ffres property management services
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FFRES Property Management ServicesTRANSCRIPT
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Property Management OverviewTh
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Property Management Overview
Fairfi eld is proud to be an all-inclusive management services company with over
25 years of experience that offers you an unsurpassed depth of expertise and
resources.
Fairfi eld is among the most experienced multifamily real estate operating
companies in the United States. We are proud to have earned an outstanding
reputation as an expert in managing a wide variety of properties including new
construction, luxury market rate, redevelopment and value-added properties,
university student housing, and affordable housing communities. Fairfi eld’s
expertise ranges in properties of all sizes, from 50 to over 1,000 units, as well as
all asset classes, product types, ages, demographics, and geographies.
As of January 1, 2011, Fairfi eld managed 46,850 apartment homes including
nearly 3,260 university student housing “beds” across the U.S., and ranks 17th
on the most recent NMHC list of the top 50 property management companies.
Our corporate and regional offi ces are strategically placed throughout the country
to best serve our portfolio, operations, clients, and partners. We have earned
the trust of a wide range of clients including fi nancial institutions, pension funds,
private partnerships, foreign investors, and sole owners. We are proud to deliver
measurably superior results with a customized and personal approach to each
property.
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Our property management mission is to be an outstanding
partner to each of our customers. Our stellar reputation and rich history continue to drive us
to maintain the Fairfi eld difference, and to continuously improve and service the needs of our
employees, residents, business partners, clients, and neighborhoods.
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Fairfi eld Property Management is pleased to offer our clients a full array
of services. By taking advantage of these, you receive the full benefi t of
Fairfi eld’s expertise and partnership.
- professional management operations with a dedicated team that manages like owners
- state-of-the-art and individually tailored accounting services
- marketing and media services
- property maintenance programs
- audit and compliance functions
- outstanding resident services
- information systems support
- employee development and enrichment opportunities
- human resource expertise
- market research
- client insurance program
The unique Fairfi eld business approach combines the strength,
effi ciencies, and resources of a national company with superior local
market expertise to consistently achieve the highest value and return for
our clients and outstanding living environments for our residents.
Think of your market as our market. Fairfi eld employs approximately
1,800 dedicated associates: We are the perfect size to take the best
care of your properties – big enough to offer exceptional expertise and
effi ciencies, but not so big that we cannot offer you customized attention
and focused implementations of your property management and value-
add strategies. Strong leaders and experienced on-site teams, coupled
with our range of services, make us the best choice for managing your
property. You can rest assured knowing you have the expertise of
hundreds of associates diligently working on your behalf.
Our associates are competent in all aspects of property management,
from fair housing requirements and asset maintenance protocols, to lease
term management and resident retention strategies. This enables us to
maintain your asset at its highest performance level, while continuing to
improve your NOI.
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Our Management Company slogan:
“Experience the Fairfi eld Difference”
Property Management Overview15
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Our slogan is “Experience the Fairfi eld Difference,” and our mission is to
be an outstanding partner to each of our customers. Our stellar reputation
and rich history continue to fuel our drive to maintain that Fairfi eld difference
and continuously improve our service to our employees, residents, business
partners, and neighbors.
Much of “the Fairfi eld Difference” lies in our people. We are proud to have
assembled a team of highly qualifi ed and well-educated property management
professionals.
What distinguished Fairfi eld from our competitors, and what is the “Fairfi eld
Difference”?
Our People
We recruit, hire, train, and motivate our people to be the best they can be.
Our Residents
We provide the highest level of customer service, making a Fairfi eld community an outstanding place to live, resulting in better than market retention rates.
Our Partners and Clients
We achieve the highest return possible for our investors and partners.
Our Neighborhoods
We partner and participate in our local community with a commitment to creating better living environments.
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Property Management OverviewM
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Our People – Our Fairfi eld associates are an integral part of our company’s foundation. With unmatched support and resources from a long-established company, our employees can grow and develop with abundant opportunities for success. Outstanding resources and recognition programs ensure distinguished associate team members. Fairfi eld associates not only provide extraordinary customer service, but they manage like owners and have a deep commitment to the client’s success. We provide an unparalleled employment experience for our associates, which results in having the best talent in the industry to manage your assets.
Our Residents – We strive to provide our residents with a phenomenal home of comfort, convenience, and service. Our dedicated, friendly on-site teams, and our reputation of outstanding service, combine to create the lifestyle and kind of community desired by our residents. We strive to offer the perfect blend of individualized, personalized customer service and advanced technologies for resident satisfaction and effi ciency.
Our Partners and Clients – You can rely on us to adapt quickly to the diversity of individual owners and markets through sound leadership, extraordinary industry expertise, and our steadfast commitment to serve. Fairfi eld successfully engages a total team with the highest integrity committed to creating value for your asset and producing positive returns on your investment.
Our Neighborhoods – We engage in each of our local communities by offering programs, volunteer time, and resources to create better living environments. In addition, our associates are encouraged to participate in community betterment programs including Habitat for Humanity builds, crime prevention program involvement, pet adoption partnerships, food, toy and blood drives, and more. In addition, Fairfi eld was an industry leader and trademarked the Living Green® program with a focus on green alternatives. Fairfi eld is committed to providing energy-effi cient and sustainable housing wherever possible.
