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What have I gotten myself into!!!I need advice

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  • KrisinWA
    replied
    Originally posted by BRSMGMT View Post
    You all are so great, and you have given me a lot of ideas.
    This building was formerly an office/industrial space. The total lot size is 400,000 square feet and I estimate the interior to be at least 100,000 Sq ft.

    This building use to be light industrial and office space. The building is probably 50+ years old.

    I am not building inspector but in addition to the new roof, it needs brick work on the outside, large parking lot repaved.

    I did find an independent landscaper to help me fix the building so it looks less like Freddy Krueger lives here. He will do the job for almost $300 less then my current landscaping company.

    I found a person to help me clean section by section. Still pricey but it's a start.

    The company I work for is great, they are a 3rd party management company. I have not met the owner, I am sure this property is trying to balance the repair cost vs. income generated.

    I guess prior to my arrival this building did not even have heat in the office so they shut down for a few months for employee safety. At least there is heat new, 85% of the roof has been patched so now it is a giant clean up effort. I am looking into getting more help for that.

    I just have to remind myself I am only one person and there is only 8 hrs in a work day.
    I'd move everyone into the 85% fixed areas to avoid more issues. Sounds like you're getting a battle plan together-good luck!

    Leave a comment:


  • KrisinWA
    replied
    Are you in North Carolina?

    Leave a comment:


  • BRSMGMT
    replied
    You all are so great, and you have given me a lot of ideas.
    This building was formerly an office/industrial space. The total lot size is 400,000 square feet and I estimate the interior to be at least 100,000 Sq ft.

    This building use to be light industrial and office space. The building is probably 50+ years old.

    I am not building inspector but in addition to the new roof, it needs brick work on the outside, large parking lot repaved.

    I did find an independent landscaper to help me fix the building so it looks less like Freddy Krueger lives here. He will do the job for almost $300 less then my current landscaping company.

    I found a person to help me clean section by section. Still pricey but it's a start.

    The company I work for is great, they are a 3rd party management company. I have not met the owner, I am sure this property is trying to balance the repair cost vs. income generated.

    I guess prior to my arrival this building did not even have heat in the office so they shut down for a few months for employee safety. At least there is heat new, 85% of the roof has been patched so now it is a giant clean up effort. I am looking into getting more help for that.

    I just have to remind myself I am only one person and there is only 8 hrs in a work day.

    Leave a comment:


  • Clarkstoragellc
    replied
    Take advantage of the situation if you can. Lemons to Lemonade. Get an estimate on the Roof. Then make a lowball offer to buy from the owners.
    Why do all of the work, if you don't reap the rewards. Basically your being asked to put Sweat Equity into the game without a payoff.

    What's your financial occupancy and what is your potential financial occupancy numbers. Example: $10,000; could be $30,000 per month. Based on the current revenue and the cost of the roof; make an offer.



    Its Covid time, hire a person on an hourly basis: If you can't find someone; contact a local Lawn Service and see if they can do.
    a. Buy them a sprayer and insecticide and tell them to spray the entire building inside once a week for the next month.
    b. Same sprayer, buy brush killer and/or 24D and have them spray the outside in 2 week intervals. Then clean the brush.
    c. Hire them to open and sweep out each empty unit.
    d. Rat poison everywhere.
    e. Door latches, show them how to replace one. Not worth "fixing" them.
    f. Fixing doors is a two person job. Hire a Garage door company to fix them.
    g. Electrical and Plumbing, you have to pay them, unless you can get a handyman from a workforce labor service.

    If the roof is still leaking; leave. Not worth putting the time into the location.

    Leave a comment:


  • KrisinWA
    replied
    Welcome!

    Frankly-it sounds like the facility is on the way out and they want a body to ride it out to the end.
    But if not, then the roof is the first priority. Can you get up there yourself and see the issues? I did that at both of my prior facilities (I have been on the roof of this one as well) and I took tons of photos and forwarded them with an email of what needed to be done. If they are so truly hands off, get roofing quotes-at least 3. Maybe it could be covered by insurance if the damage was caused by weather etc.
    Figure out what section has the most tenants currently and start there with repairs and cleaning. Triage your problems and decide if you need a pro to fix or can you do it.
    Do what you can and document the rest for the ownership.

    Leave a comment:


  • Bighank
    replied
    Break it down into small bites. My first property had 17 managers in 5 years. I did what I knew I could do and bartered the more technical repairs. It took a year, but we got the property up to 5% occupied from 45%. I would not do any marketing until you can be proud of the property. Talk to the mgt. team and ask what they plan as far as repairs. Sometimes the muckety mucks don't tell us minions what be happenin.

