Fall 2007 Sunrise Multifamily Rental Market Report Finds Northeast Market Trends Continue

Albany, NY – November 23, 2007 – The Fall 2007 Sunrise Multifamily Rental Market Report © released today by Sunrise Management & Consulting finds overall market trends reported in the Spring Report continue in the Northeast Markets. New York and Connecticut continued growth in average rental rates, with Massachusetts and Maine reporting growth.  New Hampshire and Rhode Island continued negative trends with decreases in average rental rates.
The Fall 2007 Report finds:

•    The New York Market survey reports growth throughout all market segments, led by the Capital Region (Albany) with a $21 average rate increase, and the Western Region (Buffalo) with a $19 increase.
•    Connecticut continues its growth trend with the Western Region (Stamford & New Haven) reporting average rental rate up $46, and the Eastern Region (Hartford) posting a $12 gain.
•    Massachusetts and Maine reversed previously negative trends with healthy growth patterns. Maine had a $25 increase in average rental rates, while Eastern Region of Massachusetts (Boston & Suburbs) posted a $40 increase.
•    The New Hampshire and Rhode Island markets continued negative trends, posting decreases in average rental rates.  Rhode Island, down $16, has seen declines for the past three surveys, last posting an increase in Q1 of 2006.

“The New York markets continue to be quite strong.” said Jesse Holland, president of Sunrise Management & Consulting, “We found growth in all nine markets surveyed, a first since we began the survey for the entire state.”

The Sunrise Multifamily Rental Market Report includes the entire Northeast except New York City.  The states surveyed and reported on include Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.  The research team at Sunrise Management & Consulting also began data collection in the state of Florida, which will be released in a separate rental market report, and plans to expand their database to the Mid-Atlantic States, starting with New Jersey and Pennsylvania.

The Sunrise biannual survey of rental conditions in the multifamily housing segment details average asking rents by unit mix and by square footage, and tracks historical trends on a county, regional and state basis. A regional summary report is available free of charge, at www.sunrisemc.com.  Sunrise Management & Consulting will prepare customized reports to meet any user’s specific needs.  Information on customized reports can be obtained by contacting Sunrise at 518-782-0200.

Sunrise Management & Consulting, AMO, headquartered in Latham, NY, a 2006 Accredited Management Organization of the Year, is the creator of The Property Coach tm Program.  SM&C provides property management for investment real estate, property analysis and Property Coach training services to the real estate industry.  For information about Sunrise find us at www.sunrisemc.com.

Sunrise Management & Consulting Expands Business Arena with Commercial Division

April 29, 2004

Latham, New York – Sunrise Management & Consulting, an innovative multifamily property management company, today announced the establishment of its Commercial  Division.  The division will provide various management services, such as grounds maintenance, billing and collection of rental fees, and common area repairs, specifically designed according to the needs of commercial property owners.
Sunrise Management & Consulting, which currently is involved with the management of 1.5 million square feet of apartments and associations, expanded into this related management area in January when it obtained the management contract for 8 Century Hill Drive, Latham, NY.

“It was a logical progression for the business, given our extensive experience in residential property management,” said Jesse Holland, president of Sunrise Management & Consulting.  “ Using The Property Coach tm   Systems which we developed, we deliver consistent customer service to the tenants and stabile cash flow for the ownership. ”
Mike Bozosi has been hired as Director of Commercial Management.  He has extensive experience in all areas of shopping center, office building and industrial operations and management.  A pro-active, detail oriented and professional manager, Mike has been the key factor in the successful performance of many commercial portfolios.  He is very enthusiastic about working to develop the Sunrise Management Commercial Division.
Sunrise Management & Consulting, headquartered in Latham, NY, is a performance-driven property management company that provides innovative management solutions, property analysis and training services to multifamily operations.  For more information about the Commercial Division, contact Mike Bozosi at (518) 782-0200 ext. 108.

