Large properties are defined as residential rental communities that contain at least 100 apartment homes. KMG has managed individual properties with as many as 750 apartment homes and currently oversees a portfolio of 48 such communities.
KMG Prestige has developed expertise in managing properties of 75 or fewer individual apartment homes. Creativity is required in providing for the needs of the small property because all of the functions of management are required- leasing, maintenance, staffing, rent collection, reporting and financial oversight- and resources typically are limited. KMG currently manages 316 properties of this product type.
KMG Prestige’s portfolio is located in 56 of the 83 counties in Michigan. KMG maintains support centers in Mt. Pleasant, Lansing and Farmington Hills, Michigan. KMG Prestige also provides management services to residential multifamily communities in Indiana, Illinois, California, Ohio and Wisconsin.
Affordable Housing Program
Many rental programs have been developed and have seen significant growth in the past 30 years coinciding with KMG Prestige’s earliest affiliates entry into the market. KMG Prestige has developed expertise in the administration of the HUD 202, 221 (d4), 236, Section 8, and the Low Income Housing Tax Credit (LIHTC) Rental Housing Programs as well as the Rural Development 515 and a number of tailor-made rental programs developed through the auspices of the Michigan State Housing Development Authority.
KMG Prestige’s clientele is broad based, and although most are for-profit entities, a significant minority are non-profit organizations. The typical organizational structure of the client is that of a limited partnership or a limited liability company.
A thread that is common to most of KMG Prestige’s clients is that they have their roots in the field of real estate development either creating new communities or acquiring and rehabilitating exiting housing properties.
KMG Prestige is proud of the quality of the relationships it maintains with its clients, most of which have endured over a long period of time.
Ever mindful of the impact our decisions and policies have upon its customer base of families, senior citizens and those with special needs, KMG Prestige strives to be a positive force in their lives. Over 50,000 people depend on the effort and reliability of KMG Prestige associates.