Tag Archives: Matthew Adam articles

The Importance of Good Communications

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“After many years in property management, I know that good communications is essential to successful management,” says Ira Meister, President and CEO, Matthew Adam Properties.  He notes that often problem arise because good communications is lacking.

To counter this, Matthew Adam Properties asset managers are trained to be good listeners and to be pro-active.  “It’s not only promptly replying to phone calls, text messages or emails,” Meister says.  “It includes visiting the properties and talking to board members, staff and residents.  A few words with someone can alert the manager to a potential problem or help resolve an issue quickly.”

Another vital area of communications, Meister says, is alerting residents to repairs in the building that can cause temporary service disruptions.  A while back, residents were notified by a sign in the elevator, or in the lobby, telling them that the elevators may be shut down for a few hours or maintenance of the boiler will curtail hot water for several hours.

Ira Meister Keeps His Residents Notified and Up to Date With Building Events and Changes

Today, there are numerous ways to notify  residents.  Meister says that Matthew Adam Properties works with a company called “My Building” to help communicate with residents.  A website is customized for each property to provide numerous services to keep residents informed, make maintenance and service requests, notify them of package deliveries, or to make monthly maintenance, common charge or rent payments.

The system provides various options to notify residents of upcoming service interruptions, emergencies or building news.  Most visible is a monitor usually located at the  front desk or in the mail room that shows by unit number whether there is a delivery to be picked up.    The monitor also shows current information about service interruptions or building news as well as reminders of building policies.

Other means of communication include text messages and phone alerts.

“The use of technology has greatly increased our ability to communicate with residents in real time,” says Meister.  “While useful and needed, technology does not replace the personal contact and quick response time to messages that are at the heart of excellent management.”

 

Creating Value in a Condo or Co-op Part 1

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If apartments in two different co-ops are essentially the same in terms of size, location and amenities, why is one getting a higher price per square foot than the other?  Could it be the uniform and demeanor of the doormen?  This might sound like a small detail, but first impressions are vital in determining a sale and price, says Ira Meister, President and CEO, Matthew Adam Properties, a leading property management company.  Paying strict attention to details is essential to creating value in a co-op or condo, one of the prime goals of a residential property management firm.

Meister says that Matthew Adams Properties feels so strongly about viewing a home as an important investment that it calls its managers asset managers.  “They are there to preserve and increase the asset value of the property, and thus the sale price of the units,” Meister says.

Ira Meister Adds Value to Condos and Co-ops, Improving Living Experience

Numerous factors contribute to creating value, some, such as the condition of the building, are obvious.  Others, such as the demeanor and look of the doormen, are less dramatic.           Here are some factors that add up to creating value in a property:

“One of the most important is the financial condition of the building,” says Meister.  How large is the reserve fund, is there debt, are the maintenance charges too high in relation to similar properties and have the monthly charges increased dramatically in the past several years?

These are factors that buyers and their attorneys should consider.  “We place great emphasis on finances, not only making certain that the books are current — it is surprising how many co-ops and condos have poor bookkeeping — but we also work to keep down expenses through controls as volume purchasing, careful scheduling of staff and use of the latest technology to reduce energy costs,” Meister says.

Part of this is the maintenance of the property so that all systems are kept in good, efficient working order.  If periodic maintenance of the boiler, for instance, is not maintained, the system will probably work less efficiently and use more fuel than it should.  Periodic checking of the roof is important to detect problems early to reduce the possibility of damage to apartments and to repair the problem early, before it becomes more costly.

(To be continued)

Matthew Adam Properties Honored by Resident Managers Groups

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Matthew Adam Properties, Inc., its President, Ira Meister, and three executive vice presidents were honored by The Three Hands group for their outstanding contributions to real estate at a dinner at Chelsea Piers this past November 2012.
The Three Hands organizations – The Metropolitan Building Managers of New York, The Manhattan Residential Managers Club and The Scandinavian-American Building Managers Guild – represent resident managers of many of Manhattan’s premier residential properties.
Honored with the company and Meister were EVPs Harvey Greenberg, Martin Traum, and Janusz Sikora.
“Matthew Adam Properties under the leadership of Ira Meister and the three executives we honor tonight have been in the forefront of quality management in our industry as well as bringing innovative programs to improve the buildings they manage as well as the quality of life of the residents,” said Mike MacGowan, of The Three Hands. “As resident managers of many of the prime residential buildings in Manhattan, The Three Hands members know and understand the efforts and quality that Matthew Adam brings to each assignment.”
Meister accepted the award on behalf of the company and the three executives and thanked the group for the honor. “It is significant that Harvey, Marty and Janusz are being honored along with the company,” he said. “They are real professionals and are significant contributors to our companywide team effort. The honors tonight are for every one of our employees who each contribute to our success and the quality management we bring to the properties we manage.”
This is the second award for Matthew Adam Properties and Meister in the past several months. In October, they were honored by the Young Jewish Professionals Real Estate Division with the Real Estate Deal Maker and Achievement Award.
Matthew Adam Properties is a leading Manhattan-based residential management firm that brings a strategic approach to the more than 100 properties it manages in the New York area. The company also manages and serves as a consultant to retail properties nationwide.
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