Property Management Services

Reporting And Analysis

Financial Statements using Generally Accepted Accounting Principles (GAAP) as established by the Financial Accounting Standards Board (FASB).
Our record-keeping systems are audit-friendly with 24/7 client access, yet secured, preventing unauthorized access or use.
We employ cutting-edge information systems that prevent fraud, reduce expenses, and automatically record each business day's transactions and events.

Services

BMG's standard services include:

Preparing annual budgets and other comprehensive financial plans
Full accounting of income and expenses
Maintaining accounts receivable, ensuring correct resident billing
Monitoring resident collections, vendor income, mortgage/insurance/tax rebates, and replacement reserve
Tracking purchasing activity, ensuring adherence to budget and policy
Centralized accounts payable includes processing vendor 1099s
Administering payroll, ensuring compliance with local, state, and federal requirements
Maintaining required insurance, ensuring risk management, and proper loss controls

Custom Reporting

Both owners and managers are provided personalized monthly financial summaries that are unique to the customer’s requirements. Our information systems enable us to easily adapt reports and other deliverables, which will ultimately increase the efficiency of the clients we serve.

Financial Statements
Collections and delinquency
Cash flow distributions
Rent Roll and unit availability metrics
Rent schedule and history
Turnover costs

Conventional Multifamily Housing

The executive staff of Block Multifamily Group (BMG) has managed conventionally financed multi-family assets for over thirty years. As each executive cut their teeth in the field, we have a perspective of property management from all directions. The key to our success is our value enhancement approach. From maximizing the rental rates to saving dollars on the expense line, our executives and property managers know how these events relate to maximizing the value of the asset.

Each BMG-managed asset thoroughly analyzes submarket positioning, rent alignment, competitive benchmarking, and physical condition in a vibrant market. Our team also identifies what has to be done to achieve maximum rates and lead to maximum value. A physical assessment of each asset is conducted by the VP of Maintance Operations and Management that determines physical issues, corrective measures, value, and NOI growth of the asset. This department reviews all capital items, ensuring the best possible price is achieved. All insurance-related claims are reviewed and negotiated by this group. All of the above are part of the daily mission of BMG. The absolute goal of our management group is to increase the value of the asset for the owner.

HUD Assets

Block Multifamily Group (BMG) is active in the management of multifamily properties operating under the guidelines of the U.S. Department of Housing and Urban Development (HUD) and operates all assets in conjunction with the HUD's Fair Housing Policy. The mission of the HUD's Office of Fair Housing is simple:

To create equal housing opportunities for all persons living in America by administering laws that prohibit discrimination in housing on the basis of race, color, religion, sex, national origin, age, disability, and familial status. BMG has been required to submit over 15 HUD-2530's (Previous Participation) during the past 24 months. Each was successfully approved for the property management of assets operating.

Our staff is familiar with Real Estate Assessment Center (REAC) Inspections and Management Reviews conducted by the Department. We have received scores ranging from 70 to 98 for REACs and have fully completed successful Management Reviews. Our proactive management in training and pre-inspection enables the assets to maximize the potential outcome.

For More Information:

Acquisition and Due Diligence

Block Multifamily Group (BMG) will provide acquisition assistance and due diligence for the client. Our site unit-by-unit inspection, the market survey program, the rent roll, and cost analysis are part of a comprehensive analysis conducted by our staff.

The BMG Team will focus on areas of income such as maximizing rents, ancillary income collections, and utility charges. In addition, the costs germane to property operations, from a thorough payroll analysis to expenses incurred for replacement items, will be analyzed. Our extensive experience in both property repositioning and renovation enables BMG to quickly ascertain the viability of current property operations, as well as facilitate projections for the ownership's ongoing investment objectives.

The services include:

Analysis of current operations
Unit by unit inspections
Current market survey
Operational financial analysis
First-year budget projections
Lease and file audits
LIHTC compliance-related issue will be addressed if required

PROPERTY MANAGEMENT SERVICES