Class A Multifamily Property Management Services | Maximize NOI

Transparent, effective, professional management of large multifamily communities with the industry’s best reporting. Summit Management Services, Inc. has been providing outstanding returns to investors for over 35 years and brings our successful model to the Washington DC Metropolitan area. Contact Elan Krueger (ekrueger@summitmanagementservices.net) or (301) 970-9276 for a free property analysis to see if we can boost your IRR and cash flow.

With over 35 years experience in property management and currently over 4,000 units under management across several states, Summit Management Services, Inc. has the depth of knowledge to maximize the return on your multi-family property investments. We have developed the Summit Model to sustain rents and occupancy at a high level and have consistently returned strong cash-on-cash returns to the owners of the properties we manage.

The Summit Model, involves taking a selective approach to manage properties in secondary and tertiary markets, making tenants and their families feel at home through superior customer service, utilizing all available technology to market each property, leveraging our purchasing power and comparing costs across properties to identify inefficiencies, continually looking for opportunities to add value through the smart investment of capital to increase returns, and incorporating state-of-the-art software for management, financial and investment reporting.

Leasing

It all begins with leasing and, in particular, marketing the property. We understand that our tenants live in a “wired world.” Accordingly, we advertise on all major Internet search engines and social networks including Google, Yahoo, Facebook and Twitter. In addition, we use several national apartment sites to drive traffic.

  • Leasing staff is available seven days a week
  • Uniformed maintenance personnel are cross-trained to show units to prospective tenants
  • All staff, at all levels, attend mandatory biannual training sessions to keep abreast of all Fair Housing and ADA compliance, laws, rules and regulations
  • Because higher tenant retention simply means lower vacancies and higher profits, we constantly monitor the upcoming lease expirations. As far in advance as 120 days from lease expiration, we begin to re-market the unit to the existing tenant. If we know a tenant will not be renewing their lease, we aggressively market the property for pre-leasing.
  • SMSI requires tenants to provide 60-days notice to vacate their unit which maximizes time to replace tenants leaving our properties. We are able to “turn” a unit for a new tenant in as little as five days, including cleaning, painting and repairs.

Maintenance

Our uniformed maintenance personnel are the face of SMSI. They are carefully selected for their skills, attitude and ability to interact with tenants in an effective and courteous fashion.

Their communication skills are critical, because they are available to answer tenant service calls 24 hours a day, seven days a week, including the inevitable 3:00 a.m. “I lost my key” call.

Tenant Relations

Critical to the SMSI operating strategy is making residents feel at home and building a sense of community. We provide welcome baskets to tenants when they move in, and include information about local businesses. We hold frequent tenant coffees and barbecues in building common areas. Our website links residents to our Yardi property management software portal, allowing them to pay online, view their account, request work orders, communicate with SMSI staff, and link to each other and their community. We encourage resident participation in community and neighborhood events.

Reporting

Effective financial management is enhanced through our state-of-the-art, web-based, property management software (Yardi Voyager), giving staff capable solutions and access to numerous reports. Our high level of service is achieved by utilizing the most technologically advanced systems available. SMSI produces monthly financial reports including detailed analysis of profit and loss along with budget variance analysis. Quarterly detailed financial statements are generated in a timely manner and may be customized at the investor’s request. Annual reports are audited by an outside accounting firm.

Capital Improvements & Insurance Claim Management

We are experienced in managing capital improvement projects such as in-unit renovations and major infrastructure upgrades. Our experienced team looks for the most cost effective capital improvements to generate returns to investors, looking “to spend a dollar to make two”. We also handle insurance claim administration on behalf of the owners should the need arise.

Management Inquiries

Elan Krueger

VP of Business Development for Summit Management
(301) 970-9276

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