Albany, New York –
Abacus Capital Group, LLC names Sunrise Management & Consulting, AMO to Manage Capital Region Portfolio
Sunrise Management & Consulting, AMO has been named property manager for the 232 unit Mansions at Delmar and the 390 unit Mansions at Tech Park, both owned by affiliates of Abacus Capital Group, LLC.  Sunrise will provide day to day property management services and operational oversight of these Class A multifamily properties.
Abacus Capital Group, LLC entered the Capital Region market in May of 2005 with the purchase of The Mansions at Tech Park. In November 2006 they added The Mansions at Delmar to their portfolio.
“We believe that the Capital Region has a tremendous growth potential and that teaming up with Sunrise will allow us to be at the forefront of the luxury apartment market” stated Kyle Ellis, Sr. Vice President,  of Abacus Capital Group, LLC.  “We selected Sunrise because of it’s demonstrated management expertise in raising the bar for the evolving Tech Valley apartment market.  We have already started to remodel our clubhouses as the core of our resident’s community experience.”
“Having  a first class customer experience and desirable community environment  is key for today’s apartment resident. “ said Jesse Holland, President of Sunrise Management and Consulting, ” Our Property Coach tm   System of Property Management will achieve those results for our clients and provide a quality living experience for their residents.”

Spring 2007 Sunrise Multifamily Rental Market Report Finds Mixed Results in Northeast Markets

Albany, NY – July 6, 2007 – The Spring 2007 Sunrise Multifamily Rental Market Report © released today by Sunrise Management & Consulting, reports mixed results for average rental rates throughout the Northeast markets surveyed. Upstate New York and Connecticut led in average rental increases, while Massachusetts, along with Maine and Rhode Island recorded decreases in average rental rates. Flat growth was found in New Hampshire and the Hudson Valley region of New York.

The Spring 2007 Report finds:

*
o The New York Market survey reports growth throughout most market segments, led by the North Country Region (Plattsburgh) with a $19 average rate increase, and the Capital Region (Albany) with a $15 increase.
o New York’s Hudson Valley and Western (Buffalo) regions were flat, with modest $1 increases in average rental rates.
o Connecticut’s Western Region (Stamford & New Haven) continues to be the fastest growing market in the survey, up $54 in average rental rate, on top of a $24 increase found in the Fall 2006 report.
o Massachusetts, growing in the Fall 2006 report, had decreases in average rental rates, down $20 in the Eastern Region (Boston & suburbs).
o The Maine and Rhode Island markets also posted decreases, with New Hampshire reporting flat.

“The New York market appears quite strong, and notable when you consider the spring is traditionally a slower period for apartment rentals,” said Jesse Holland, president of Sunrise Management & Consulting, “I expect continued strong results for New York in the next survey period, and a rebound in other Northeast markets.”

The Sunrise Multifamily Rental Market Report includes the entire Northeast except New York City. The states surveyed and reported on include Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. The research team at Sunrise & Management & Consulting compiled the information by surveying almost 1900 apartment communities, representing 330,000 apartment units, and extensively updated the survey database.

The biannual survey of rental conditions in the multifamily housing segment details average asking rents by unit mix and by square footage, and tracks historical trends on a county, regional and state basis. The Sunrise Management & Consulting will prepare customized reports to meet any user’s specific needs. Information on customized reports can be obtained by contacting Sunrise at 518-782-0200.

Sunrise Management & Consulting AMO, headquartered in Latham, NY, a 2006 Accredited Management Organization of the Year, is an innovative third-party property management company that provides performance-driven management solutions, property analysis and training services to real estate operations. For information about Sunrise find us at www.sunrisemc.com.

Sunrise Management & Consulting, AMO relocates to new offices.
Albany, NY , February 22, 2007 Sunrise Management & Consulting, AMO, the creator of  The Property Coach TM , has relocated its corporate offices to 3 Lear Jet Lane, Suite 103, Latham, NY.  The transaction was brokered by The Howard Group and Sunrise Management & Consulting, AMO.
“By relocating our offices to this more centralized location we will be able to offer better customer service to the tenants in the properties we manage, and more convenient access to our clients.”  Said Jesse Holland, President of Sunrise Management & Consulting.
Sunrise Management & Consulting, AMO has created The Property Coach TM   System for real estate investors and managers who want to avoid the frustration of bat tenants, the hassles of inferior maintenance and the stress of unproductive staff.  SM&C provides management of over 1.5 million square feet of residential and commercial space throughout the northeastern United States.  SM&C is also the publisher of the bi-annual Sunrise Multifamily Rental Market Report that tracks rental market rates and trends throughout New York, Connecticut, Rhode Island, Massachusetts, Maine, New Hampshire and Vermont.

