Franklin Street Management Services manages multifamily and commercial properties. We are dedicated to continuously achieve the highest possible NOI for each asset through our aggressive hands-on management platform which is custom tailored to maximize the performance of each asset.
For clients who are exploring a property acquisition, Franklin Street Management Services conducts an in-depth analysis of the property’s income and expenses, a lease file audit, a market comp survey, and a physical condition assessment. Based upon our findings, we then advise our clients as to the accuracy of their initial underwriting assumptions.
Marketing and Leasing
Most often our clients define success as increasing their property’s income and collections. After first performing an internal property audit and a market analysis of competing properties, Franklin Street Management Services develops a marketing plan that includes a pricing strategy, an advertising campaign, a physical improvement plan, a resident retention strategy, an education training plan for on-site staff, and corresponding performance metrics. For a commercial property, our management team collaborates directly with our landlord leasing team in the preparation of a written Strategic Leasing Analysis with specific initiatives and measurable goals.
Whether a property requires an exterior facelift, interior remodel or a tenant build out, Franklin Street Management Services has a qualified team in place to serve as construction manager. We maintain a solid network of trusted vendors from whom we solicit bids to ensure a project is completed on time and on budget. During construction, we continue to focus on tenant relations, including current tenants and potential new tenants as part of a property repositioning plan.
Successful business relationships rely on mutual accountability, open communication, and the delivery of accurate, comprehensive data. As a part of our commitment to safeguarding our clients’ assets, Franklin Street Management Services delivers monthly report packages that include a robust accounting of the property’s financial condition along with written commentary regarding leasing activity, maintenance items, market conditions, and other noteworthy information. Our reports present the data in a clear and concise format with valuable insights that can be leveraged to benefit the asset.
REO and Receivership:
Franklin Street Management Services is very adept at stabilizing financially and/or physically distressed assets that are either Real Estate Owned (REO) or under receivership. In addition, we have a solid resume that reflects our many assignments as court-appointed receiver on behalf of lenders and special servicers.