The Lofty Experience represents a diligent process that incorporates an understanding and ability to evaluate a potential investment by dissecting every component and probability, ensuring a proper conclusion when evaluating the asset as a whole. You can’t accurately value a property simply based on age, income or area trends. To properly value any investment, you must have a complete and total understanding of all related matters and conditions. Every mechanical and administrative detail can influence both short and long term gains. If these details go unchecked and unanticipated, the investment projections and cap rates will quickly depreciate.
The Due Diligence process provides the specific data utilized to configure each asset an Operational/Investment strategy constructing a path for further improvement and potential growth. We’re committed to exploiting every potential means of reducing expense and increased revenue, both are equally important to get the most value and overall success from any investment. Our success comes from a proven system that in order to make the most of an investment, you must consistently evaluate possibilities, potential revenue sources and have a complete understanding of the market conditions in the surrounding area.
We are constantly gathering data to make informed decisions on rate increases, utility reimbursements, expense bill backs and maximize on the unlimited potential in miscellaneous income. In addition to maximizing revenue potential, we take a truly unique method to control expenses. We have developed Maintenance programs for training and education that enable our Technicians to complete tasks that are generally considered contractor projects. These programs provide us a unique ability to care of our residents and communities in a much more thorough and cost effective manner. We evaluate every project, task and job to determine the scope of work, including materials and labor before making the decision to contract or complete in-house. For projects that are deemed more suitable for third party contracting, we bid out and negotiate the terms of all agreements and contracts from our corporate office to ensure the scope and terms are situated to best meet the needs of each individual asset. At Lofty, we build relationships with vendors that understand our management style and expectation of service. For each property and service, we create vendor agreements that allow us to set and lock in pricing to avoid the thousands of various up-charges and add-on’s most Vendors use to increase their bottom line. With most Management Companies these vendors go un-checked and ill managed, we at Lofty make it our priority to evaluate and manage these costs with only our assets best interest in mind.
Our proven ability to increase revenue and reduce expense is a result of relationships and aligning the right people with the right property. One Property Manager can harm or heal you and one Management Company can make or break you. A higher level of commitment is required in order to achieve a higher level of success and our commitment has been reflected in the success of our communities for decades!