Asset Management

Methods & Goals
Throughout the lifecycle of the investment Crystal Peaks seeks to maximize the value and returns of the assets. We hire professional third party management companies to manage the on-site leasing and maintenance that are experts in the product type and market. We ensure they have access to some of the most proficient employees in the business, have sound accounting practices, experienced maintenance personnel, and can spot trends in the marketplace.
The Details
Crystal Peaks personally interviews and selects the property management company, and Crystal Peaks performs the asset management function in ensuring that the property managers are constantly paying attention to maximizing the value of the asset. We also perform property walk-throughs on a scheduled basis to ensure that the on-site staff is keeping the premises clean, safe, and attractive to our customers. Crystal Peaks ensures any issues that arise are handled fairly and quickly.
Other primary functions we perform include:

Negotiate vendor contracts, monitor vendor performance

Look for cost savings

Work with the neighbors and community on any issues

Work with the city or local jurisdiction on any issues

Manage the insurance requirements and the insurance policies

Work with the banks

At the appropriate time seek the most competitive financing options

Assess any third party inquiries or offers for purchase of the asset

Work with investor inquiries

Perform investor reporting

Make member distributions

Assess capital improvement requirements

Assess and ensure proper reserves are held back

Perform market analysis

Perform occasional secret shopping as needed

Monitor quality control functions