S.W.O.T. ANALYSIS
25273000 00 51892206587490MGMT 1600-001Spring Semester 201523 April 201500MGMT 1600-001Spring Semester 201523 April 201552152555407025Harris, Svitlana Y.Jett, Benjamin G.Rolle, Lamoure A.Tholen, Joy S.00Harris, Svitlana Y.Jett, Benjamin G.Rolle, Lamoure A.Tholen, Joy S.-3333751419860Strengths. Weaknesses. Opportunities. Threats.020000Strengths. Weaknesses. Opportunities. Threats.right5390515B 4000020000B left1670685S.W.O.T. Analysis4000020000S.W.O.T. AnalysisOwner: Joy TholenEst. March 17, 2008 Statement: Desert Sage Properties, Inc. is committed to setting a standard of quality and performance for residents and owners that will encourage cooperation and success for all involved. For over seven years the main goal of Desert Sage Properties, Inc. has been providing affordable, quality rental services, ensuring a safe and comfortable environment with the realization of managing properties transactions. This is not just a declaration of good intentions, it is the spirit which imbued the working atmosphere of the company. Desert Sage Properties always has had a responsible attitude towards the undertaken obligations and has treated each client and every contract with special care. The company is working hard to be helpful to its clients, striving to earn an appreciation and increase the amount of their satisfaction. Desert Sage Properties, Inc. believes that justifying the trust for its service, we deserve the honor to meet our clients again and again by carrying out our mission and confirming the good reputation of the company to do their job conscientiously. Desert Sage Properties, Inc. currently manages rental properties for clients that have one or more homes to rent. They currently collect a ten percent management fee, which is an industry standard. Fees on all rental and deposits collected which gives an average of $82 per property. Currently they are managing 43 properties in the Salt Lake County area. The monthly average income at this time is $3,500.Understanding the management and rental process of these properties includes:Acquiring and retaining rentersCollecting monthly rentPaying the monthly bills on the propertyPaying the property owners and giving month reports Maintenance issues/ property inspectionsRehabilitation of recently vacant units (e.g. paint, cleaning, and maintenance)Desert Sage Properties, Inc. is an S-Cooperation. An S-Cooperation “pays no income tax and may only be used for small businesses. All of the income or losses of the corporation for the year are passed through to the shareholders, who report them on their individual returns. At the end of each year, the corporation files an information return, listing all of its income, expenses, depreciation, etc., and sends each shareholder a notice of his or her share as determined by percentage of stock?ownership.”Desert Sage Properties, Inc. was established in March of 2008, in St. George, Utah. The Principal Broker, Joy Tholen decided when the construction housing market took a downturn, her household income needed to be supplemented in some other way. She had managed rental properties professionally before and found a need in the St. George area. She then gained the education and applied with the State of Utah for the licenses necessary for opening a Real Estate Brokerage. Upon moving back to Salt Lake City in 2010, she was managing 25 properties in St. George, and until recently has continued to have an office in St. George, with a licensed agent working with her. Originally it was not Joy’s plan to grow the brokerage beyond 40 doors. However, the current education she is receiving at Salt Lake Community College has opened new possibilities for the business. She is seeking a business management degree, with an accounting degree and is learning valuable knowledge that has added a new desire for expansion and a larger personal salary. The personal growth gained from this education has helped her to set goals, she has gained experience and understanding of how to better manage her office and the future staff she is planning to attain after implementing this S.W.O.T. analysis. She feels that this is a strong opportunity for the beginning of a new advancement in her career. Why S.W.O.T?Understanding management essentials and the principles behind management we have dissected Desert Sage Properties, Inc. By completing a S.W.O.T. Analysis on this business we as a team can effectively achieve the major course goals of Business Management 1600 which are listed below. While cohesively providing a set of guidelines for Dessert Sage Properties, Inc. to increase their business and make them more marketable in the increase demand for property management. Courses GoalsAcquiring substantive knowledge in the field of their courseCommunicating effectivelyDeveloping quantitative