Property Management Services
Mainstay has a proven track record of successful facilities development and project management, having designed and produced housing for individuals of all ages in need of safe, attractive, and affordable accommodation.
For Mainstay, successful Boston and Worcester property management is a combination of strong asset preservation and solid financial administration. Mainstays facilities management team has received numerous awards for the high quality of their facilities maintenance, resulting in properties which make a positive contribution to the surrounding neighborhoods.
Mainstay takes a proactive approach to property management, an approach that requires focus on the owner, as well as the property. The staff at Mainstay is trained to continually think like an owner in all aspects of their job performance.
With its own multi-family portfolio of 247 apartments, all associated with affordable housing programs, Mainstay closely monitors adherence to resident income restrictions, occupancy percentages, and debt service coverage ratios on a monthly and annual basis.
The Mainstay team, which includes HUD Certified Subsidized Occupancy Specialists, is trained to assist tenants with meeting and maintaining the compliance standards set forth by federal and state agencies. Once a customer provides Mainstay with the pertinent data about its project(s), contract, units and tenant information, Mainstay will handle the rest to ensure the timely collection of rental assistance payments.
Facilities management services provided include, but are not limited to the following:
- Initial certification and subsequent re-certifications of tenants in accordance with HUD regulations
- Transmission of monthly vouchers to HUD via Mainstay’s licensed TRACS system software
- Preparation of special vouchers
- Billing and collection of monthly rents
- 24-hour on-call maintenance service
- Apartment clean-out when tenants leave
- Monthly reports mailed to property owners
- Regularly scheduled exterior / common area inspections
- Routine maintenance & updating of property files
- Obtaining quotes for major improvements / repairs from our list of preferred contractors
For more information regarding our facilities management services, please contact Susan Horner at susan.horner@mainstayliving.org
Operational and Administrative Support
Mainstay provides an alternative means for property owners and service providers to outsource part(s) of their administrative or financial tasks to a knowledgeable third party. Mainstay’s financial team has earned top scores from tenants, clients, and state and federal agencies for its proactive approach to identifying and resolving problem situations.
- Mainstay provides professional real estate property management (financial and administrative) services to investors in and owners of multi-family properties.
- Mainstay takes a team approach to creating solutions that achieve successful results for its clients.
- Through continuous education and exposure to innovations in technology, and adaptive management practices, Mainstay clients are assured of ongoing compliance with state and federal regulations.
Clients can choose from varying levels of support. Mainstay can assume all responsibilities associated with those of a full-service management agent, or a model can be designed that addresses the customer’s precise needs. Mainstay’s experienced professional staff can directly perform, or assist the client’s staff in all areas of finance: accounts payable, accounts receivable, payroll, general ledger, financial reporting, strategic planning, and human resources.
The first step is the preparation of a comprehensive needs analysis to determine what services may be required, and the role that Mainstay can play. Each organization's needs are different based on the number of units or tenants, the expertise of current staff, owner/agent familiarity with rules and regulations, and the type of funding that is used to subsidize operations.
Once its role is clearly identified, Mainstay will then work with the client to ensure that its compliance with the regulations of the designated federal and/or state agency and its financial objectives are met. Regardless of the needs, Mainstay’s in-house team, complemented by our expert outside resources, will design a service plan to provide increased productivity, profit and compliance.
For more information, or to arrange for a needs analysis, please contact Susan Horner at susan.horner@mainstayliving.org.