Monarch Investment and Management Group Annual Investor ... · Ads & Recruitment Lost productivity...
Transcript of Monarch Investment and Management Group Annual Investor ... · Ads & Recruitment Lost productivity...
Monarch Investment and Management Group
Annual Investor MeetingThursday March 7, 2019
The Brown Palace Hotel
Accounting Mission StatementTHE GOAL OF THE MONARCH INVESTMENT ACCOUNTING TEAM IS TO SUPPORT THEMONARCH OPERATIONS TEAMS AND PROVIDE ACCURATE AND TIMELY FINANCIAL
INFORMATION.
WE ARE DEDICATED TO PROVIDING FRIENDLY, RESPONSIVE SERVICE TO OUR PROPERTY MANAGERS, REGIONAL MANAGERS AND OTHER CORPORATE MEMBERS,
AS WELL AS INVESTORS, TENANTS, VENDORS AND OTHER STAKEHOLDERS.
WE ARE ACCURATE, TIMELY, CONSISTENT, AND THOUGHTFUL IN OUR RESPONSESAND INTERACTIONS WITH OUR STAKEHOLDERS. WE APPROACH THIS TASK AS A TEAM
AND RECOGNIZE THAT THE PERFORMANCE OF EVERY INDIVIDUAL REFLECTS UPONOUR TEAM.
A Month in Accounting
Post Recurring Journal Entries
AccrualsMortgages
Depreciation/AmortizationBank Reconciliations
Budget Variance Review
GPR Journal EntriesBalance Sheet Account
ReconciliationsRecaps
andManagement Fees
Daily Auditing of batches prepared by the propertyReceipt Batches
Payables Batches
Monthly Auditing of Resident LedgersNew Move insConcessions
Deposits Lease dates and Charges
Monthly Audit of DepositsPhysical Audit of Receipt Books to Deposits in Yardi
Quarterly in AccountingRequest Lender Reserves
Quarterly FinancialsDistribute Quarterly Reports
Process Quarterly Distributions
AnnuallyPrepare YE AJEs
Work with CPAs for Tax ReturnsReview Tax Returns
Distribute K-1s
OtherNew Acquisition Set up
Track Investor fundsUpdate Investor Information in Database
Monarch Investment RecruitingTransforming lives, one career at a time!
Leaders in Multifamily Housing
Anthony T Petrone
Anthony T PetroneMonarch Recruiting
Kane MadsenRegional Recruiter
Tracy WestphalenRegional Recruiter
Steve JenkinsRegional Recruiter
Samantha GylesRecruiter
Megan LambertAssistant Recruiter
The hidden costs of turnover!
Ads & Recruitment
Lost productivity /rent
Institutional knowledge
Effect on rest of team
Training
Navigating a career path within Monarch Investment!
The recruiter, a guide to the perfect hire!
So
urc
ing t
ale
nt!
Draw top talent to Monarch!
Monarch Corporate Reputation Management
We can always use your help!
In It Together
The Best Multi Family Company in the Industry
Superior Results to all Stakeholders
Residents ~ Staff ~ Investors
President’s Club Award for Property Managers
Medal of Honor Award for Maintenance Supervisors & Rovers
Golden Hammer Award
Marketing Metamorphosis Award
Team Building Award
• Tool Reimbursement• Boot Reimbursement• Tuition Reimbursement• Employee Discounts• Ski Monarch Perk
Monarch Employee Participation Program and Profit Interest
• 650+ Active Employees with MEPP and/or PI• $54 Million in Profit Interests has paid $26 Million in
Distributions• $9.5 Million in MEPP has paid over $2 Million in
Distributions
In It Together
The Best Multi Family Company in the Industry
Superior Results to all Stakeholders
Residents ~ Staff ~ Investors
Lorraine Vega
Director of Training
Why Training?
• Increased job satisfaction and morale among employees.
• Increased employee motivation.
• Increased efficiencies in processes, resulting in financial gain.
• Increased capacity to adopt new techniques and methods.
• Increased innovation in strategies and products.
• Assist with onboarding and facilitate ongoing training.
• Provide opportunities to enhance the knowledge, develop employee skills and enrich property performance.
• Share industry knowledge, tools and best practices.
• Assist with all company initiatives in an effort to better support our Properties and their Operations.
