Wright Management has proved it's worth time and time again over the decades of service to our communities. Each new property has it's own unique problems, some known and unknown to the Board of Directors. The known issues with current management or self managed communities is the reason the Board seeks a new company in the first place. Time and time again Wright Management solves the problems and usually uncovers many more. Wright Management does NOT have the phrase "Turnover Rate" in its business model simply because there is none. Associations that hire Wright Management stay with Wright Management because of our attention to details and immediate improvement in all aspects of a property.
There are a lot of management companies out there to choose from, please be forewarned that association management requires decades of experience to manage a property correctly. Yes there are classes a manager can take, seminars to attend etc. but much like any tough job the only way to learn is by doing and we have done it all. Having a manger with 10+ years of experience is many times better than a manager with two or three. With Wright Management you will know who will be working with you at the first interview and the experience will show. Below please find just a few examples of the benefits of employing Wright Management, keep in mind that most of the properties we are contracted to work for are experiencing many problems, too many to mention here, so we have chosen one of the many issues uncovered and solved for three different associations all included in our full management contract, no extra charges for all the extra time and attention, unlike most other companies out there.
Townhome Association in Shakopee MN:
2009 this 62 unit townhome association needed to replace its roofing due to defective materials. The cost of this job was over $300,000.00. The Board and manager filed a claim with the shingle manufacturer and was able to recover some of the material costs but the special assessment amount to each home owner after using some reserved savings was still going to be $3,000.00. Bryan, the managing agent (Wright Management) drew from his experience and before any assessment was assessed or any work began called State Farm (the insurance company up until early 2009) and asked for a roofing inspection. State Farm inspected the roofs and found wind damage to the shingles from previous years. After hiring an independent contractor to confirm State Farms findings the Association was paid $69,000.00 for the previously unknown wind damage issues. What does this mean, it means that because of the managers heads up work each and every owner was saved over a $1,000.00 because the special assessment was reduced by $69,000.00
Townhome Association in Chaska MN:
In September 2011 Wright Management was hired as the management company, the association was having major issues with it's previous manager and up until Wright Management started had no idea how bad their service was. Bryan is the manager for this property and he immediately got to work inspecting the property. One of the biggest issues was as follows:
Upon the first inspection he uncovered an issue that once corrected would save the Association over $5,000.00 a year every year. This particular Association consists of 44 units, Three row style buildings and four back to back buildings. Between the back to back units runs a 3 1/2 foot wide corridor the length of the building. The corridors containing water, gas and electrical lines. The corridor is accessed from a single door on the end of each back to back building. Upon inspecting these areas the manager Immediately noticed how hot it was, upon further inspection he noted that each corridor had 3 baseboard electrical heaters running of the associations electrical meters. The heaters were all set to medium high (in the summer!) Obviously no one was monitoring these or paying any attention to them at all. The manager knew from experience that each corridor could have a single thermostat installed and the temperature would be controlled automatically, no heat in the summer and just enough in the winter. The issue was immediately brought to the boards attention and approval was granted to spend $1,750.00 to winning vendor to install the thermostats. The following months bills showed a 75% reduction in costs. The association had always had $8,000.00 budgeted annually for electricity but that amount was reduced to $3,000 because of the work the manager suggested. The annual savings cover 75% of the yearly management fee.
Condominium Association in Chaska MN:
This particular 24 unit condominium association was built in the early 80's and due to self management and hired mismanagement the place was in trouble. Besides the conditions of the buildings and property their financials were a mess. Gail Wright, the president of Wright Management scoured the financials and after weeks of work she managed to straighten out the many accounting mistakes made by the previous management company. There was still a problem with delinquent accounts but after some simple phone calls and letters Wright Management collected $15,000.00 in back dues in a matter of months. This money was desperately needed and it went right back into fixing some of the many issues around the property.
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