Best Practices for Monitoring Multifamily Properties Part II - Site Inspection & Property Management Evaluation

LEARNING AREA: Real Estate Development
Partner Events
Birch Island Real Estate Consulting
Online

Duration:

1 hour 30 minutes

Location

Online

Description

​​Sierra Heights Apartments, LP is among the weakest multifamily projects in your tax credit portfolio. You recently added the asset to 'watch list' status due to a sharp decline in occupancy and operating deficits (Best Practices Part I webcast). Of course, a back-office desk review of financial statements and operating reports is only part of the big picture, right?

Site visits can reveal many clues about a property’s operational troubles and potential corrective actions. If you have limited experience conducting site visits to evaluate multifamily assets and property operations, this training is for you. Join Vinnie Viola, principal of Birch Island Real Estate Consulting, for a 90-minute training that offers a framework for conducting multifamily site visits. Vinnie shares his asset manager’s perspective of a typical two-part site visit, which includes a property physical inspection and evaluations of property and maintenance staff and their policies and procedures. 

Training Agenda​

​Segment 1 - Property Physical Inspection

Methodology

  • Overview of LIHTC Project Inspections and UPCS
  • Deferred Maintenance in Perspective
  • (Note: this is not a REAC or HQS-type training, but does examine UPCS criteria as a framework for conducting inspections)

Segment 2 - Evaluation of Staff and Processes
A) Property Management Evaluation

  • Administrative / leasing staff and FTEs
  • Management office
  • Rent collections
  • Marketing and retention
  • Leasing
  • Compliance
  • Resident service

  B) Maintenance Evaluation Criteria

  • Maintenance staff and FTEs
  • Maintenance workshop and inventory
  • Contracted services
  • Work orders
  • Preventive maintenance
  • Capital planning
  • Unit turnover

​Is This Training for Me?
Vinnie offers his seasoned asset manager’s perspective in this important introductory training for multifamily professionals. So if you’re new to multifamily housing with limited experience conducting site visits, this webcast will expand your working knowledge of property physical inspections and evaluation framework of site staff and processes that guide daily operations. The training targets:
Multifamily asset managers and analysts with portfolio oversight responsibilities
Entry-level property management staff
Corporate staff at property management companies that want a site-level operations perspective
Others that want to learn the basics for evaluating multifamily properties
 

Registration fee

$109