Our Department Goals
• On-site Operations Trainers – Maria Capalongo & Sada Davis
• Property Management Software Trainers – Marcie Trivette & Rapheal Stevenson
• National Leasing Trainer – Ian Morris
• National Maintenance Trainer – Angel Davila
• Training Specialist & Support – Angela Faria
Our Subject Matter Experts
Hands-on and In-person Training
Regional Managers
35 Regionals
6 Properties per Regional
19 Assistant Regionals
6 Properties per Assistant Regional
Regional Checklist - Weekly
Weekly Week of Week of Week of Week of Week of
Who? Notes:
Monday Reports
Review Delinquency Tracker & collection efforts
Review Availability Report and Make Ready dates
Friday Underperformer Report if required
Approve Leasing Specials
Credit Adjustments
Credit Card Approval
Time America-review exceptions
Deposit Dispositions
Payable Approval
Review Open Positions List & manage
Monitor Reviews- Review Push
Review Payscan to ensure payables posted
Purchase Order Review
Regional Checklist – Monthly & QuarterlySnow Logs/seasonally
Create Monthly Calendar
Shredding Checks-check compliance
Pre-Move Out Inspections-confirm
Renewal Inspections-confirm
Renewal offer Letters Uploaded into Yardi
Renewal Review/Approval at 120 days
Review Lease Expiration Matrix
Resident Care Letters Sent-confirm
Final Renewals/MTM charged on 25th
Preventative Maint Binder Review
Work Order Audit
Credit Card Approvals
NOI Projections to Asset Manager
Reclass SP payroll
Review financials before month end
Review financials with on site teams
Review monthly recap report
Underperforming Checklist Review if applicable
Final Financial Review w/Asset Mgr as requested
Monthly
5-Day Notices w/affidavit Reviewed & saved
Receipt Book Sent to Franktown
Drop Box Logs to Accounting
Delinquency Calls with Properties
Financial Review Audits- follow up with sites
Calculate Prior Month Delinquency Bonus
Commissions-Leasing and Renewal
Submit On Call Bonuses for maintenance
Review Market Rents for increase potential
Review Asset Directory vs. G/L
Review Renters Insurance Compliance
Safety Meeting Rosters Sent to Lorraine
Grace Hill-Assignments & monitoring
Review of website/advertisers
Meet with L/M specialist for monthly review/expectations
Listen to 2 phone calls a month from leasers
Newsletter-review
Collections Sent to Hunter Warfield
File Audits
Monthly Site Inspection
Monthly Smoking Inspection Confirm
Site Light Checks Confirm
Quarterly
NOI bonuses
Manager Meetings
Quarterly Recap Review
Site Inspection
Monday Morning Report
• Summary
• Staffing
• Occupancy
• Renewals
• Marketing
• Maintenance
• Financials
• Delinquency
• Delinquency Tracker
• Renewal Tracker
Monday Morning Report
March 2019Sunday Monday Tuesday Wednesday Thursday Friday Saturday
March marketing calendar due to
regional and marketing specialist
before 1st of the month.
1 Destroy checks 30 days old and
send in receipt books. Email
regional and acct. tracking number
Time America for the week due
by noon except Friday punches
2 Go into credit card and code any
transactions for the week
Manager or Asst Mgr come in to
run checks
3 4 Monday Reports due by noon
Check Friday pm punches and
enter any OT from weekend by 9
am and approve
5 PO’s/Dispos Due enter assets 6 All negative charge request in
Google Drive by noon or batches to
regional
3/5 days due and charge backs,
follow cash control policy and
email Regional when ready to
check
7 8 Time America for the week due
by noon except Friday punches
Bob Report underperforming
Run open PO report
9 Go into credit card and code any
transactions for the week
10 11 Monday Reports due by noon
Check Friday pm punches and
enter any OT from weekend by 9
am and approve
Destroy checks 30 days email
regional
12 PO’s/Dispos Due enter assets 13 All negative charge request in
Google Drive by noon or batches to
regional
14 Renewal Tracker for June due
Market survey due for properties
over 93% otherwise every Monday
15 Time America for the week
due by noon except Friday
punches
Bob Report underperforming
Run open PO report
16 Go into credit card and code any
transactions for the week
17 18 Monday Reports due by noon
Check Friday pm punches and
enter any OT from weekend by 9
am and approve
19 PO’s/Dispos Due enter assets
Pre-inspections for next 30 days of
move outs. April maintenance
schedule due by 3/22
20 All negative charge request in
Google Drive by noon or batches to
regional
Vision X update to regional for your
team. Needs to be caught up by
month end. Send exceptions report
and schedule.
21 Month End checklist email to
regional and accountant
22 Time America for the week
due by noon except Friday
punches
Bob Report underperforming
Run open PO report
Do a final PO run don’t wait for the
last minute
23 Go into credit card and code any
transactions for the week
24 25 Monday Reports due by noon
Check Friday pm punches and
enter any OT from weekend by 9
am and approve
LAST DAY TO PROCESS PO’S
OR PAYABLES. You can still
process new invoices that come in
after this just post them to April
26 Past A/R due. Once turned into
collections email regional and the
accountant.
Commissions and ALL bonuses
due by noon
27 All negative charge request in
Google Drive by noon or batches to
regional
28 29 Time America for the week
due by noon except Friday
punches
Bob Report underperforming
Run open PO report
30 Go into credit card and code any
transactions for the week
Destroy checks 30 days old and
send in receipt books. Email
regional and acct. tracking
number by end of the day April
1st.
Asset Management Via
The Monday Report
Bob Nicolls
Monday Report
• Received for Each property every Monday afternoon.
• Managers pull a Yardi Summary report and are expected to extrapolate on
property performance/ goals.
• Asset Managers typically base their week and resource allocation around the
information received from the Monday reports.
Typical AM Week
• Monday- Email catch up, property review, report analysis, comment
generation, prep for Tuesday calls.
