Overview | Our “Green” Initiatives | Our Property Management Experience with Senior Communities Ages 55+ | Our Takeover Teams | Our Systems | Our Property Management Services | Our Special Teams | Our People | Our Safety Training Program | Our Master Insurance Program | Our Experience | Our Reputation | Our Due Diligence | Our Affordable Housing Division | Our Conventional Apartment Management

OVERVIEW

Being a client of Terabon Real Estate opens the doors to the vast resources offered by professionals working with national leaders in real estate services and investment management. TRE, led by a management team with extensive experience and a track record for creating value, provides innovative real estate equity and debt solutions tailored to address the needs of their clients and investors.

Terabon has resources and in addition, to leaders that provide short term bridge loans secured by mortgages on conventional and affordable multifamily properties to be refinanced by loans sold to Fannie Mae, Freddie Mac, and FHA through Centerline Mortgage Capital, which is an agency lender in which an affiliate owns a substantial equity interest.

OUR “GREEN” INITIATIVES 

At Terabon we provide long-term cost-saving strategies through our Green Operating and Maintenance Manual which is customized for each property. Our team stays abreast of the latest in responsible building technologies which enables us to advise our clients on how going “green” can positively impact their bottom line.

We work with our clients to facilitate energy audits and take advantage of rebates on energy-efficient electric and water devices as well as systematically retrofitting plumbing fixtures through the budget process. In addition, we promote recycling and the use of alternative “green” products for cleaning and flooring.

Terabon has partnered with Competitive Resources to undertake energy audits at all our locations. This includes updating light bulbs to energy-efficient bulbs, installing door sweeps, increasing insulation, and testing/modifying airflow in our apartment homes.

For construction/rehab, we have the experience and expertise to incorporate “green” construction practices into capital project plans.

OUR PROPERTY MANAGEMENT EXPERIENCE WITH SENIOR COMMUNITIES AGES 55+

Because senior communities age 55+ have different needs and issues, Terabon prides itself in exercising great flexibility in the manner in which we structure our involvement on these assets. We arrange our services in a way that best meets the goals and objectives of our owners with senior assets. Over the past 25 of working throughout the industry, we have developed policies and procedures to address virtually every aspect of the day-to-day property management operations of a senior living community including:

OUR TAKEOVER TEAMS

Terabon has regional takeover teams able to deploy on short notice to assist clients when ownership determines there is a need for a management transition at one or more communities. These takeover teams are comprised of senior regional/district managers experienced in all types of management transitions and who heads a group of property management professionals that include seasoned property managers, marketing specialists and training personnel, software support, construction project manager, maintenance staff and, when required, staff members from our affordable housing division. Our takeover teams work in tandem to ensure that by the close of business the asset is secure and ready to open its doors the next morning under Terabon.

Some of the tasks our takeover teams perform include the interview and assessment of current personnel and processing of background checks and drug screening for those interested in continued employment. All unit interiors and exteriors are inspected, and comprehensive schedules are prepared on items needing deferred maintenance or capital work. In addition, lease files are audited and compared to the current rent roll to ensure correct balances are carried forward to our state-of-art property management software, and key information is gathered to develop a management plan to meet the owner’s goals and objectives.

OUR SYSTEMS

ACCOUNTING AND FINANCIAL REPORTING: Timely and accurate information coupled with professional interpretation is critical to the success of any community. The accounting group at Terabon provides financial reporting and analysis for all communities we manage. Our advanced technology systems allow us to provide financial reporting in a format to meet a variety of client needs and lender requirements. Our accounting department will handle all your accounting requirements including payables, receivables, proper account coding, and bill reconciliations replacement reserve packaging to conform to lender and agency requirements as well as your needs and deadlines. Communication is the key to effective client relationships, and we will keep you informed of your investment’s progress in a manner acceptable to you.

