Co-op & Condo Management
Property management is a business of complex challenges, requiring multifaceted solutions that incorporate a multitude of disciplines and services. Orsid’s formula starts with being proactive, rather than reactive. This approach requires persistence, careful attention to detail and excellent communication. At Orsid, we manage for the long term, consistently demonstrating that client satisfaction and client retention are our top priorities.
Orsid is large enough to manage more than 13,000 cooperative and condominium units, yet small enough to ensure that our team members take part in the daily hands-on service of your building. Our client retention rate is proof positive of our successful approach.
Our management services include:
- Comprehensive physical plant management
- Management and supervision of building staff while providing education and training opportunities and seminars
- Complete financial and back-office management
- Assistance in selecting appropriate professional representation and working with those professionals on a daily basis
- Managing the intricacies of compliance with applicable Federal and State statutes as well as New York City Local Laws
- Assistance in carefully negotiating necessary legal undertakings required in residential property management
- Litigation support
- Monitoring energy consumption and evaluating efficiency
- Conducting frequent inspections that result in efficient building operations that are compliant with applicable codes
- Communicating proactively with the Board of Directors and Building Residents
- Preparing for and attending Board and Annual meetings from which action plans are developed and fulfilled.
The Team Approach
At Orsid, we understand the critical importance of assembling a team of individuals best suited to the needs of your building. Dedicated to knowing every detail of your property and its operations, your management team will consist of the following members:
- Executive Supervisor
- Account Executive
- Administrative Assistant
- Transfer Agent
- Alterations Administrator
- Code Compliance Manager
- Accounts Receivable Professional
- Accounts Payable Professional
Carefully chosen by Orsid as the team leader, the Account Executive is responsible for the day-to-day management of your building’s operations. Backed by the collective effort of a committed support team, the Account Executive is able to provide your Board with all of the information needed to make informed decisions. An Executive Supervisor is always available for each Account Executive or Board member to consult with on more complex matters.
Success is in the Details
Your Account Executive visits and inspects your property frequently, as often as every day during a major project. This enables us to better assess your building’s physical plant and maintain optimal operations. From monitoring boiler operations and reviewing routine elevator inspection reports to interacting with your staff, we ensure that your building runs at its best.
At Orsid, an Executive Supervisor is assigned to assist you and your Account Executive, providing advice and guidance based on decades of experience in the NYC residential property management industry. Your Executive Staff team member periodically attends Board meetings as you deem necessary. This additional level of involvement allows Orsid to better serve you.
Among the top professionals in the industry, each of our Account Executives comes to Orsid with proven management skills. On those occasions when the expertise of outside consultants may be required, we assist you in selecting additional team members to accomplish the task. Over the past six decades, we have developed a comprehensive network of attorneys, accountants, architects, and engineers who have demonstrated a track history of success and can deal with all issues facing the residential management industry at very competitive rates.
To ensure the accurate and timely financial reporting essential to successful property management, Orsid utilizes one of the most highly effective reporting systems available. Our offices are equipped with the latest technology that is constantly upgraded to maximize productivity. We assign one of our accounting department professionals to each building, providing superior accountability, faster response to inquiries, and timely and effective reporting.
Your financial information is provided in comprehensive, user-friendly formats to present an accurate picture of your property’s fiscal condition. Detailed monthly financial reports itemize your building's expenditures and revenues, including a ”budget versus actual” report which serves as a guide to annual budget variances and alerts your board to potential fiscal fluctuations.
Every property has its own bank accounts and lock-box system for collections. We guarantee prompt distribution of maintenance, rent and common-charge invoices and carefully monitor budgets throughout the year. We work closely with the board treasurer and your accounting firm in preparing operating budgets and annual financial reports.
Physical Plant Management
Orsid’s success can be defined in many ways. One aspect of our expertise is our ability to successfully manage the building’s facilities and physical plant. While many of our clients have extensive expertise in various professional disciplines such as the legal and financial industries, only a few have actual experience managing mechanical systems and building facilities. Our clients can depend on our decades of experience to ensure that their mechanical systems run efficiently and are properly maintained by qualified professionals.
Our proactive approach allows us to manage not just for the short term but for the long term. We strongly believe that developing a capital plan that can help predict mechanical and facility life span is crucial to a well-constructed management plan. Unexpected failures of critical machinery and building structural elements can wreak havoc on a budget and the quality of life of all residents. While precise prediction of mechanical and physical plant failures may be impossible, a well thought-out capital plan will certainly minimize service interruptions and improve expense forecasting, which will serve to smooth cash flow over the long term.
Communication & Availability
We have learned that an informed board is our best client and are proud of the excellent working relationships we have established with the boards and residents of each Orsid-managed property. Proactive rather than reactive, our Account Executives are in daily contact with your Superintendent/Resident Manager to ensure that issues are addressed swiftly and remedied efficiently.
We guarantee rapid response to any situation. In addition to being trained in established emergency protocols, our managers are equipped with the latest communication devices, making them accessible at all times, should a true emergency arise. The Orsid "team response" system operates 24 hours day, 7 days a week. Always on call, we are there when you need us.
Insurance & Risk Management
One of our goals over the years has been to assemble a host of superior “in-house” talent, which enables us to operate with maximum efficiency while providing the highest quality service to our clients. Through our partnering efforts we have developed an insurance and risk management program with Gotham Risk Management Group, LLC. This venture is led by Eric S. McPhee who has vast knowledge and keen insight into the New York City Cooperative and Condominium markets. As a Licensed Insurance Broker and Licensed General Adjuster, Eric has combined his extensive insurance and risk-management experience with his expertise in real estate management to create an unprecedented understanding of the relationship between these two disciplines. Our ability to deliver this level of service and expertise to our clients is what distinguishes Orsid from its competition.