Entries Tagged 'Investing' ↓

City of Phoenix is the capital of the state of Arizona. It is the state’s largest city with over half of the total state population living in the city. As per the U.S. Census Bureau’s latest estimates, Phoenix is the sixth-largest city in the United States. In the last ten years, the metropolitan region has grown by thirty four percent, making it the eighth fastest growing metropolitan region in the nation.

Historically, the city’s economy was primarily agricultural but in the last two decades, the economy has diversified a lot because of the growing population. Being the state capital of Arizona, lot of residents of the city are state government employees. Recently, a number of technology and telecommunications companies relocated to the area.

Recently, the Phoenix housing market has gone through a housing boom. The home prices have appreciated as high as 50% in the past one year. The current median home price in Phoenix is $268,000. The strong population growth has led to rise in home prices and lots of people are forced to live in professionally managed apartments. Some of the professional management companies in Phoenix are listed below:

1. Parker Finch Management
Parker Finch Management Company manages homeowners and condo association with more than fifty units. Parker Finch Management has a team of highly trained and educated managers who undergo rigorous training programs and well versed with compliance inspection procedures and other intricacies of property management. Parker Finch Management extensively leverages technology in their operations and with professional team assigned to every community they excel in their service offerings.

2. Ogden & Company
Address: 5725 N. Scottsdale Road Suite C-100, Scottsdale, AZ 85250

Like the Parker Finch Management Company, Ogden & Company also manages homeowners and condo association with more than fifty units. Some of the services provided by Ogden & Company include:

• Community Inspection: A manager from the Ogden & Company performs inspection on a monthly basis and provides a detailed report to the property owners.
• Maintenance of common facilities of the property are performed by the Ogden & Company. This also includes securing vendors, negotiating with them and working with the tenants to plan out a convenient time for carrying out any repair work.
• Collection of rents and management of delinquent payments and tenants.
• Preparation of detailed monthly reports to inform the owners of the financial performance of the property.

Arizona law suggests that a management company with broad responsibilities regarding management of a property or management of an association may prepare legal documents that are incidental to the management of the property pursuant to Rule (c) (19). However, if a company does nothing but prepare eviction notices or notices of breach of contract for property owners, such work would not be incidental to the company’s regular course of business and would not fall within the exception established by Rule 31 (c) (19) regardless of whether such a company called itself a management company or not.

Before New York was divided into twelve counties, Nassau was part of Queens County and was contained in the towns of Hempstead and Oyster Bay. Nassau County is a suburban county in the New York Region located east of New York city. The population of the county was 1,334,544 in 2000. Nassau and Suffolk counties together are referred as “Long Island” As per the 2004 census data, Nassau County is the richest county per capita in the State of New York and the sixth richest in the nation, with a median household income of $78,762. Nassau has a primarily European descent demographic
The economy of Long Island has long benefited from its proximity to New York City. Between 1930 and 1990, Long Island was considered one of the aviation centers of the nations, with companies such as Grumman Aircraft and Sperry Gyroscope having their headquarters and factories in the area. Grumman has been supplying top warplanes to the U.S. Navy and the Marine Corps. Long Island economy has also benefited from scientific research and engineering.
Long Island has been renowned for affluence and has one of the most expensive homes in the country. The current median home price for Long Island metro is $475,000 which is well above the national median home price of $217,900. There are a certain percentage of renters who prefer living in the apartments managed by professional management companies. Some of the property management companies in Nassau are discussed below:
1. Cervelli Management
Address: 7800 River Rd, North Bergen, NJ 07047

Cervelli Management manages condos and homeowners association that are up to or more than fifty units, multi family complexes that are up to or more than a hundred units, retail units that are up to or more than a hundred thousand square feet, office space that are up to or more than a hundred thousand square feet and ware house distribution facilities that are up to or more than a hundred thousand square feet. They also manage light manufacturing facilities that are up to or more than a hundred thousand square feet.

Some of the services provided by Cervelli Management include screening potential tenants, collecting rents from exiting tenants and assessing penalties to those tenants who are late in making their payments. In addition, Cervelli Management also provides accounting services that include preparation of monthly reports showing the income generated by the property and the vacancy rates.

Cervelli Management also performs maintenance of the property including providing twenty four hour emergency services and regular upgrades as and when required. Lease administration including marketing vacant units and lease renewals are also provided by Cervelli Management.

Cervelli Management also provides customer management services like taking calls and inquires from association members, following up with tenants and performing property inspection to make sure that the property is in compliance. Cervelli Management also prepares bid specifications that are sent to vendors for providing maintenance or professional services.

The other property management companies present in Nassau also provide similar services.

The City of Chicago, Illinois is the largest city in the State and the third-most populous city in the United States. It has an estimated population of 2.8 million people. Chicago is located along the southwestern shore of Lake Michigan and is also known as the “Windy City”.

The City of Chicago has the third largest gross metropolitan product in the nation. Due to high level of diversification the city has been rated the most balanced economy in the nation. The City of Chicago is a major financial center only second to New York’s central business district. Some of the other major employment industries contributing to the economy of the city are printing and publishing, and food processing.

Housing affordability has become a matter of concern in the City of Chicago because of its growing economy. The current median home price for Chicago County is $264,000. A lot of households in the area prefer to live in rental housing managed by professional management companies. Some of the professional management companies in Chicago are listed below:

1. Allegiance Property Management
Address: 1400 W Devon, Ste. 275, Chicago, IL 60660

Allegiance Property Management manages single home or condos that are less than three hundred thousand dollars and multi family units that are from two to four units to more than a hundred units.

Services provided by the Allegiance Property Management company include administration of lease, maintenance and operations of the property, administration of contracts, conducting due diligence, billing and collection, marketing of vacant units at the highest market rents, supervising repairs, twenty four hour emergency service and prompt disbursement of the collected rents.

2. Barrington Partners, LLC
Address: 22 East Cullerton Street, Unit #1, Chicago, IL 60616

Barrington partners LLC property Management Company manages condo and homeowners association that are more than fifty units, retail units that are up to or more than ten thousand square feet, office space that is up to or more than ten thousand square feet and ware house distribution facilities that are less than a hundred thousand square feet.

Typical services provided by Barrington partners LLC include creating a management plan to address the management’s goals and vision, developing a maintenance plan, preparing rules and regulations, creating a competitive bidder list, managing reserve requirements and operating budget.

3. Homeowner Association Services
Homeowner Association Services property Management Company manages homeowners association that are up to or more than fifty units and provides the following services to its clients:

• Membership administration services which include billing and collection and tenant management.
• Business and financial services which include tax filing, preparation of monthly reports and managing accounts payable
• Education and training services of homeowner association board and leadership through classroom training web based training or even regional training.

4. Brea Property Mgt Of Illinois
Address: 200 E Randolph St, Chicago, IL 60601

5. Camco Inc
Address: 175 N Harbor Dr, Chicago, IL 60601

6. Chicagoland Management & Rlty
Address: 225 N Michigan Ave, Chicago, IL 60601