SPOTLIGHT ON BUSINESS MAGAZINE APRIL 2016
Larlyn Property Management
Larlyn Property Management: Full service, including education
By Charlene Boyce W hat does it mean for a property management to address the unique needs of its customers? Larlyn Property Management has taken the basic require- ments of a property management company and amplified them to build a company that is extraordinary in its attention to detail and fulfilling its customers’ needs. President & COO Michael Holmes acknowledges that the role of property managers is a weighty responsibility. “We are often entrusted with a lot of money. You wouldn’t walk up to just anyone and say, ‘Hey, would you hold this half million dollars for me?’ We respect the trust our customers show us.” You wouldn’t walk up to just anyone and say, ‘Hey, would you hold this half million dollars for me?’
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SPOTLIGHT ON BUSINESS • APRIL 2016
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Larlyn demonstrates their commitment to customizing and address- ing the issues unique to each customer in a number of ways: they hire and train only the best, aim for continuous quality improvement, and look for new ways to meet needs their customers may not have yet identified. HIRE AND TRAIN ONLY THE BEST Larlyn was founded by Larry, CEO, and Lynne Holmes, who now serves as the VP of Client Relations. Son Michael has stepped up to the Presi- dent & Chief Operating Officer roles. The benefits of a family business are clear – “Any client can call us. We believe in that personal link.” Plus, the company boasts many long-term employees who share the family’s service and professionalism philosophy. “This is more than just a job. We hire and train only the best. We are very proud of the training system we have for employees.” A compa- ny-wide Learning Management System (LMS) ensures that all employ- ees are current on legislative compliance. Everyone’s training is verified and certified online. Being a family business has its challenges, Michael notes: “Everyone has their own, different opinions.” But the company makes it work. “We run it as a business. Everyone has clear responsibilities and roles. And we don’t bring the office home.”
CONTINUOUS QUALITY IMPROVEMENT
Michael was a driving force in behind Larlyn’s certifications -- ISO 9001:2008 and Accredited Management Organization (AMO) by the insti- tute of Real Estate Managers (IREM). With his MBA from the Ivey Business School at Western University, professional designations like Cer- tified Property Manager and Accredited Resi- dential Manager (through IREM) and Certified Manager of Condominiums (through the Real Estate Institute of Canada, REIC), and his 20 years of experience working in the industry, Michael strongly believes in the need for a pro- fessionalized property management industry. This is more than just a job. We hire and train only the best. “At the local level, especially for our condo- minium / strata unit properties, many of our competitors would be mom-and-pop opera- tions, small companies that may compete on
price level, but can’t compete on service.” Michael notes that one of the developments in the industry in recent years has been a push for legislation, licensing property managers to stream- line the profession and ensure that people have the minimum skill set required for the increas- ingly complex industry. To ensure continuous quality improvement, Larlyn created the position of Manager of Quality Systems. This individual monitors the company’s procedures and processes across the entire organization, always looking at their current best practice and seeking ways to improve for effi- ciency and/or quality.
556 Edward Avenue, Unit 71 Richmond Hill, ON L4C 9Y5 P 905-737- 0111 F 905-737- 4046 (Guelph Region) P 519 - 827-1757
Proud to be in partnership with Larlyn Property Management Ltd.
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NEW WAYS TO MEET DEMANDS One of the areas in which Larlyn has consistently excelled has been in helping owners reposition their property holdings to increase value. Larlyn serves condominium/strata unit, residential/ rental, commer- cial and non-profit / cooperative housing customers, addressing the needs of each segment in accordance with their own best practices. “The housing stock in Canada has many older units,” Michael says. “The owners of these older buildings often have a goal to modernize to rent or sell, and to increase the value of the rental or sale. And we help them.” One of the areas in which Larlyn has consistently excelled has been in helping owners reposition their property holdings to increase value. With a recent project in Edmonton, this was the case. Larlyn were involved throughout the project, and over a 12 month space, they helped the owners identify their market potential and fulfill it. The place was fully renovated, rents were increased, and ultimately it was successfully sold. The ROI of any particular building’s repositioning is, as Michael says, “dependent on what the owner wants to put in.” But he notes the poten- tial for return is substantial. One of the ways that Larlyn anticipates customer needs is through its training programs. In addition to the substantial investment the company makes in training its own employees, it also offers an expert content blog and posts educational pieces for owners on its website, like the currently-available Demystifying Condo Insurance E-book, or a
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In addition to the substantial investment the company makes in training its own employees, it also offers an expert content blog and posts educational pieces for owners on its website.
They have experts on staff trained in LEED certification to assist owners who wish to reduce their property’s carbon footprint. Local employees are well versed in the unique needs and demands of local markets and vendors to maximize value for property owners.
Another service the company offers is specialized consulting and training for the real estate asset industry. They work with developers and others to grow the knowledge and professionalism throughout the industry.
LOOKING AHEAD After 40 years in business, this family-owned enterprise has six loca- tions and about 650 employees in total, including about 130 corpo- rate staff supporting those on sites with our clients. While recent economic issues like the drop in oil prices have affected many indus- tries, Michael Holmes says that the property management industry is somewhat isolated from these. “Developers may stop building, but they will finish what they have on the go. And even if, in a worst case, developments are taken over by mortgage companies, someone still has to manage the property.” In 2016, a fourth Consumer Choice Award win indicates that Michael Holmes and the rest of Larlyn’s professional employees have no intention of slowing down when it comes to exceeding their custom- ers’ expectations. When asked about what’s next for Larlyn, Michael describes a typi- cally ambitious set of goals: “We are continuing to look to grow into new marketplaces, explore new growth initiatives and develop new business models, to ensure we can offer the same customized atten- tion to customers in smaller or specialty markets.” For Larlyn Property Management, it sounds like a Mission: Possible.
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Larlyn Property Management
5 Ri P 905-7 (Guelp
540 Wharncliffe Road S Suite 200, London, ON, N6J 2N4 (519) 690-0600 • larlyn@larlyn.com
Proud to be in partnership with Larlyn Property Ma
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as spotlighted in the APRIL 2015 issue of SPOTLIGHT ON BUSINESS MAGAZINE
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