Yellowstone Club Property Management
Yellowstone Club Property Management – PressCo Wins Prestigious PropTech Breakthrough Award for “Residential Property Management Platform of the Year” August 2022MediaCo Wins Prestigious PropTech Breakthrough Award for “Residential Property Management Platform of the Year” PropTech Progress
The Yellowstone Club is a 13,600-acre private residential community in the Rocky Mountains of Montana. More than 335 privately owned vacation residences, with several hundred more planned in the near future, currently comprise the community, which offers unparalleled personal service as well as membership in the world’s only private ski and golf community and access to other outdoor activities, including fly fishing. , horseback riding, kayaking and snowmobiling.
Yellowstone Club Property Management
Yellowstone Club Residential Services manages 220 luxury properties totaling 1.2 million square feet for its residents. The residences, priced between $1.9 million and $20 million, range from 2,000 to 12,000+ square feet. As an additional service to residents, the Yellowstone Club operates a members-only rental program for 80 of these properties. Its 45 property managers use the Inspections app to walk each unit weekly, as well as perform arrival and departure inspections. Platform Co ensures Yellowstone Club provides a superlative experience for residents and saves the Club more than $100,000 annually in inspection-related costs.
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Yellowstone Club residents are high net worth individuals with busy schedules and high standards. As a result, the Club prioritizes strict housekeeping standards throughout the year and offers extensive hospitality services to residents, including grocery shopping and car delivery. Property managers carry out weekly checks on each property, as well as carry out arrival and departure inspections to ensure a constant state of readiness in the home, as residents can arrive without significant advance notice.
During these inspections, Yellowstone Club property managers evaluate hundreds of items per property. A typical residence includes five to six bedrooms with high-end premium amenities such as home theaters, game rooms, expansive landscaping, swimming pools and luxury vehicles that make inspections challenging. Prior to Co’s implementation, property managers conducted these inspections on paper forms and had to return to the office to process these forms, match photos to properties, scan reports and email them to owners and senior management. Preparing and scanning 220 weekly reports plus arrival and departure inspections became a clerical challenge that resulted in thousands of wasted hours pushing low-return paper. Yellowstone Club implemented Co’s platform in August 2013, and today its entire team of property professionals conducts their inspections electronically.
With the Inspections mobile app, inspectors do their jobs more efficiently and using a mobile form ensures that inspectors collect consistent and complete property data. The Manage web control center gives management the ability to monitor inspection compliance, customize inspection forms to resident preferences, and instantly deploy updated forms to users.
“Using these inspection templates allows us to save 65 minutes per settlement turnover. This time is vital for same-day turnover, where one guest’s departure and another’s arrival can be less than three hours apart,” said Ben Whaley, Director of Property Manager Residential Services. Management also powers the Yellowstone Club control access to specific information to protect its records For example, more senior property managers have access to copy inspection records while junior managers have limited access to previous reports.
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In addition to eliminating thousands of hours of office work per year, Co has also improved resident satisfaction by providing property owners with full visibility into inspection and repair data.
“The Co Inspections app allows us to easily and effectively provide a record of our inspection services and property history issues. This has been very well received by our customers who regularly review our inspection reports,” said Ben Whaley.
“The Inspections app has allowed us to create attractive, clean and concise reports to present to our clients. The relationships we are able to create with Inspector are head and shoulders above our competition. Our clientele has responded positively to our new inspection reports versus our previous report format.” Ben Whaley Chief Property Manager, Residential Services
The adoption of the Co platform has produced tangible financial benefits for the Yellowstone Club. Kenny Holtz, Yellowstone’s Director of Residential Services, reports that both field inspectors and office staff save an average of 10 minutes per weekly inspection. In addition, the Yellowstone Club saves 65 minutes per residence turnover – 20 minutes per arrival inspection and 45 minutes per departure inspection. Man-hours saved annually equate to more than $100,000: 3,796 hours for weekly inspections ($68,328) and 2,345 hours for arrival/departure inspections ($42,210).
