A division of RHP, Newbury Management Services is an integral part of the organization's success, providing complete third party management services, including property assessment, asset preservation and construction management, all supported by concise reporting systems. Newbury addresses the unique challenges that manufactured home communities face, accommodating home sales and marketing in one streamlined process. This often includes the maintenance and regulation of private utility systems, or converting vacant and untitled homes to resident occupied assets.
Once a property is stabilized, Newbury's highly trained staff members are involved in many aspects of the community, including leasing services and daily operations. Newbury employs top level CPAs, information technology and management professionals, with over 58,602 manufactured home units currently under their management.
Asset preservation is accomplished in conjunction with home sales and marketing affiliate Bayshore Home Sales. Bayshore provides and manages search optimization systems that drive traffic, track prospects and offer follow-up reporting and trend analysis. With over 450 home sales per month, this information is invaluable. It allows for proper asset positioning with the marketplace and the production of effective marketing materials, including website, signage, direct mail, and flyers.
Newbury's comprehensive assessment process involves all aspects of the property, from physical condition to financial records. State of the art real estate software systems use the data to provide financial and assessment reports, allowing the client to accurately evaluate the asset's true value. This timely detailed information, including property evaluations and capital needs assessments, is an essential tool utilized by all facets of the organization to preserve assets.
Newbury's experienced professionals provide thorough inspections and cost analysis, as well as develop and oversee plans for property improvements as deemed necessary. This may include: repairing water leaks; the maintenance and operations of private utility systems; and other similar property issues. By maintaining control of this part of the physical assessment process, cost savings can be substantial, therefore lowering total operating expenses.
Likewise, when financial reporting indicates a history of rent delinquencies, top line increases may be achieved through resident rent collection programs which significantly reduce unsettled accounts.
By utilizing its own construction management team, Newbury maintains the highest industry standards in all aspects of the construction process. Timely assessment reports are used to establish a construction budget that preserves the value of the asset. Health and safety related capital improvements are completed to assure full compliance with local and state regulatory codes.