literacyThinking criticallyDeveloping the knowledge and skills to be civically engagedOur specific goals in performing this S.W.O.T. Analysis is to provide Desert Sage Properties with the necessary informational tools to begin their expansion of their business; or more specifically, the areas relating directly to property management in Salt Lake County. Desert Sage has decided to allow us to do this analysis due to many pressing issues. The most important reason though, is that the owner of Desert Sage is seeking to find way in which she can be able to expand her business’s industry presence. Though the company is not particularly sure of the steps they need to take in order to put their business on the map, they are sure of a few things, and that is their goals. As it is our job to prepare Desert Sage for their big change, they assisted in providing us with a set of goals they hope to achieve. As a result of this S.W.O.T. Desert Sage would like to accomplish the following goals:Short Term-3to 6 monthsTo increase Desert Sage Properties internet presence.To open and maintain owner and tenant portals for real time access to property reports and payment of rent. To expand the office, and make use of a part-time office assistant.Medium Term-7 months to 18 monthsExpand by 15 to 25 doorsStrong internet presence, when searched on internet search engines.Real Estate Sales, Multiple Listing Service for Salt Lake CountyLong Term-2 to 3 yearsExpand by 40 to 60 doorsGain full time assistant and part time maintenance crewUltimateTo have a full service Real Estate Brokerage, taking tenants to homeowners.In making the changes that we hope to implement, Desert Sage will surely achieve these and much more. This is our mission; a mission that is just as important to us as it is to them.S.W.O.T. Analysis ResearchEvaluationINTERNALStrengthsWeaknessesClient-centered services. Put client’s interests first.Managing your own rental properties. Nobody cares about your property as much as you do as well as to find and keep good tenants.Basic availability of computerizes records on business and real property taxKnowledge of real estate taxation rulesSolid understanding of condominiums association guidelinesTenant screening background and credit checkLicensed home improvement contractor.Accounting background. Currently attending Salt Lake Community College to obtain a business management degree, and a minor in accounting.Currently on the Governmental Affairs Committee for the Utah Apartment Association. Served for 5 years in this capacity. Flexible and willing to learn and use new technology.Realtors LicensesCost effectiveness. Difficult to hire additional professional property manager. Financial limit to expend the business to produce more revenue.Client-centered services. “Professional” tenants can take advantage and live in the house for low costDistance from landlords, lack of communication. Full-time job. ?The day to day work, no vacations and sick days. Have to stay on track 24/7Leverage private and public social networks, virtual meeting platforms (might be Skype or another Internet resources, tablets that allow to connect and collaborate)Education and training costAffordable marketing toolsConnections with competitive management agencies Lead with revenue and keep expenses lean as possibleNo control over tenants that flee without paymentCurrent cost of credit checks and feesEXTERNALOpportunitiesThreatsIncomes fail to keep up with home pricesEconomic strength of the region that make a good time for relocation businesses from outside of stateCredit capacity allow bank slow to lend Foreclosure during recession damaged credit histories for former homebuyersMillennial’s different view about wealth (don’t want to tight up; they are renting, not buying) Difficulty for homebuyers have getting mortgages for buying homes Students at SLCC in search of homesRent Plus/ fixing credit reportsPersonal assistantFHA loans 3%-3.5% down payments for first time buyer VA loans provide 0% down and no closing cost for veterans and active military family members?Foreclosure during recession damaged credit histories for former homebuyers and potential rentalsShort-lived credit histories (student loans debt) for young familiesSubstantial economic uncertainty in local areaPrices are remaining strong for buyers and sellers investmentBuilders provide more options and opportunities for custom build homes Foreclosures on market are cheaper alternative for fixer-upper buyersLow income housingInterview Questions & ResponsesWhat is the border? How many rental properties you have to own to benefit if you consider to hire a management service or a management company? Please, be specific with numbers. For instance, I own 15 properties and manage additional 30, and most of properties are located not near distance from