Leasing and Marketing Assessment

HRG believes strategic positioning of a community must first start with an indepth marketing assessment of the property. To accomplish this task our company has in place detailed internal and external assessment programs to assist and ensure the property is utilizing every resource available to successfully position the property and market it to the surrounding community.

The marketing assessment is an in-depth, detailed analysis of the community, staff, communications, on-site and off-site marketing. This assessment also reviews each staff member’s ability to gather and communicate effectively in the marketing arena. Additionally, the assessment helps the property manager and the corporate staff becomes aware of any possible deficiencies in marketing, communications, record keeping, and staff training.

Monthly Leasing

Plan At the beginning of each month a spreadsheet is generated to establish occupancy, traffic and leasing (individual and team) goals for the period. The report analyzes volume from current traffic sources, applies a realistic closing ratio and plans how to get more traffic if needed. The report is reviewed throughout the month at a daily meeting.

Employee Assessment

HRG strategically utilizes periodic telephone, online, conventional and video shopping reports as a training and development tool. Shops reveal whether the leasing associate is following the HRG guidelines for telephone, tours and follow up performance. The results of the shops provide a blueprint for subsequent training targeted to the specific leasing associate and the exact challenges discovered.

Proactive Marketing Programs

Hammond Residential Group does not focus on reactive marketing techniques, but instead uses a forward thinking, proactive approach. After assessing, at ground level, the community and the marketing materials and plans in place, should a weakness be uncovered, the staff and corporate office utilize the marketing assessment in order to brainstorm about why current programs may not be achieving the results originally intended.

The marketing assessment includes brainstorming about the current market and its trends, current staffing and training, demographics, preferred employer contacts, traffic and other areas directly affecting the marketing program of the property. This type of assessment enables HRG to take an unbiased look at strengths and weaknesses in order to identify areas where training or further market research may be needed.

One of the key factors in our marketing assessment program is that it allows our staffs to truly play an integral role in the development of the marketing concept and plan of the community. Associates are encouraged to share their ideas, constructive input, and this input affords senior level management the opportunity to see and experience the talent and efforts that each associate contributes to our company.

Our marketing assessment program has been extremely successful in helping our staffs achieve and maintain a strong visible position in the community, surpass market average occupancies, and generate a true team marketing atmosphere among our on-site staff associates. Our track record of success has been proven time and time again.

Training

Hammond Residential Group, Inc. places a high value on the education of our associates. In that regard, every opportunity is afforded to each associate, both corporate or on-site, to utilize the vast educational resources of the local and state apartment associations, the National Apartment Association, Institute of Real Estate Management, state monitoring agencies, national affordable housing organizations, private training and seminar organizations, web based training, inhouse training, and local college and university programs.

The multifamily industry has a widespread knowledge base to pull from and the educational opportunities offered by the organizations associated with this industry further enhance our team’s ability to successfully management real estate assets. HRG is dedicated to the educational enrichment of its associates and therefore encourages all to attend courses that will meet the associate’s educational and professional needs and in turn contribute to and directly benefit your assets.

Annual developmental training requirements for all team members include:

• LIHTC & HUD courses for corporate and office staffs
• EPA, OSHA, Life/Safety, and Mold Awareness courses for maintenance staffs
• Fair housing courses in an effort to keep up to date with the latest legislative issues for all on-site staffs
• Human Resource and Supervisory courses

HRG corporate team members conduct in-house training. Courses and seminars include such topics as monthly variance report analysis, owner report writing, market analysis, software applications, sales-oriented leasing and others as necessary.

Policies and Prodecures

The HRG Policy and Procedures Manual is an in-depth, concise, and detailed “living document” that outlines all policies and procedures for every aspect related to the successful management of your asset’s operations.

Specifically, our policies include:

• Financial & Accounting
• Reporting Requirements
• Life/Safety
• Office Operations
• Human Resources
• Leasing & Marketing
• Maintenance
• Preventive Maintenance
• LIHTC

Accounting

Hammond Residential Group utilizes Peak Property Management, an excellent Internet-based, real-time software system, for posting rental income, maintaining operating information, managing receivables and processing accounts payable.

Our fiduciary responsibility to our clients is our highest priority. Money management is handled at HRG through its corporate finance department, utilizing the Peak accounting computer system. Proven management formulas provide for the smooth, efficient day-to-day operations of numerous apartment communities. Safeguards and strict accounting procedures are mandatory.

Each level of the property management team, from on-site personnel to the President of HRG, is responsible in some way for insuring the financial stability of the asset. The on-site staff practices proactive marketing by continually monitoring street rates, concessions and occupancy trends, as well as current and projected economic factors when determining the pricing of each available unit of the apartment community.

Financial and accounting management practices include:

• Budget preparation
• Financial statement preparation
• Manager spending limits
• Three tiered corporate staff monthly financial reviews
• Monthly financial report preparation
• Purchase order system
• Accounts Payable management
• Accounts Receivable management
• Fixed expense management
• Audits
• Banking

Financial Reporting

HRG produces high quality, detailed, monthly owner’s financial and property status reports. Our software application programs and our staffs are well equipped to meet any additional reporting requirements customized to the needs of each individual asset.

Monthly owner’s reports are mailed out on the tenth of each month. The reports, in their entirety, are prepared and completed by the respective property manager, then submitted to the Corporate Office for review.

Preventative Maintenance and Safety

The best way to start preventive maintenance is to physically audit what you’ve got, unit by unit, exteriors, common areas, and amenities. HRG begins with a property assurance survey that encompasses a thorough, in-depth physical inspection of the following:

• Exterior building integrity
• Unit by unit inspections
• Exterior grounds
• Common areas
• EPA and OSHA
• Emergency procedures
• Maintenance shop

Once the initial inspections have been completed, a plan for corrective measures is submitted to the owner with appropriate bid package on any major capital needs. An overall general maintenance program would be put into place and become a part of the standard day-to-day maintenance as outlined and detailed in the Policy & Procedures Manual.

Initial Due Diligence

As part of HRG’s dedication to the successful management of your asset, upon initial assumption of management the following due diligence items would be performed:

• A complete file audit will be performed to verify the integrity of the data in the computer, the resident’s file, as well as the integrity of the tax credits
• Assess outstanding resident balances and would put aggressive collection procedures in place
• Review of vendor expenses and performance
• A payment plan would be put into place after a complete audit of all utility bills to ensure the property is not carrying the debt for occupied units on gas, electric, and water charges
• Assessment of potential additional ancillary income

Professional Services

HRG can also provide the following additional services:

• The latest in full service website development services for client properties
• Insurance quotes
• Tax appeals
• Capital repairs and improvements