Residential building management -- when service is everything.

The management of residential properties is often more of an art than a science. Even in today's high teoh world where everyday business is relying more heavily on e-mail and Internet electronic communication than previously, the key to successful building management can be summed up in four concepts -- a high level of personal service, teamwork, proactivity not reactivity, and quick response: to client needs.

One of the distinguishing elements of a good building manager is a focus on the client's unique needs. At Brown Harris Stevens, we look at every building that we manage as a community of individual owners or residents who each have needs and concerns that we try to address in the most responsive way. In addition, each property presents a unique set of characteristics and challenges that we must meet in order to maintain a high quality of living standard for owners and residents. At the same time, it is essential to always strive to maintain and enhance the value of the property through first rate management of each building.

Management Focus

As manager of over 160 luxury properties in Manhattan, we focus on three areas of primary concern to clients:

* Asset management, which is essential to maintain the fiscal health of the property.

* Property management, including the staffing and maintenance of building operating systems.

* Relationship management, a key element that must be addressed in order to maintain the quality of life in a building. This often demands weighing and accommodating diverse interests of individual residents and owners.

Building Management Structure

We believe the most effective wa. to address the needs of the properties we manage is through an organizational structure geared to anticipate each client's needs and then thoughtfully and intelligently respond to those needs. Successful building management must start at the most basic level that is at the property itself. Each building that we manage is placed in the hands of an experienced. Property Manager who works as a team member with the resident manager or superintendent. At Brown Harris Stevens we also assign an Account Executive to each building who works in tandem with the Property Manager. Rarely does an individual possess all the skills necessary to manage a building in today's complicated financial and changing technological environments: We have found that the team approach enables professionals: with complementary with the highest levels of expertise available.

Feedback and communication are essential if a building is to run efficiently. Clear reporting lines help insure that little "falls through the oracks" and in our tiered management structure the individual Property Manager and Superintendent report to the Account Executive for regular review of outstanding issues. Senior management always maintains an awareness and involvement with Account Executives thereby providing each building with multi-tiered levels of expertise.

Service--

The Most Essential Ingredient

Ultimately, every resident or owner wants the comfort and knowledge that if a problem occurs it will be addressed and solved promptly. Building management is above all else a service business. Managers must be courteous at all times and also be attentive listeners. Training of our personnel is intensive and focuses on the essential elements of listening carefully and providing prompt, caring and expert service.

Teamwork to Get the Job Dane

Each building may consist of hundreds of residents with ever-complicated issues to address on a daily basis. We take a team approach to every element of the management process. The team approach described in the provision of everyday services also applies to the other key areas such as financial control and reporting as well as purchasing services.

Technology --

The Rule of the Day

If high-level client services are to be maintained, state-of-the-art hardware and software must be available to every level of management dealing with a property. We maintain custom designed software to manage the unique character of our building portfolio. An expert Information Technology Department is at the core of being able to provide information on a real time, up to the minute schedule, to insure that financial and maintenance data is available to both Resident Managers and Account Executives.

Today's Challenge

Managing a portfolio of Manhattan's finest buildings presents challenges, which evolve daily. The character of many properties some dating back to the 19th Century need to be maintained and preserved even with demand for high-speed Internet access, cable TV systems and new technologies that are evolving everyday.

Part of our challenge as building managers to be able to integrate the new with the old and provide our clients with the highest level of service in the most seamless and efficient way possible.

JULIA F. WIULKIE

EXECUTIVE VICE PRESIDENT

DIRECTOR OF MANAGEMENT

BROWN HARRIS STEVENS