me, what is the best solution to keep cost low? If your rental property is located far from where you live how you handling hiring a property management company can be invaluable in dealing with the many issues that you will not be able to handle from afar (distance, costs?)How do you market your company? What are most effective advertising techniques your company use to spread the information if there are low or no clients?How do you keep contact with landlords that far away from their properties and having poor communicating habits?What kind vendors do you hire? Do you hire big company service or general contractors that are licensed individuals who work on major and minor construction projects on your property? How reduced rate and keep low cost in this sector?Interview 1 by Svitlana HarrisLiz Braun Coldwell Banker Residential Brokerage2180 S 1300 E St 140Salt Lake City Utah 84106(801) 232-2796The number of properties that a manager would have to service in order to profit and maintain correctly would depend on several factors. Such as number of hours a week the manager worked, income per unit, if there was an assistant, condition of the units and locations of the units. Working plan would be needed to organize task and routine maintenance, inspections and other expected items. Also a budget break down would be helpful or perhaps a weekly or monthly spread sheet for receipts and hours. This would give you a better idea as to where the money and your time are spent. For a day off you could hire a person to fill in for you on a scheduled basis. With today’s market being many young computer savvy people online and social media marketing have been the best form of low or no cost marketing.Here is affordable web designer on (Devendra Sharma, he is from India, very professional)I would suggest a contact management system that would email your clients regularly and remind you that you need to perform tasks such as calling your clients monthly or weekly.Vendors build a list of companies that can do the big projects and emergency issues well and at a cost effective rate as well as a list of handyman that do the small and routine maintenance. Perhaps if you are managing several medium to large complexes you could consider hiring someone for each complex on a part time basis. Regular maintenance is really the key to keeping the cost down.Interview 2by Joy TholenLinda WillisAssociate BrokerCDA Properties8813 Redwood Road #D1West Jordan, UT 84088(801) 268-4134One full time agent can handle about 80 to 85 properties efficiently. Multiple unit owners often ask for a discount. This works ok as the paperwork part is fairly easy as reports are generally combined, don’t lower you commission more that 8% in these instances as the maintenance and rental are still intensive and have to be completed and inspections need to be done regularly. For effective property management a manager should live no farther than 30 miles from a property. As travel time should be considered into the management cost. This should be taken into account by an owner for himself as well. The best techniques for marketing our company is social media, internet advertising, utilizing adequate SEO’s. Another thing is to make sure you connect your company and agents with other Real Estate professionals, and professional associations. We have also started offering ways for our tenants to get into a home, buy offering the services of mortgage providers and then an agent to help them look for a home that they can afford. Real Estate Sales have boosted our income to our brokerage and agents. Email and texts are great ways to communicate with an owner, however, if texting take pictures of those texts and keep in a file for future reference. Another good way is to have accounting software set up to send regular messages to the owner to request repairs. If an owner is really bad about communication to cover yourself for emergency repairs have a clause in your contract giving you authorization for repairs to be made and you may want to include a dollar amount that doesn’t require prior owner authorization.When it comes to vendors we have a couple of good handymen at our disposal. For high impact or liability exposure we use licensed contractors, i.e. Plumbers, electricians and HVAC. One way we have found to reduce costs for our owners is we will look for deals through Angie’s list if we have a specific item that needs repair and a special offer is being provided. We have also found some service provider loyalty by using the same vendors over. We also will set up something like furnace services for a set price with the HVAC provider. The same with sprinkler start-up and landscaping. Stressed how important a good online presence is. Using software that gives your tenants easy access to pay their rents and also for