covering all of   long island, new york city and upstate new york

Investing in rental property real estate: It’s not just about rents and profits

So you want to invest in rental real estate. Good Idea, it’s a great way to make money. In fact investing in income real estate affords you several opportunities that other investments do not – appreciation in value, tax benefits of depreciation, cash flow and a hedge against inflation. With today’s stock market conditions, returns from investment real estate are certainly attractive. But what about the other side of the coin? What are the pitfalls of investment property ownership, and how can you protect against them.
Horror stories of rental property management abound. Demanding tenants who are confrontational and ready to sue at a moment’s notice. Maintenance calls at 2 a.m. Myriad regulations from local building codes to Federal Fair Housing Laws. Contractors that don’t show up or do a lousy job. Employees who make poor decisions, don’t follow through and can’t be trusted. Sometimes it is amazing that anything works at all. Beware, expensive repairs and high turnover can quickly turn an attractive asset into a costly liability.
Whether you are just starting out by investing in a two-unit property or you are managing a large multi-family portfolio you need a systemized method to efficiently manage property to reach your goals. All too often the policies and procedures of running a multi-million dollar asset are left in the hands of relatively young, low paid and untrained front line staff. Every time a manager changes, the policies change, and that leads to a cash flow roller coaster, regulation violations, poor maintenance, and high turnover.
We know, we’ve been there. At Sunrise Management & Consulting we work toward the goals of stable, predictable cash flow and increasing the value of the asset. We have taken the collective expertise of our staff, drawing on over 100 years of property management experience, and created a systemized method for efficiently managing rental properties. It is a system that addresses the financial, regulatory, tenant, facility and staffing management of investment properties.
We have been using this system for approximately 18 months, and the results are tangible. We have been able to reduce our turnover rate to 26% on properties that had been as high as 75% per year. That translates to a savings of over $300,000 per year in turnover costs at one property alone. We have virtually eliminated our collection losses. We have increased our average occupancy by 4%, realizing over $80,000 in additional income at another property. Using the bi-annual Sunrise Rental Market Report as a benchmark, we have been outpacing market rental rate increases by 2 to 3%.
And the numbers don’t tell the whole story. It’s what goes on within the system that cannot be quantified that really makes the difference. Resident complaints are handled efficiently and effectively, increasing tenant satisfaction. Accurate and timely information allows decisions to be made so problems are resolved when they are small, not after they blow up. Our front line staff understands the how’s and why’s of real estate investing from the owner’s point of view, and act accordingly.
It’s not just collecting rents and realizing profits. In order to be successful in rental market investments you need to commit to the knowledge and management systems that ensure cash flow and asset value.
We have developed The Property Coach Program of workshops to share our system. It is designed around all day quarterly sessions for the front line staff – either the property owner if they are managing their own property, or the site manager and maintenance supervisor of larger properties. Each day is spent learning and working Property Coach Tools that assist in the creation and execution of a plan to accomplish the owner’s objectives.
If you are an investment property owner or manager who wants to achieve consistent results and higher profits, and find that you are frustrated by tenants, hassled by maintenance and stressed by staff, The Property Coach Program may be the solution you are looking for.

Jesse Holland is the president of Sunrise Management & Consulting, Albany, N.Y.

Tel: 781-878-4540 / Fax: 781-871-1853 / 800-654-4993 / nerej@rejournal.com / www.rejournal.com

Sunrise Management & Consulting

jh Jesse Holland

Is your customer service program up to snuff? In today’s fast paced, high tech world you have to make sure your apartments can compete, and not just with the property down the road.

Let’s look at a typical multifamily property tenant, Jane Business. Jane has a good job, impressive salary, good credit and good references. She has no problem paying the first month rent and security. And Jane is very busy, busy at work, and busy at looking for an apartment.

She has a major report due in two days, and an apartment she needs to find by the end of the month. Her day is filled with transactions and decisions that are impacted by customer service.

Jane has a software glitch that is causing her headaches in finishing the report. She calls into her support tech center, and while online, the tech dials into her system, downloads a patch, and she is up and running. Finishing the report she emails it to her local graphic company for 50 bound copies. It is delivered several hours later, with a bag of fresh baked cookies. While enjoying a cookie, she calls FEDEX and her call is answered on the second ring. The rep looks up her account information and schedules a pick-up information and someone will get in a matter of minutes. Before she back to her. She leaves messages on leaves at the end of the day her report all of them. She connects with one,

Our tenants not only compare us to each other, but also to every other experience they have in their economic life. Multifamily property managers are absolutely in competition with companies like FEDEX, because they have established the standard of how our customer wants to be treated.

is out the door. While she is doing these things, she is also scanning the local paper looking for an apartment in a multifamily property. Is her experience, typically, going to be as “customer service” friendly?