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Brent A. Ball, Senior Vice PresidentMr. Ball joined Fairfi eld in 2002 and oversees Fairfi eld’s national property management division and
asset management functions. Brent is responsible for strategic planning including the establishment
of long and short-term investment goals, fi nancial projections, operations performance and
implementation of investment strategies.
Prior to his employment with Fairfi eld, he served as vice president of asset management at The Archon
Group, a wholly- owned subsidiary of Goldman Sachs. There he was responsible for the business
activities of a 30,000 unit apartment and mixed-use portfolio of properties throughout the western,
central and southwestern United States. At Archon, he managed offi ces in Dallas, Houston, Denver
and Los Angeles with an emphasis of acquisitions, asset management and asset repositioning.
Brent received his BA from The University of Texas at Austin.
Kim Bender, CPM®, Senior Vice President (West and Mountain Southwest)Ms. Bender joined Fairfi eld in 2001 and is responsible for all property operations for Fairfi eld’s West
and Mountain Southwest regions.
Her multifamily background spans 23 years and includes experience with both privately held
management companies and REITS. Kim has experience in managing conventional apartment home
properties, as well as affordable housing communities.
Kim began her career in property management with Hall Financial Group, Inc. Subsequently, she
worked with National Housing Partnership Incorporated (NHP) and oversaw assets for The NHP
Foundation. As a result of the AIMCO purchase of NHP, Kim began supervising AIMCO properties in
both Texas and California.
Kim holds her NCP-E (National Compliance Professional- Executive), CAPS (Certifi ed Apartment
Property Supervisor), and a CPM designation with the Institute of Real Estate Management. She
received her education at North Lake College.
Property Management Services - We are Your Fairfi eld Team
Senior Vice President
Brent Ball
SVP Eastern Division
Terry PhillipsSVP Western Division
Kim BenderVP Business Development
Daniel Bauman
Professional Management Operations with a Dedicated Team that Manages Like Owners – Your Success is Our Success
Brent [email protected]
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Daniel Bauman, Vice President Business DevelopmentMr. Bauman is responsible for business development, which includes representing Fairfi eld’s third-
party service platform, as well as identifying and executing new business opportunities. He joined
Fairfi eld in 2005 after working with Fairfi eld as a client for several years.
Daniel offers more than 20 years of real estate experience, including expertise in advisory services,
asset management, property management, and dispositions. During his tenure with Fairfi eld, he
has served as vice president of asset management, Mid-Atlantic, where he was responsible for
a portfolio of newly developed communities throughout development, lease-up, and stabilization.
Daniel has been responsible for the disposition of nearly $600 million of real estate, including
traditional multifamily, student, and condominium communities.
Prior to joining Fairfi eld, Daniel was a senior vice president with a Washington, D.C. based real
estate company that exclusively provided fee services to third-parties.
Among his most noted accomplishments, he established a new business platform that provided
real estate advisory and property management services exclusively to developers. This platform
provided these services to a portfolio of 300 assets, representing 30,000 units, from a client base of
100 developers.
Daniel graduated from the University of Maryland with a BA in urban studies with a real estate
specialization.
Terry Phillips, CPM®, Senior Vice President (Central, Northeast, Southeast)Ms. Phillips is responsible for all property operations for Fairfi eld’s central, northeast and southeast
regions. She has 27 years of experience that includes conventional, affordable and student
portfolios. She joined Fairfi eld in February of 2000 as vice president of eastern operations where
she was responsible for the takeover and management of new acquisitions. That portfolio grew to
over 32,000 units from 12,000 units.
Terry’s career began in 1983 when she joined Trammell Crow Residential (now Gables Residential
Trust) and moved through the ranks to become a regional manager and vice president. In 1996,
Terry joined AMLI Residential as vice president for the southwest region and was responsible for
setting up the management infrastructure for AMLI’s largest region.
Terry has served in the Apartment Association of Greater Dallas (AAGD), holds a CPM designation
from the Institute of Real Estate Management, and has a real estate license in the state of Texas.
Terry received her education at East Texas State University.
Daniel [email protected]
Terry [email protected]
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Property Operations
Property OperationsOur approach to operating your property is designed to achieve the goals and objectives of each property owner. Fairfi eld prides itself on management services that focus on protecting your investment and maximizing your return by maintaining your properties in excellent condition, while our executive, regional and on-site management teams offer innovative ways to maximize income and reduce expenses. To this end, our seasoned property management professionals develop and execute detailed management and marketing plans, positioning your asset to reach its optimum performance.
We provide the highest level of service to our clients by responding to their needs in a timely and professional manner. Regular contact and communication with you allows us to create a strong partnership and focus on success. Our comprehensive presentation of annual operating budgets provides the opportunity to review past performance and make adjustments based on your additional objectives.
Highly detailed operations manuals that include policies and procedures for leasing, marketing, operations, maintenance, safety and risk management, affordable compliance, and environmental issue responses are readily accessible electronically to guide actions and behaviors, and to ensure adherence to standards in the workplace.
