Management Services
THE COMPANY & THE PROCESS
Leyendecker Management Services, Inc. was founded in Houston, Texas in April 2000. The company provides management and marketing services for properties constructed by Leyendecker Building Group, as well as for third-party clients who own multi-family and hotel properties.
Our primary objective is to operate each property efficiently so that goals and objectives are met, while also providing exceptional service to existing residents.
We start by conducting a thorough analysis of the property, local economy and the market in general. Short- and long-term strategies are then prepared, including operating budgets and a management plan designed for the specific property. That’s followed by the development of a strategic marketing campaign and incentive programs tailored for on-site staffs. The final step is a formal evaluation of results, and any necessary modifications to achieve the property’s goals.
With a belief that properties are best managed by those with local knowledge and expertise, Leyendecker Management Services maintains offices in a wide range of markets.
MANAGEMENT EXPERIENCE
Following is a list of Leyendecker Management Services’ combined management experience:
Ballpark III Community Association
Houston, Texas
Baywind Condominium Association
Houston, Texas
Canyon Gate at the Brazos Commercial Owners Association
Houston, Texas
Cinco Ranch Property Owners’ Association
Houston, Texas
College Place Property Owners Association
Houston, Texas
Eagles Landing Apartments
Beaumont, Texas
El Dorado Way Condominium Association
Houston, Texas
Estates of Fannett Development
Beaumont, Texas
Estates of Oyster Creek Owners’ Association
Sugar Land, Texas
Greatwood Property Owners’ Association
Houston, Texas
Hollister Oaks Homeowners Association
Houston, Texas
International Village Apartments
Orange, Texas
Kingsgate Apartments
Beaumont, Texas
Memorial Bend Place Owners Association
Houston, Texas
Memorial Lofts Homeowners Association
Houston, Texas
Memorial Park Village I Community Association
Houston, Texas
Park Regency Condominium Association
Houston, Texas
Pruitt Park Townhomes
Nacogdoches, Texas
Savannah Club Apartments
San Marcos, Texas
Shadow Creek Apartments
Lufkin, Texas
South Shore Harbour Community Association
League City, Texas
S-G Commercial Property Owners Association
Houston, Texas
Summerwood Apartments
Tyler, Texas
Talia Trails Community Association
Houston, Texas
Travelodge Hotel
Beaumont, Texas
University Hill Apartments
Nacogdoches, Texas
University Trace Condominium Association
Houston, Texas
Washington Square Community Association
Houston, Texas
Watercolor Apartments
Baytown, Texas
White Oak Condominium Association
Houston, Texas
COMMITMENT TO SUCCESS
The Leyendecker Group of companies prides itself on providing quality service to our clients.
We believe that it is critical to our continued success to become a provider of solutions. A solution is creating the right mix of products and services for our clients, when and where they need them to help achieve their financial goals. In the end, the ultimate measure of our strategy is the strength of our financial results.
At Leyendecker Management Services, people make the difference. They are our most valuable assets. We continue to attract, develop and retain the best talent creating the right incentives to drive performance. Our success is made possible by the continued dedication of our employees on whom we rely to meet the evolving needs of our clients.
In summary, Leyendecker Management Services offers a wide array of talents and services in the real estate industry. Few other companies provide our depth and quality of service. We are committed to continually adjusting our operations and developing new capabilities to succeed.
KNOWING THE MARKET
An important key to our managerial success is our extensive knowledge of the markets we serve.
We take an active role in the community, including professional and trade associations. We apply what we know about that market, along with what we’ve learned from other markets over the years. The result is a well-informed management team that combines local knowledge with exceptional management experience and expertise. And it’s that team of talented Leyendecker associates that’s our most prized asset. They continuously search for creative, innovative solutions that help our clients reduce operating expenses and increase the value of their investments without compromising the quality of service.
PEOPLE MAKE THE DIFFERENCE
No one sets higher standards for management teams than Leyendecker. We continue to attract and retain the best talent on whom we rely to meet the evolving needs of our clients.
We insist that everyone is highly motivated, expertly trained, and possess the physical and psychological profile necessary for success. We offer incentives to our on-site personnel to maximize performance and results. We hire pros who can overcome objections and close a sale. And most of all, we believe in people with a positive,“Can Do” attitude.
We hire skilled, experienced Regional and District Managers to oversee our high-quality personnel. All new employees are carefully screened prior to an offer of employment. Maintenance personnel are screened not only for mechanical abilities, experience and technical skills, but also for their ability to effectively deal with the residents of a property. And because we believe so strongly in a service-oriented approach to management, Leyendecker people are always a good reflection on our clients and their properties.
Finally, because of changing market conditions and increased liability, we keep personnel informed and properly trained on pertinent issues such as:
- Sales and Closing Techniques
- Resident Retention
- Fair Housing Laws
- Resident Relations/Customer Service
CONSTRUCTION PROJECT MANAGEMENT
Often, our clients have a need for property improvements including renovations, new construction, etc.
Leyendecker Building Group, Inc., has extensive experience in the construction of commercial, residential and multi-family housing. We have the capacity and resources to take a project from initiation to completion, or to step in anytime during the process to assist a client/owner. That extensive experience, combined with our long-term relationships with key construction contractors and third-party professionals, helps keep projects on schedule and on budget, with an emphasis on quality and safety throughout. We’re also very “hands-on” in our approach to construction management, working closely with architects, graphic and signage consultants, and interior design experts to provide an exquisite finished product.