owners to access what is going on with their properties. Advertising on Zillow, as well as craigslist, ksl, rentler, find ways to get on Angie’s list.Interview 3 by Lamoure RolleShawn SaundersOwner, ManagerGreen Natures Ltd.2387 W 68th St.3303 Hialeah, FL 33016(305) 495-3726As Green Nature Company is new to the property management business, they may not pose a particular great a threat as other larger businesses for specific reasons.Though Green Nature company is located in Utah, and isn’t a pressing competition problem for Desert Sage, they can look at this company and either learn from its successes, or its failures.This business I interviewed unlike the one we’re analyzing has their own management team in place for special areas such as accounting, utilities, and maintenance of property buildings and yard.Unlike Desert Sage, Green Nature company builds their own owns and then sells them or rents them. Desert Sage on the other hand manages buildings that have already been built. With this difference in business techniques, Green Nature merely manages 5 properties, while Desert Sage manages a total of 78 properties. Green Nature believes that the best way to reduce cost if properties are not near you is by trying to reduce the amount of staff on the project. “More for Less.” In reducing staff they can resort to assigning one person more than one property to managing. They can also resort to hire one specific licensed individual (dependent on the task) and give them the responsibility of hiring persons to work under them for way less than hiring multiple persons.Green Nature chooses to market its company by means of billboard signs and other posters. They do not go the extent of mass media market because it has not been needed for them as yet at this point in their business. But if it was to be needed they would consider websites, and real-estate companies.Ms. Saunders said that she would personally go and visit with her tenants every 2-3 months as it was her personally responsibility. But since her properties are not near to her she usually communicates via phone and email. These characteristics are similar to that of Joy’s from Desert Sage but Joy tends to visit her tenants a lot more frequently as needed by them.Interview 4 by Benjamin JettGracia AyalaCommunity ManagerBrighton Place ApartmentsWasatch Premier Communities135 W. Plumtree LaneMidvale, UT 84047(801) 225-7121Ms. Ayala currently manages 430 units for Brighton Place. The Wasatch Company has 4000 plus units just in the Salt Lake City Area and has several other properties in up to five states. Each property has its own Property Manager which reports to a regional manager allowing the owners to focus on their ability to continue expanding the company.With Wasatch Properties each property manager is required to live with in fifteen minutes of the property they currently manage. Also all the properties’ has an on call maintenance personnel for the late night and Sunday emergencies. The on call personnel are paid for travel and time on the job to elevate the renters paying out of pocket for professionals to be called out.The most effective way that Wasatch markets itself is via the web. With basic tours of the properties and floor plans right at your fingertips to allows potential clients to have a base idea of what the personnel tour will be like. The company also uses mailers and radio ads. With a company this size their marketing has really no budget. Also they utilizes their current residence by offer discounts on rent if they refer a new renter and they move in. Each property manager communicates weekly with regional managers. Then the report to the owners weekly as well. Once a month the owners tour the facilities of each property determining major projects or over halls that can make the properties better for the residences. All major repairs such as painting, changing out toilets, faucets, and lighting are done by the maintenance crew. All members of the maintenance team are certified in several areas and continues training via online courses. If major projects such as flooring and carpet care they have a standard contractor for these projects. Also major contractors for ac units or furnaces. Also have the residence notifying the office of problems when they occur prevents major damages not to one unit but multiple units. S.W.O.T. Analysis ReportAfter careful evaluation and in-depth research to determine the next step for Desert Sage Properties Inc., we have been presented with the following questions:What are the most important elements of the company’s strengths and weaknesses?Why are these most important elements? What do they contribute to the company?How are important elements connected?How can important elements be further connected to create opportunities? How might we put steps in place