M Shapiro Real Estate Group| Commercial Real Estate, Nationwide Property Management Services, Farmington Hills, MI

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Our Diverse Portfolio

M. Shapiro Real Estate Group and its affiliates have over 30 years experience in real estate ownership, development, and management. Our diverse portfolio in the U. S and Canada includes:

  • Approximately 1 million square feet of office space
  • 150,000 square feet of retail space
  • 450,000 square feet of industrial space
  • Several hundred improved single family residential lots
  • Nearly 2,000 acres of undeveloped land
  • 5,000 apartment units in 17 communities

In addition, our 18,000 mobile home pads place us among the largest private owners of manufactured home communities in the country, and we own and manage the largest manufactured home community in Canada.

Effective Property Management to Turn Around a Distressed Property

A 64-unit apartment complex had fallen into serious disrepair. The owner, elderly and in failing health, had turned the property over to third party managers who failed to maintain the complex, regularly remove trash, or stay current on mortgage, tax, and other payments. The owner received no reports from the third party managers, and rent payments had disappeared.

Appointed by the court as receiver, we discovered the situation was worse than expected: a great deal of property damage had gone unrepaired, several units were unrentable, and rents on many units were in arrears.

Within 48 hours of being appointed receivers, M. Shapiro took control of the property, collected all property management records, and had the third party managers removed.

We quickly took steps to turn the apartment complex around:

  • rehabbed units that had been left in unrentable condition
  • installed professional on-site management
  • evicted delinquent tenants
  • built verifiable P&L statements
  • cleaned up the apartment grounds and removed all trash and debris

We were able to rehab and lease apartments at a total cost of $25, 000, and in turn increase gross revenues by $7,000 a month.

M. Shapiro turned the apartment complex around, increased occupancy, installed professional accounting systems and effective management, and made the property marketable for sale. And we did it all in less than 120 days.

Property Management Portfolio

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