Who is Berger Rental Communities?

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1 Who is Berger Rental Communities? Berger Rental Communities is a full-service property management company that handles all facets of multi-family property management. Our reputation has been built on a 35 year, multi-generation history of providing outstanding performance and maintaining trusted relationships. At the cornerstone of our success is a skilled, close-knit management team which combines talent, expertise, and professionalism with a positive, pro-active approach. Berger Rental Communities goal-oriented management philosophy is dedicated to exceeding resident expectations and fostering a strong sense of community at every property we manage. An Accredited Management Organization Berger Rental Communities is one of only 17 Accredited Management Organizations in Pennsylvania and one of just 500 such organizations nationwide as designated by the Institute of Real Estate Management. This exclusive designation is a testament to our solid history of financial stability, commitment to professional education, and high ethical standards. Core Values The Core Values of Integrity, Accountability, Collaboration, and Continuous Improvement are the foundation of the company and are considered with every decision made. Team members are hired and evaluated based upon these Core Values. Berger Rental Communities continues to hold true to the same principles on which it was founded-an understanding that the customer is the most important part of our business, and we must do everything to attract and retain the customer for life. These principles are complimented by the personal touch emphasized in every interaction with prospective residents, current residents, and employees. Berger Rental Communities examines every facet of the operations to ensure that no detail is missed and no opportunity is lost while always remaining steadfast to its Core Values and Core Purpose, To provide every resident with the Ahh...home feeling each time they enter their home. CORE VALUES Integrity Accountability Collaboration Continuous Improvement

2 Is Berger Rental Communities Ideal for Me? If your passive income investment has evolved into a full-time job, or you are dissatisfied with the lack of professionalism and accountability in your existing outsourced management company, then restore confidence in your apartment community with Berger Rental Communities. Look to Berger Rental Communities if you are experiencing any of the following: High vacancy rates Out of control expenses Declining property value High resident turnover Excessive delinquency High utility costs Berger Rental Communities expert management is ideal for the Owner who: Owns one or multiple apartment communities that are each 50+ apartments in size. Owns a C+ to A- apartment community but wants to offer A+ services to their residents. Owns an apartment community located in Pennsylvania. Wants to benefit from the expense management, technology, training, and expertise of a larger property management company. Has a hold period of 3 or more years and wants to maximize the apartment community s financial returns while continually maintaining and enhancing the physical asset. Wants complete transparency in the management of their asset. WELCOME TO BERGER When your property becomes part of the Berger Rental Communities portfolio, you can expect that our management practices will be integrated immediately with a very smooth transition that will keep your residents satisfied.

3 Unique Practices That Produce Results TECHNOLOGY Electronic fund deposits offer residents the option of paying rent online through an ACH transaction, which automatically posts to the resident ledger. 65% of residents pay rent online. Online maintenance service requests and facilities management allow residents to submit service requests online. Online leasing process allows future residents to apply for an apartment 24/7 from the comforts of their own home. They continue with the online process to sign their lease online at their convenience. Electronic storage, retrieval, security, and archiving of all documents and forms associated with the property management process, including resident files and vendor invoices. This allows real-time, on-demand access to these documents from anywhere in the world. Automated marketing and leasing processes, which electronically record all contacts with prospective residents to ensure that every lead is properly managed and accurately reported to evaluate the success of marketing sources and leasing teams. Sophisticated computerized systems to allow owners, executives, and employees access to real-time, on-demand, financial and operational reports. These systems link each multi-family asset to the firm s corporate and regional offices. CUSTOMER SERVICE Electronically recorded phone calls and routine video-taped mystery shops of all leasing personnel provide valuable feedback and ensure the highest quality of service. Trained leasing consultants are available 24 hours a day/365 days a year to answer telephone calls from prospective and current residents. A unique variety of Berger Rewards offered to all residents. WELCOME TO BERGER When your property becomes part of the Berger Rental Communities portfolio, you can expect that your property will be seamlessly integrated into our property management software systems to ensure that your return is maximized right away.

