 |
|
|
|
|
|
 |
|
||||
 |
 |
 |
 |
 |
|
 |
 |
|
|||
 |
|
|
|
 |
|
||
 |
 |
|
|
 |
|
||
 |
|
||
 |
|
||
 |
|
||
 |
|
||
 |
|
||
 |
|
||
 |
|
||
|
|||
|
|||
 |
|
||
 |
|
||
 |
|
||
|
|||
 |
|
||
 |
|
||
 |
|
||
 |
|
||
 |
|
||
 |
|
||
 |
 |
|
|
 |
|
||
Mike Clark heads the Multi-Family Management operation at Alpha-Barnes. This division is staffed by long-term associates whose experience and longevity in the multi-family and affordable housing industries offer competent, trustworthy, and loyal property management and compliance services to the communities they serve.
The Multi-Family Management division of Alpha-Barnes specializes in all types of residential apartment properties.
- Conventional and Market Rate
- Section 8 (New Construction, Section 202, Section 811)
- Bond-Financed (including State Allocations and Non-Profit Tax Exempts)
- Low Income Housing Tax Credit (LIHTC) (including mixed income properties)
- Seniors Properties (including those for families over 55 and over 62)
The company has assembled an experienced team of professionals who have long term relationships with Alpha-Barnes and the multi-family industry. The understand the complexities associated with maximizing an owner's asset value in today's intensely competitive market as well as the critical nature of governmental compliance in the various affordable housing programs. The company is committed to offering an owner the highest quality of service available. Among the services available to clients are:
- basic consultation,
- asset evaluation and analysis (due diligence),
- marketing and leasing,
- tax credit and affordable housing compliance services,
- training in all aspects of property management,
- maintenance planning and training.
No two apartment communities are the same! Alpha-Barnes analyzes the physical condition, assesses the surrounding market and considers the quality of the income and resident base as parts of a unique management and / or marketing plan that is developed for each property. The plan is intended to capitalize on a property's strengths and overcome difficult management issues. It is designed around the specific goals and objectives of its owners. The plan weighs cost-versus-return, with emphasis on meeting the investor's return goals. The plan for each asset is designed to maximize Net Operating Income while preserving the physical integrity of the asset and meeting any and all compliance requirements.
The Texas market in the 2000's has changed! An owner incurs substantial expense renovating apartments and generating traffic. For this reason a management team must be proficient in converting traffic to leases, screening residents' credit worthiness and ability to pay and implementing ongoing resident retention programs to reduce turnover. As part of their service, Alpha-Barnes prepares a detailed marketing plan tailored to each property's location, physical condition and targeted resident profile. In addition, their employees are given extensive training in marketing and closing, and Alpha-Barnes considers their performance in these areas to be a major component in their evaluation. The difference between success and failure is leased apartments to qualified residents.
Alpha-Barnes specializes in the operation of communities utilizing the Low Income Housing Tax Credit Program ("LITHC"). Since 1987 they have invested a great deal of time and energy into developing:
- Tax credit policies and procedures
- Comprehensive training programs
- Forms and handbooks
Alpha-Barnes assigns a tax credit specialist to each property to monitor the compliance process. Depending on the property's needs, our specialist can:
- Train on-site staff in tax credit management, compliance and leasing.
- Daily review and approve every application, verification and certification before and after an applicant is accepted to insure every unit is in compliance.
- Keep a full set of compliance documents in our corporate office.
- Monitor file maintenance and oversee dead file storage.
- Audit on-site files.
In addition, our specialist coordinate the auditing requirements and procedures with the Texas Department of Housing and Community Affairs ("TDHCA"), and monitor annual changes in IRS rulings and case law to be abreast of the newest compliance regulations.
In summary, Alpha-Barnes has developed a reputation for solving unique and complicated management issues. Their success with tax credit properties, rehabilitation of existing communities, and development and completion of new construction has attracted clients who demand performance. They know they can depend on the Company's commitment to professionally produce and operate communities which maximize their return on investment.
Alpha-Barnes has developed an insurance program offering its participants extensive coverage and considerable savings.
In the mid-2001, the property insurance industry began to implement significant changes in coverage and increases in premium. This was due to an adjustment in the low cost of this type of insurance, the first mold claims, major multi-family losses due to flood, storm and fire, the stock markets were plummeting causing the insurance investments to plummet, and then 9/11 occurred, the cost of multi-family insurance went sky high.
Alpha-Barnes began the arduous task of pricing insurance and also looking at alternatives. The premiums for the same coverage for the prior year with a $10,000 deductible were about the same as a present year property policy with a $100,000 deductible.
Alpha-Barnes Real Estate Services developed a system with the involvement of very savvy insurance providers which saved the participants considerable insurance cost.
- Apartment Association of Greater Dallas
- Apartment Association of Tarrant County
- Dallas Association of Realtors
- Institute of Real Estate Management
- National Apartment Association
- Texas Association of Realtors