She will call several ads that look appealing. Three are answered by a machine with a message to leave her and the leasing agent provides her with basic information, a two bedroom apartment, $650 plus utilities. The agent doesn’t know the s/f, or what the utilities run for that apartment. More importantly, the agent does not give her any reasons to come look at the apartment.

Still, she asks to make an ap-pointment that evening. Sorry, but it will have to be before 6 p.m., or the next day. As Jane is busy presenting her report the next day, she takes the appointment that day, leaving work early to make it. Once there the agent is 10 minutes late for the appointment, and is just finishing up with someone else. The lawns haven’t been mowed recently, and the lot has papers blowing around. Twenty minutes later the agent shows up, and, unable to get the key to work, has to go back to the office for the correct key. Once in the apartment Jane finds it hasn’t been cleaned from the last tenant yet, but is reassured that it will all be taken care of.

At the end of the day she has not been called back by the three properties she left messages at, and she realizes finding an apartment is going to be a very time consuming task.

Our tenants not only compare us to each other, but also to every other experience they have in their economic life. Multifamily property managers are absolutely in competition with companies like FEDEX, because they have established the standard of how our customer wants to be treated.

Customer service is a universal principle of good business. It can set you apart from the majority, and directly impact the performance of your property. First impressions are critical. That first contact with a potential tenant will establish how they view the property, and the property management.

Jane’s customer service experience with a properly managed multifamily property will include:

A return call immediately, if only to schedule a time to speak.
Detailed information about the neighborhood, amenities, utilities and s/f.
Appointments scheduled to her convenience.
A friendly leasing agent who is there before she is.
• A clean apartment to look at.
Applications and paperwork available at the meeting.
Professional treatment that tells her that property management cares, about the property, and about her.
Customer service extends beyond the leasing agent. How much more does it cost you to fill a vacancy than it does to retain a resident?

We should regularly evaluate the customer service our property management frontline provides. While customer service is not hard to deliver, it does take training and focus to implement a true customer service program. If your staff is not up to snuff, provide them the training and direction they need to succeed.

Jesse Holland is the president of Sunrise Management & Consulting, Albany, N.Y.

Evaluating property management customer service: It’s not just important, it’s the difference

Local Real Estate Management Firm Earns Professional Accreditation

Albany, New York – August 16, 2005 – Sunrise Management & Consulting, headquartered in Albany, has earned the ACCREDITED MANAGEMENT ORGANIZATION® (AMO®) accreditation from the Institute of Real Estate Management (IREM®), an affiliate of the National Association of REALTORS®.  The AMO® accreditation is awarded to real estate firms that have a track record of high performance, experience, stability and financial accountability and have a CERTIFIED PROPERTY MANAGER® (CPM®) directing and supervising the real estate management team.  In addition, AMO® firms must abide by a rigorous Code of Professional Ethics that is strictly enforced by the Institute.
Sunrise Management & Consulting (SMC) was formed in 1998 and specialized in the property management of large apartment Complexes.  In 2003 Sunrise expanded to include Homeowner and Condominium Associations.  Today Sunrise manages over 1300 units in the capital region.
SM&C is the creator of the sunrise SMART System for effective property management.  Using this systematic approach allows us to aggressively control the day to day management and address each property’s issues and the owner’s goals.
SM&C is the publisher of the Sunrise Multifamily Rental Market Report covering New York, Connecticut, Rhode Island, Massachusetts, Vermont, New Hampshire and Maine.  The report, the first and only comprehensive analysis of this market segment in these regions, provides rental market information for use by property owners, managers and service industry personnel

Founded in 1933, the Institute of Real Estate Management educates real estate managers and certifies and enhances the competence and professionalism of individuals and organizations engaged in real estate management.  IREM® also serves as an advocate on issues affecting the real estate management industry.  IREM® has over 16,000 individual members, 8,600 who hold CPM® designation and 3,600 who hold the ARM® certification.  In addition, it has 530 firms that hold the AMO® accreditation.  IREM® also has 82 U.S. chapters, seven international chapters and several other partnerships around the world.

