Karl Hendler Properties was originally established for the exclusive purpose of investing in the Tarrytown and the West Campus areas. As owners, we were extremely unhappy and frustrated with the property management firms and the real estate companies that we encountered. Consequently, we decided to manage our own units. Our dedication and personal attention to our tenants soon gained the attention of other owners - Individuals who knew that we would manage their properties like our own.
Residential properties in the immediate UT area are unique in that they are constantly re-occupied. As a result they require management that is quick on its feet, consistent, and conscientious. Our units always maintain a fresh, clean, first-class appearance. Through continual monitoring of each of our properties, we are able to anticipate when a renovation is needed. Our experienced maintenance staff quickly takes care of any repairs.
In addition to single family houses in Austin’s Tarrytown, Central and West areas, we currently own or manage units at: the Croix Condominiums, Landmark Square Condominiums, Nueces Place Condominiums, Orange Tree Condominiums, Preservation Square Condominiums, 2408 Enfield Condominiums, Greenwood Towers Condominiums, the Terraces Condominiums and the Woodcliff. Condominiums.
We offer the following for your consideration:
· We have our own maintenance staff that allows us to keep repair and maintenance costs to a minimum while delivering the highest quality of workmanship.
· Our fee schedule is very simple; it depends on the actual condition of the property and the amount of upkeep that the prospective property necessitates. We charge between five to eight percent of the total monthly income for any individual unit orany apartmentcomplex and between$13 to $25 per unit per month for a Home Owner Association.In addition, we charge fifty percent of one month's rent for any unit that is leased in-house and sixty percent of one month's rent if an outside agency was used. Finally we charge twenty percent for any lease that is renewed.
· From 1983 to 1989 when the complex was sold, we were responsible for the complete physical and financial rehabilitation of the Lantana Apartments. When implementing a badly needed water-descaling project, we fashioned private showers for the tenants during that period. We also helped design a central air conditioning and electrical metering conversion for the entire building. Physically, the complex was greatly improved and it experienced vastly enhanced monthly rental receipts and 100% occupancy. This had not been the case in the last ten years.
· From 1989 to 1990, when it was sold, we concentrated our energies on the Buckingham Square Apartments. We attracted a new clientele with a combination of aggressive marketing and achieved 100% occupancy as well as increased the monthly income by $2,900 a month.
· In 1990 we began working with the Penthouse Apartments, a complex that was nearly abandoned with monthly receipts of about $12,000. We drew up and executed renovation plans for all 50 units, including a security system and security gates for the four-building complex. At the time of its sale in 1995, we raised its monthly receipts to $31,000 and brought its occupancy to 100%.
· From 1992 to 1993 when the Homeowners Association was taken over by the majority owner, we were in the process of a complete financial overhaul of the Mauna Kai Condominiums. The management of the HOA was extremely polarized and with virtually no accounting for any of its financial activities. In 1992 we have attracted a new clientele and increased the rental income by almost $100 a month for each of the units we managed.
· From 1994 to 1998 we worked attentively with five apartment complexes: Greenwood Square Apartments, Millbeck Square Apartments, Sequoia Apartments, Three Villas and Westwood Place Apartments. In each case we brought the complexes from low occupancy and physical neglect to 100% occupancy and with higher monthly revenues anywhere from $500 to $2,000.
· Since 1988, our company has managed the Preservation Square Condominiums Homeowners Association. We have being doing the following:
- Establish and maintain accurate accounting and homeowners records. (Since it was built, the complex had been miss-managed by a local real estate company)
- Repair and maintain the pool and the SPA. We installed a pool gazebo with a security entrance.
- Re-vamped the entire exterior lighting system.
- Re-vamped the sprinkler system, re-landscape the grounds, repair the parking areas, designed a better parking arrangement and designed and constructed an intricate drain system.
- Returned a unique and luxurious condominium project to its former status as being one of West Campus' premiere residential properties.
. From 1986 to 1999, our company managed Marshall Place Apartments. Through innovative spending and extreme dedication we accomplished the following tasks:
- Established and maintained accurate books, ledgers and accounting records. (Prior management was by an individual, resident manager. There were virtually no paper work, maintenance or tenants records.)
- Repaired and maintained the entire structure, even though the complex is very old and had a lot of impending major repairs.
- Returned the complex to its original charm, without major capital expenditures, as being one of West Campus' premiere residential properties.
· From 1988 to 2000, our company managed the Kenray Condominiums Homeowners Association, and we handled the majority of their owners comprised of Terrace Properties, Kenray Operations Partnership and three individual owners. Renovation projects began promptly to update the complex both functionally and visually. The color schemes were updated both outside and inside using cutting edge computer graphics to determine the color mixes. Other major projects included a new roof, parking lot redesign and a complete pipe de-scaling. The results were very impressive! Monthly rents were increased an additional $100 - $200 per unit.
On August 11, 2001, two and a half weeks before UT classesOn November 1, 2005, we took over the management of the Westcliff Condominiums. We were in charge of the complete transition from a limited partnership to the full creation of an HOA and the appointment of a brand new Board of Directors. began, our company assumed management of Park Avenue PlaceApartments. At that time, the complex was over 70% vacant. Within two weeks, we had brokered 73% of the units in the complex; the property is now 100% occupied. A majority of the residing tenants did not have leases for their units. Our company established leases for those tenants and the new tenants as well. Renovations to the complex began immediately including air conditioning duct and leak repair, repair of outside entrance gates, installation of new water heater and repair of existing water heaters and installation of new refrigerators. The individual units were also cleaned and painted. A computer accounting system for the property was also established. All tenant records and payments had previously been done by hand. The turn-around for this property was dramatic.
From December 16, 2001 to January 1, 2003, our company assumed the management of The Terraces Condominiums. We implemented a thorough tracking system for every repair, expenditure and member of the Association. We designed a site and CAD system of the property, installed an exterior bulletin board, re-vamped the mailboxes, established a monthly pest control service, conducted an entire financial audit (we found over $20,000 in un-accounted expenses) for the previous three years, were in charge of the entire re-roofing of the complex and provided Directors and Officers insurance
On November 1, 2005, we took over the management of the Westcliff Condominiums. We were in charge of the complete transition from a limited partnership to the full creation of an HOA and the appointment of a brand new Board of Directors.
On October 2008, we were approached to take over the management of the Landmark Square Condominiums. We were in charge of the implementation of our accounting software as well as the renovations for this charming Mediterranean style condominiums located in the heart of West Campus.
