Our systems are built to track, analyze, report and deliver quality results for each property we manage, and our associates are trained to effectively lead, supervise, train and discipline. Each on-site team is supported by a Regional Vice President or Regional Manager, who are supported by our corporate offices which offer all back of house functions that are necessary for our teams to succeed.
Our corporate offices are strategically placed nationwide to offer easy access and communication with our on-site teams. The result is a strong organization of tenured professionals who are able to respond to opportunities across the country with a targeted, thoughtful and progressive approach. Laramar's consistent National Operating Platform utilizes the best systems, programs, reporting and technology in the multifamily industry.
Our success as an investment and property management company begins with our people and the technology we deploy at every level or our organization. This successful combination drives performance and NOI, and delivers exceptional results. When reviewing our most successful projects, a few key metrics stand out:
The most important factor in the success of any project of any project is the selection and training of the team. From the manager to the leasing agent to the maintenance team on the property. They will set the standard for the delivery of services and feeling of community at the property. This is critical in creating leasing velocity, improving resident retention and driving pricing power at renewal.
A consistent focus on the bottom line encourages team members at all levels to look for opportunities to reduce expenses, maximize effective rents and create other income opportunities. Driving NOI is our number one priority.
One of the greatest ways to distinguish a property is through exceptional customer service at the speed of now. Consistent, from the initial tour to the day of move out.
People want to be part of something. Not often discussed as part of the leasing process yet critical in the decision making for prospective and renewing residents. Many factors contribute to the sense of community, from amenity programming to the staff's relatability to the target demographic's interest and needs.
Delivering a high quality experience from the beginning. From premier curb appeal to an immaculate leasing office and unit interiors that relate to the project's demographic, everything matters.
Laramar realizes that data is right, every time. It has neither an opinion nor an agenda, and we have learned how to empower it to make us successful. Laramar leverages technology to maximize our marketing analytics, and we understand how to collect, analyze and manipulate data to realize which assets are performing the best, and which areas of our business need improvement. Simply put, we employ a combination of data, systems, software and people to impact net operating income. This sophisticated approach is applied using the following principles: Plan, Allocate, Measure and Manage.
Laramar utilizes extensive and detailed reporting systems to help us maximize our management capabilities and ensure the success of each property we are involved in. Laramar also utilizes iDashboards, which is a custom cloud application that allows us to create and monitor multiple Key Performance Indicators throughout our portfolio in an on demand setting.
By analyzing property performance by Region, MSA, Client and Ownership, we can instantly identify and recognize any key outliers and monitor predictive indicators to stay on top of property performance on a daily basis.
LARAMAR REALIZES THAT DATA IS RIGHT, EVERY TIME.
Laramar's standardized National Operating Platform is utilized across the portfolio and leverages technology whenever possible in order to drive NOI at the property level. It provides standards of operations at each level of the company that are proven “best practices,” and these are easily adaptable from one property to the next. This provides for speed of execution at takeover and enables employees to move seamlessly from one site to another, allowing them to both share and implement new ideas that can be used across our national portfolio.
Our comprehensive, detailed and building-specific plans call for an annual, critical maintenance calendar to ensure that all preventative maintenance measures are completed. In addition, our local and national management presence has allowed us to forge relationships with major suppliers and vendors to decrease costs and drive NOI.
THE OPERATIONS TEAM DRIVES NOI GROWTH AND ADDS VALUE TO THE PORTFOLIO THROUGH:
Laramar has established a division specifically dedicated to smaller multifamily mixed-use properties. Our small property division showcases Laramar's unique ability to bring an institutional level of customer service, management and resident programs to smaller properties. To capitalize on the continued and growing urbanization trend in major markets, Laramar developed a specialized management platform exclusively for small buildings to bring sophisticated, effective and efficient management techniques to a historically "mom and pop" industry. By assembling a concentration of smaller properties under one management team and central office, these smaller assets can now benefit form the level of service and operational efficiency usually reserved for larger properties. In addition, smaller properties benefit from the brand recognition of the Laramar name. Our small property division currently operates in Chicago, Denver, Los Angeles, Minneapolis and Tampa under the Local by Laramar brand.
Laramar's platform brings experience and operational expertise to these small buildings with differentiating programs such as rent optimization and lease expiration management, internet and social-media based marketing and buying power with national purchasing programs. All of these are designed to decrease operating costs, drive NOI, increase the quality of service and leverage technology for operations, marketing and leasing.
Laramar employs technology at every level to enhance residents' lifestyles. Smaller properties also benefit from these technological advances, including online work order submittals, 24 hour maintenance and online rental payments. Further, Laramar leverages relationships with both local and national suppliers and service contractors so that small properties benefit from our portfolio's pricing advantage.