Property Management
Managing What We Own
By integrating property management, Fitch Irick creates a best-in-class affordable housing platform.
Our wholly-owned property management company handles the day-to-day operations of our communities to ensure success across the extended length of the investment period.
Services
Fitch Irick Property Management is a full-service property management services provider that specializes in multifamily affordable housing properties. We have more than 27 years of experience managing affordable housing communities with multiple layers of programs and funding sources throughout the southeastern United States. We currently manage approximately 300 properties hosting more than 12,000 units. Our third-party property management services are centered around our core values of Team, Optimism, Integrity, Commitment, Accountability and Respect. As a client, you are entrusting your multifamily investment to our management team. Our goal is to focus on profitability, growth and efficiencies.
Our full-service management includes compliance, agency liaison, lease-up specialists, accounting, human resources, and operations management.
Our years of expertise in various federal, state and local affordable housing programs assures each move-in and recertification is fully reviewed and in compliance with programs regulations. Fitch Irick’s robust internal compliance department assures communities are compliant and are fully monitored based on their program(s) involvement. This team also focuses on the management of subsidy programs used throughout the portfolio.
Fitch Irick also offers a dedicated team of agency liaison specialists that manages all agency relationships and assures communication is streamlined with timely and accurate responses to our valued agency partners.
Fitch Irick has extensive background in the leasing of newly developed affordable properties. Our dedicated team of leasing specialists oversees these new properties until 100 percent occupancy is achieved, and the syndicator audit is completed. This team singularly focuses on the preleasing, marketing and initial move-ins to assure units are qualified and pass syndicators’ review.
Fitch Irick’s accounting team assures your asset’s financials are accurate and timely. We do this by leveraging technology to automate reporting and streamline accounting practices and monitor performance metrics.
Our people make the difference, and that is why human capital must be a focus in today’s work environment. Fitch Irick’s human resource team focuses on management of benefits and employee relation programs, while mitigating risk and assuring associates receive training and achieve their learning plans.
Over almost three decades, Fitch Irick has established a wide range of knowledge in the management of lease ups, acquisition and rehabilitation of affordable communities. The operations team has a full understanding of the importance of our clients achieving their syndicator goals and complying with agency and program requirements. Their vast knowledge combined with their service attitude assures your asset and your residents are cared for properly because we take full ownership and accountability for all we do.
Vertical Integration
Expert Partnerships
In areas where it is not financially efficient to manage our own properties, we seek highly qualified third-party property management teams with like minded operational beliefs.
Service Contracts
On a highly selective basis, we provide third-party property management services to owners who can benefit from our practices.
Frequently Asked Questions
Generally, new high quality housing increases property values considering we are housing residents that already live and work in the community. Most of our housing developments complement existing property uses in the neighborhood and in many cases we are redeveloping underutilized parcels or vacant buildings
Many studies suggest that affordable housing doesn’t increase crime but the best way to ensure any real estate asset doesn’t increase crime is through proper management. All of our residents go through credit and criminal background checks prior to signing a lease. We are committed to ensuring our properties enhance communities.
The vast majority of the housing in our portfolio cannot be distinguished from conventional apartment complexes. We invite you to browse through our website and view the types of properties we build, manage, and own.
Our residents are housing cost burdened and earn less than the area median income. Most residents that live in affordable housing are employed, disabled, or retired. We serve individuals, families and seniors whose income for various reasons doesn’t afford them sufficient decent housing options.
Most of the new affordable housing being built today is financed utilizing the Low-Income Housing Tax Credit (LIHTC), which is a public policy program enacted under the Tax Reform Act of 1986. The Low-Income Housing Tax Credit is regulated by Section 42 ofthe Internal Revenue Code and it provides an incentive for private developers to build affordable housing communities
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As we enter our third decade in property management, our team has a wealth of knowledge that it brings to the table to improve property operations and maximize cash flow of the assets GEM manages. If you are looking to acquire an affordable community, GEM can offer full due diligence services including resident file audit, interior unit inspections, exterior inspection, market analysis, personal property inventory, budget projections and financial reviews. We provide our clients with a full reporting packet upon completion to assist you in determining if the asset will meet your investment goals and strategies.
The GEM team is the difference, so contact us today to discuss how we can assist you with your affordable multifamily investment.