November 2009 Newsletter
Success in a Down Market
Even as the economy has bumped along for the past two years, Sunrise’s portfolio has been growing to almost 10,000 units. Both in California and in Arizona, the most particular owners have come to recognize the Sunrise skillset that leads to higher returns, year after year, in good times and bad.
After 30 years in business, the Sunrise team has experienced every type of economic cycle imaginable. And while we’ve never shied away from experimenting in hopes of squeezing out a little better return for a client’s investment, we have come to recognize certain tried and true methods that provide consistently positive NOI.
As we all begin mapping out our strategies for success in 2010, it’s worth considering how Sunrise delivers good results for every type of asset we manage:
A) We stick to the basics. Sunrise is a residential property management company, and that’s all we do. We keep our focus, and never go drifting off in directions we know nothing about.
B) We bring in the best people. Every property has certain needs that must be addressed, and we have a full complement of top professionals in every field who stand ready to provide every service imaginable.
C) We move quickly. When property issues arise they need to be fixed. FAST! Our people are on 24-hour call to repair or replace whatever isn’t working properly. We also adjust to the needs of the market. Our ever-vigilant watch of cycles and trends allows us to change direction quickly whenever we need to.
D) We market well. Sunrise has spent years perfecting the right combination of marketing tools and messages to perfectly match resident and property. We think outside the box – our marketing techniques are second to none.
E) We communicate well. Turnover stays low at Sunrise-managed properties because we know how to effectively communicate with residents. And our Raving Fans/Customers for Life philosophy takes customer service to the extreme!
F) We take care of our people. Sunrise’s employment philosophy has always been to pay team members a little bit better and treat them a little nicer than the next guy. They appreciate that, and return the loyalty we show them. Keeping good employees is important to us, to owners, and to residents who like seeing the same faces all year round.
G) We spend wisely. Using state-of-the-art technology and an ever-watchful eye, Sunrisers review every expense to ensure the right investments are made when they’ll provide the greatest benefit to the property…and the bottom line. Then we take advantage of the weight of our buying power to negotiate the most cost-effective contracts on your behalf, ensuring you get the best deals for every product and service you could possibly need.
H) We watch the market. Our technological savvy also provides insight into every property in every marketplace we’re active in. Sunrise specialists track rents at properties we manage and those we compete against on a daily basis. It helps explain why Sunrise-managed leasing rates and rents are above market, even in areas where the common wisdom is “it can’t be done.”
No one piece of this puzzle holds the answer to success in the best of times, let alone when things are lean. But by combining top team-members with the right mix of skills and market insights, Sunrise Management continues to demonstrate that the impossible…is possible.
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