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Metro
Management Inc. Services
General
Services Information
Costs
Not Included in the Management Fee
The following costs are not included in the management fee
and will be billed directly (without mark-up) to the property:
1. Apartment
Association or other professional association dues or costs,
political action committee contributions, Apartment Association
conventions, meetings or seminars, spring picnic for property
employees, holiday party or nominal holiday gift for property
employees.
2. Property
promotional fliers, brochures, property plans. All Metro Management
forms used in property administration.
3. Office
supplies and equipment.
4. The
cost of checks, envelopes, and postage for site accounts payable.
5. Advertising
for site personnel, pre-employment drug test and background
checks. Employment agency commissions will not be paid without
prior consent of Owner.
6. Site-based
computer hardware and software costs.
7. Travel
expenses for Metro Management employees if owner requests
meetings which are either away from the property and involve
substantial expense, or are not at the property during a regularly
scheduled visit by Metro Management personnel if property
is located out of the metropolitan Oklahoma City area.
8. The
cost of uniform shirts, hats, and blouses for property personnel.
9. The
cost of Metro Management-sponsored motivational activities,
prizes, awards or gifts, which will not exceed $100.00 per
employee per year.
10. A
charge of $50.00/staff hour for all property tax appeal support
needed by the property in excess of the first four hours.
Commercial/Retail
Property Services
Greenfield
Service Center
More
information coming soon...
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Multi-Family
Housing Services
Resident
Retention
The focus of the resident retention program is to meet the
needs and expectations of the resident. If needs are being
met, residents generally do not leave a community. It is far
more cost effective to keep current residents than to find
new ones. Retaining residents saves on marketing expense,
turnover costs, and lost rent.
Every
resident expects more for his rental dollar. Management’s
challenge is to determine new services that can be added that
will increase the rental value for renewing residents. The
greatest resource of an apartment community is its current
residents.
Two components
of the retention program are : (1) an effective and thorough
communication process that remains in touch with the residents
during their occupancy, and (2) showing appreciation or providing
incentives to the residents for their long-term relationship
with the community.
Communications:
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Once a year each resident is asked to complete a questionnaire
to provide feedback on how management is doing. The questionnaires
are mailed to the Metro Management corporate office and
by-pass the site staff. Results are then reviewed with Managing
Members and site staff.
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When a resident leaves the community, a questionnaire is
sent to determine why he left and what we could be doing
better.
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Work orders are reviewed and residents are called to determine
the level of satisfaction with the quality of maintenance.
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Complaints are closely monitored by Metro Management corporate
office staff to ensure successful resolution.
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Resident demographics are determined to develop programs
that meet the residents’ needs and provide new services
that will increase their rental value. Examples would be
to provide a laundry and dry cleaning pick-up and delivery
service, add a video lending library to the on-site recreation
room, or establish a new movie critique club and publish
the results in the site’s newsletter.
- Residents
are personally asked about their satisfaction with their
community when they pay rent each month.
Cost
Control
Our Managing Members have over 15 years experience in managing
on-site personnel. In order to maintain control without hampering
the ability of our on-site staff to do their job in a timely
manner, we have developed the following cost control program:
1. Site
employees cannot purchase any item over $500 without Managing
Member’s approval. Prior to payment of any invoice,
the Resident Manager (RM) checks each invoice for:
- All
items received
- Items
in good condition
- Invoice
complete
- Unit
price
- Total/extension
- Two
copies of invoice received
- Discount
terms
The Property
Manager then signs the invoice authorizing payment. Each Managing
Member reviews each invoice and signs the invoice indicating
approval.
2. The
Manager reviews the monthly cash operating report for each
item purchased. They compare costs including year-to-date
total cost with standards set by our experience and what common
sense dictates. For instance, we know that a 2 Bedroom apartment
requires about 3 ½ gallons of paint (excluding ceiling)
if all walls are painted with a low sheen, semi-gloss, latex,
enamel paint. They refer to the move-out summary and compare
the total dollars expended on a site for paint vs. number
of move-outs. In addition, they compare paint cost per rental.
These types of investigative procedures help us determine
whether we are over-painting or under-painting. Due to differences
between sites, the Manager’s experience is invaluable
when interpreting the meaning of these types of comparisons.
3. Managing
Members compare budget vs. actual expenses incurred each month
and on a year-to-date basis, and prepare a variance analysis
monthly for the owner.
4. The
Cost Control Committee negotiates prices for most repeat/standard
items purchased by each site following established Competitive
Bid Procedures. These procedures ensure uniformity and cost
effectiveness in all areas of procurement. Once prices, term’s
volume discounts, etc. have been negotiated, the successful
vendor is listed in the Metro Management Purchasing Book.
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Real
Estate Investment Services
Information
coming soon.
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