Management & Disposition
Shortly after Four Front Properties takes possession of the property we work with the new property management company (typically a preferred third party management company) to facilitate a smooth takeover of the property’s daily operations. All residents are notified of the new management and ownership, new policies and rules statements are distributed, and the prompt payment of rent is enforced. Furthermore, safety and law and order policies are strengthened and enforced, and typically a security officer is invited to live onsite. Four Front Properties then executes the strategic plan to enhance the property value.
Deferred and ongoing maintenance is addressed and the property is physically improved to a level appropriate to the class of the surrounding area. This is combined with management and operational expertise to minimize costs and waste while enriching the quality of life for residents of the property. By making the property the preferred rental community to live in for the area, Four Front Properties maximizes occupancy while simultaneously improving the quality of the rent roll and thus cash flow.
Disposition of the property is generally expected to occur within 4 to 6 years of acquisition. Our strategy of physically improving the asset, enhancing the quality and livability of the property, operational excellence, and maximization of cash flow allows our investors to benefit from significant forced appreciation.