    Leave a comment:


  • Orkocean
    replied
    Make a list, prioritize, tighten up your belt and get to it. Cleaning is cleaning... broom, dustpan, rolling trashcan and just do a section at a time if you're the only one working there so you don't leave the office closed nonstop. If they have another location anywhere nearby with some staff ask if you can have one come over to provide assistance, even if it's just in the office covering so you can focus on the property. Even if all 7 sections are 50 units that's only 350 units which isn't very many. Only 40% occupied so i'm assuming quite a bit of nasty units as well as i doubt any prior managers kept up with empty units. Broken things, google and see if it's something easy to fix. Latches for instance are pretty simple fixes as long as you have the replacement. If the company allows it, get to know your customers and see if anyone of them provide some services you need and barter their rent in exchange. If the company really is that poorly managed that they wont get you what you need to do your job or the help on projects that actually need it, look elsewhere...

    Leave a comment:


  • bnr_manager
    replied
    BRSMGMT oh boy, sounds like you need a bulldozer.

    Didn't he/she also mention that half of the roof was leaking in that building? Sounds like a lot of negligence from everyone: a previous manager, contractors who built it, and the owners that let it go this far.

    Leave a comment:


  • Gina6k
    replied
    The owners need to invest in the property to make it profitable. I'd suggest hiring out what you can and paying for the services you really need professionals for. Then focus on marketing the newly renovated property. You can't in good conscience rent out a haunted house style unit. But if you do, I'd bet it would be less than desirable type tenants that would rent. Which of course would cost even more money in the long run.

    Make a check list of known issues to be addressed. Then get quotes for what needs to be hired out and present it to the owners. Also, if you're okay (and allowed) look for kids seeking to earn community service credits, if there is such a thing right now in these COVID times and get them to clear out bush and debris for you. You'd be amazed what young, motivated bodies can accomplish in a few hours time. Good luck and please keep us updated along the way.

    Leave a comment:


  • Kevin SC
    replied
    Come on down to BRSMGMT's Storage and Haunted House!

    All joking aside, you seem like you're in a tough spot. If corporate is unwilling to help bring the facility up to standards, I might think about posting ads for help locally. A lot of what seems to be had is "clean up" and not specialized, so you might be able to find some help for cheap. For the specialized jobs, you might just have to present corporate with the quotes that you're given. I would focus on phases to take care of this though, that way you can break it out between your facility's 7 sections and start renting units to each section as they are ready.

    Just my advice, but good luck.

    Leave a comment:


  • Bubba
    replied
    Sorry, it sounds like you have bad owners.

    Our facility was as wonderful as yours, maybe a touch nicer, but I went around and made a list of what needed to be done. It wore my butt off getting it all done, I did farm out some things to contractors, but over a few months, you will get there.

    Leave a comment:


  • BRSMGMT
    started a topic What have I gotten myself into!!!I need advice

    What have I gotten myself into!!!I need advice

    Hi,

    Here is a little backstory since I am new on this site. I am about 1 1/2 hours away from Chicago, in a very affluent neighborhood.

    I have been at this job for 1 month, Only have indoor storage in an old building that is falling apart. I am at 40% occupancy due to a massive roof leak last year. Now the building is also being changed, more than
    half of it is no longer climate controlled.

    This building is so large, I have 7 sections with each section having at least 25-50 units. I am running it SOLO.

    I was told when I took this position that it was a challenging building and the prior manager let a lot of things go. Eager and up for the challenge I took the job. CHALLENGING, uhm there has to be a bigger word.
    As you walk through the corridors between the units you can smell the dirt and feel cobwebs (hopefully not spiderwebs) scrape across your arms and face. It is disgusting, thick white webs like in a horror movie.

    I am dealing with is broken doors and locks, exterior is like a jungle with overrun vegetation. Electrical and plumbing issues.

    How do I clean this place up? I have only one small pedestal bathroom sink, no slop sink in a janitor closet, no electrical outlets other than my office. I can not do it all myself and the quotes I have gotten for some extra help is outrageous.

    What I have learned is that my company has over 150 other locations and I have the worst one. No other site looks, and functions like mine. How do I market to potential new renters when I would not rent a place here. What equipment do you all use to keep your property looking good. Do you hire outside companies on a regular basis?

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