to achieve these opportunities?What steps can be taken to limit the impact of threats?What do we expect from Desert Sage Properties if they were to implement our recommendations?SECTION I - Important Elements and SynergiesIn this part of the analysis we will show how our most important elements from S.W.O.T. Evaluation can be connected to each other, and how it can benefit Desert Sage Properties Inc. Understanding the connections between elements on our table, our team can now logically demonstrate how these element work together to produce synergies.293243023304500Currently attending SLCC to acquire a Business degree –StrengthAttain more knowledge of the business environment.Education and training costs-WeaknessWith a business degree she can do most of her own training and save on costWith the use of her current and future education, the owner of Desert Sage Properties Inc. can apply her knowledge of the business environment to train new employees on her own. For the most part, she knows everything her business and its goals. Doing her own training will save money, and it will also be done more efficiently as she knows everything her employees need to know. Once she has taught them the basics of the business, they can move forward performing the special skills that they were hired to.26631904191000Accounting background-StrengthKnowledge of budget creationsLead with revenue and keep expenses lean –WeaknessAccounting background enables her to determine how she spend more to gain more.The owner of Desert Sage Properties has an accounting background. She can use her knowledge of budgets to review revenue and expenses and understand the places monies should be spent to produce more revenue. Every great business knows that you must first spend money to make money. But, when to spend money, and to be able to realize what is too much or where to cut back expenses is necessary for the business to grow successfully. 29679906921500SLCC students in search of homes –OpportunityLooking for the cheapest placeLow incoming housing-ThreatCheap but not always in good conditionUsing the connections that Joy is making at SLCC is an opportunity for Desert Sage Properties. Students are looking for places to live that are inexpensive, clean and in good condition. The opportunity to help students to find this kind of housing, without turning to low income housing, can build the company’s exposure in the rental market and also in the future home purchasing market. 31629358064500Affordable marketing tools – WeaknessAdvertisement by flyers and other forms of physically communication rather than by media.Economy - ThreatNew newspapers come out every day.Personal canvassing is an affordable alternative to more expensive advertising methods like newspapers and magazines. Since newspapers and magazines offer a short cycle of advertising the use of these tools can be financially taxing. Strategically located flyers in high foot traffic areas (colleges, universities) will also give a wide variety of leads and opportunities for the future. 27870158445500Willingness to use internet and technology - StrengthBe innovativeAvailability of the internet presence - OpportunityHaving internet presence increasing innovation and potential.A willingness to use internet and technology is essential strength of the company that can significantly improve the business performance. Today the Internet is considered the most effective marketing tool. In order to maximize returns, Desert Sage Properties can implement an advertising website to lease production and attract new tenants. The internet is also convenient to get information about vacancies, price ranges, special offers, etc. to increase the number of perspective tenants. Additionally, it gives the opportunity to compete with other leasing competitors and protect the stability of the company.273304063500Licensed home improvement contractor – Strength Save time that would be spent looking for an outside contractor.Economy – ThreatServices are improving just as fast as the economy is changing.One of the major strengths of Desert Sage Properties is its access to a licensed home improvement contractor. This then can bound to substantial economic uncertainty of today allowing the company can take advantage and provide economically efficient services regarding the retaining of properties. This strength also gives the company the ability to be proactive in maintenance schedule, and responsive with repairs. Thus providing for reduced costs and sufficient time between former tenants move-out and new tenants move-in. 26568409017000Marketable - WeaknessMarketable - OpportunityMaking Desert Sage Properties more marketable by use the internet, mailers, referrals, and Angie’s List, revenues can increase. Having an office assistant to answer phones, make appointments, keep website, blogs and office work up to date, can maintain an air of business efficiency. As the number of properties increase, bringing on another licensed property manager under Desert Sage Properties, the owner can start to distribute the responsibilities to others thus making Desert Sage more marketable. 