CRA’s Asset Management platform is the result of decades of experience with tens of thousands of apartment units across the country. Our highly experienced team steps in during the acquisitions process and takes on the task of implementing our business plan for each community. Whether orchestrating unit renovations, building a new Clubhouse, or going through the financials, our team is creative and meticulous in finding ways to add value both to our residents and to the bottom line for investors.
Read below for more information on each component of our Asset Management platform.
Renovation, Redevelopment, and Development
CRA has implemented a vast array of value-add programs at our properties. We’ve done everything from light unit interior renovations to building entirely new Clubhouses. We’ve also added value by increasing density and creating additional development plans to existing investments.
We have our own in-house staff dedicated to renovation and development which allows us to be pro-active, exercise greater process control, and negotiate better pricing on materials and labor.
CRA takes an extremely hands-on approach to asset management. We’ve found that we can add substantial value by utilizing 3rd party management platforms and combining them with our own comprehensive asset management platform. Some of the strategies we implement include:
- Weekly reporting from each property with bi-weekly status update calls
- Frequent site visits from CRA staff
- Managed budget and funding processes which result in increased accountability and cost conscious management
- Active approach to LRO (Lease Rent Optimization) system management
- Lease expiration management and reduction. We’ve partnered with CARES and Community Life to better serve our residents and increase the sense of community at the properties.
Our robust reporting practices provide transparency and a high level of detail for our investors. We track a vast array of metrics which gives us deep and actionable insight to our properties.
- Lease-over-lease tracking for every new and renewal lease
- Detailed renovation tracking by unit, including costs and ROI
- Weekly action reports from each property which include leasing activity and other performance metrics
- Periodic investor reporting packages
Please contact us if you’d like to know more.Learn More