Apartment Management
MANAGEMENT SERVICES
CKT understands the relationship between the good management of an apartment community and the project's value. All possible income is maximized, while expenses are kept to a minimum without compromising the quality or success of the project. Annual operating budgets are prepared in comprehensive detail, and a portion of employee compensation is based on compliance with, or improvement upon, such budgets. Routine maintenance and repairs, as well as capital improvements, are recommended and incorporated into the budgets to avoid the excessive costs that can be associated with the deferment of proper maintenance. Service providers, suppliers and contractors, when needed, are subjected to a competitive bidding process by CKT, and local market experience allows CKT to access the most capable and quality-conscious vendors while achieving competitive prices. CKT also carefully hires, trains and supervises its property teams, and CKT's management team works diligently to enhance the lifestyle of each of its residents.
LEASING
CKT utilizes numerous strategies to achieve the highest occupancies for its managed projects while maintaining maximum income. Successful leasing techniques include, but are not limited to:
- detailed marketing plans;
- monitoring and structuring of rents on an individual unit basis;
- frequent surveys of competitive properties to track submarket trends;
- resident retention through exceptional management, rapid response to resident requests, social events and other lifestyle services and amenities;
- employee training in successful leasing, closing and customer service techniques;
- employee incentive programs to additionally motivate the teams to perform at their maximum potential; and
- tracking of all leasing and prospect activity.
MARKETING
Marketing plans are individually tailored to meet the needs of each project. CKT is experienced in all areas of rental apartment marketing, including the design and writing of brochures and advertisements, websites, Internet marketing, search engine optimization, social media marketing, community outreach marketing, and consulting on appropriate unit mixes and proforma rents and expenses for planned developments and acquisitions. Comprehensive local market and submarket knowledge is combined with detailed analyses of the leasing traffic visiting each property to determine the proper marketing tools for each specific community. Marketing dollars are carefully directed to the most successful advertising and marketing sources in relation to the number of leases actually attained from each source. Existing residents and their referrals are also considered valuable prospects, so the management staffs make every effort to keep residents happy and lease renewal percentages high.
MAINTENANCE
The preservation and enhancement of assets are very important to CKT. CKT utilizes a comprehensive preventative maintenance program with daily, weekly and monthly tasks to be performed. Cleanliness of the buildings, amenities and grounds is also a high priority.
An effective preventative maintenance program reduces calls for service by as much as 80 percent, prolongs the life of equipment and helps reduce expensive vendor costs. Preventative maintenance also decreases the need for expensive after hours emergency services and allows for better time management of staff.
CKT provides a 24-hour maintenance guaranty when responding to resident service requests, and resident satisfaction with property maintenance directly contributes to higher renewal rates.