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Westlake Assumes Management of 49 Powell Office Building in San Francisco Westlake has recently undertaken the management of 49 Powell Street, a six-story office building located between Union Square and Civic Center in downtown San Francisco. This area is considered to contain some of the city's most desirable commercial buildings. "The management team look forward to working together with the tenants of this well-located building," said Robert Klag, CEO of Westlake Realty Group. "We believe that our experience, transparent and efficient property management systems, and our strength in accounting processing will satisfy our most discriminating owners and tenants." The building, which is located at 49 Powell Street in San Francisco has been fully seismically upgraded and features operable windows as well as ADA-compliant restrooms. Its excellent natural light enhances office spaces and enables tenants to control energy consumption.
Westlake Assumes Management of Sacramento Apartment Complex Westlake has begun management of Sacramento’s Magnolia Court Apartments. This attractive, market-rate housing development of spacious one- and two-bedroom units is located on Myrtle Avenue, directly across from the American River College. It is convenient to the I-80 freeway, public transportation, shopping, and restaurants. The owner of this property also owns the Marymount Place Apartments in San Mateo. "Westlake looks forward to working with Magnolia Court’s owner and serving its tenants. We have already invested significant time in becoming familiar with the complex and plan to build on what has already been accomplished here," said Steven McDonald, vice president and general manager, residential properties. "Magnolia Court is regarded as a highly desirable place to live, and we will to continue to enhance its reputation for excellence in the community.” Set in an intimate, garden-style landscape, Magnolia Court is comprised of 64 apartments, each with a patio or balcony and an open plan kitchen. All units are air conditioned and offer free WiFi Internet access. The controlled-access complex features reserved covered parking, laundry facilities, and a swimming pool, as well as onsite management and maintenance.
Why Property Management Will Gain More Importance in a Down Market In good times with lower vacancies and higher rents, the importance of providing the highest standards of property management is not always emphasized. In fact, in a recent poll of commercial landlords the majority felt that property management firms were overall not very good. Some of the things that were pointed out were: the revolving door of property managers that came and went through their projects; lack of flexibility in accounting reports; poor follow through; lack of competing bidding on repairs and projects; and, mistakes made in operating expense pass-through calculations. Several landlords note unless you were a large REIT that the larger commercial property management firms treated them with less service overall. This coming year will offer many challenges to building owners such as higher vacancies, less revenues and tighter credit standards. To compete for a smaller amount of tenants, buildings will have to “shine” to win these tenants. That means from the lobby on up buildings will have to remain modern, clean and attractive while landlords have fewer funds to upgrade. Buildings will have to offer personal attention to their tenants to insure that they work with their tenants to survive these difficult times. They will also have to insure that they pass on all costs that they are legally able to pass on to insure maximum revenue. To meet these challenges property management companies will have to change the way they do business. They will have to invest in better people; more supplicated software and provide more personal rapport with clients. In order to meet this challenge, Starboard TCN Worldwide and Westlake Realty have formed a new company Star West Property Management Services. Star West combines two independent firms to provide personal leasing and management services with top-notch software applications. Westlake Realty has been providing property management services since 1972. In 2007 Westlake won the Northern California Property Management of the Year award. Westlake manages over 500 million dollars worth of real state throughout the Western United States. It offers a personalized financial application system that allows a landlord absolute review of everything that goes on with their property in a paperless world fully tailored to how the owner wants to view this information. It offers GPS technology to insure that support is provided and delivered as quickly as possible. It has long standing management staff that stays with a building.
