www.marejournal.com
2C — September 30 - October 13, 2016 — Fall Preview — M id A tlantic
Real Estate Journal
P roperty M anagement By Clayton Hill, CCIM, Emory Hill Real Estate Services, Inc. Property Management: Adapting to remain competitive in changing times
B ased on NAI Emory Hill’s experience as a commercial property
a section of the MARE Journal P.O. Box 26, Accord, MA 02018 781-871-5298 • 800-584-1062 fax 781-871-5299 www.marejournal.com Publisher/CEO Linda Christman lchristman@marejournal.com Section Publishers Alissa Aronson aaronson@marejournal.com Kim Brunet kbrunet@marejournal.com Barbara Holyoke bholyoke@marejournal.com Section Editor Julie King editor@marejournal.com In terms of broadening our services, we responded to the increase in distressed assets resulting from the maturity of aggressive lending in the 2000’s by offering real estate owned (“REO”) and receiver- ship services. Cutting edge firms like NAI Emory Hill that have adapted to offer such services have benefited from a changing line of busi- ness and a greater ability to meet their clients’ changing needs. Many economists have predicted that the number of distressed assets in need of such services will peak in 2019 as the last big wave of aggressive loans reach their maturity. Fortunately, we’ve seen improvement as histori- cally low interest rates coupled with recently improved leasing conditions have allowed many borderline assets to reposition and finance out. Adaptation through chang- ing times has allowed NAI Emory Hill to outpace its competition resulting in in- creased market share and the improved bottom line of our expanding client base. Clayton Hill, CCIM, is the Director of Property Man- agement for Emory Hill Real Estate Services, Inc. with clients in Delaware, Pennsylvania, Maryland and New Jersey. n Fall Preview
challenges and will continue this approach into the future. Our focus has increasingly been on embracing all the ways we can bring value to our clients. Examples include: employing cutting edge tech- nologies; sharpening our com- petitive bidding processes to reduce costs without sacrific- ing service; leveraging and passing through to clients our purchasing power with ven- dors, products and energy; of- fering asset management-level consultation; and, broadening our services to reflect changing market conditions.
provider to adapt and remain competitive we’re carrying for- ward lessons from the reces- sion and continually seeking ways to protect and enhance our clients’ financial outcome Threats to the bottom line during the recession took many forms: vacancy, the creeping up of accounts re- ceivables, delayed rental pay- ments, cut rate lease renewal terms, contested CAMbillings, difficulty refinancing, and the list goes on. During lean times NAI Emory Hill further enhanced and broadened its services to better meet these
In greater detail, embracing technology has meant invest- ing in state-of-the-art property management software, like Yardi Voyager andWorkspeed, and employing their many tools to streamline business. The use of these tools to ana- lyze and benchmark seemingly infinite data, increase commu- nication, responsiveness, and accountability has helped us in tenant retention. Finally, their use has increased exposure to comprehensive and real time data for our clients so that col- lectively we can make better decisions.
manager of both portfo- lio and third party assets, we’re finally w i t n e s s - ing an eco- nomic shift f rom post - recession to
recovery, as measured by our owners’ and investors’ all im- portant “bottom line.” While this is great news for all, as a fiduciary agent and service Clayton Hill
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Celebrating 35 Years Serving the Mid-Atlantic
Delaware’s Only Full Service Real Estate Firm Since 1981
Emory Hill is a local, award-winning, LEED Certified commercial real estate and construction firm with 35 years of experience. Our clients come to us for our depth of local knowledge and global resources. We are Delaware’s only completely full- service commercial and residential real estate firm. We live and work here, giving back to the Delaware community in meaningful ways, and we’ve learned that our reputation is everything. Let us turn your next real estate challenge into a success. Commercial and Residential Real Estate Brokerage Commercial Construction | Property Management | Maintenance
10 Corporate Cir., New Castle, DE 19720 302.322.9500 18335 Coastal Hwy., Lewes, DE 19958 302.827.4940 www.emoryhill.com
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