CLEVELAND, Sept. 21, 2012 /PRNewswire-iReach/ -- Every day, local apartment communities face the challenge of providing good service and fulfilling homes to their residents. Much of that hard work goes unrecognized. Recently, at the Northeast Ohio Apartment Associations 9th Annual 2012 Key Awards Gala, NOAA honored the top rated communities in Northeast Ohio.
Apollo Property Management, LLC was please to collect awards for each of the communities they manage in northeast Ohio. "This was a day to celebrate the accomplishments and dedication of our staffs associated with these properties. These properties have come a long way, and the success of these communities didn't happen by accident. Many devoted team members did a load of heavy lifting to get them where we are today," said Jason Wasserbauer, the VP and Director of Operations at Apollo Property Management. "We have taken on communities that many buyers overlooked and left for dead. We have made them well respected, healthy, and vibrant communities," said Mr. Wasserbauer.
Cedarwood Village Apartments in Akron, Columbus Park Apartments in Bedford, and Dorchester Village Apartments in Richmond Heights were awarded NOAA Key Awards during the event. The awards were awarded based on the properties overall curb appeal and overall community appeal. Apollo Property Management purchased the three communities as well as many others in the in a receivership sale back in August 2011. Each property was plagued with capital issues as well as extremely poor occupancy. "No one wanted to live there", stated Mr. Wasserbauer. "Landscaping looked horrible, elevators were broken, fitness centers were inoperable, and common areas were beat up. Our crews changed all that. We set some pretty high standards, and our teams rose to the occasion. They should be very proud." said Wasserbauer.
Apollo Property Management took on the operational management of Dorchester Village, Columbus Park, and Cedarwood Village in 2011 and in less than 12 months they drove occupancy from 66% to 95%. Hallways were repainted, carpets were changed, buildings mechanical systems were fixed and upgraded, and landscaping was improved. Tennant screening was also greatly enhanced to improve the demographic make up the communities. Extreme makeovers took place at each community which enhanced the customer experience not only for prospects, but for the existing residents as well.
Apollo's approach to a community take over is all encompassing. This multi-dimensional approach is designed to maximize return on equity. The asset management team serves as the eyes and ears of ownership and institutional investors. The firm enhances value for real estate investments through the successful execution of a custom strategic plan to meet each properties objective. Apollo's on site personnel embrace these plans and compress them into actions.
Once Apollo on boards a new team member, they are groomed to meet the properties objectives. "All the property teams we put together know our goals and almost inherently built to work in synergy toward the property's objectives," said Mr. Wasserbauer. "There are no secrets, no mysteries, and each property staff sees their property's reports. They have the ability to easily measure their progress." said Wasserbauer.
Apollo has begun to turn heads in markets such as Indianapolis, Pittsburgh, Toledo, Cincinnati, and Cleveland. Currently they manage 7500 units and they are growing rapidly. It's apparent that they seemed to have found a recipe for success. The organization has definitely adapted to the times and is doing many things right.
More headline news- September 10, 2012 Amy Riley
For more information on Apollo Property Management, LLC contact:
Media Contact: Jason Wasserbauer Apollo Property Management, LLC, 216-468-0050, firstname.lastname@example.org
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SOURCE Apollo Property Management, LLC