FINANCIAL RESPONSIBILITY
The Leyendecker Group of Companies has a proven track record of financial integrity and fiscal responsibility. Our financially oriented management team has created a system that provides efficient and economic control over the financial parameters of property management. Monthly meetings are conducted to review the expenses of each property. Expenses are comparatively evaluated on both a per-unit and per-square-foot basis, against local and national benchmark data. And all internal audit controls and accounting procedures are geared to meet individual customer needs.
Finally, Leyendecker provides clients a complete range of financial statements and reports, including:
- Budgets
- Budget variance reports
- Income statements
- Balance sheets
- Profit and loss statements
- Complete monthly general ledger
CASE STUDIES
CASE STUDY – Houston TX.
Situation
- 80-unit condominium property located in Houston , TX (near The Galleria)
- Built in 1984
- 68% owner occupied; 32% sub-leased by owners
- 4-member Board of Directors
- Previous management companies either fired by Board or resigned
- City of Houston Health Department issued citations with deadline of 30 days to comply or property would be condemned
- Leyendecker Management Services’ (LMS) contract began 4/1/03
- 19 condominiums for sale at start of LMS contract
Solutions
- Replaced exterior walls with hardi plank siding
- Sealed cracks and openings in courtyard
- Replaced all balcony soffits with hardi plank
- Repainted entire exterior
- Caulked and sealed all windows and doors
- Replaced rotten 2 x 4 beams with 8 x 8 beams in courtyard
- Replaced all garage stairways
- Routed all drains through courtyard floor and connected to main waste drain, thus eliminating majority of prior water damage
- Provided on-site supervision daily during construction process
- Provide management personnel on-site daily to oversee maintenance and cleaning personnel
Results
- City of Houston released citations
- LMS negotiated $500,000 construction bid, thus saving property $450,000 received from prior bids
- LMS negotiated $79,000 paint bid, thus saving property $71,000 received from prior bids
- Increased resale value of condominiums 25% – 30%
- Achieved positive cash flow for Homeowners Association
- Following improvements, only 3 condos for sale (vs. 19 at start of LMS contract)
- Reconciled homeowner maintenance fees to determine delinquencies
- Developed process for addressing and tracking general maintenance issues
- Consistently receive positive comments from Board and owners regarding overall performance
CASE STUDY – Orange, TX
Situation
- 237-unit apartment property located in Orange, TX (near Beaumont)
- Classification: B property
- Built in 2 phases (1973 & 1980)
- Owner-managed until Leyendecker Management Services (LMS) was hired
- Occupancy was 80% when LMS assumed management
- Occupancy averaged 84%
- Resident retention was 50% when LMS assumed management
- Property was run-down and in need of paint, updated carpet and appliances, landscaping and general repairs
- Lease files had not been audited and were incomplete, and personnel files were virtually non-existent
- Community policies for residents non-existent
- Unit had recently caught fire due to resident error
Solutions
- Developed and distributed Community policies and ensured residents were in compliance (if not, they were given notices to vacate)
- Extensively trained personnel in leasing techniques, resident retention, prospect follow-up, payroll, etc
- Hired team for interior and exterior paint, carpet installation, landscaping, pool maintenance and general contracting
- Immediately began working with insurance company to restore fire unit
- Set-up personnel files and implemented various HR policies
- Implemented weekly team meetings for on-site personnel
- Implemented social activities for resident retention
- Successfully negotiated with City of Orange to repair potholes at entrance of property
Results
- Increased rents following upgrades and updates
- Increased rental income 10% per month
- Increased occupancy 11% in 4 months (to 91%)
- Increased leased apartments 17% in 4 months (to 92%)
- Increased resident retention 10% in 4 months
- Prepared 50 apartments, over 3-month period, for new move-ins
- Installed and trained managers on new software
CASE STUDY – Houston, TX
Situation
- A 24-unit gated, detached town home community located in Midtown area of Houston
- Built in 2004 by Juliet Homes
- Priced in the high $200s
- Young, professional demographic (average age of 35)
- 22 owner-occupied, 1 leased, 1 for sale
- Association is run by the Owners
- Association was being managed by local management company
- Current Association assessment was not enough to cover property expenses
- Board was dissatisfied with current management company, specifically slow response time, incapability to resolve
- Issues and inconsistent financial reporting. Board was also dissatisfied with vendors hired by management company (i.e., landscaper, etc.).
Solutions
- Prior to commencement of Leyendecker Management Services (LMS) Agreement, scheduled and attended a transition meeting between Board, LMS and previous management company
- Prior to commencement of Agreement, Board and LMS attended bank meeting to open (2) new bank accounts
- Immediately hired new landscape company at a monthly savings of $118.00
- Obtained credit from prior landscape company for (2) missed seasonal plantings and (1) missed mowing
- Designed and implemented landscape enhancements to property
- Within a short time period, completed many maintenance and operational projects that previous management company had been unable to resolve, including:
- Down cable lines repaired
- Lost water meter found
- Cancellation of builder utility accounts
- Repaired leak on entrance street to property
- Researched and implemented new insurance policies with 10% – 15% savings to HOA
- Developed procedures, and implemented fines, for violations adding new source of revenue for HOA
- Collected a special assessment to ensure solvency (paid by all owners)
- Established HOA forms to facilitate service requests and Architectural Control requests
- Established an HOA complete record file with inventoried documents
- Affected a $3400 annual savings in operating expenses with new contracts
- Prepared monthly financial reports
- Established $10K Interest Bearing Asset Reserve Fund
- Created an operating budget, as well as breakeven operation cost analysis
Results
- After the initial 12-month term, the Board requested a 36-month agreement to illustrate the Association’s desire for a long-term relationship with LMS.
- Board has recommended LMS to other Juliet Homes Community Associations