Lease Management We pride ourselves in the elaborate Yardi™ platform and integrations we offer that allow us to operate your property to achieve your goals and objectives. Our investment in technology not only makes every Fairfi eld employee more effi cient, it provides piece of mind knowing that industry-leading tools and technologies are supporting your asset. Our IT, training, and operations specialists provide software support to on-site personnel and continuously upgrade to the newest and most innovative technologies that align with the business goals of your property. We are excited to offer Yardi integrations with Property Solutions™ and RealPage CrossFire®, which allow our team members to effectively and effi ciently market, lease, and manage your community. The key to our technological success is in the ability to customize Yardi and build custom reports integrated with other applications – this means we can offer you start- to-end solutions.
Yardi VoyagerYardi Voyager allows us to manage our entire operation effi ciently and competitively on one centralized platform. Fairfi eld uses Yardi Voyager for call center, pricing and online leasing for website applicant screening, utility billing, and revenue management. Among its benefi ts are: - outstanding effi ciency, automated processes, and a full suite of custom reports to meet company and client requests - web based platform offering comprehensive and real-time information, and the ability to expedite reporting - easy access to monthly operating reports that keep you in touch in an instant and on demand - uploads to your chart of accounts through mapping that can be imported into any property management software
program - interface programs providing a seamless way to exchange important information among applications without having
to re-key identical data – reduces keying errors and decreases processing time - advanced budgeting module maximizes profi tability by increasing accuracy and effi ciency of budget projections --
streamlines budgeting and provides budget-to-actual-to-forecast comparative reports - simple remote access for multiple users can access the software simultaneously without the expense of per user
licensing - ease of use for front-end users with full support and training provided by Fairfi eld’s IT, training, and operations
professionals
- long-term relationship with Yardi allowing optimal pricing
Fairfi eld will gladly provide training to our investors on running reports in Yardi.
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Property SolutionsProperty Solutions has allowed us to create an elaborate website offering a multitude of services ranging from rent collection, maintenance requests, real-time availability, applications, and online leasing to our prospects and residents. Highlights of Property Solutions software include:
• ProspectPortal - integrated with Fairfi eld Yardi platform, provides real time pricing and specials – no double entry of
content by onsite team with incredible reporting options showing current and previous postings and activity
- guest cards entered through website are pushed through to Yardi, which simplifi es follow-up and tracking for on-site team
- offers true online leasing with real time availability - sets online availability alerts if prospect is looking for a specifi c apartment and has move-in date
fl exibility
• ResidentPortal - online payment using ACH or credit card - view account balance - maintain work order requests - setup utilities prior to move-in - transfer utilities
• Marketing - Fairfi eld properties that use Property Solutions are enveloped in a larger umbrella of internet marketing
under the Fairfi eld-properties.com home page - engaging content - demographically sensitive content with Walk Scores®, interactive Google maps, real-time availability, e
brochures, and interactive fl oor plans - social media growth options - online chat option
• MobilePortal - important with increased use of mobile devices as more residents and prospects use the phone for their
mobile browsing needs - by quickly scaling to smart-phone proportions, MobilePortal puts all of the features of our full-sized
website at prospects’ and residents’ fi ngertips anytime, anywhere - residents can use their phone to pay rent or submit a maintenance request - prospects can access property information, photos, real time availability, and even lease online using
their phone - residents and prospects no longer need a laptop or Wi-Fi network to connect to us
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Crossfi reDid you know that 40% of leasing calls go unanswered at an apartment community? Properties using the CrossFire Contact Center have 97% of their calls answered. The CrossFire Contact Center is a team of professionally-trained, multifamily agents who are available 24/7 to lease more apartments by answering phone calls and emails. CrossFire gives complete lead-to-lease visibility by providing unique toll-free numbers and email addresses along with enhanced management reports that allow us to optimize marketing dollars by tracking marketing sources.
CrossFire works as an extension of our on-site leasing staff to: - answer questions about the community - set appointments for tours - qualify lease candidates - process service requests for current residents - handle emergency maintenance communication after hours - email leasing campaigns to leads - push through guest cards automatically, eliminating content double entry and allowing for up-to-
date lead contact information - custom track and report additional feedback on effectiveness of marketing sources and leasing - expedite service requests, increasing resident satisfaction - listen to call recordings from site and CrossFire agent answered calls for training purposes
Rainmaker LRO™ Fairfi eld also offers Rainmaker LRO™, which is a high-successful profi t optimization solution that enables Fairfi eld to maximize revenue from apartment leases. LRO uses advanced mathematical modeling and statistical methods to accurately forecast availability and demand at the unit type level, resulting in optimal pricing for both new leases and renewals. By combining Fairfi eld’s operational insight with the optimization capabilities of LRO, our clients continue to experience improved overall performance and revenue maximization.
