Urban Coast Properties
After you buy your first home, given the power of real estate in San Diego, you know it’s a rock solid foundation to leverage and grow. As you continue your real estate career or hobby, you realize you want to build in a fail-safe plan for the worst-case scenario, giving your family and future generations security in cash flow and equity to build their lives and continue what you’ve started. Real estate is a multi-generational investment, and you’d like to pass on the knowledge you’ve acquired so that future generations will understand the value of holding and leveraging cash flowing real estate investments.
Urban Coast Properties, a boutique, premier San Diego Property Management Company, has walked the walk, and has been providing seasoned real estate investors with a tech driven platform and an old school, hands on solution to address an evergreen issue: What happens to my property when I pass it to the next generation?
This question becomes simple when a great (not good) property management company is involved in your portfolio and can communicate and help educate the next generation. Urban Coast Properties offers this solution, and we had a chance to sit down with owners Joe Brady and John Henry Winter-Nolte to discuss the solution to many of their clients’ issues.
How did you establish this company? What’s your 15-second background resume?
JH: Joe called me in 2011 one day and said, “What do you think about buying some apartments?” We haven’t looked back since. We self-managed properties because we couldn’t find anyone doing it better than we did. Investors noticed and we’ve been adding units to our management portfolio ever since. Urban Coast Properties continues to manage for long time investors and now manages over 200+ units consisting of a mix of apartments, homes, and mixed-use properties.
What sets you apart from other property management companies?
JB: Urban Coast Properties manage as if we are the owners of that property. We pay attention and look to the future to make sure to mitigate issues before they arise. Proactive solutions are less expensive and provide tenants and owners with a sense of security, minimizing the potential surprise capital cash event. We plan for major capital improvements and understand the importance of investing in improvements to benefit the property and the cashflow.
How do you protect owner assets for the future?
JH: Urban Coast Properties manages properties in the hope that our kids can realize the potential of our blood, sweat and tears. None of us luckily fell into an investment property. It took time, foresight and guts. We manage these properties for our legacy, not for our monthly bills. We provide the same level of service for our property management clients. We involve the sons and daughters of many of our owners. They make decisions and understand the importance of the asset and what it provides, more than the big cash event at sale, with the guidance of the investor.
What do you charge for your services?
JH: Urban Coast Properties doesn’t have hidden costs. We charge a monthly management fee percentage contingent on collecting rents from tenants. We have a veteran superb maintenance team to take care of daily tenant issues for which we charge a flat hourly rate. We have built relationships over the years with electricians, plumbers, general contractors, handymen, roofers, termite companies, etc. We take care of each other. Urban Coast handles all turnovers and renovations “in house” to keep costs down and maintain a sense of control over the move out, renovation, and move in process. Having done this hundreds of times, we’ve created an efficient and cost effective method for turnovers. We charge a small leasing fee to fill buildings and homes with the best tenants. The process is streamlined and we lean on our motivated employees to help keep units occupied and give tenants a sense of open communication to make sure they are taken care of.