DALLAS, TX – Noel Management, a leading multifamily housing operator focused on acquiring, managing, upgrading, and selling large-scale multifamily housing assets since 1985, announced today the launch on a new division to oversee all management functions for multifamily owners across select Texas markets.
Noel Management specializes in the full range of property management services, including acquisition, advisory, maintenance, lease-up, and marketing. With professional relationships spanning decades in the multifamily housing space, Noel Management offers apartment owners a competitive advantage through offering vertically integrated services designed to increase revenue and reduce operating costs.
The core leadership team at Noel Management consist of Lenny Licht, CEO and Stephanie Allen, Vice President of Operations, who together bring more than 75-years of industry experience to the table. Mr. Licht began his career with the Henry S. Miller Company, during his tenure as Assistant to the President, and Vice-President of the Multifamily Division for the Henry S. Miller Management, the division grew units under management seven-fold. Mr. Licht funneled this expertise into his own brainchild, Noel Management. Allen is an industry veteran with over three decades of experience in all aspects of property management, including acquisitions, dispositions, new construction, lease-ups, and value add opportunities.
The firm s success lies in its proficiency in anticipating market trends and developing a unique, aggressive strategy of capitalizing on growing in-place cash flows and optimizing expenses. Historically, the company has been successful in operating properties at approximately $300 per unit less than competitive management firms through a formula of reducing controllable expenses. Since its inception, Noel Management and its affiliates have owned, managed, brokered, and financed over 10,000 multifamily units, totaling over 1.1 billion dollars in value.
Noel Management is also leveraging the latest technology to transform cost structures, reduce human intervention and redundant tasks. The firm is deploying a leading edge AI-leasing platform by 365 Connect, which is designed to mitigate time on market for vacant units through automating the entire leasing process, giving the company the ability to deliver leases for signature and collect move-in fees within 60 seconds of an applicant s approval around the clock.
Lenny Licht, CEO of Noel Management, stated, “With our tract record of outperforming competitive properties in the markets we serve through focusing on maximizing revenues and prudently managing expenses, now is the perfect time to bring our services to market, especially with so many multifamily owners struggling to navigate today s changing economic headwinds. We look forward to executing our game plan and delivering exceptional returns for our managed portfolio clients.
Noel Management will begin onboarding managed communities starting in March. Management services will include operations, maintenance, employee development and training, customer service, revenue management, marketing, budgeting, leasing, and resident retention. More information is available at www.NoelManagement.com