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Resident Satisfaction and RetentionFairfi eld places great value on resident retention, renewals, and controlling unnecessary turnover at our properties. Starting at move-in and throughout residency, we have an ongoing customer feedback system that allows us to address resident concerns quickly with a goal of gaining residents’ satisfaction and earning their retention. We believe our residents deserve the highest level of service, and providing it will allow us to achieve optimum rents while reducing turnover. Our service standards include providing well-maintained properties and engaging living environments with exemplary appearance; functional amenities and planned resident events; highly trained on-site associates who are knowledgeable about the property and neighborhood and who take a responsive, professional approach to resident needs and concerns; and expert maintenance teams with a quick response to service orders and our 24-hour work order guarantee.
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Awards and Distinctions Fairfi eld is proud to be active in hundreds of local apartment associations throughout the country and maintains a host of accreditations.
Accredited Management OrganizationInstitute of Real Estate Management
Local, State, and National Apartment Associations
Broker and Real Estate LicensingLicensed in each state as required by law
Housing Credit Certifi ed Professional
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Accounting and Financial Services
Timely, pragmatic information is critical to real estate peak performance, and the Fairfi eld accounting department provides end-to-end property and partnership accounting services. Your property is partnered with a dedicated accounting team consisting of CPAs, accounting managers, and accounts payable coordinators. The team works in unison to offer effi ciency, ensure accurate and timely reporting, and provide complete fi nancial information.
Fairfi eld uses the Yardi Voyager accounting system, which is fully integrated with our Yardi property management system. This integration affords outstanding effi ciency, automated processes, and a full suite of custom reports. We can easily provide uploads to your chart of accounts through mapping, and have the ability and fl exibility to work in a myriad of other accounting systems.
For job cost and FAS for fi xed assets, Fairfi eld uses Timberline. Data from these systems is uploaded to the general ledger system. For funds and large portfolios, Fairfi eld uses the integrated Yardi asset management system, which allows our fund accounting department to consolidate property reporting and provide investor information across a portfolio.
The Fairfi eld property management accounting team works hand-in-hand with our cash management department to provide comprehensive banking and processing solutions including opening and monitoring cash accounts; processing wires and ACH payments; processing returned items; researching irregular items; and maintaining internal controls.
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Accounting and Financial Services
optimize your optimize your fi nancial interest fi nancial interest
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Services offered by the Fairfi eld Property Accounting team include:
- property payables – maintain system of controls to ensure that property costs are valid, accurate and properly classifi ed; approve payment of property operating costs
- property receipts – ensure compliance with property operations policies and procedures via timely review of results; reconcile collections weekly via bank downloads; analyze collection trends and performance
- monthly accruals – analyze operating expenses and record appropriate accruals
- monthly reporting – provide very thorough and detailed monthly fi nancial and operations reporting package; additional reports or supporting documents are available to meet your specifi c reporting needs
In addition, our accounting team can provide other accounting services for the partnership that include:
- fi xed assets – maintain GAAP and tax depreciations methods; place fi xed assets in service based on percent complete and perform annual 263A test
- partnership payables – process debt service payments, real estate taxes, property insurance, business licenses, and professional fees
- partnership accounting and reporting – review all partnership and loan agreements for terms and requirements; amortize loan costs, capitalize interest and apply hedge accounting; engage audit, and prepare audit and tax work papers; supervise audit process, and draft fi nancial reports
- partner capital and transactions – review purchase and sales agreements; record transaction per terms and prepare purchase price allocation; and calculate capital distributions and
preferred returns in accordance with the operating agreement.
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Financial ServicesFairfi eld provides you with an ongoing focus of the economic viability of your asset based on property value, physical assessment, and fi nancial analysis. In a partnership with you, we use this assessment to identify and recommend short-term tactics for improving property position and long-term strategies to optimize your fi nancial interest. As your property management partner, you will experience our total commitment to gaining a return on your investment. Our value-driven regional and on-site teams are highly focused on reaching investment strategy goals with a high concentration on NOI and incorporating comprehensive forecasting tools. Our team of fi nancial analysts offers a host of extensive trend reporting and historical data to support strategic decision making to achieve your property and portfolio goals.
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Greater Buying Power Offers Savings to Your Bottom Line
Our national portfolio offers you the benefi ts of our incredible national buying power and entitles you to substantial volume discounts that go straight to your bottom line. We can offer you our national and regional discounts with top industry providers of computers, fl oor covering, paint, maintenance and capital items, marketing and media options, and software programs, to name just a few. Best pricing, rebate offers, bulk discount advantages, consistency in quality, and quick delivery are a few of the ways your property and NOI benefi t from the national relationship Fairfi eld has with our Professional Apartment Services (PAS) partnership and national affi liates. Importantly, we pass these savings on to our clients so they can enjoy lower expenses and higher returns.
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mastered the art of multifamily marketing
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Marketing and Media Services
ffMKTG, Fairfi eld’s in-house marketing and graphic design
department has mastered the art of multifamily marketing by
providing creative solutions for today’s competitive marketplace.
Our team of innovative, seasoned professionals is experienced
in campaign development; traditional, online, and social media
strategies; effective media planning and buying; and marketing
analysis.
ffMKTG serves as a one-stop shop, with expertise in branding and
promoting a wide variety of multifamily product types from high-end
lease-ups to stabilized properties, student housing communities,
affordable housing properties, and distressed properties.