4 Unique Practices That Produce Results EXPENSE MANAGEMENT Controlled purchasing to select suppliers, who merge their products and services onto one consolidated Berger Rental Communities website, ensures economies of scale and corporate contract pricing on every purchase. Utility conservation program geared towards minimizing owner s total utility expense with an emphasis on water conservation. Trailing 12 expense management reports to evaluate trends and additional cost cutting opportunities. RISK MANAGEMENT Systematic computerized underwriting criteria to underwrite all rental applications to minimize exposure from fair housing claims and the community s overall financial exposure from credit risks. Required renter s insurance for all residents reduces the cost of insurance deductibles and out of pocket expenses from resident-caused damages. And our commitment to providing every resident with the Ahh...home feeling each time they enter their home. TRANSITIONS When your property becomes part of the Berger Rental Communities portfolio, you can expect that our management practices will be integrated immediately with a very smooth transition that will keep your residents satisfied.

5 Steve Berger, Founder As a founding partner at Berger Rental Communities, Steve Berger has overseen the growth of a company whose dedication to its Core Values and Purpose never waivers, a company committed to constantly innovating and providing exemplary services for every resident. He is proud to have participated in Berger Rental Communities transformation from a small handful of dedicated staff members into a team of almost 100 housing professionals working together to provide thousands of residents with unmatched apartment rental experiences. Steve graduated from Farleigh Dickinson University with a degree in Accounting. After serving his country in the military and working as an Accountant with Touche Ross and Company, he joined his brother Jim in building and growing Berger Rental Communities. He has been a licensed real estate salesperson since He spends much of his leisure time involved in a multitude of philanthropic activities and is proud of the charitable commitment of Berger Rental Communities and its team members. He also enjoys following local sports teams, working out, and traveling. COLLECTIONS PRACTICES Since its inception in 1973, Berger Rental Communities has been leading the industry in collections practices. From our applicant rental guidelines to centralizing the legal process to our corporate office, we have 64% less bad debt loss than our competitors.

6 Dan Berger, President Dan is continually seeking ways to create a memorable apartment rental experience for each Berger Rental Communities resident. He believes that Berger s success lies with the personal touches of its employees and the overall company focus on resident satisfaction and retention. In his role as President, Dan is dedicated to constantly improving company operations. He appreciates having the opportunity to improve the daily lives of thousands of residents and values working with a team of professionals who all genuinely care about the welfare of Berger Rental Communities residents. After Dan received his Bachelor of Science in Business Administration from Boston University, Dan returned home to the Philadelphia area and attended graduate school at Temple University where he obtained his JD and MBA. After becoming licensed to practice law in Pennsylvania and New Jersey, Dan found his true calling in property management when he joined the Berger Rental Communities team in When he s not busy fulfilling the Core Values and Purpose of Berger Rental Communities, Dan enjoys running, traveling, following Philadelphia sports and spending time with his wife Ashly and daughter Isabella. RESIDENT RETENTION It s no secret that retaining a resident yields significantly higher profits than renting to a new resident. To emphasize the importance of resident retention, Berger Rental Communities has a unique employee profit sharing program that places the highest value on retaining residents.

7 Michael Licata, Chief Financial Officer After successfully holding positions in the health care, service, distribution, retail and manufacturing industries, Michael Licata s career in property management began when he became the CFO for Berger Rental Communities in Michael loves the ever-changing landscape of the property management industry and the challenges he conquers on a daily basis. He also enjoys all the people that he meets and works with every day. Michael does a phenomenal job working within the financial and operations aspects of the company because he truly values and appreciates the positive impact that he has on the life of every resident. Outside of the office, Michael loves to read and follows sports of all kinds. As a graduate of LaSalle University, Michael is a loyal supporter of LaSalle University s basketball team. EXPENSE MANAGEMENT Berger Rental Communities expense management technology ensures that all property expenses are pre-approved. This technology makes it easy to apply a team approach to the approval workflow to prevent any expenses from going under the radar.

