Why do so many apartment owners trust Devon to manage their properties?
Devon’s large portfolio creates considerable purchasing volumes from suppliers and results in significant discounts for the building and first in line service from suppliers. This benefit ensures lower operating costs to the building which are directly passed onto the building owners.
This same purchasing power, when combined with pre-chosen products (carpet, linoleum, countertops, paint, tile) across the Devon portfolio, creates a further volume based discount again further lowering operating costs.
These pre-chosen products and front of line service allow Devon to turnover suites in an incredibly short time frame which minimizes loss of vacancy to the building.
Devon’s large portfolio also creates a significant insurance pool which creates lower insurance premiums for lower operating costs
Devon reviews market rents on a continual basis. Our large portfolio allows market changes in rental rates to immediately be determined and managed. This results in a process which maximizes market rents and seeks to achieve the maximum gross potential rents for each building on an ongoing basis.
The Devon tenant application process thoroughly vets tenants with credit/references checks and personal interaction with building managers. This process strives to qualify and attract long term tenants resulting in fewer vacancies.
Consistent operating policies and procedures implemented by our building managers create a solid relationship between tenants and Devon management resulting in long-term tenancies and less tenant turnover.
Consistent management standards minimize tenant complaints, rental arbitration hearings and confusion in the rental process which can impact the income potential of a building.
The monthly rental collection process enables immediate action on late payments, NSF’s, Notices to vacate, Move-ins and advertising of available suites. This intensive process is key to maximizing income to the owner.
Devon’s reporting is simple, accurate and timely. A continual proactive management of the building cash flows allows Devon to distribute the owner’s monthly income within one to two days of rent collection.
The active hands on management of the building and solid reporting allow Devon to keep the owner informed of the building and plan ahead for any major expenditure and strive to avoid surprises which may affect the cash flow of the building.
The Devon management reputation also garners confidence with financial institutions, insurance providers, government agencies and accounting firms which can be invaluable in the successful overall ownership of the asset.