Management Philosophy The Commercial management philosophy of Drought Properties Inc. stems from the premise that top-notch management is vital, if not, the most important part of the real estate investment process. Achieving exceptional results in today's complex real estate environment requires the commitment of a professional management team. Because of our commitment to excellence in property management, we have put together a team of individuals that are dedicated to being the best in their fields. Not only does our staff stay abreast of technological changes, government and code compliance changes, but we also realize the importance of sound business practices and the need to take a human approach when dealing with all Tennants/residents of the property. Our starting point in designing a management program for a particular property is to first determine the owner's specific objectives.

Developing the Marketing Plan

A complete market study of competing properties is conducted to determine your property's position in the market place. The study includes current rental rates, unit size and mix, condition of the properties, location and other material items that have an effect on the marketing of your property. Using your goals and objectives, we develop a marketing plan to achieve the results you desire.

Budget Implementation and Monthly Reporting

Realistic income and expense projections are determined through research that provides the owner with a yardstick to measure the performance of the property. Our staff is knowledgeable of the cost of goods and services and is continually aware of potential changes in the market that could affect the budget projection. The budget is reviewed by our staff monthly with any variances in the budget reported to the owner in our monthly report. Accurate and timely reports are generated monthly by our automated systems for all income and expenses and compares the current month to the budget. Rent roll, monthly update, traffic conversions and renewal retention are several of the forms that accompany the monthly accounting to keep the owner informed of our progress.

Quality Staffing

The success of your property depends on the people who are selected to carry out the daily management of your property. Drought Properties Inc. uses an in depth screening process to ensure quality staffing. During the screening process, we look at educational background, experience in the field, personal appearance, and matching the correct person with the right property. The staff is continually monitored by shopping reports, reviewing closing ratios, and constant supervision by our Property Managers. Education of our staff is on-going and includes sales training, problem solving, collection, preventative maintenance, public relations and many other topics that contribute to our staff's expertise and ultimately, your property's success.

Maintaining the Property Drought Properties Inc.'s staff is extremely knowledgeable in all phases of Property Maintenance, from preventive to new construction. We have supervised rehab projects in excess of $400,000.00 with very successful outcomes. Your property is routinely inspected by our Property Managers to detect preventive maintenance items as well as to ensure that all workmanship performed is of the highest quality. One of the major reasons for tenant turnover is either poor maintenance or slow response to maintenance requests. We monitor all maintenance requests and measure tenant satisfaction through personal contact, questionnaires and daily inspection of work being performed. Our staff is capable of diagnosing a problem without calling expensive plumbers, HVAC, and other outside maintenance people to diagnose the problem for us. Equipment failures such as HVAC, appliances and plumbing are carefully evaluated to determine the cost effectiveness of repair versus replacement. In summary, the knowledge and experience of our staff in maintaining your property will improve the bottom line.

Marketing the Property

Drought Properties Inc. believes that first impressions are lasting impressions; therefore, our main objective is to ensure that the property projects a well maintained appearance at all times. Using the marketing plan, we identify our clientele and market the property to that clientele using signage, selected advertising and mail outs. We develop professional marketing materials such as floor plans listing the amenities of the property, brochures and other marketing tools to enhance the marketing efforts. Our staff personally visits with apartment locators, military housing offices and residents of the property to promote referrals.