• Tuesday- Calls with Regional Managers to discuss operation plans
• Wednesday- Friday- Execute our operating plan, requires various follow up
with marketing, training, recruiting, rovers, analysts, or site visits.
• New Deals- Who Cares?
Case Study- Ashton Pines 11/5/2018
Case Study- Ashton Pines 11/26/2018
Case Study- Ashton Pines 11/26/2018
Case Study- Ashton Pines 12/03/2018
Case Study- Ashton Pines 12/03/2018
Case Study- Ashton Pines 12/24/2018
Case Study- Ashton Pines 12/24/2018
Case Study- Ashton Pines 12/24/2018
Case Study- Ashton Pines 01/07/2019
Case Study- Ashton Pines 01/28/2019
Case Study- Ashton Pines 01/28/2019
Case Study- Ashton Pines 02/18/2019
Case Study- Ashton Pines 02/18/2019
Case Study- Ashton Pines 03/04/2019
Case Study- Ashton Pines 03/04/2019
3/5/2019
Marketing Department
• Structure & Personnel
• Reputation Management
• Digital Marketing Strategy
• Website Health (SEO)
• Communication Touchpoints
• PPC campaigns (Facebook AD’s / Google AdWords)
• Social Platforms
• Assess new digital marketing tools & products
• The Goal is to Increase Prospect Conversions
Structure &
Personnel
Corporate Structure:
• Marketing Director• Digital Marketing
Coordinator• SEO Analyst • Graphic Designer
Regional Structure:
• 2 - Regional Marketing Directors
• 25 - Leasing & Marketing Specialists
Reputation
Management
“57% of
consumers wont
use a business
or product rated
below 4 Stars”
Digital Marketing
Strategy
• Website Health
• PPC Campaigns
• Social Platforms
• Access new tool &
Products• Drive Quality Traffic
Database, Reporting, & Corporate ServicesCurtis Pottle, Database & Reporting Coordinator
• Team of about 10 people• Database and Reporting Coordinator
• 2 Database and Reporting Analysts
• Website Developer
• 1 Payroll Analyst
• 1 Payroll Coordinator
• 3-4 Corporate Services Analysts
• Rotational Analyst
Snow White & 7 Dwarves, 2018 Halloween
Database & ReportingGoal is to increase the number of properties that managers & accountants can work on and assist other departments by providing reporting and analysis as necessary
Create reports, automated emails, and other tools
Work across multiple databases and vendor systems
Database and Reporting Sample Review
Vacant Utility Billbacks• 2x monthly review to see if units receiving vacant electric/gas bills were actually vacant
during that time
• Bill back to those units which were not vacant, and charge fees to resident
Employee Website
• IT Support
• Referral Bonus
• Transaction Tracker
• Credit Card Request
• Vendor Setup
• Legal Incident Report
• Training Manuals
• Departmental Resources
Corporate Services
Monarch’s newest department is a spinoff of Database & Reporting group
• Procurement & Sourcing
• Project Management & Implementation
• Process Improvement
• National Vendors
• Evaluation of new vendors and projects
Corporate Services Example Project
Elvis Dumervil -- Free Agency Fax Faux Pas Michael Boulton - Destroyed this machine in a field
K-1s
• 150,000 pages of annual K1s and growing• 60% of K1s delivered via electronic access only
• All K1s stored online since 2016 tax year
Visit our booth for more info or to sign up for Online K1 accessTidying up with Marie Kondo
Advantages of Online K1s
Faster delivery• Up to a week faster, not including time spent in the mail
• No need to drop off at a CPA office if CPA has access
Secure platform to store several K1s since 2016 tax year
No risk of having personal info sent via US Mail
Visit our booth for more info or to sign up for Online K1 access
Monarch Legal Department
• Geoff Frazier – General Counsel of Operations• (303) 607-7917
• Ande Yahr – General Counsel of Real Estate• (303) 607-7919
Who Are We?
• Geoff Frazier, General Counsel of Operations, joined Cheri Lewis in 2013;
• Ande Yahr joined as General Counsel of Real Estate in 2015;
• Heather Scott hired in late 2015 as Assistant General Counsel;
• Mark Wicker: Compliance/Risk Manager – hired in 2016;
• Natalie Gates: Legal Assistant;
• Kristina Ellis: Law Clerk (3rd year law student at DU)
Operational Legal Issues
• Litigation: “I fell down! Pay me!”
• Fair Housing Compliance & Claims
• Offensive Claims
• Emergency Response/Assistance: fires, floods, tornados, crime, locusts, etc.
• Insurance coverage and claims
• Policies/Procedures/Resources for Field
• Employment issues
• Vendor Contract Drafting/Negotiation
• Training/Compliance
• All the “weird stuff ”
Transactional Group
Transactional Matters
• Acquisitions, sales and financings
• 1031 accommodation/tenancies-in-common
• Limited liability companies
• Securities
• Membership interest transfers and investor communications
• Commercial contracts
• Interests in real estate
• Eminent domain
• Misc. corporate and real estate related matters
Closing Remarks
Questions?
Please visit each group’s department table starting at 1:30