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The original purpose of the company's formation was for the management
of rental, or multi-family, communities. UPA currently represents
the owners of 26 apartment communities, over 250 community associations
and over 200 rental houses; these properties total over 40,000 units
and UPA adds 1,000 units a year to its management portfolio. Our clients
frequently comment on UPA's:
1. complete and detailed financial statements;
2. competitive bid procedures;
3. detailed property inspections and knowledge of the property;
4. varied collection practices to keep delinquencies low;
5. quick responses to questions and problems;
6. problem-solving skills.
In the past UPA has taken on the management of several apartment properties
in Tidewater which had high delinquency rates and/or financial irregularities.
By replacing unproductive and unsuitable employees and by properly
budgeting and enforcing tight financial controls, all of these properties
are now operating profitably. The apartment properties consistently
have lower vacancy rates than they have experienced in past years,
and improved cash flow.
Improvements in cash flow are made, not by skimping on repairs and
maintenance, nor by lowering rents to improve occupancy, but by maintaining
tight and competitive bidding for supplies and services. We also maintain
all rental properties with the use of our full-time maintenance people.
The only jobs for which outside companies must be used are those which
require some special, infrequent skill or specialized equipment where
it is not cost effective for UPA to maintain such infrequently utilized
personnel or equipment. Maintenance personnel are certified and equipped
to recover and recycle freon in accordance with federal EPA regulations.
United Property Associates brings years of professional experience
in effective administration of all areas of financial management.
Budget projections, establishing operating procedures and maintenance
of proper records for audits and tax reports are but a few of the
areas of expertise required to provide successful communication with
both a community's Owners and its accountant. Our data processing
systems are state of the art, with detailed reporting capabilities.
United Property Associates offers the leadership and administrative
skills necessary for the smooth operation of your property. Because
attention to detail and timely execution of paperwork is critical,
we customize procedures to ensure satisfactory response to requests,
and compliance with the numerous regulations that govern rental property.
Timely and reliable reporting, stable
and efficient bank relationships, and accurate and prompt deposit
of funds is basic to good financial management. Further, regular advice
on replacement reserve balances and expenditures is a keystone to
a property's financial quality and stability.
In addition to the administrative support that each Manager enjoys,
there is also great depth of support in the Accounting Department
as represented by the chart below. It is apparent, again, through
UPA's commitment to excellence that significant resources have been
committed to personnel in the accounting function to ensure the greatest
accuracy and highest performance in accounting procedures, so that
funds are promptly and accurately coded and deposited into the client's
bank account, that financial statements are complete, accurate, and
provided on a timely basis, and that other financial duties are carried
out promptly and professionally.
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It is evident from the supervisory process that adequate personnel
are available to assist anytime there are problems or unusual circumstances
requiring dedicated time in the Accounting Department. The assignment
of accounting duties to specialized staff rather than requiring Managers
to devote time to accounting routine allows Managers to spend more
time managing the community and less time with clerical duties. Of
course, this is a plus for the Owner since it allows Managers to be
more specialized in their efforts and dedicated to handling the major
affairs of the property.
A major element in rental property management is the maintenance and
repair of the physical property, not only to preserve and enhance
the community's value, but to keep all facilities in the best condition
for use by residents and guests. United Property Associates maintains
a Vendor List of professional contractors. Fully licensed and insured,
they competently expedite any necessary repair or replacement as noted
in our regular inspections and as authorized by the Owner. We are
proud of our reputation for conscientious maintenance of our client's
property and our pro-active policy for any situation that would improve
the homeowner's quality of life.
Regular and reliable advice to the Owner, and assistance for proper
communication is necessary for a property to function effectively.
United Property Associates provides the records, data, and backup
support to help carry out its responsibilities to owners.
United Property Associates is indeed
fortunate to be of sufficient size and breadth to be able to provide
outstanding support for its management staff. The flow of support
is represented by the chart below. No other management company in
Hampton Roads provides such in-depth support, both qualitatively and
quantitatively, as does United Property Associates.
Managers have the assistance
of Accounting Service Representatives to handle inquiries and questions
regarding correspondence to the Management Company, as well as inquiries
regarding account balances. The Site and Regional Managers also
have, for additional assistance, a Desktop Publishing Specialist
whose duties include design, layout and publishing of newsletters.
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Regional Property Managers have for their
assistance, a Senior Regional Property Manager. In order to attain
this position, a manager must have demonstrated five years of leadership
and excellence in his/her management duties, and demonstrated a
desire and history of leadership as being worthy of a model for
others to follow. The Senior Regional Property Manager's position
is one of administrative supervision, assistance to other Regional
Property Managers and to Site Managers.
This position also imposes upon the Senior Regional Property Manager
the need and expectation for providing guidance for the future direction
of the company in order to assist in its growth and achievement
of excellence for its clients.
The Regional Property Managers report directly to the President
of United Property Associates, the founder of the company who has
achieved high levels of educational certification from the Community
Associations Institute and the National Association of Home Builders.
He also holds numerous other educational certifications and diplomas.
The President has demonstrated his commitment to the profession
through many years of participation and leadership in related professional
organizations at the local, state and national level.
No other company in Hampton Roads provides this high level of assistance
to its Managers, proven educational and leadership qualities and
success as measured by internal growth and service to its client
communities.
Effective and frequent communications between the Owner is essential
for effective property management. United Property Associates has
the training, procedures and personnel to help carry out these functions.
Property management is approached as a business with a business
relationship established and maintained by owners, personnel and
property managers. As a company, as a team, and as individuals we
always strive to meet our responsibilities and, if necessary, go
one step beyond. UPA is a service organization and firmly believe
that we have to earn that title every day. Every aspect of our management
system whether it is daily bookkeeping, meeting the plumber in the
middle of the night, or collecting rent is based on a philosophy
of service and we want to be able to extend this service to you.
United Property Associates can significantly improve your property.
UPA is not a real estate sales company, and does not solicit sales
contracts; UPA is totally and completely in the property management
business.
You will find the management fee structure to be competitive. This,
along with lower operating costs, will mean greater increases in
cash flow for the property's owner.
We look forward to your call, letter, or e-mail to allow us to personally
discuss our outstanding service with you.
Thank you for your interest in UPA.
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