Market Research Report: Preservation Management, Inc.

Background

Company Overview

Preservation Management, Inc. (PMI) is a full-service residential property management firm specializing in affordable housing. Established in 1990 and headquartered in South Portland, Maine, PMI manages a diverse portfolio of residential multifamily, subsidized, and tax credit properties across 17 states. The company's mission is to provide safe, high-quality, and well-maintained communities where residents can thrive. PMI emphasizes values such as professionalism, accountability, communication, ethics, and safety in its operations.

Industry Significance

PMI plays a crucial role in the affordable housing sector, addressing the growing demand for quality, affordable living spaces. By managing properties under various subsidy programs and tax credits, PMI contributes to the preservation and enhancement of affordable housing communities nationwide.

Key Strategic Focus

Core Objectives

PMI's strategic focus includes:

Asset Maintenance: Ensuring properties are well-maintained through regular inspections and preventative maintenance.

Compliance: Adhering to various housing programs and regulations, including Project-Based Section 8, Low Income Housing Tax Credits (LIHTC), Rural Development, and Rental Assistance Demonstration (RAD).

Resident Relations: Fostering positive relationships with residents through community engagement and support services.

Areas of Specialization

PMI specializes in managing affordable residential multifamily properties, including subsidized and tax credit properties. The company focuses on acquisition, redevelopment, and long-term ownership of affordable rental housing.

Key Technologies Utilized

PMI employs a modern technology stack, including AWS, WordPress, and SAP maintenance tools, indicating an openness to digital innovation and creating opportunities for customized tech services, platform integrations, or system upgrades.

Primary Markets Targeted

PMI operates in 17 states, managing over 9,600 units across 107 properties. The company's primary markets include areas with significant affordable housing needs, focusing on providing quality living spaces for low-income families and individuals.

Financials and Funding

Funding History

Specific details regarding PMI's funding history are limited. The company has raised a total of $2 million in funding.

Total Funds Raised

PMI has raised a total of $2 million in funding.

Notable Investors

Information about specific investors is not publicly disclosed.

Intended Utilization of Capital

While specific details on the utilization of capital are not available, it is likely that funds are allocated towards property acquisition, redevelopment, maintenance, and compliance with housing programs.

Pipeline Development

Key Pipeline Candidates

PMI's portfolio includes 107 properties with over 9,600 units across 17 states. The company focuses on the acquisition, redevelopment, and long-term ownership of affordable rental housing.

Stages of Development

PMI is involved in various stages of property management, including acquisition, redevelopment, and long-term ownership. The company emphasizes maintaining assets through rigorous inspections, preventative maintenance, and safety protocols.

Target Conditions

PMI targets affordable housing properties, including those under subsidy programs and tax credits, aiming to provide quality living spaces for low-income families and individuals.

Anticipated Milestones

Specific timelines for anticipated milestones are not publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

PMI utilizes a modern technology stack, including AWS, WordPress, and SAP maintenance tools, indicating an openness to digital innovation and creating opportunities for customized tech services, platform integrations, or system upgrades.

Significant Scientific Methods

While specific scientific methodologies are not detailed, PMI emphasizes compliance with various housing programs and regulations, including Project-Based Section 8, Low Income Housing Tax Credits (LIHTC), Rural Development, and Rental Assistance Demonstration (RAD).

Leadership Team

Key Executives

Sheila Malynowski: President

Wallace Sisson: President

Kris Landry: Regional Vice President

Michele Folino: Regional Vice President

Gail Berlinger: Vice President, Supportive Services

Professional Backgrounds and Contributions

Sheila Malynowski: As President, Malynowski leads PMI's strategic direction and operations.

Wallace Sisson: As President, Sisson oversees PMI's overall management and growth initiatives.

Kris Landry: As Regional Vice President, Landry manages operations in specific regions, ensuring compliance and resident satisfaction.

Michele Folino: As Regional Vice President, Folino oversees regional operations, focusing on property performance and community engagement.

Gail Berlinger: As Vice President of Supportive Services, Berlinger leads initiatives that enhance resident services and community programs.

Competitor Profile

Market Insights and Dynamics

The affordable housing sector is experiencing growth due to increased demand for quality, affordable living spaces. PMI's competitors include other property management firms specializing in affordable housing, such as Peabody Properties, Inc., Picerne Real Estate Group, and Maloney Properties, Inc.

Competitor Analysis

Peabody Properties, Inc.: Manages over 10,000 subsidized and residential units, focusing on affordable housing management.

Picerne Real Estate Group: Manages approximately 10,600 subsidized and residential units, specializing in affordable housing.

Maloney Properties, Inc.: Manages over 9,800 subsidized and residential units, emphasizing affordable housing management.

Strategic Collaborations and Partnerships

PMI collaborates with developers, investors, and nonprofits to enhance its property management services and expand its portfolio.

Operational Insights

PMI differentiates itself through a strong commitment to fair housing principles, comprehensive property maintenance, and resident engagement programs. The company's focus on compliance with various housing programs and regulations ensures operational excellence and resident satisfaction.

Strategic Opportunities and Future Directions

Strategic Roadmap

PMI aims to expand its portfolio by acquiring and redeveloping additional affordable housing properties, focusing on long-term ownership and community development. The company plans to enhance its technological infrastructure to improve operational efficiency and resident services.

Future Business Directions

PMI is committed to increasing its presence in existing markets and exploring new regions with high demand for affordable housing. The company seeks to strengthen partnerships with stakeholders to support its growth and mission.

Opportunities for Expansion

Opportunities include expanding into underserved markets, leveraging technology to streamline operations, and enhancing resident support services to improve community engagement and satisfaction.