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Less than average value.
From:
-Anonymous-
Date posted:
11/9/2003
Years at this apartment:
2002
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2003
1 response
This probably applies to any new complex. One aspect that TCRS -Trammel Crowe Residential Services prided themselves on was the fact that the Owners built this complex and intended to keep it. Four months after completion, HUP (the former owners) flipped it. This is common among builders and investment groups who have limited experience in rental property management. The new owners kept TCRS as the property manager and then TCRS realigned the staff. The folks that were let go or reassigned were quite good. They left one leasing person who was helpful and reasonable and brought in a new manager. This was now the office staff. It effectively amounted to one person. TCRS apparently quoted the owner a new management contract rate and immediately worked to trim things to the bone. The new manager as other reviewers have mentioned was not up to the task. And I am being polite. But the assessment reamins the same. She did not have the ability to reason or work with residents who were very savy. I am not sure what property she would be qualified to manage in that she had a total lack of understanding pertaining life, safety, health, and welfare issues. And this understanding is a requisite of any good property manager.
The direction of this management was unveiled at a mini-community meeting she held. It was not pretty.
The water billing arrangement was also a messy thing that was poorly handled and attributable to TCRS's overzealous approach to making this property a zero cost investment for the owner by passing costs along to the residents that were originally to be borne by the Owner per the lease agreement. I doubt that TCRS even passed the cost recovery along to the Owner.
In terms of the rodent infestation. It can be attributed to the open pipe chases between units and the open accesses underneath the kitchen cabinets and through the pipe accessways under the sinks. I found out about this the hard way after leaving cokies to cool after baking. Upon returning to the apartment I had discovered that a visitor has rearranged several of the cookies. The hunt was on. The apartments around me were recently vacated and the first floor units probably provided thankgiving dinner for a mouse on a regular basis given the level of intermittent housekeeping that took place. The mouse eventually found were the cheese had been moved to. Three traps, peanut butter, poison packs, two cans of expanding foam, and a partial roll of duct tape I solved the problem. Agter living in apaertments around the country for 18 years low tech solutions are the best remedy for low tech problems.
The number of corporate apartments at this community contributes to the many idiosyncracies that make this complex cahllenging. The corporate units will rotate people through and because the people are on temporary assignment they do not treat this complex like home, hence the carelessness about parking, trash removal, pet debris pick up and the like. Folks that have been here tend to keep to themsleves and like it that way.
There are a lot of folks who are waiting for their house to be completed and have managed to cram everything they own into the aprtemtn or garage. These foks seem to be very pleasant. Maybe it is because they know the end is in sight.
Holland takes over-
Mckenzie wasn't the only facility that Holland took over. They also assumed the management of Tammaron Ranch which was also previously managed by TCRS (go figure). there may be others. I can say that the attitudes of the leasing staffs was very good but misleading. Primarily becasue they really did not know what the residents have to endure.
Things have been quiet since Holland took over. And that has been good. They are all business. They handled the first phase of the parking lot seal coating with ample warning and stuck to a schedule (or at least made the contractor stick to it). Holland holds a lot of promise. I think things will indeed improve over the long run particularly with the competition that is popping up nearby like Adagio and Homecoming.
Construction-
The apartments are quiet for a normal set of neighbors. They will not handle the 20 somethings partying all night. It is not permitted for starters, but sometimes, newcomers believe that rules are foo everyone else.
The general craftmanship is satisfactory for this type of building. It is no different than the that of the homes going up nearby. I watched Mackensie get built and have seen US Homes, Beazer, and others. They all meet code. Multi-Family construction often has to meet a higher grade due to the wear and tear factor and other safety requirements such as sprinkler systems. However, the finish and final cleanup could have been better. I pulled off all of the vent covers to remove the excess wallboard dust and gunk. I also have been changing my own air filters. It would have only been changed once since I have lived here.
The fair market value without the addition of tangible amenities for a two bedroom/ 1 bath should only be $1000.
One way that Holland could accomplish this is to provide amenties that make sense. Not charging an hourly rate for the clubhouse was a good start. When folks pay in excess of 1200 dolars for a place to live they do not like to be nickeled and dimed to death over things that they have no control.
Holland holds alot of promise provided that SI listens to Holland and lets them do their job. This is not a property that can command a high return for an Owner in a short period. And that's what may have been presented by TCRS. There is likely to be some retrenching to fix the sins of the past.
McKenzie is worth looking at but look elsewhere as well. Skip any property managed by Fairfield. Any and all committments need to be in writing including the appartment no. with some stipulation about what 'in kind' substitution actually means. Cross out the statement.
Also note two other nearby properties Trovas and Miramonte are two communities where the question about how long the Owners have owned the facility and how long the management co. has been working it and how long they will continue should be asked. Often the leasing agents will just smile and give a non-committal answer. Press for committment and the real truth. You will be walking into your living arrangements with both eyes wide open.
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User Responses
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From:
anexpertsopinion
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Date:
12/16/2006
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I was one of the original staff built there in 2001, the average prospect has no idea the difference the cut backs the new owners made. TCRS used to be a well respected company based in Silicon Valley, but like alot of companies that had alot rolling with the tech companies, the had major losses after 2001. I would like to speak with the well informed author of this post. You can reach me at salesmgr.firstactmarketing.com
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Disclaimer: No attempt has been made to verify or assure the accuracy of the claims made by the author of this opinion or responses. You must judge the truthfulness of any review and accept responsibility for your use of this information.
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