With a focus on pro-active strategies and solutions, we perform
ongoing analysis of web/advertising analytics, traffi c numbers, and
market trends, and our marketing team partners with regional and
on-site management personnel to identify future opportunities within
the submarket.
In addition, ffMKTG offers the option of customized promotional
website presentations, search engine optimization services, Internet
analytic reporting, HTML templates for e-blasts and Craigslist
postings, lead tracking, and contact center opportunities.
Quarterly marketing plans, “Power Hour” marketing workshops,
and an online catalog of promotional ideas and collateral designs
are just a few of the ways the department collaborates with on-site
and regional management teams to enhance marketing efforts and
drive traffi c to the property. Additionally, Fairfi eld’s national buying
power maximizes each property’s return on its advertising dollars.
Combined with our marketing team’s media planning know-how,
these national pricing programs ensure that each property’s media
mix is comprised of key proven media at the best possible pricing.
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By partnering with ffMKTG, all properties managed by Fairfi eld have access to
an array of tools and services. These include:
Interactive Design Library: Our online design library offers professionally
designed collateral and creative services resulting in a powerfully unique
marketing message for each property. The library features agency-quality
collateral at a fraction of agency costs. With easy-to-order online services,
these cost-effective and professional solutions are only a click away.
Award-winning Graphic Design Services: ffMKTG specializes in custom
creative services for original content and design to further differentiate your
property. With in-house agency and graphic design talent, we are able to
creatively design and quickly implement marketing strategies that create
tremendous effi ciency and cost advantages.
National Marketing ProgramsFairfi eld offers a range of turnkey national programs to differentiate our
communities from their competition. Each program offers pre-designed
collateral materials that allow for easy, effective promotion at minimal cost.
Live Life in Color Accent Wall Program:
Customization isn’t just a trend for our target market; it’s a way of life.
Fairfi eld’s accent wall program allows residents to select from a palette of
professionally selected paint colors to personalize their space.
Living Green®:
Living Green is Fairfi eld’s recycling and energy-effi ciency plan for our
residents and employees. An early adapter of the Living Green lifestyle
and with several LEED® projects in our portfolio, our company is in a
unique position to positively infl uence the thousands of residents living
at Fairfi eld communities. In addition to resource conservation programs,
Fairfi eld provides its residents with opportunities for education, outlets, and
resources for green living practices, including saving energy, conserving
water, and reducing waste.
Lease with Confi dence:
Fairfi eld’s Lease with Confi dence program offers options to qualifi ed
residents that eliminate some of the costs associated with terminating a
long-term lease.
[ sample property brochures ]
[ sample national programs ]
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Marketing Consulting ServicesffMKTG’s integrated marketing strategies coupled with our expert consulting produce
cost-effective solutions that result in qualifi ed leads and accelerated leasing velocities
for Fairfi eld managed assets, and ultimately in higher returns for our investors.
“Power Hours” and “Out-of-the-Box Marketing Strategy” workshops create focused
marketing coaching sessions and review opportunities to fi ne-tune marketing
and leasing strategies, and to ensure the highest possible yields and maximized
leasing velocities. Power Hour topics include social media marketing strategies,
resident retentions programs, Internet campaigns, conversion techniques and
much more. Our team also offers one-on-one consulting services to our clients,
providing expertise in strategic planning, analysis and troubleshooting, and marketing
investment ROI.
ffMKTG also specializes in custom creative services to provide original content
and design to further differentiate your property from its competition. With in-
house agency and graphic design talent, we are able to creatively design and
quickly implement marketing strategies to create tremendous effi ciency and cost
advantages.
Online Strategy Services Fairfi eld-properties.com serves as our portal to over 170 individual property
websites. Highly engaging property pages draw prospective renters with cutting-edge
functionality including interactive maps, fl oor plan presentations with furniture placing
options, pricing, and availability presentations.
We offer prospective residents the convenience of applying for their new apartment
home directly online any day and any time. This simple, quick process eliminates the
need for an extra visit to the property, and allows even people moving from outside
the area to reserve the apartment home of their choice and be approved for move
in. Online leasing facilitates the entire relocation process: It produces more leases,
ensures pre-qualifi ed renters, and improves the effectiveness of our marketing, which
in turn, adds to your ROI.
An equally alluring resident portal offers resident online interaction with resident
services, including utility connections, maintenance requests, and rent payment. In
addition, ffMKTG offers the option of customized promotional website presentations,
search engine optimization services, Internet analytic reporting, HTML templates for
e-blasts and Craigslist postings, lead tracking, and contact center opportunities.
[ sample special event fl yers ]
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Maintenance Services
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Maintenance Services
As your property management partner, maintenance
is among our most important responsibilities, and your
asset is in great hands with us. Fairfi eld places signifi cant
value on quality control. Our comprehensive maintenance
program embodies this goal without compromise.
Fairfi eld has corporate maintenance directors in
the fi eld to ensure superior maintenance program
implementation. Our division maintenance directors and
their teams advise and coordinate capital projects, and
also pool their extensive knowledge to improve asset
preservation, expense management, vendor selection,
and bulk purchasing. The Fairfi eld buying advantage and
maintenance cost savings benefi t your bottom line.
