- Property
- Multifamily community
- Size
- About 200 units
- Location
- Uptown Dallas, Texas
- Work
- Property assessment with inspection services
The situation
Ownership brought us in to assess a property of about 200 units in Uptown Dallas, including inspection services to determine deferred maintenance.
Building systems
Our inspection found deferred maintenance on the boiler system, the domestic water pumps, and the HVAC systems, all of which needed to be budgeted for. Maintenance on those systems was being mishandled, and without proper maintenance schedules the owner was headed for premature failures.
Wi-Fi and security
We designed a specialized network cabling option to expand Wi-Fi coverage to the pool deck, and we recommended security fencing within the garage to improve security.
Vendor contracts
The trash service contract had expired, and we found the property was being overbilled by more than $2,000 a year as a result. We also moved elevator maintenance from the manufacturer's service department to a local elevator company. Quarterly maintenance now costs over $1,200 less, and when there is a service call, the technician's labor rate is $120 per hour lower.
Staffing
The staffing plan used a part-time floating leasing agent to keep a single-person skeleton crew in the office on one day. That agent was underperforming, and the floater setup caused delays in follow-up, which left prospects unhappy and mishandled. Foot traffic that day was low, so we recommended closing the office that day instead.
We keep our clients and their properties anonymous to protect their privacy, and every client gets the same confidentiality. Why we don't post client names
This work was part of our multifamily consulting. If you have a similar situation, get in touch.