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Martha Moyer
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It’s Extreme Makeover…The Apartment Community Edition
How Investors Turn Profits in the Multifamily Industry

Scottsdale, Ariz. (January 8, 2006) -- It’s an attractive proposition, even with margins that can be relatively thin. But handled correctly, adding apartment communities to your portfolio can generate returns of up to 10 percent when conditions are ripe -- like they are today. In fact, the market hasn’t performed this well for the apartment industry since the mid-‘90s, which experts attribute to basic supply and demand. But the game goes far beyond buying and selling properties – what happens in between is critical. Apartment management companies stand armed and ready, “extreme makeover style,” poised to deliver an arsenal of techniques with one goal in mind – to reposition the property for maximum revenues and returns.

Mark-Taylor Residential, based in Scottsdale, is well-known in the Valley for developing and managing “A” properties. In the past few years, the company’s focus has shifted, and now the Mark-Taylor team is
considered one of the best in the country when it comes to performing makeovers on takeovers on behalf of apartment community owners. The company even branded its takeover approach under the tagline, “Make It Mark-Taylor.” It‘s a deliberate, specific and highly detailed process designed to give owners every opportunity to profit. This new business model has changed the company’s make-up dramatically. In the late ‘90s, Mark-Taylor owned and operated 90 percent of its communities. Today, 90 percent of its properties are owned by private entities.Much like a homeowner looking to flip a house, apartment owners review a series of financials and market conditions. Mark-Taylor’s process starts in a similar way -- checking the books.

“When an owner or adviser approaches us about managing a property, the first step is to review the market and prepare budgets to showcase how it could perform under Mark-Taylor’s management umbrella,” says Dale Phillips, president of Mark-Taylor Residential. “Once a client decides to move forward, they will see an immediate difference — that’s when the ‘extreme makeover’ kicks in.”

The day a property becomes a Mark-Taylor community, no time is wasted. An army of professionals “invades,” taking immediate action. The Mark-Taylor team literally combs every square inch of the property. They’ll repaint, re-carpet, trim every bush, fix every faucet, and essentially reposition the property to “Make it Mark-Taylor.” All of this happens in 24-to-48 hours, just like on the TV show. Mark-Taylor takes these vital measures to capture dollars not available to the previous owner, because it simply didn’t meet the Mark-Taylor standards of excellence. Everything shines under the Mark-Taylor name, and owners start seeing higher rents and returns as a result. Residents see an immediate difference in their lives and lifestyles as well. Under the Mark-Taylor brand, they’re able to make online rent payments and service requests, can request wake-up calls or even book tee times in some cases. Organized community events, manicured lawns, state-of-the-art gyms, sparkling pools and Jacuzzis and most importantly, thoughtful and highly personal customer service are just some of the special touches that set Mark-Taylor apart. The net result for owners is a healthier bottom line. Higher levels of service and superior product merit higher rents -- and higher returns when it’s time to sell.

Owners also have 24-hour access to online financial reports and receive constant feedback on how their investment is performing, thanks to Mark-Taylor’s asset management team. Owners who bring properties to Mark-Taylor also benefit by being part of an established brand that is aggressively and consistently marketed to potential renters. The sales and training programs are sophisticated and leading edge, giving owners peace of mind knowing that their properties are being led by highly trained professionals who will be in place for a long time. Mark-Taylor enjoys extremely low employee turnover due to thoughtful succession plans and mentoring programs.Mark-Taylor Residential is one of the state’s largest developers and
managers of apartment communities. The award-winning company currently owns and/or manages approximately 6,000 units in the Valley of the Sun. More information is available at www.mark-taylor.com.