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Compliance with company inspection policies has also increased. Before Co, the weekly inspection report completion rate averaged 65%. After deployment, inspection compliance completion increased 46% to 95%, positively impacting customer satisfaction and reducing the number of avoidable incidents with potential for property damage.
“We are extremely pleased with Inspections by Co and can’t imagine running our business without it,” said Holtz. “It is critical to keep us on top of managing our housing. We’re always looking at what other companies are doing in the space, and nothing comes close to matching the features or flexibility of the Inspections app.”
“We’ve saved thousands of hours and more than $100,000 a year with Co. Inspector eliminates the unnecessary clerical work that our inspectors used to perform. And with inspection compliance up to 46%, we have improved resident satisfaction with our property management services as well.” Kenny Holt Director of Residential Services
Case Study Royse and Brinkmeyer Apartment Rental Company Turns to Co to Automate Its Inspection Process and Speed Up Repairs1K Units New homes go up along a dirt road overlooking Big Sky Community Park on Wednesday, March 11 2020, in Big Sky. Some of the houses have already been completed.
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“You can’t get a job because there’s nowhere to live here, and there’s nowhere to live because construction is so expensive in part because of the labor shortage.”
BIG SKY – The mountains brought Waylon MacNaughton and Rebecca Boyd here a decade ago. They spent a few years renting an apartment near Big Sky Resort, but knew they wanted to stay put, so they started looking to buy a house.
They couldn’t find one they wanted at a price they could afford. Even a studio was astronomically expensive.
MacNaughton, a property manager, and Boyd, a retail buyer for the Yellowstone Club, eventually heard about MeadowView Condominiums, a new affordable housing project, and joined the waiting list. This fall, they moved into their new Arapaho Trail home, which overlooks Big Sky Community Park and has two bedrooms and a garage.
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MacNaughton and Boyd are among the first owners of MeadowView Condominiums, the first deed limited condominium in Big Sky. The development is one of the first significant efforts to address Big Sky’s need for hundreds of below-market-rate units.
The first 18 units were completed a few months ago, while the remaining 34 are under construction. Once construction is complete, the new units will provide homes for some of the 50 people now on Big Sky Housing Trust’s waiting list.
But the housing trust, which is developing the project, faces a $1.2 million deficit on the final 34 units due to design changes midway through the project, rising costs of supplies and labor shortages that have led to higher costs. high labor costs and expensive construction delays.
Even with the cost increase, Big Sky officials remain optimistic that there is a path forward for several affordable developments that are in the works and moving forward with projects.
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The first studios at MeadowView Condominiums sold for $140,000. Two-bedroom starter units sold for $285,000 or $305,000 depending on the particular unit. These prices are about 30% below market and are aimed at households with a maximum income of $110,000. Final prices for the remaining units have not yet been set.
“We’re reluctant to raise the price because we want to keep them affordable,” said Laura Seyfang, director of Big Sky Housing Trust, which is building the MeadowView condominiums. “Even without the price increase, homes would be difficult for some people to afford.”
The housing trust can’t afford the high wages that other developments can, so Seyfang said she is exploring modular construction for future projects, meaning the units will be built elsewhere and then assembled on site. , thus reducing the number of local workers needed.
“It’s a Catch-22,” she said. “You can’t get a job because there’s nowhere to live here, and there’s nowhere to live because construction is so expensive in part because of the labor shortage.”
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The housing trust has received a $120,000 donation from the Yellowstone Club, which will help offset some of the $1.2 million deficit. Seyfang said she may also seek money from the Big Sky Resort Tax Board, which has previously provided money for the project. It is also seeking in-kind contributions from contractors for work such as paving and landscaping.
The Big Sky Resort Tax Board’s budget allocation process for next year has already begun. The board will have to balance competing priorities as it decides whether to fund new affordable housing projects or provide money to help Big Sky Housing Trust with the MeadowView Condominiums deficit.
“I’m not sure if the board would support additional money for MeadowView either
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