NexGen Properties Management Methods
NexGen Community Management, Inc. is first and foremost motivated to accomplish their clients’ goals. Our company brings a very different approach to classic property management. As owners and operators of properties we provide our clients with a unique perspective. Our method is to provide a detailed business plan and then achieve each of the budgetary and service goals.
Primary Management Objective
To achieve the financial objectives of the owner and at the same time maintain, preserve, and improve the community while providing focused customer service.
Financial & Accounting Services
NexGen Community Management, Inc. has an accomplished property accounting staff that will provide accurate, easy to interpret, and timely financial statements.
- Monthly Statement Review: NexGen will provide monthly P & L and Balance Sheet with variance explanations.
- Real Time on Line Access: The accounting system utilized by NexGen will allow easy access to financial information on a current basis.
- Cost Control: NexGen & its associates manage residential communities throughout the Tampa Bay MSA. This provides a broad base of purveyor and professional contacts to competitively bid all facets of community maintenance, improvements and administration. Historically we have proven to be innovative in finding cost containment procedures and at the same time increasing the level of service.
- Budgeting: Budgeting is both a science and an art. Our experience over decades of operating residential communities with multiple amenities has demonstrated our ability to consistently achieve the economic budgets that are prepared annually and approved by the Owner.
- Rent Collections: Through the systematic and timely execution of stringent management procedures we have been successful in reducing and minimizing accounts receivable.
- Banking Services: NexGen utilizes all state of the art banking services electronic processing to make collections and accounts payable more user friendly and functional.
Management & Staffing
Property management performance is only as good as the on-site staff and their supervisors. NexGen has always hired the best in class and supported, compensated, and incentivized their personnel to achieve the stated goals and objectives. Our business model and corporate environment promotes longevity, continuity, and self starters who take initiative.
NexGen hires, trains, and supervises all onsite administrative and maintenance staff. Coordinate all workers comp, payroll tax, legal requirements, employee related insurances (Employee Practices, Dishonesty etc.) and employee policies.
Facility Care & Maintenance
Each owner has a valuable asset to protect. It is NexGen’s job not only to conduct basic maintenance in an economical manner, but to enhance the overall community to create additional value. NexGen has engineer’s/contractor’s that will systematically review the infrastructure on regular basis. Part of good maintenance is to anticipate problems before they occur which saves both money and aggravation. We would develop a long range, five year improvement plan that will enhance asset value.
Responsiveness to residents’ maintenance requests is critical. A work order program that will provide detailed cost information and timelines on performed services would be instituted as part of our management approach.
Regular written reviews of the property condition will be prepared.
The measure of our management success is the level of customer satisfaction we achieve as a management team. This objective is paramount to core business philosophy. While we recognize that it is impossible to achieve these lofty goals in each and every situation, we have had a history of meeting the day to day needs of our homeowners.
Communication is essential. Whether it is financial expectations or service related, hitting the planned goals is critical. Responsiveness to resident requests, clear and precise financial reporting, updating the homeowners regarding social and operational plans, helps to manage people’s expectations.
Enforcing the community rules and regulations in an even handed and consistent manor is essential for both homeowners and staff. The overall safety, health and general well being of the residents can be greatly enhanced by the careful and consistent administration of the rules and regulations.
Sales & Marketing
Keeping an active market for new and resales is important to maintain the community’s value. NexGen Mobile Home Sales is a manufactured home retailer , NexGen Community Realty, Inc. is a real estate broker and can provide residents with their resale needs.
As part of the community marketing, a consistent well maintained property is essential to present the necessary curb appeal to attract buyers. Additionally, a community based websites that includes new & pre-owned homes that are for sale is an important tool. Tracking resale pricing to both serve as appraisal data and to provide good insight for sellers to help price their homes is a good service to make available to residents. We will also broker residents’ homes.
Screening and approving potential residents coming into the community is essential to make certain that they meet the community resident underwriting profile.
We provide competitive Manufactured home mortgage financing for Chattel Mortgage (home only) and Real Property (home/share, proprietary lease, deed). Advance mortgage funding available for New Home factory built orders.
Long Range Financial, Market & Physical Plant Planning
Anticipating the needs of the community to provide the greatest care of the common area infrastructure and service to the residents is critical in helping to meet our clients’ expectations. No one likes surprises when it comes to budgeting and planning. NexGen and its principles have been managing residential communities for twenty years. While it is not possible to plan for every eventuality, experience and history provides a good look back to successfully understand the current and future needs of a property. Having a vision of where you would like to see the property can establish the various objectives that need to be addressed each year. Part of this planning is to understand where the development fits into the local market and how to position it to be competitive and produce the greatest possible value for each owner. We would work with the Board to establish a long range plan.
Creative Problem Solving
Probably the most important capability that NexGen brings to any management effort is our ability to economically and promptly solve problems. Issues that languish and are not addressed rapidly frustrate all concerned. Finding innovative cost effective solutions to the daily problems that arise are what make the difference in meeting budgets and controlling expense.