Question 1

Why has your condo business grown so quickly since launch in 2015?

Accepted Answer

Realty Management Partners' New Star trademark has experienced rapid growth due to our consistent delivery of support to boards and communities. We meticulously implement the proposals presented during the evaluation process, ensuring that our commitments are fulfilled once contracts are signed.

Question 2

Condo/HOA community finances are a critical concern to every unit owner. How does Realty Management (New Star Properties ) support long term financial stability?

Accepted Answer

Our New Star trademark provides comprehensive financial support to communities. We offer immediate guidance to stabilize operating and reserve budgets for communities in crisis. For new clients, we proactively build financially stable foundations. Our process includes collaborating with boards to understand reserve planning, managing capital replacement budgets, and developing annual operating budgets well in advance. This approach ensures thoughtful modifications and contributes to sustainable business practices.

Question 3

So, New Star has grown quickly, but what is your retention rate? Do clients stay with you?

Accepted Answer

Realty Management Partners boasts one of the industry's highest retention rates. Our commitment to collaboration with boards and excellence in service delivery ensures that communities who engage with our New Star trademark tend to remain long-term clients.

Question 4

How does New Star make sure community property managers are not overloaded with too many units/communities?

Accepted Answer

We carefully manage our property managers' workloads to maintain service quality and ensure a good work-life balance. Assignments consider factors such as community size, number, age, and whether it's an age-restricted community. Typically, our managers oversee between 650 to 850 units across 5 to 9 communities.

Question 5

What kind of support does your condo property managers extend to Boards and communities?

Accepted Answer

Our property managers provide comprehensive support, including attending all board meetings, taking minutes, providing agendas, and posting meeting notices. They follow up on meeting actions, develop bids, meet with vendors, and handle scheduling. While boards focus on strategic decisions, our management team handles the tactical aspects, preparing information and options for board review and decision-making.

Question 6

What differentiates Realty Management's commercial division, trademarked Integrated Realty Resources (IRR ) from other players in the industry?

Accepted Answer

While Realty Management Commercial efficiently handles property management basics, our focus on value creation sets us apart. We employ an investor's perspective, seeking opportunities to enhance property attractiveness, utility, lease rates, and returns. Our proactive approach includes strategies like lease laddering to manage renewal timings. The longevity of our client relationships attests to the effectiveness of our value-creation strategy.

Question 7

Recently, New Star Properties and Integrated Resources merged together to form Realty Management Partners. While New Star was predominantly condos and IRR was mainly commercial; what brought these companies together?

Accepted Answer

The merger of New Star Properties and Integrated Resources was driven by a decade-long relationship between the principals and shared values of excellence in client service. This combination leverages our business management capabilities, optimizing strength and flexibility for our clients. It also enhances our ability to meet diverse client needs, particularly in maintenance and construction management.

Question 8

What does "Construction Management" under the IRR label entail?

Accepted Answer

Under the IRR trademark, our construction management services involve acting as general manager for various construction and equipment installation projects. While our New Star condo team routinely manages capital replacement projects, our construction management expertise is typically applied to larger, more complex undertakings. Depending on the project, we may serve as general contractor or, in some cases, self-perform the work.

Question 9

What are the strengths of Realty Management's multifamily and apartment program?

Accepted Answer

Our multifamily and apartment program is grounded in an investor's mindset, as we are investors ourselves. We focus on optimizing returns while ensuring properties are well-maintained and attractive to quality tenants. Our management approach emphasizes tenant satisfaction through responsive maintenance and proactive lease renewal management, coupled with efficient vacancy turnarounds.

Question 10

What is "New Star Handyman"?

Accepted Answer

New Star Handyman is our trade service available to all homeowners. Our technical team offers a range of home improvement, repair, and replacement services. These services span from minor tasks like wax seal or toilet replacements to more substantial projects such as interior painting, rental unit renovations, and kitchen cabinet replacements.

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