Fickling & Company’s Multifamily Division had an outstanding 2007. Total Revenue increased by an average of 9% over 2006 operating results. Overall occupancy increased by an average of 5%. Our success was largely due to hiring and training highly professional and knowledgeable employees, effectively raising rents as availability dictated, closely monitoring expenses, maintaining a strong position and reputation in the market, and using well-planned customer service campaigns.
Our multifamily portfolio doubled in size in 2007 through acquisitions, development and third-party management. Markets included Georgia, South Carolina and North Carolina. The new properties consisted of value-added, class-A and underperforming assets.
We have once again set our NOI goals high for 2008. The cooling of the condo market, due to growing inventory and lower public interest, rising foreclosures, tighter lending standards and the overall slump in the single-family home market are anticipated to continue to drive rental demand.
Susan Cooper
Multi-family Property Management
Macon Commercial Office
478-746-9421