Silicon Valley Business Times Names Westlake One of SF Bay Area's Largest Firms
Westlake Realty Group and Starboard TCN Form StarWest Bay Area Accredited Management Organization and San Francisco Commercial Real Estate Innovator Team to Offer Comprehensive Sales, Leasing, and Property Management Services
San Mateo, Calif. - October 15, 2008 - Westlake Realty Group, Inc., an Accredited Management Organization® and Starboard TCN, San Francisco’s largest independently owned commercial real estate firm, have joined forces to form StarWest. The new company offers a wide range of real estate–related services including sales, marketing, leasing, and commercial property management to owners of office, retail, industrial, and multifamily properties throughout the San Francisco Bay Area and several Western states. In addition, Starboard TCN has engaged the services of New York affiliate MHP TCN to pursue business opportunities with East Coast–based owners of West Coast properties on behalf of StarWest. "StarWest will offer a full menu of the services benefiting real estate owners, bolstered by the innovation both our companies are known for," said Hans Hansson, managing principal of Starboard TCN. "Starboard will mobilize its skills in marketing and leasing properties to high-quality tenants in addition to benefiting owners' assets by leveraging the strong technological advantage and superior management abilities Westlake offers." "This is a great partnership," said Robert Klag, CEO of Westlake Realty Group. "As an IREM Accredited Management Organization of the Year, Westlake brings advanced technology and superior management skills to the properties Starboard TCN sells and leases. This alliance will not only grow our two businesses but also benefit property owners who have been looking to maintain top occupancy rates and preserve the value of their real estate." About Starboard TCN About Westlake Realty Group
WESTLAKE REALTY GROUP NAMED ACCREDITED MANAGEMENT ORGANIZATION OF THE YEAR BY IREM'S BAY AREA CHAPTER San Mateo Firm Recognized for Significant Contributions in 2007
San Mateo, Calif. - January 04, 2008 - Westlake Realty Group, Inc., an AMO®-certified property management company, today announced that it has been recognized as Accredited Management Organization of the Year by the San Francisco Bay Area Chapter of the Institute of Real Estate Management (IREM). The award was presented to Steven McDonald, CPM®, Westlake's vice president & general manager, residential division, on December 21, 2007 during a ceremony held at San Francisco's famed Carnelian Room atop the Bank of America building. "It's truly a pleasure to recognize our members' achievements," said David Tripp, CPM, the chapter's 2007 president, "and we are particularly happy to present this year's award to Westlake Realty Group." "Westlake is not only dedicated to excellence in property management, it has also worked very effectively to support the San Francisco Bay Area Chapter," added Rita Hernandez, CPM, chapter president in 1999. "I'm pleased to accept this award on behalf of the Westlake team," said Steven McDonald. "Working with chapter management and members this year has been professionally rewarding, and I look forward to my continued association with this great organization." "We will proudly display this plaque in our offices, right alongside our designation as an Accredited Management Organization," commented Robert Klag, Chief Executive Officer of Westlake Realty Group. About 2007's Accredited Management Organization of the Year Award During 2007, Westlake Realty Group made significant contributions to the operations of the San Francisco Bay Area Chapter of IREM. Mr. McDonald served as the chapter's vice president of membership during 2007 and will assume the role of vice president of education in 2008. Westlake has supported the Chapter's education program by providing substantial funding as well as providing the venue for a seminar. In addition, Westlake donated tickets to a San Francisco Giants game, which were auctioned during a Chapter fundraiser.
Westlake Realty Wrote The Book On Rental Property Management
San Mateo, Calif. - January 10, 2007 - Knowing that the mistakes property owners make can cost them tens of thousands of dollars, the experts at Westlake Realty wrote HAPPY ABOUT APARTMENT MANAGEMENT, a resource guide showing how multi-family real estate investment can be successful, if owners have the know how to manage property effectively. Too often, it isn't until owners get into trouble that many real estate investors realize how poorly prepared they are to manage property. They may experience the enormous stress from evictions because they have not developed appropriate credit screening techniques that identify potential dead beats. They may be sued for discrimination because they do not understand fair housing regulations. They fall victim to downward economic spirals because they do not understand the relationship between curb appeal, occupancy rates, and rent. Worst of all, they often don’t realize that their properties are underperforming by thousands of dollars each month. "Investors can successfully win out in property management if they follow the right steps" says Steven M. McDonald, co-author of HAPPY ABOUT APARTMENT MANAGEMENT. The general manager for Westlake Realty Group, Inc.'s residential section, McDonald has managed real estate for over 20 years. "We have always found it illogical that investors pay substantial fees to their stockbrokers yet trust themselves to manage an investment property that is constantly at risk from fire, vandalism, and personal liability lawsuits. Real estate investment can be your path to financial independence if you are willing to give it the attention it requires," says Robert W. Klag, CEO of Westlake. Klag and McDonald wrote this book with their colleagues Gemma G. Lim, Director of Business Development and M. Gary Wong, President, Westlake Development Partners and Westlake Realty Advisors. Hoping that property owners will garner invaluable money-making tips, the book covers:
In addition to tips on credit screening, forms every landlord should have, and improving collections, the book explores whether one should hire a property management firm or not. Also, it addresses Technology and The Future of Property Management, highlighting such areas as Image Technology, GPS Technology, Electronic Banking and Property Owner Oversight. Having saved property owners hundreds of thousands over the years, the authors of HAPPY ABOUT APARTMENT MANAGEMENT hope to inspire new and old investors to save thousands more. ABOUT WESTLAKE REALTY: ABOUT THE AUTHORS: ENDORSEMENTS "HAPPY ABOUT APARTMENT MANAGEMENT is an informative and easy-to-read guide to property management. It is concise and yet comprehensive, touching on every aspect of the business. It will make the task of apartment management all the easier." "This is an easy to read, practical and insightful guide for property owners and managers and those who are planning to get into the business. I strongly recommend it." "This book provides a head start for apartment owners who want to learn from 30 years of experience." "...Any owner/manager of an apartment complex would be wise to follow the advice and wisdom in HAPPY ABOUT APARTMENT MANAGEMENT from these successful real estate professionals." "...HAPPY ABOUT APARTMENT MANAGEMENT is well written and easy to understand. It takes the reader from technology and how it can change aspects of the way in which property managers do their business to the basic 'nuts and bolts' in creating a community with the residence. A great reference guide. "
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