In March 2009, MTRPM’s Founder & President, Melvin T. Reid, set down business principles that he thought would help owners understand our approach to property management. As is appropriate for “principles,” all 9 remain alive and well today, and they are stated below.
- Partnership Attitude—Our owners are treated as co-partners who have entrusted their properties to us for what may well turn out to be the remainder of their lives.
- We Eat Our Own Cooking—We have no interest in charging high property management services fees, start-up advertising fees or other means of gaining an “edge” over you. We want to make money only when our owners do and in exactly the same proportion.
- Weekly Communications Guarantee—We’re serious about communicating with our owners. So serious in fact, that we guarantee that owners who have signed a management agreement with us will hear from us every single week. If there’s ever a week where you don’t hear from us with an update on the maintenance management or lease administration of your property, we’ll give you $100 in cash once the property is rented. And, we’ll give you $100 for each time it happens.
- Clear Fee Structure—Our goal is to provide a clear fee structure that can be easily understood by our owners and we strive to provide fair and consistent processes to deal with special circumstances. To state things simply, you get what you pay for and you’ll know exactly what you’re getting from us.
- Affordable Housing Competence—“Knowing what you don’t know” is important in all aspects of life, but it’s crucial in property management. We think our odds of management success are much higher when we manage property types we understand, ideally affordable housing, where we believe we have an edge over other property managers.
- We are Proactive, Long-Term Property Managers—When we analyze potential properties to manage, we think about the investment behind the property and try to implement management strategies to realize the property’s underlying economic value. Ideally, the property’s market value rises over time and the market price follows. This often allows our owners to hold the property for many years, minimizing transaction costs, taxes, and the need for new investment ideas.
- Privacy—The security of personal information about you is our priority. We strive to protect this information by maintaining physical, electronic, and procedural safeguards that meet applicable law. We train our employees in the proper handling of personal information. When we use other companies to provide services for us, we require them to protect the confidentiality of personal information they receive.
- Satisfaction Guarantee—We stand behind our service as property managers. If you’re not completely satisfied, you can opt-out of our management agreement by giving us 30 days written notice and pay no penalty fees. That’s it.
- Performance Review Guarantee—We feel noble intentions should be periodically checked against results. If at any time, for any reason, you would like to review our management performance, we’ll prepare a performance review report to test our efforts. No questions asked.