McDougal Property ManagementMcDougal Properties began in 1982 in Lubbock, Texas with a single apartment community. Soon after, McDougal Realtors and McDougal Construction Companies were created under the umbrella of McDougal Companies. Every aspect of the real estate industry was provided by the McDougal family. Today, the company has grown from that one apartment community to owning and operating more than 4,000 units, more than 3 million square feet of rental housing. In 2006, McDougal Property Management, under the McDougal Companies was formed.
The corporate philosophy of McDougal Property Management, stems from the premise that excellent property management is a vital, if not the most important, part of the real estate investment process. We have assembled a team of knowledgeable, professional individuals who work efficiently and effectively, and take pride in what they do. We realize the importance of sound business practices, creative approaches to management objectives, and a human understanding of residents.
Our goal is to preserve value and create wealth for our clients. We accomplish this through involvement and participation in the planning, acquisition, operating, and disposition phases of the real estate investment process. We have a depth of experience and knowledge of our industry to add to the value generated at each of these phases. We offer a flexible set of presuppositions about how a property should be managed or developed. Our starting point in designing a management program for a given property is determining the client’s specific objectives. With these objectives in mind, we maintain a flexible attitude with respect to policies, procedures, and fee structuring.
McDougal Property Management offers its clients a variety of property management services to optimize investment and asset performance. In addition to the traditional property management functions of physical asset management and reporting, we offer the same expertise in condominium association management. MPM applies the following services to all its clients:
Compliance:Specialists oversee the affordable housing programs: HUD Financed and Compliance programs, Section 42 LIHTC, bond financed assests, and HOME.
Resident Selection and Education:Strict resident selection criteria attract and retain only quality residents at our communities. A quality resident profile enhances the value of a property.
Marketing:MPM will perform a complete analysis for the marketplace in which the client’s property is competing. Targeted marketing for the project, a cost effective advertising plan and budget and performance evaluation criteria is all part of the marketing plan we will provide.
Leasing:Based upon the requirements of our client, or the property, we will create appropriate leasing point of sale materials, design a complete leasing program and rain Community Directors in sales techniques to maximize leasing results. On new construction properties, our staff focuses planning months before units are actually available in order to have a successful lease-up. We also set-up a toll-free number that enables us to start getting out pertinent information and building a helpful waiting list.
Budget Formulation:Preparation of a pro-forma operation budget is provided upon assumption of management responsibilities and annually thereafter. Following client budget approval, budget versus actual operating results, is provided with our normal monthly reporting. Careful management of our client’s financial resources is not only a fiduciary responsibility, but one of our greatest concerns.
Operating Cost Analysis:Following naturally out of budget formulation services is operations cost analysis. We prepare, for our clients at whatever interval they request, a complete and thorough analysis of the cost of operation of their property, along with suggestions and recommendations for change and improvement.
Financial Analysis:Upon client request, we will provide analysis of the investment performance results of the client’s property. We are ready to assist our clients in seeking ways of improving financial performance through tax strategy, debt restructuring, operational efficiencies, etc.
Financial Reporting:Along with other standard client services that we offer, we take great pride in our management reports to clients. We can custom design a series of reports our clients choose.
Property Maintenance:Maintenance personnel, under the supervision of our Community Directors, not only preserve and protect the underlying physical asset by maintaining the property, but work to achieve operational efficiencies.
Master Insurance Policy Coverage:Insurance coverage is one of the largest expenditures of any apartment community. We have developed a master insurance policy. We have been able to increase coverage’s by using the flexibility of combining our entire management portfolio into one policy reducing the total premiums paid by all of our clients.
If you are interested in obtaining, changing or seeking management for your apartment community or condominium association, we would like to schedule a conference to discuss the many options from which you may choose. We will be happy to provide you with a list of our professional, expert management team, references and clients and all the details you need to make your decision.