Our on-site property service technicians are highly skilled
and participate in ongoing enhancement programs to
ensure compliance with requirements of environmental
authorities, fair housing laws, OSHA, and stringent in-
house safety standards. In addition, NSPF® certifi cation
and EPA A section 608 Federal Clean Air Act certifi cation
testing are included in our on-site implementation.
Our maintenance program also incorporates disciplines
and programs related to emergency preparedness, mold
prevention, and environmental management. Our online
interactive safety risk manual, and our mold prevention
and response plan manuals are cutting edge in the
industry.
Our staff is trained in environmental management
with a focus on environmental conditions including
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mold remediation, lead, asbestos, radon and respiratory
programs. Our in-house environmental specialist ensures
compliance with codes, laws, and stringent standards. Our
comprehensive program keeps a pulse on all environmental
issues and a focus on cost-effective implementation
strategies.
Our maintenance program is successful in building positive
resident relations and bolstering client retention. Fairfi eld
offers our residents a 24-hour turn on service, outstanding
follow-up communications, and exemplary work. Our
maintenance program is also instrumental in the Fairfi eld
Living Green® initiative by incorporating green products,
carpet recycling programs, and reduced waste efforts.
The Fairfi eld maintenance services program incorporates an
in-depth analysis of maintenance operations on each property
twice a year. Reports include unit make-ready effi ciency;
grounds and irrigation appearance; property operations; and
an overall evaluation of the physical asset. We do property
inspections and capital asset reviews to prepare annual
operating budgets. Additionally, our maintenance services
team reviews and monitors national and regional services
to ensure the highest standard of work at the best price for
goods and services.
The Fairfi eld preventive maintenance program ensures a
proactive maintenance sequence tailored to your property’s
physical needs and assessment. This automated preventive
program creates appropriate and timely work orders, as well
as a series of checks and balances including remote audits
and analysis.
The Fairfi eld maintenance services program ensures your
asset is in a pristine physical and fi nancial position.
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Audit and Compliance ServicesC
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Audit and Compliance Services
Audit ServicesFairfi eld’s internal audit team offers a wide spectrum of specialized audit services. From full compliance audits to due diligence audits to customized audits, our experienced national auditors can help determine the property lease condition quickly and effi ciently.
Services offered by the Fairfi eld internal audit group include:
Full Compliance AuditCompleted annually, full compliance audits provide:
- verifi cation and identifi cation of discrepancies of Rent Roll information from lease to accounting system including unit number, resident name, rent, deposits, additional charges, beginning and ending lease dates, signatures, concessions, and pro-in rents
- aged receivables and delinquencies audit - condition of specifi c accounting system items such as dispositions, write-offs, resident referrals, etc. - accounting of deposits made to fi nancial institutions - verifi cation of income information from property-run credit reports to information provided by resident - verifi cation of petty cash - condition of property through an inspection of property buildings, vacant units, leasing offi ce, clubhouse, and
maintenance shop. - recommendations for improvements to current system based on years of auditing multifamily properties - assurance that all Fairfi eld policies and procedures, as well as state and local laws, are followed
Due Diligence Audit Due diligence audits provide:
- summary of the property description; alerts to possible property issues or discrepancies - report of accuracy and completeness of rent roll information from lease to accounting system, including unit
number, resident name, rent, deposits, additional charges, beginning and ending lease dates, and signatures on all necessary documents
- income verifi cation for conventional and affordable units - validation of corporate fi nancial information from lease to fi nancial statements by testing reported revenue,
deposits, concessions, delinquencies, and write-offs - identifi cation of other sources of income such as parking/garage, laundry, vendor and storage - evaluation of maintenance opportunities and property condition
- identifi cation of current vacant units
Rent Roll AuditRent roll audits provide:
- complete audit of each current lease for accuracy and completeness of rent roll information from lease to
accounting system, including unit number, resident name, rent, deposits, additional charges, beginning and
ending lease dates, and signatures on all necessary documents - less time intensive alternative to the full compliance audit when only leases need to be audited
Fraud Detection AuditFraud detection audits include:
- determining lack of understanding of policies and procedures leading to unintentional fraud - detecting intentional fraud or theft, and the basis for full prosecution as needed
Fairfi eld also offers customized audits as requested by our investors and property owners.
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Compliance Services
ff Compliance, Fairfi eld’s in-house compliance team ensures adherence
to the requirements of variable types of fi nancing in the affordable housing
industry. We are well-versed in the intricacies of affordable programs including
Low Income Housing Tax Credits (LIHTC), tax exempt municipal bond fi nancing,
Project Based Section 8, HOME Funds, and Inclusionary Zoning. Fairfi eld has
rich experience in managing affordable communities and has built, redeveloped,
and managed over 100 properties with an affordable housing component.
We offer vast experience in partnering with local municipalities and non-profi t
organizations to provide quality affordable housing and benefi cial resident
services.
In addition to monitoring and approving resident fi les for eligibility requirements,
Fairfi eld is unique in offering an in-house compliance department with a
comprehensive suite of services. We are perfectly positioned and experienced
to take care of all compliance services for your property.