8 Doreen Piacitelli-Rozman, Regional Property Manager Doreen Piacitelli-Rozman began her career in property management in 1994 with a temporary position at a local apartment community while attending college. As a Regional Property Manager for Berger Rental Communities since 2008, Doreen ensures that the expectations of her residents are always exceeded. In addition to a BA in Business Management, Doreen holds a Certified Apartment Manager designation from the National Apartment Association, has a Real Estate Sales License and is a National Apartment Association Education Institute Advanced Instructor. She was also a facilitator for several years at MultiFamilyPro s Annual Brainstorming. What Doreen loves most about her career with Berger Rental Communities is the company s commitment to its employees and residents. She loves spending time with her husband Dan and daughter Addison in addition to boating, shopping and watching the Yankees. RESIDENT REFERRALS Leases that are a result of a resident referral are significantly more profitable than those from a paid source. Berger Rental Communities utilizes a unique referral program that has positioned resident referrals as the top lead source for the company. Resident referrals generate 3 times the number of leases than its 2nd best advertising source.

9 Tonaus John, Regional Property Manager As a Regional Property Manager for Berger Rental Communities, Tonaus John is responsible for all operations including leasing and maintenance of his communities, which are primarily in student markets. Prior to joining Berger Rental Communities in 2007, Tonaus served as a Community Manager in Chicago, Illinois. His previous experience in the hotel and restaurant management industry included managing daily operations of hotel chains like Hilton, Wyndham and Interstate groups of hotels. Tonaus, an Accredited Resident Manager, is currently on his way to receiving a Certified Property Manager designation from the Institute of Real Estate Management. When not providing residents with an unparalleled apartment rental experience, he loves to read Entrepreneur and Fortune magazines, watch football and basketball, and spend time with his wife, Sherin, and new twin daughthers, Ashlyn and Roselyn. RESIDENT SATISFACTION Used for residents to share feedback of all kinds, ApartmentRatings.com ratings are a key indicator of resident satisfaction and retention. Our communities have an average ApartmentRatings.com rating that is 61% higher than the average for the cities surrounding our communities.

10 Veda Williams, Regional Property Manager Veda Williams joined the Berger Rental Communities team in 2011 with over 13 years of property management experience. She enjoys making a positive difference in the lives of her residents and team members on a daily basis. She loves embracing Berger Rental Communities commitment to exceed the expectations of residents while creating and cultivating an outstanding work environment for all team members. Veda has been a member of the Institute of Real Estate Management since 2000 and holds both Certified Property Manager and Accredited Residential Manager designations. Veda is also a National Apartment Association Certified Apartment Portfolio Supervisor. When Veda isn t improving the lives of Berger Rental Communities residents, she enjoys gardening, reading and spending time with her family. CLOSING RATIOS Berger Rental Communities leasing team members maintain a closing ratio that is 23% better than the industry average, which allows us to maximize efficiency by securing a high percentage of leases per lead. This is a direct result of our high standards, consistent training practices, and commitment to employ the best talent in the industry.

11 Frequently Asked Questions 1. How does Berger Rental Communities charge for their services? Typically, property management companies charge a percentage of collections. We prefer to charge for services based on net profits instead because our goal is to maximize profits, not simply collections, for our clients. This fee structure is clearly spelled out in the management contract and we always collaborate with our clients to determine the fee structure that best suits their needs. 2. How long does it take to transfer services to Berger Rental Communities? 30 days to transfer management services; however, this can be expedited if required. 3. How often will I receive reports from Berger Rental Communities? You will receive reports on your community s performance each week unless you specify otherwise. We believe that it is best for the client to have as much information about the community s financial performance as possible. However, some clients do not wish to receive the weekly reports and in those cases we send out monthly or quarterly reports. Reports can also be generated on-demand by the client at any time he or she wishes. 4. Will I have access to Berger Rental Communities property management computer systems? We believe in complete transparency between the client and the management company. As a result, our clients have complete access to all of our property management computer systems. 5. Does Berger Rental Communities do partial property management? We understand that not all clients need full management services. As a result, we offer partial management services. Berger Rental Communities can manage as many, or few, aspects of property management that our clients desire. 6. What services other than typical fee management does Berger Rental Communities offer? In addition to property management, we offer re-finance services (including shopping for the best rates, selecting a lending institution, and quarterbacking the process), property acquisition assistance, property sales assistance, and utility management. OUR SPECIALTY With almost a half a century of experience managing multifamily assets, Berger Rental Communities is considered an expert in multi-family property management. As a result, we choose to manage only multi-family properties rather than including other types of Real Estate in our business model.