296989522987000Difficulty for homebuyers have getting mortgages for buying homes - OpportunityThe less persons that are able to get mortgages the more that are willing to rent, especially those that move frequently.Loans - ThreatFHA loans 3%-3.5% down payments for first time buyersVA loans provide 0% down and no close cost for active duty military membersHaving a knowledge base of military families and knowing that they move predominately every four years and they live in rental properties Desert Sage Properties can tap into a major resource. Military members are compensated for their rent or mortgage. A majority of military members upon their last transfer tend to stay and buy homes in the area of their last duty station. This not only increases revenue but can increase client referrals for a property manager as well as a realtor. Personnel Assistant – Opportunity29698952921000As the business grows, one will become affordable and necessary.Full-time job - WeaknessCost effectiveness. Difficult to hire additional professional property managerWith the potential of the business growing a personal office assistant is required. By hiring an assistant a full-time job can turn into a manageable eight to nine hour day. Personal assistants can make for a more smooth and efficient work environment. If everything is getting done when it should be done, and to the best of the businesses ability, revenues will in turn flow through the roof. With that, a personal assistant, along with any other addition to the work force, will eventually pay for themselves while still producing profits.Due to the presence of the various synergies we have found and connected, we conclude that Desert Sage Properties Inc. has more than enough potential to move up in its industry. With the right recommendations they will be able to turn their strengths and weaknesses into opportunities, and in turn limit the impact of threats to their success.SECTION II – Recommendations and ExpectationsWith this S.W.O.T. analysis we have identified the challenges that Desert Sage Properties, Inc. has been facing in today’s rental management market. These problems are caused by having progressive and destructive internal factors, as well as having external threats and opportunities for the company. When we discussed the recommendations we utilized the leverage the company has in their strengths and opportunities to lay out a strategic timeline. Though there are major weaknesses and threats that affect the business we have mapped out a strategic plan and budget to combat them. The business environment is a continuous changing cycle. By having this S.W.O.T. Desert Sage Properties, Inc. can revisit this analysis for immediate recommendations and opportunities giving them a management tool at their fingertips at any time during the growth of the business.According to S.W.O.T., our team identified the main strategic directions for Desert Sage Properties, Inc. that would maximize the growth and success of the business. The competitiveness of the company is determined by its economic efficiency indicators. This S.W.O.T. analysis revealed the following trends in the major economic indicators which increase in the following areas; the volume of transactions, net income, and profitability.Three enclosures have been attached to the recommendations. Enclosure 1 is a budget that the team deemed necessary for Desert Sage Properties, Inc. This budget is a breakdown of the cost analysis needed to start making them more marketable. By improving marketing activities it will enhance the competitiveness of the company, and as a consequence lead to improved economic performance. Utilizing modern technology they can minimize costs. Enclosure 2 is a detailed timeline breaking down Desert Sage short term goals discussed in “Why S.W.O.T.?” This timeline makes the company accountable for keeping on track to reach the attainable and realistic goals that have been set for the company. By taking this course of action the company can leverage the unique characteristics of the business and the power to maximize the chance of success. Enclosure 3 is a detailed analysis of the potential cash inflow shown during the three different time frames. From short to long we demonstrated to Desert Sage has the potential to triple their income. By aligning strengths with available resources and timing opportunities they can diversify themselves from other small property management businesses. All three enclosures used in conjunction with the