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We are very excited to announce that Magnum York has once again been published in the DDC Journal!
You can find the full article on page 42 of the Spring 2017 issue of the Magazine. “The Power of Exceptional Service”
Or you can read the article below. It is all about Magnum York’s attention to customer service, the vendor program, and our online portal system. Thanks to DDC for the fantastic write-up.
The Power of Exceptional Service
Alberta’s Largest Independent Company continues to grow with an all-inclusive approach to property management.
With its unique combination of personal attention and large-scale buying power, Calgary’s Magnum York Property Management has grown considerably from its humble beginnings in 1992.
The past 8 years have seen the company grow from a relatively small firm to the largest independent company in the province of Alberta. Owner Peter Best has led this growth since he purchased Magnum York in 2008. it currently has about $2 billion worth of condominium and multi-family apartment properties under its management.
“I bought a small company of 5 people, and now we’re just shy of 50 people. And that’s only eight years in.” Best says. “It’s all about acquisitions. As we grow, we buy small companies in smaller towns, and we add industry employees. That small town then gets better service.” At this time, Magnum York is in the middle of an effort to consolidate the number of vendors it works with in an effort to boost efficiency and reduce costs for its clients. The program, which the firm launched in November 2016, will take its total number of vendors from 1,500 to about 300.
This, Best says will allow the company to better negotiate prices on various services, as vendors will be competing more actively for contracts.
“Every one of our clients should have the same service price,” he says. “An example that we have is we have a plumbing bill for which the standard prices is $120 an hour. One property manager negotiated $110. Another negotiated $85. That PM knows and pushed a little harder and was a little more experienced and had a little bigger building. We are basically saying it doesn’t matter how big a building is–if you are under our management, I want $85 per hour, period.”
“They are going to get more business from us in return by having a better rate and more consistent rate,” hey says. “I’m having random people call me up that I have not talked to in years saying that they want to get into the program. People are talking about it. We’re trying to be a leader to do it.”
Magnum York has Dedicated Property Managers
In addition to its dedication to reducing costs for clients, Magnum York is also known for the personal attention it delivers with each property. “I care about our clients and want them to receive the best service possible,” Best says. “I know many of them personally and know a lot of their board members. My [property managers] also talk to me about things, so I’m involved even if I’m a little removed from a project. Most of our clients have my direct number, so they can contact me and I’ll respond.”
A significant part fo these efforts is in the firm’s use of the latest technology to make the property management process more efficient and effective.
“We are always looking for ways to make things easier for [clients] or save them money,” Best says. “If we can be more efficient, that means we don’t have to charge them as much. We can keep costs down and be more effective.”
The article continues on Page 45 of the DDC Magazine Issue:
The firm offers online portals, giving its clients the ability to log in and view various reports and ledgers, along with maintenance updates. They also provide quick access to condominium bylaws, meeting minutes, operating budgets and reserve fund reports.
“We use technology to track all the service tickets and purchase orders to make sure they all work together well,” Best says.
The Magnum York team also believes in offering the same services and opportunities to all its clients. Regardless of their needs or the size of their development projects.
“It allows us to be consistent on how we treat our clients,” Best says. “Every client is treated the same way and gets the same level of service, whether they are building 14 or 1,400 units. Our staff members and property managers are trained to deal with every problem, and they don’t miss things.”
A Bright Road Ahead for Property Management in Alberta
As he looks to the future, Best says Magnum York will continue to set itself apart in Alberta and western Canada, building on the success it has already achieved as a reputable property management firm. Further growth is also a real possibility.
“We are looking at some acquisitions for a corporate company,” Best says. “We have a few more internal systems we are trying to improve on. We are hoping to keep our staff count up as we grow so we can be more competitive in our pricing.”
The Spring Issue of the DDC website is available by clicking below! Find us on pages 42-45:
Thank you again to DDC and we look forward to reader feedback!