MISSION STATEMENT		In order to retain and enhance the market value of a property, an owner must strive and improve the property on an ongoing basis. With the expertise and professional property management, this is the goal that Fifth Management can achieve. Fifth Management provides at a reasonable cost, personalized and high quality services to meet the individual needs of each property.
Fifth Management provides professional real estate property management services to owners and investors of multi-family and commercial properties. Fifth Management's employees embody a team-like environment where all are considered equal and every individual contribution is important to the success of the whole.
PROPERTY MANAGEMENT
Corporate Summary & Experience Fifth Management and Consulting provides professional real estate services including property management, consulting, construction supervision and brokerage services to owners and investors of apartment and commercial properties in select markets throughout the United States. Fifth Management's clients consist of individuals, syndications, and institutional owners with diverse ownership objectives and servicing requirements.
Fifth Management is the successor to Premier Management & Consulting, Ltd. and was founded over two decades ago. It is incorporated in the State of Maryland. Fifth Management presently manages approximately 1000 multi-family residential units located in Maryland and Virginia. Among our multi-family portfolio, over 80% of the apartments are associated with Affordable Housing Programs, wherein, adherence to resident income restrictions, occupancy percentages, and debt service coverage ratios are monitored monthly and audited annually. In addition to residential multi-family management, Fifth Management provides real estate management services to commercial office buildings located in the State of Maryland. The buildings are both multi-tenanted and single tenant. Tenants include professional organizations, health service related businesses, banks, government agencies and other professional groups.
Fifth Management has an effective management program that includes: Close supervision and support of on-site employees. Constant training in all aspects of management, leasing, and maintenance. Careful monitoring of traffic and allocation of advertising dollars. Consistent maintenance and turn procedures that minimize costs over time. Concise, clear, and accurate financial reporting.
REAL ESTATE CONSULTING
Simply stated, our objective is to maximize income and minimize and control expenses. The services provided include, but are not limited to the following:
Staffing of on-site employees according to the Owner approved budget Property management supervision by a qualified employee of Fifth Management. All compensation including benefits and workers' compensation paid by Fifth Management. Full accounting of income and expenses under generally accepted accounting principals (GAAP), monthly financial reporting is available in cash basis, accrual basis and modified accrual (income - cash basis, expenses - accrual basis) :
Weekly occupancy and collection reporting Monthly financial report - 15th of each month Annual budget preparation - Owner approval by November 1st Annual employee W2's - January 31st Annual vendor 1099's - January 31st Partnership distributions - as directed
Professional accounting administration Payroll administration Construction supervision Insurance/Risk Management.
On an annual basis, the Owner is presented with the budget for review at the end of November. The budget reflects the financial objective of the Owner and becomes the operating guidelines for the Manager. The budget will be prepared on an individual and a consolidated basis for all properties in the portfolio. The standard budget includes the following:
Staffing Plan and Projected Salary Increases Unit Mix and Rent Roll Unit Turnover Costs Line Item Budget with Capital Expenditures Narrative of Budget Assumptions
When preparing the budget, at time of takeover and at the end of the year, competitive bids are solicited from all approved vendors for services. This keeps all vendors in line with labor and operating costs in the marketplace. Once the budget is established and approved by the Owner, the budget for income and expenses is implemented. The expenses are controlled by purchase orders and are monitored by the Regional and/or District Manager. Capital improvements are overseen by the Fifthmanagement central office. All bids are presented to the Owner for approval and signature. Capital Improvements will be managed in coordination with the capital needs assessment of the portfolio. This will be coordinated with the Owner and Accounting Staff to facilitate cash flow management. On-site Managers collect rents and where necessary, record the income into an onsite accounting system that is linked to Corporate. Properties have computer capabilities and record collected funds on the on-site rent collection computer program and deposit them into the local branch of the designated bank (usually Bank of America). No cash is accepted on site, only cashier's checks, money orders and personal checks. No matter where the property is located, all excess funds are deposited into the individual property's trust account, from which checks are written. Payment of all invoices and monitoring of each property's cash requirements is handled from the Corporate Headquarters. As soon as invoices are received, the payable information is input into the computer so that payables can be tracked efficiently. Once the cash requirements are determined, we work hand in hand with the property owner to assess cash requirement priorities and future budget requirement for the properties. Both intense short term and long term operational and capital planning are a must. Fifth Management participates in cost effective purchasing opportunities for a number of expense categories. The purchases made by Fifth Management on behalf of the property are at the lowest rate available for the service being provided. Fifth Management has a number of national purchasing accounts to purchase property supplies at the lowest possible cost.
AFFILIATED COMPANIES
		For over two decades, Fifth Management and Consulting, Inc. and its affiliated companies have provided professional real estate services including property management, consulting, and construction supervision to owners and investors of apartment and commercial properties in select markets in the metropolitan Washington, D.C. area, Maryland and Virginia. Fifth Management maintains a balance of specialization and diversification to remain at the forefront of our industry. Fifth Management maintains two offices, corporate office in Annapolis, Maryland and office in Richmond, Virginia.
CONTACT INFO
Executive Offices 77 West Street Suite 105 Annapolis, Maryland 21401 Tel.: (410) 268-6608 Fax: (410) 268-6779 E-Mail: info@fifthmanagement.com
Page last updated: 05/03/2007