S.W.O.T. could be used as valuable tools if needed to present to banks or other potential investors. With this clear proposal, knowledge becomes power. With this S.W.O.T. analysis Desert Sage Properties, Inc. can fully understand where the company stands against competitors. Using this also sheds light on the state of the business, allowing them to position the business, emphasizing the plusses and minimizing the negatives. If Desert Sage Properties Inc. considers this analysis and follows our recommendations, we expect that it will be well on its way to making an increased presence in the property management industry.Enclosure 1 – Proposed Budget for S.W.O.T. Analysis for Desert Sage Properties, Inc.Item Amount Needed Actual Amount SpentExplanation of ExpenseName & # of ContactCompletion DateOffice Assistant $ 1,150.50 Office assistant to help with social media. 5 hours weekly. Includes labor taxes and insurances. Cost for quarterAlltrades Staffing 801-313-1234Website Improvement $ 1,100.00 To add to existing website, improve SEO (search engine optimization); add additional portals for tenants and owners. Add additional links to social media and blog. This is an upfront cost with a minimal cost monthly for regular SEO updatingDennis Martin 818-357-7830 Accounting Package Improvements $ 350.00 Expansion for the owner and tenant portals, labor to Hard Printing Costs x 2 $ 4,000.00 Printing to produce and mail out flyers to owners of rental properties. Approx 1500 mailings, if this produces results will do again within the quarter.Sunrise Press 801-984-5555Salt Lake Board of Realtors $ 1,500.00 Join Salt Lake Board of Realtors, to increase monthly commissions by selling and helping tenants to purchase homes.Salt Lake Board of Realtors 801-542-8840Website Improvement $ 1,000.00 To improve website after joining the Salt Lake Board of Realtors. Increasing SEO's, additional links to the SLBOR website and additional social media and blog expansion.Dennis Martin 818-357-7830 Total $ 9,100.50 Enclosure 2 – Timeline Review for S.W.O.T. Analysis for Desert Sage Properties, Inc. DateObjection Payments to be made Actual Payments madeProcessTime Budgeted for completion of ObjectiveProjected date of completionActual Date CompletedResults4/27/2015Increase internet presence $ 500.00 Contact Dennis Martin, pay down payment for him to begin his process of increasing internet presence.Dennis will take about 3 weeks. He will make necessary changes to current website by editing content and setting up additional email and contact accounts. He will also set up other social media accounts. 5/18/20154/27/2015Open owner and tenant portals $ 350.00 Fill out necessary paperwork from Buildium in preparation of online payment. Prepare all current properties for owner and tenant portals to be opened. While waiting for approval from Buildium for the tenant online payments, owner and tenant testing can occur. 2 weeks. 5/11/20155/12/2015Owner portals utilizedPost to owner portals all paperwork for the month. Giving owners the opportunity to use the new system and contact DSP with questions and additional instruction.1 to 3 months8/12/20155/18/2015Training of the use of the new internet resources $ 600.00 Receive in house training regarding use of the website and other items set up by Dennis Martin. This is so that pages can be added and edited per the daily, weekly or monthly needs of the company. By being done in-house it saves money and time. 1 week, intermittently with Dennis Martin5/25/20154/30/2015Upgrading property information onto BuildiumInsert pictures, ads, and information for individual properties onto the Buildium website1 week to 10 days5/11/20154/30/2015Preparing office for running of new website and efficiencyOrganizing individual property files to work in coordination of upgrading of property information above1 week to 10 days5/11/20155/25/2015Full implementation of online payments of tenant rent. Approval of Buildium and notifying tenants that this new process is available2 days to 2 months6/10/20156/27/2015Review of short term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 day6/28/20156/29/2015Monthly SEO and advertising adjustments. $ 154.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence.1 week7/7/20157/27/2015Review of short term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 day7/28/20157/29/2015Monthly SEO and advertising adjustments $ 154.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence.1 week8/7/20158/1/2015Employ a part-time assistant. Train said assistant. 5.5 hours a week. Monthly cost. $ 387.50 Employ and train new office assistant in the use social media sites and updating website for advertising.2 to 3 weeks8/21/20158/28/2015Review of short term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 day8/29/20158/31/2015Monthly SEO and advertising adjustments. $ 200.