PMA's principals are involved with each property's performance. Our size enables us to adapt our platforms to stay ahead of ever-changing trends, technologies and market conditions. PMA delivers an extensive understanding of real estate coupled with a personalized level of service, resulting in long term and successful relationships.
SERVICES
- Devise and Implement Operational Plans to Improve & Stabilize Property Appearance & Operational Results.
- Develop Ancillary Income Sources & Stabilize Property Expenses.
- Weekly & Monthly Tailored Ownership Reporting.
- Staff Development & Strict Staff Supervision
- Evaluate Unit Interiors, Common Areas & Property Exterior.
- Implement Unit & Property Rehabilitation Programs.
- New Construction Development Support.
- Preparation of Detailed Operating Budgets.
- Full Service Maintenance Programs.
- Utility Reduction Programs.
- On & Off-Site Staffing of Properties.
- Student Housing Management.
- Detailed Property Evaluations.
- Ongoing Marketing Surveys.
CASE STUDIES
Property Management Associates continuously strives to maximize the value of assets under management. Value is derived from various components of each property.
Oftentimes it is achieved through rehabilitation and repositioning; in other instances, value is achieved by establishing and growing additional profit centers. Many times, value is enhanced through understanding and addressing basic expense components.
PARC RIDGE, RESEDA
Leased newly constructed 158-unit apartment community, including 64 affordable units as a result of Community Development Tax Credits. Consulted with ownership, architects and contractor throughout building phase, from groundbreaking through receipt of the Certificate of Occupancy.
Certified 64 households to comply with affordable regulatory requirements. Achieved 100% occupancy within 6 months.
TUSCANY I & TUSCANY II, TORRANCE
Completed exterior renovation of 150-unit, multi-site apartment community.
Properties were re-branded and re-positioned to enhance value and competitiveness in market area. Project was completed within 6 months of commencement at 80% of the original budget, with no displacement of residents while increasing occupancy from 70% to 95%.
PORTLAND, LOS ANGELES
Completed interior and exterior renovation of a 51 unit apartment complex, located within the University Park (USC) area of Los Angeles. Forty-three of the fifty-one units were vacated and released.
The property was leased to 100% occupancy, increasing annual revenue by 45% from the previous year and was sold within a 16-month period from acquisition.
PLAYA DEL REY
Managed complete exterior and selected interior renovation of a nine building, 196-unit, portfolio. Increased rents by 55% over a 24-month period.
EL CORDOVA, CARSON
Developed scope with ownership team. Engaged architects, engineers, consultants and contractors for $7M rehabilitation and renovation of a 38 building, 1969 constructed, 304 unit occupied property.
Upgrades included a property re-pipe, complete landscape and irrigation upgrade, structural repairs to each building, parking lot, lighting and signage upgrades. Ongoing unit turns during the renovation have resulted in an immediate 20% increase in per unit rental rates.
The property maintained over 90% occupancy of available units throughout the 24 month renovation.