PROPERTY MANAGEMENT – RESIDENTIAL
At Cirrus we recognize that mistakes in property operations are made when the property manager and the owner are not aware of changes in market trends, changes in physical assets and/or neighborhood demographics. We believe it is the responsibility of the professional property manager to keep the owner informed of such changes and to communicate how such changes may affect operations. The owner and management team must have correct, up-to-date information in order to act and not simply react to change.
How do we at Cirrus ensure delivery of the information necessary for effective, proactive management? Our customers receive weekly rental and collection reports, market surveys, financial statements, and annual budgets. We also prepare on behalf of LIHTC clients the necessary annual compliance reports needed to satisfy tax credit or bond regulatory agreements. In addition, our professional staff constantly updates lease agreements and all pertinent property documents to comply with government regulations.
Any successful property management strategy also depends largely upon the performance of the on-site personnel. For this reason, Cirrus maintains an impartial Quality Control Department, which inspects all properties regularly, with frequency depending on the number of units as well as past inspection results. Our executive team then uses these reports to track the performance and target the training of on-site staff and our regional property supervisors. These practices help us ensure first-rate service for our residents and meticulous records for our owners.
To address the specific compliance concerns of affordable housing properties, Cirrus has in-house operations led by a California attorney with COS, C3P and HCCP designations in addition to extensive affordable housing experience. We offer robust training and education programs to ensure that all on-site staff is properly trained in the requirements for applicable housing programs. In addition, Cirrus believes strongly that our clients’ interests are best served when their assets are supervised by licensed individuals whom have been trained and tested in fiduciary matters, agency, real estate law, fair housing training, etc. In California for one, the Real Estate Department requires that every multi-site supervisor must have a real estate license—a rule frequently overlooked by other property management firms, to their peril and their clients’ detriment. At Cirrus we understand and follow all such applicable rules.