Conventional multifamily

Multifamily property management in Arizona

Stellar operates conventional multifamily, build-to-rent and ground-up lease-up for owners and developers. Arizona-based and expanding selectively.

Conventional multifamily

Class A, boutique and value-add apartments, from small infill properties to large garden communities. A smaller asset gets the same reporting and the same senior attention as a large one, which is the reason owners of both keep hiring us.

Two managers can quote the same fee and cost an owner very different amounts, because the fee is rarely where the money goes. Here is how Stellar is set up, in the terms an owner can hold us to.

We measure what works.

We track pricing decisions, marketing sources, concessions, vendors, staffing and resident programs. If something performs, we keep it. If it doesn’t, we change it or cut it.

We build the property’s brand, not ours.

The property keeps its own name, identity and reputation in the market. We are there to run the operation, not put our logo on the building. If the asset sells, the brand goes with it.

Take the services you need

Management, marketing and leasing, acquisition support, construction and repositioning, asset management. They are priced separately because owners are not identical. An owner with a capable in-house construction group should not be paying us for one.

Growth is limited on purpose

Stellar takes on new assignments at a pace the senior team can absorb, so the people who won the business are the people still running the property a year later. Growth that outruns the bench shows up in the operation before it shows up in the reporting.

Services

Five services, priced separately

Take the ones that fill a gap and leave the rest.

01

Property management

Day-to-day operations for multifamily and build-to-rent communities: staffing, leasing, renewals, collections, maintenance, vendor management, and the monthly financial package.

02

Marketing and leasing

Pricing and revenue strategy, listings, traffic sourcing and lease-up campaigns, run under the property’s brand. Creative and campaign work goes to an outside firm with a track record in that property type, selected on its proposal and contracted directly. Stellar adds no markup to what the firm charges, and the property gets a specialist instead of whoever is on the payroll.

03

Acquisition support

Operating assumptions for underwriting, market and submarket rent analysis, staffing and payroll models, and a renovation scope with the rent premium it should return.

04

Construction and repositioning

Scope, bid, and construction management for unit renovations, amenity work, and deferred maintenance, sequenced so the schedule does not fight the leasing calendar.

05

Asset management

Budgeting, monthly and quarterly reporting to ownership and lenders, capital planning, and the operating work that comes with a sale or a refinance.

Portfolio

Conventional communities under management

12 communities, 1,598 units, in Avondale, Gilbert, Glendale, Mesa, Phoenix, Prescott.