We feel our philosophy and style is well suited to infusing your propertieswith a high level of energy and providing the necessary focus and attention it deserves.
Management Philosophy
At Oak & Dale Properties, we feel the single most important aspect of the management and operations program will be to provide ownership with the highest possible quality of life and value enhancement rather than just value maintenance. As an integral part of the owner's team, management's responsibility is to focus on the bottom line and provide ownership with positive results. Oak & Dale Properties' value enhancement approach will be custom tailored to address three distinct areas of property management - owner relations, administration, and operations.
Owner Relations
Upon taking over the management, our primary focus will be to assess precisely what the property's profile or "personality" is, and to understand what we can do to best meet their needs.
Administration
Documents are the foundation upon which our industry is based. Thoroughly understanding these documents (contracts, agreements) is critical to the successful management of any property and is often helpful in increasing value. Unfortunately, in many firms, the administration of the various property documents is often delegated to individuals who have not been properly trained to understand them, or do not have the power or authority to enforce them properly.
At Oak & Dale Properties, we feel that the Senior Property Manager and the entire management team must have a working knowledge of the property documents, and they must be able to extract as much value as possible from these various agreements. In order to accomplish this goal, the Senior Property Manager is responsible for preparing and verifying certain reports, which are useful tools in property administration. These reports are separate from our QuickBooks financial reporting in that they are administrative rather than financial in nature. They are updated at least every quarter, more often when substantial activity dictates, and distributed to our management team and to ownership.
In addition to supplemental reports, each Property Manager is required to keep up-to-date property files which contain copies or originals of all legal documents, owner histories, and all association correspondences. This system provides ownership with the assurance that all owner information is kept at one location in a neat orderly fashion. Although this approach may sound very simplistic, it is our experience that most management companies place too little emphasis on this function, leaving ownership with incomplete information regarding the property.
Administration of documents, a seemingly small area of concern, is often neglected, and can result in lost revenue. The Oak & Dale Properties Asset Management team does not allow this problem to occur at our managed properties.
Operations
Oak & Dale Properties' experience with residential properties has provided us with substantial insight regarding the operational components and mechanics of properties. Additionally, our significant experience with the takeover of properties has enabled us to develop certain procedures to ensure that an individual property's operations or its owners are not negatively affected, and that the transition process runs smoothly.
Upon taking over a property, we first evaluate vendor staff personnel and staffing levels, and assess the property's requirements. Anyone working for or on behalf of Oak & Dale Properties is expected to act as a goodwill ambassador for the property to learn (and use) as many residents names as possible and to assist residents and guests in any way possible.
Oak & Dale Properties places major importance on the evaluation of existing service contracts to ascertain if contract specifications are appropriate for a property and if the various contractors are complying with contract provisions. If it is determined that any service contracts should be rebid, we follow very stringent procedures to ensure that the highest value can be achieved for the lowest dollars. Where feasible, we utilize corporate contracts to provide a lower than "stand alone" market cost for our properties. Be assured, however, that Oak & Dale Properties is not married to any one contractor, and that we study each property independently to determine what is best and prudent for that particular property.
Because we conduct weekly staff meetings, key staff members are informed of pertinent property issues on a timely basis, and lines of communication are kept open. Emergencies are, or course, handled immediately and all key personnel are notified as required. The weekly meetings give everyone not only valuable information regarding current and future activities at the property, but also promote a team feeling that results in a goal-oriented group ready to perform for the property and ownership.
The Oak & Dale Properties management team will continuously strive to satisfy ownership by providing the highest quality services in a timely manner.