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence.1 week9/7/20159/28/2015Review of short term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 day9/29/20159/29/2015Monthly SEO and advertising adjustments. $ 200.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence.1 week10/7/201510/1/2015Prepare for the printing of flyers. $ 300.00 Arrange with Sunrise Press for the printing and mailing of flyers. Pay down payment. 3 to 4 weeks to final mailing10/31/201510/28/2015Review of short term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 day10/29/201510/29/2015Monthly SEO and advertising adjustments. $ 200.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence.1 week11/7/201511/1/2015Mailing of printed flyers $ 1,700.00 Mailing of flyers, balance for flyers due. 11/1/201511/1/2015Increase in rental property managementShould have an increase in doors by 3 to 5 doors11/1/201511/28/2015Review of new short term and medium term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 day11/29/201511/29/2015Monthly SEO and advertising adjustments. $ 200.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence.1 week11/7/201512/28/2015Review of new short term and medium term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 day12/29/201512/29/2015Monthly SEO and advertising adjustments. $ 200.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence. If necessary make financial adjustments to prepare for next year’s budget. 1 week1/7/20161/1/2016Office should be running smoothly. Make any necessary adjustments to accounting program and office routines $ 200.00 Review finances with CPA in preparation of new tax year.1 week1/7/2016To be done monthly Review of new short term and medium term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 dayTo be done monthly Monthly SEO and advertising adjustments. $ 200.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence. If necessary make financial adjustments to prepare for next year’s budget. 1 week5/1/2016Prepare for the printing of flyers. $ 300.00 Arrange with Sunrise Press for the printing and mailing of flyers. Pay down payment. 3 to 4 weeks to final mailing5/31/20165/31/2016Mailing of printed flyers $ 1,700.00 Mailing of flyers, balance for flyers due. 5/31/20166/1/2016Increase in rental property management should be seen at this point with an increase by 15 doors $ 1,500.00 Re-evaluate S.W.O.T. analysis. Adjust where needed. May want to re-evaluate the MLS service and begin to do home sales at this time, expanding management exposure as well as an increase revenues. 1 week6/7/2016To be done monthly Review of new short term and medium term goalsReview of short-term goals, in preparation of meeting with Dennis Martin1 dayTo be done monthly Monthly SEO and advertising adjustments. $ 200.00 Work with Dennis Martin in making changes to the SEO and advertising. To adjust for stronger online presence. If necessary make financial adjustments to prepare for next year’s budget. 1 week8/1/2016Expansion of part-time assistant’s hours to 15 to 20 hours a week. Monthly expense $ 1,400.00 Evaluation of the expense of increasing office assistants hours to 5/1/2017Should have expanded to additional 40 doors.Review progress of S.W.O.T. analysis. Decide where to make additional expenditures to increase exposure to increase property management business.Enclosure 3 – Projected Income and Expenses to Implement S.W.O.T. Analysis for Desert Sage Properties, Inc. ItemInitial Investment Needed to Implement S.W.O.T. Short Term Goal-Three to Six Months-3 to 5 doorsInitial Investment to Implement Medium Term GoalMedium Term Goal-Seven to Eighteen Months-15 to 25 doorsInitial Investment to Implement Long Term GoalLong Term Goal-Two to Three Years40 to 60 doorsInitial Investment to Implement Full Service Brokerage GoalFull Service BrokerageMonthly Income to date $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 Projected Monthly Income Increase $ 410.00 $ 1,640.00 $ 2,870.00 $ 2,870.00 Projected Commissions Increase with Sales Included into Brokerage-Monthly Average $ 5,000.00 Projected Monthly Office Assistant Expense $ (387.50) $ (767.00) $ (1,534.00) $(1,534.00) Projected Website Improvement/Maintenance-Initial Investment $ (1,100.00) $ (1,000.00) Projected Monthly Maintenance for Web Site and SEO $ (150.00) $ (200.00) $ (200.00) $ (200.00) Projected Accounting Package Improvements-One Time Fee $ (350.00) $ - $ - $ (350.00) Hard Print Mailings $ - $ (2,000.00) $ (2,000.00) Joining Real Estate Association-MLS for Real Estate Sales $ (1,500.00)Total Initial Investment/Projected Monthly Increases, as S.W.O.T. Analysis Progresses $ (1,450.00) $ 3,372.50 $ (2,000.00) $ 4,173.00 $ (2,000.00) $ 4,636.00 $ (2,500.00) $ 9,286.00 ................
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