Fairfi eld also offers one-on-one consulting services to our clients, providing
expertise on affordable housing and fi nancing programs.
Our in-house compliance processing center services include:
- move-in, recertifi cation, and HUD fi le approval
- fi le storage
- report preparation and submission per the Regulatory/LURA requirements
- pre-audit fi le review and agency audit escort
- investor fi le review submissions
- regulatory agreement review
- unit set-asides and unit types
- due diligence fi le audit
- publishing income and rent limits (property and county specifi c) upon release from HUD
- preparing and submitting annual owner’s certifi cations and any other required reports
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Information Systems SupportTa
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Information Systems Support
Fairfi eld’s information systems team of skilled IT professionals oversees the
many aspects related to integrated technical support and implementation. Our
support specialists provide hardware, software, and telecommunication support
to on-site personnel and continuously seek ways to upgrade to the newest and
most innovative technologies that align with the business goals of your property.
The Fairfi eld network system is state-of-the art, offering real-time information
and the ability to expedite reporting. Our technology expertise touches every
area and includes several online resident and leasing services.
We offer the latest in web-based property management systems to provide
clients and fi eld associates with comprehensive, real-time data. We make the
fi nancial review processes easy so you can take advantage of our ability to offer
customized dashboards and SharePoint sites. This easy access to monthly
operating reports keeps you in touch in an instant and on demand.
Our investment in technology not only makes every Fairfi eld associate more
effi cient, it offers you peace of mind knowing that industry-leading tools and
technologies are supporting your asset.
Services offered by the information systems group include:
- ensuring the availability, continuity, and security of data and information
- administering Fairfi eld’s enterprise management software systems including Yardi Voyager with advanced reporting capability, and third-party software integrations for a complete end-to-end solution
- maintaining long-term relationships with IT suppliers for optimal pricing and confi guration of the equipment and software required for on-site operations
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Employee Development and Enrichment Opportunities65
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Employee Development and Enrichment Opportunities
Fairfi eld offers a coordinated and comprehensive training approach that supports
ongoing learning and development for our associates, positioning each person
to reach his or her highest potential. We believe that effective training starts with
an understanding of the owner’s goals, which enables our training professionals
to develop a customized, strategic plan to optimize associate and asset
performance. We offer employee development and enrichment opportunities that
make our property personnel happy, friendly, and eager-to-please.
Our training and development team takes a results-oriented approach, knowing
that strategic measurement and evaluation techniques increase the value,
quality, and effect of our efforts. Our detailed curriculum reaches more than
1,500 property management associates annually, averaging 40 learning event
hours for each associate.
We provide classes in different environments to maximize training effi ciencies.
These environments include:
- classroom training
- property level coaching (team and one-on-one sessions held at the property with a regional trainer)
- webinars and online courses
- peer-to-peer mentoring program
With the large number of classes we offer, we understand the importance
and benefi ts of tracking and managing associates’ training, compliance ,and
certifi cation records. Fairfi eld’s Learning Management System (LMS) does just
that, making it easy for our training professionals and supervisors to closely
monitor each associate’s training transcripts. This helps ensure staff members
receive all required training for their position and gives them access to courses
that support their continued professional development.
Training doesn’t stop in the classroom. Training and development provides
a content-rich online library to further support our associates’ professional
development. The site features user guides, recorded webinars, performance tip
sheets, training calendars and more, allowing an associate instant access to the
information needed to get the job done effi ciently and accurately.
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Employee Development and Enrichment Opportunities92
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The Network of Employee Talent (NET) is a national group of on-site associates
serving as property management mentors. It’s a network of quality and
professional individuals hand-selected as subject matter experts and top
performers within the organization. They deliver a variety of quality training
experiences to new, promoted, and tenured associates. The “NET” symbolizes
the supportive and collaborative relationship between the fi eld mentor, Fairfi eld
on-site team members, and management. The program spotlights opportunities
to share knowledge, skills, and core competencies in a productive and positive
learning environment. Mentors play a pivotal role in inspiring other associates
to achieve individual and business objectives. It drives recognition and retention
of outstanding achievers, which results in a more knowledgeable and confi dent
on-site management team.
Recognizing TalentWe believe that hiring a talented associate is just the fi rst step. Once an
associate joins Fairfi eld, we provide ongoing learning and growth opportunities,
as well as a host of recognition programs to keep them engaged in their jobs,
boost results and drive your asset’s NOI. These recognition programs range from
property and region-wide contests to national contests and Fairfi eld’s associate
recognition program, the Winning Edge awards. The epitome of associate
recognition, the Winning Edge awards are administered biannually and include
14 categories recognizing outstanding performance in each major discipline.
The Winning Edge ceremonies are high-energy events with a committed focus
on recognizing individuals and teams while celebrating the many company and
property successes. Our experience has shown that a well-deserved pat on the
back—and recognition among one’s peers—greatly enhances our associates’
competitive drive and motivation to succeed.
Shop for SuccessFairfi eld periodically assigns mystery shoppers to visit properties and provide
additional perspectives of an associate’s performance in key areas of sales,
presentation and customer service. Mystery shoppers evaluate leasing agents
on their performance in-person, on the phone or through the Internet, and may
record an audio and video tape of the visit. The resulting analysis and review is
used for employee recognition, as well as training and coaching opportunities.