INTERNAL AND REGIONAL TEAMS/OPERATIONS: Terabon is a full-service property management company with all the necessary in-house experience to ensure the best service to our clients in managing their real estate assets. Included in these internal and regional teams are accounting, auditing, and financial reporting, compliance, training and education, human resources and payroll, software support, marketing and maintenance, and construction professionals. We believe it is vital to have quality staff members in the field that are within proximity to the sites they supervise. Our supervisors and their support teams spend the majority of time at the residential communities they manage and believe strongly that you must “inspect what you expect.” We constantly monitor the operational results of each investment to ensure that we are allocating the resources necessary to ensure quality performance

BUDGET PREPARATION, ANALYSIS, AND COST CONTROLS: The team at Terabon works closely with clients to define and prioritize goals and objectives for each community. We search out the most cost-effective vendors and suppliers without sacrificing quality and service to the asset. Our objective is to maximize income while minimizing expenses for each multifamily asset we manage. To assist in this process, detailed line-item budgets with capital expenditure plans are prepared and shared with all personnel to ensure the entire team is focused on attaining operational goals. This important tool is used in conjunction with a budget control log and utilization of the purchase order system available with our sophisticated management software.

Terabon also provides accounting and financial reporting to other independent owners/investors, lenders, conventional, affordable housing authorities, and state reporting agencies.

OUR PROPERTY MANAGEMENT SERVICES

The traditional functions of property management are marketing, collections, and accounting.  Our capabilities in these areas are exceptional as we learned long ago there are no shortcuts to success.  These traditional services are only one aspect of a wide range of support services we offer our clients.  From the day you consider a purchase and for as long as you own the asset Terabon will utilize its experience and expertise while working with you to maximize the return on your investment. 

Our services include onsite employee staffing according to client-approved budget, property management supervision by a qualified regional/ district manager, capital improvements and construction, invoice processing and payment, financial reporting, annual inspections, marketing and leasing, preventative maintenance, collections, contracts administration, compliance supervision, auditing and reporting, marketing/lease up, construction and rehabilitation management, and due diligence.

OUR SPECIAL TEAMS

HUD/REAC INSPECTIONS: With a successful track record supervising HUD-financed and HUD-contract sites, Terabon maintains a HUD 2530 that makes us fully certified to manage properties with HUD affordability restrictions. This certification is based on previous HUD experience, qualified property management professionals, and successful management reviews by HUD personnel. Members of Terabon also participated in more than 100 REAC inspections over the years and have developed specialized REAC teams to ensure success in achieving passing REAC scores for our clients.

CONSTRUCTION-REHABILITATION MANGEMENT: Terabon adheres to best practice policies to create value for our clients. With over 30 years of experience, we diligently research and find the best contractors to provide the best value for all repairs, rehab, and capital improvement projects and to ensure projects are completed within budget and on schedule. We have access to proven contractors, product warranty oversight, and preferred pricing that is passed on to our clients through Terabon’s national account affiliations. We will assist you in developing specific improvements to add long-term value, a competitive edge, and provide you the best return on your investment.

MARKETING/LEASE UP: Our marketing philosophy is straightforward: Know your product, know your competition, develop and install a complete resident retention program, set precise goals and objectives, and clearly communicate these goals and objectives to the on-site staff. Because our management team has significant experience throughout the U.S., we track competitive property statistics, occupancy levels, amenities, rental rates, promotions, and concessions. This allows us to respond quickly to market opportunities and strategically position each multifamily asset we manage to compete most effectively and maximize net operating income for our clients. We do this by employing innovative marketing strategies and proven techniques to best position each multifamily asset in the marketplace and increase income by (1) developing a comprehensive and long-term management plan, (2) performing market studies, (3) advertising and promotion, (4) market research and (5) lease-up specialists. We also have extensive experience with “re-leasing” renovated communities, including coordinating “in-place” renovations and resident relocation when necessary.

OUR PEOPLE

TRAINES/QUALIFIED STAFF: The support and training that Terabon team members receive are unparalleled. We recognize our greatest asset is the team members in place in the communities and the management team supporting them. Our comprehensive and ongoing training program is designed to ensure team members are trained in all facets of property management resulting in the best results for you. All qualified employee candidates undergo a background and criminal check and, based on the position, personality testing to ensure proper placement. In addition to our one-on-one training, monthly Team Meetings, and group Safety Meetings, all onsite employees are required to successfully pass mandatory coursework throughout the year offered through the Terabon Online Learning Academy. We encourage all employees to participate in advanced training and offer opportunities to attain advanced affordable housing professional certifications.

