Provence Real Estate has extensive experience in multifamily communities with a vast network of resources and vendors to provide exceptional property management and other related services. We manage our client’s investments with the same best practices and high standard of professionalism as if we owned them. We believe it is in the company’s best interest to preserve its long-standing reputation to perform our services with integrity and trusted business principles. In addition to conventional management, the services listed below are also part of the company’s profile.
In-house review and inspections are designed to ensure the risks of deterioration are identified and addressed before they affect the value of the investment. Our experienced construction division can be consulted for programs in preserving the investment and maintaining the functional aspects of the property for the long-term.
On-site reviews are completed to determine capital needs; these needs are met through the support of our network of suppliers, vendors and contractors. Provence Real Estate is able to use its economies of scale to secure pricing on capital items and capital projects. The years of reputable business relationships give the company strength in its services and an edge over its competitors.
Due Diligence Services
When our clients acquire new communities, we provide trained personnel and developed procedures for performing due diligence projects. We offer this as a service to clients seeking acquisitions and/or renovation planning. Comprehensive reports detail operational functions, market area review, financial review, budgeting, physical asset analysis and capital requirements.
Provence Real Estate has extensive experience in managing student housing communities and understands the intricacies of by-the-bed leasing. Additionally, our construction division has built on-campus student housing communities.
Accounting Audits/Tax Preparation/Lender Reporting
Our accounting team will coordinate any annual tax preparation and periodic accounting audits that are required for the asset. We have experience working with a multitude of lenders, asset managers, and loan servicers and understand their ongoing requirements for loan compliance.
City and county property taxes make up a large portion of the annual expenses for a property. Provence Real Estate maintains a national network of tax consultants that can appeal the assessed value of your asset when warranted. Previous appeals have resulted in property tax bill reductions of over $100,000.
Provence Real Estate maintains long-standing relationships with several insurance agents. We will bid out the policies for your asset to get the best price and coverage. We are familiar with the complex insurance policies needed in high-risk areas such as coastal regions.
This portion of the operating budget for your asset often benefits the most from proper management. Provence Real Estate has an exclusive utility management program that will maximize income, while reducing expenses. We are an industry leader in maximizing utility reimbursement for our clients.
Provence Real Estate has partnered with Insperity, a national Professional Employer Organization. We have the purchasing power and resources of a network of over 2,000,000 employees. This provides our clients with recruiting services, employee screening, and benefits that attract the top people in our industry to work at our communities. We are able to offer a benefits package comparable to the largest companies.