Sunrise Management & Consulting, headquartered in Albany, NY, is an innovative third-party property management company that provides performance-driven management solutions, property analysis and training services to multifamily operations.

Albany, New York –

Sunrise Management & Consulting has been named property manager for the 191 apartment portfolio owned by St. Joseph’s Housing Corporation.  Sunrise will provide day to day property management services and operational oversight for the Not-For-Profit Housing Corporation.
St. Joseph’s Housing Corporation has provided affordable housing in the Arbor Hill Community for over 20 years.
” Sunrise Management and Consulting has a wonderful track record and brings our agency much needed expertise in property management.” Rose Brayboy, Acting Executive Director of St. Joseph’s Housing Corporation, stated “ This union furthers our mission of community revitalization and providing affordable housing for the Arbor Hill Community.”
“Effective property management provides positive results for both the tenant and the property owner. “ said Jesse Holland, President of Sunrise Management and Consulting, ” Our SUNRISE “SMART” System of Property Management will provide outstanding results for St. Joseph’s Housing Corp and a quality living experience for their residents.”
Sunrise Management & Consulting, headquartered in Albany, NY, is an innovative third-party property management company that provides performance-driven management solutions, property analysis and training services to multifamily operations.

Tuesday, March 30, 2004
COVERING THE ENTIRE STATE OF NEW YORK

Jesse Holland President Sunrise Management & Consulting
Jesse Holland is president of Sunrise Management & Consulting, a multi-family property management company based in Latham, New York. The company utilizes a customer service-driven and value-enhancing approach in the various management solutions that they provide. As a seasoned veteran in the real estate industry, Holland understands the needs of the industry and, through Sunrise Management & Consulting, continually offers services, such as training seminars and comparative market reports, to meet these needs.
Holland’s career in property management dates back to his high school days when he worked for a property investor, helping to computerize his property management operations. Then, while attending Cornell University, Holland purchased a 4-unit property with his father; and as a result of the transaction, a valuable friendship with the seller, Steve Lucente, developed. Lucente, of Lucente Homes, owned over 300 units on multiple properties and has been a longstanding mentor to Holland throughout his career.
In 1987, Holland established Holland Real Estate Services, Inc., a property management and real estate agency in New York’s Capital Region. During the company’s 10-year history, it managed over 1000 units of residential and 200,000 s/f of commercial real estate.

In 1998, Holland started Sunrise Management & Consulting to focus on the management of larger properties, which presented a unique opportunity to use the cumulative talents of the company. Because of the broad type of clientele and the variety of situations that Holland dealt with throughout his career, he gained tremendous insight into the nuts, bolts and pitfalls of owning and managing real estate. Taking this wisdom from 16 years in real estate, Holland developed and refined a system of managing properties called the Sunrise Peak Performance System that addresses potential opportunities and downfalls that a property may present.
The Sunrise Peak Performance System is essentially a blueprint of how to successfully manage properties in order to maximize returns on investments. It takes every aspect of managing a property, puts it into an organized, easy-to-follow format that enables one to see “the big picture”, and incorporates all the best practices into a plan. The Peak Performance System has four stages. Each stage lays the groundwork for the next, following an intuitive and logical sequence. It is designed for application on a continual basis to ensure that the property keeps pace with the changing market and maximizes future returns. Although the system is customized for each property that Sunrise manages, the approach remains the same from property to property. The Sunrise Peak Performance System, together with the company’s customer service-driven and value-enhancing philosophies and programs, has been instrumental in the success of their clients’ properties.
Holland has been a licensed NY real estate broker for 16 years. He is a member of Institute of Real Estate Management, in which he holds an Accredited Residential Manager Certification and is a Certified Property Manager (CPM) candidate. He is also a member of the Capital District Association of Rental Property Owners and the Capital Region Builders’ & Remodelers’Association. He also serves on the Associates Council for the New York State Builders’ Association.
Outside of Sunrise Management & Consulting, Holland volunteers his time with the local Fire Department as both a firefighter and an EMT. He is also actively involved with the local Boy Scouts of America, serving as Scout Master. And, during the winter months, he can be found on the ski slopes doing Ski Patrol. Previously, he has served on the Board of Congregation Gates of Heaven for 6 years and as treasurer for 3 years.

Reprinted from the New York Real Estate Journal • 781-878-4540 • 800-654-4993 (outside Mass.) • 781-871-1853 (fax) • nyrej@rejournal.com