INDUSTRY EXPERIENCE: Many of our property management teams belong to recognized industry organizations. Others hold one or more Real Estate Broker licenses, Certified Property Manager (CPM)™ designations, are licensed Certified Public Accountants, hold degrees in business administration, management, finance, real estate, and accounting, or have been on the board of directors with multifamily associations and organizations. Our current property management supervisory staff has 25 plus years of experience in all aspects of property management.

OUR SAFETY TRAINING PROGRAM

Terabon is committed to reducing risk and increasing the safety of employees and residents of our communities. Terabon’s Risk Manager is responsible for ensuring success with the company-wide Safety and Accident Prevention Program.

The program takes a proactive approach to safety with ongoing education and training as well as the implementation of Operations and Maintenance plans to mitigate risks from environmental hazards. We strive to create a culture of safety at each property we manage with regular preventative maintenance and safety inspections as well as a comprehensive annual community assessment. Properties are required to perform semi-annual smoke and CO2 alarm testing as well as checking for unreported hazards in the units such as plumbing leaks or moisture intrusion. Loss and injury records are reviewed to ensure education and training programs are addressing critical needs and that every effort is made to reduce the cost and suffering from workplace accidents.

Terabon’s safety program is constantly evolving to meet today’s needs and includes programs such as Workplace Violence Prevention, Fall Protection, and Heat Illness Prevention. Covid-19 requirements based on local Cities'/State’s mandates.

OUR MASTER INSURANCE PROGRAM

To participate in the program, clients just need to complete a property questionnaire and provide a loss history. All properties that satisfy the master insurance program requirements will work with the Risk Management Department in obtaining coverage, insurance premium invoices and certificates of insurance, as well as any other additional insurance needs.

OUR EXPERIENCE

Terabon has more than 30 years of extensive experience in most aspects of multifamily property management. This experience includes market-rate housing, student housing, senior housing, military housing, affordable housing, manufactured home parks, homeowners’ associations, high/mid-rise, garden-style, and retail. Founders of Terabon have a successful track record with repositioning troubled assets, new construction lease-ups, and major renovation projects.

Our vast property management experience includes supervision of hundreds of apartment communities located throughout the United States.

OUR REPUTATION

Our teams in the industry are well known for our reputation of excellence. As markets evolve and the investment climate becomes increasingly complex, your need for a management company whose focus is obtaining your goals becomes more and more critical. Terabon is uniquely qualified to serve your needs. We have a simple mission that is to be the best management company in the U.S. We firmly believe in the basics of sound property management: "Find the best staff you can, train them thoroughly, set precise goals through an aggressive budget and continue to strive for the best performance." We will not only provide your residents with the best living experience we will give you the client the best experience.

OUR DUE DILIGENCE

Terabon has a discriminating due diligence team to help identify select opportunities that meet the investment profile for each client. Our in-depth knowledge of the local market trends, including market surveys, statistics, occupancy levels, amenities, rental rates, and concessions allows us to customize an asset management report that provides the client with comprehensive information about every facet of the property’s marketing, financial and operational status. Components of our due diligence include a market assessment, unit availability and pricing, staffing, exterior inspections, unit interior inspections, and lease and compliance file audits if required. For affordable communities, we complete an audit of existing housing program compliance and develop a detailed plan to implement upon takeover.

OUR AFFORDABLE HOUSING DIVISION

In the affordable housing arm of Terabon, we will establish the support owners with affordable housing program needs. Our in-house compliance department provides the expertise and leadership necessary to provide the on-site team members the appropriate training and support necessary to implement program requirements properly and expertly. We will have the ability to manage and provide accurate, timely reporting to many housing authorities, HUD, bond administrators, and tax credit entities throughout the country. These services include monthly and quarterly certification, voucher billing, and Project Status Reports for the tax credit, Bond communities. We also provide Annual Owner’s Compliance Reports and contract administration and renewal. Our compliance staff also conducts file audits at takeover, annually or as required, initial and annual resident recertification, and the review and approval of all resident paperwork to ensure program compliance at each community. Our compliance professionals hold the following affordable housing designations:

OUR CONVENTIONAL APARTMENT MANAGEMENT

For conventional multifamily clients in California, the founders and its principals have managed all classes of multifamily properties in all economic environments. The experience gained from managing over 100,000 units across the United States has allowed us to hone our property management skills and develop systems that provide extraordinary results to our clients.