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Human ResourcesC
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Human Resources Expertise
The Fairfi eld human resources department is a team of dynamic, highly qualifi ed professionals who are dedicated to the
promotion of leading edge human resources practices. The team offers a full range of services, which allows property
managers to focus on their assets and residents, rather than the details related to hiring and recruiting, benefi t administration,
employee relations, and more.
Recruitment and Screening We believe a successful team starts with a successful hiring process. To that end, Fairfi eld’s recruiters seek out the most
qualifi ed candidates through industry networking, referrals, and job boards.
Applicants are carefully screened by our recruiters to ensure candidates match Fairfi eld’s company culture and meet our high
employment standards. Candidates who advance to the next round are interviewed by the regional and property management
teams as appropriate. The last step before hiring a new employee includes a thorough background check and drug screening.
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Online technology has allowed us to make the recruitment and screening process
paperless, which is more effi cient and aligns with our Living Green® program.
All data collection within the hiring process takes place online including the initial
position requisition, resume and application submissions, information related to the
pre-employment background check, and new hire paperwork.
Attractive Benefi tsIn addition to offering an exciting work environment while affording career
development and advancement, Fairfi eld boasts excellent benefi ts. Employees
on the Fairfi eld team enjoy excellent benefi ts including health, dental, and vision
care packages. In addition, our team members are further supported with top-tier
employee advantage programs including an employee purchase program offered
through our partnership with Dell, Flex Plan options, 401K matching program, and a
comprehensive employee assistance program. Add it all up and the value to being
on board with Fairfi eld is very attractive.
Payroll ServicesFairfi eld manages each property’s payroll services for you. Our comprehensive
payroll services include payroll reports, bi-monthly payroll runs, and management
of all deductions. We also ensure adherence to all associated payroll laws. For
both cost savings and in support of Fairfi eld’s Living Green® program, our payroll
process has gone paperless. Employees update their timecards electronically
each day, giving the managers, regional supervisors and corporate staff access to
real-time payroll information for better budgeting and staff planning. Paper checks
and paystubs are no longer issued; most employees take advantage of our direct
deposit program, while the remaining employees receive debit cards loaded with the
compensation due from the respective pay period. To replace the paper checks and
paystubs, employees have electronic access to a self-serve employee portal, where
they are able to easily access current and past pay stubs, submit tax information
changes, and review benefi t information at their convenience.
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Market ResearchP
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Market Research
Fairfi eld is proud to offer one of the most active in-house research groups in the
apartment industry.
Our research team aggressively researches and analyzes a host of major
variables covering the industry’s key market indicators including population,
household trends, employment, multifamily permits and inventory, median
household income, migration, rent, absorption, and occupancy rates.
Importantly, we keep ongoing research and analysis on single-family home sales
and prices, home ownership rates, treasury, and mortgage rates. Our research
team is available to support your investment strategies by providing other
studies that assist in property management decisions including:
- market snapshots
- positive leverage analysis (interest rate management)
- Fairfi eld high-rise developments (historic overview of new product)
- residents’ place of employment maps (Fairfi eld’s gauge of local demand based on jobs)
- resident profi les (Fairfi eld residents’ characteristics)
- demographic thematic maps to identify niche trends
- construction price infl ation trends
- monthly employment trends by metro area
- single-family monthly housing trends by metro area (including foreclosure data)
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The result – The result – a value added relationship a value added relationship with reduced overhead. with reduced overhead.
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The result – a value added relationship with reduced overhead.
Client Insurance Program
Fairfi eld provides our customers the opportunity to participate in our
master property and casualty insurance program. This program provides
for extremely broad coverage and a diversity of insurance carriers not
normally found. By choosing to have your insurance placed under the
Fairfi eld program, you can be assured that you are leveraging one of
the fi nest insurance programs in the country -- one that is consistently
considered best in class among its peers based on a number of metrics
including cost of risk, coverage placements, and premiums.
Fairfi eld believes in diversifying carriers to reduce the overall
concentration of risk among carriers, while simultaneously increasing
competition to drive down premium pricing with more favorable policy
language. To that end, Fairfi eld uses Lloyds of London syndicates
and Bermuda based carriers, along with some of the largest and most
established insurance providers in the country. Having this type of pricing
power and coverage is usually reserved only for the largest real estate
players.
Due to Fairfi eld’s size and deep rooted relationships with underwriters,
brokers, wholesalers, and adjusters forged over 15 years, you can be
confi dent that your claims will be handled by dedicated adjusters who
fi ght to resolve each claim quickly, while keeping costs down so as to
not affect the future loss runs of the portfolio. From Fairfi eld’s special
manuscript endorsements, policy language, and numerous bells and
whistles not normally found on smaller placements, to dedicated claims
handling professionals, you can be assured your insurance and risk
management needs will be seamlessly integrated into your property
management relationship so you can have the peace of mind that the
very best are handling your property management, asset management,
and risk management needs end to end.
The result – a value added relationship with reduced overhead.
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