extremely well diversified portfolio of construction project experience.