In this issue:
- Team Member Spotlight
- Two-Factor Authentication
- Property Updates
TEAM MEMBER SPOTLIGHT
They say it takes a village to do something impactful and this business is no different. In this business your partners and team are critical. In this month’s newsletter, we’d like to highlight team member, Nick Kreuter, who has helped us across the construction finish line for 1955 Locust Ave.
CSQ: Tell us a bit about your background and how you ended up with WestStar Property Mgmt?
Nick: My first job was in the oil industry working in the field. I did everything from A-Z and learned a lot. Eventually I went into the restaurant business as an Operations Manager for a friend’s portfolio of four restaurants. After doing that for I started working with WestStar last year as Director of Maintenance. I’m probably 60% in the field and 40% in the office but I wish I could be in the field more. I’m a big believer that you need to lead from the front in this industry – don’t ever have someone do something you wouldn’t do yourself.
CSQ: So you’re new to WestStar?
Nick: New to WestStar, but not new to construction. I’ve done everything from putting rods down oil shafts to changing toilets.
CSQ: What is your favourite part of Prop. Mgmt? What is the most difficult?
Nick: The pace is my favorite part because you never know what your day is going to consist of. The most challenging part is dealing with misinformation about rent control. They [Tenants] have been told something from an attorney or social media that is simply not true. It creates a lot of confusion and has gotten worse since AB1482 [Tenant Protection Act of 2019] passed last year.
CSQ: What has been your biggest success story?
Nick: There was one tenant who decided to stay in her unit through construction. It was a big inconvenience for her but she stayed. I was able to negotiate a rent concession from the owner and she was incredibly grateful. She wrote me a heart-felt thank you and it’s the small things that make the difference.
CSQ: What are some of your passions?
Nick: People. I love the people side of things. That’s why I left corporate construction. As much as I know and understand the finance/corporate side of things, I love working with people. I get to deal with tenants, staff, clients, etc. and every day is a challenge.
CSQ: I remember you telling me about the gift cards you would give tenants. Tell me a bit more about that.
Nick: It’s all about empathy. Especially for projects where you are not issuing NTVs [Notice to Vacates]. You need to look at it from the client’s perspective and the tenant’s perspective. It can be a bit of an inconvenience for these tenants to live through the construction. When I introduce myself to the tenants and get to know them, I can explain that there’s light at the end of the tunnel. The owner is trying to create a better place to live but it can be tough on tenants through the process. We need to make sure the tenants are taken care of because at the end of the day, they’re our customers. As a courtesy, I introduce myself to each tenant and offer them a Starbuck’s gift card to thank them for working with us. I also give them my personal cell phone and let them know they can call me at any time.
CSQ: What about your personal passions?
Nick: I love being in the outdoors and I love cars. I used to race cars, actually. I’ve also done a lot of fishing in the Eastern Sierras.
CSQ: Tell us a story of the most challenging tenants.
Nick: I’d say there are more challenging tenants than non-challenging tenants. Toughest challenge is probably a tenant I’m dealing with right now with a roof leak.
CSQ: Wait it’s not one of our buildings is it???
Nick: No. We had a small roof leak in a unit and the tenant is not being responsive, won’t let the contractor’s in, etc. We’ve been out there at least 5 times and now they’re in eviction over a small repair leak.
CSQ: Wow, good thing you’re a people person to deal with difficult tenants! Any other parting thoughts?
Nick: Keep buying buildings!
Cyber security is an ever-evolving concern for companies across the globe. In a continued effort to “Find a Better way”, CSQ has implemented Two-factor Authentication into its Investor Portal platform. This is an opt-in feature. You can utilize this security feature with the Google Authentication app on your cell phone. Please call or e-mail us if you’d like to set it up on your account.
1955 Locust Ave - Rehab complete 3 months ahead of schedule and 100% leased!
Reseda Medical Arts Building
As anyone with construction experience knows, there are typically hiccups in projects. It would be great to say every project goes perfectly, but that simply is not true. In this case, we completed a $500k remodel and found leaks in the new outdoor second floor patio area. Good relationships with subcontractors is critical to finding amicable and timely solutions. In this case we came up with a solution and the tile contractor is absorbing the majority of the repair costs.
1470 Elm Ave
We are moving along well with the exterior and interior construction on this property. The building has been painted, electrical subpanel replaced to add power to the back security gates, 3 units demo-ed, and kitchen cabinet installation has begun!
As you can see there is a lot going on in the world of CSQ! Thanks for following and thanks for being a part of the journey.