Investment in Living.
A Personal Touch in Property Management
Ludwig and Company is a full service property management company specializing in the management of rental apartment communities throughout Illinois. Our portfolio includes luxury, market, independent senior living, affordable tax credit, and government subsidized multi-family residences Throughout the past 30 years, we have achieved great success in our business by working diligently to exceed the expectations of our clients and residents through outstanding customer service, accurate and timely financial reporting, consistent and frequent communication with our clients and residents, and quality maintenance to enhance the property value of our clients’ assets
Ludwig and Company takes great pride in all of our communities, and will manage your asset as if it were our own, paying close attention to the details and developing a specialized management strategy to achieve the goals set for each community. The services and advice that we will offer to you as our client will be based on over 30 years of experience in the industry and the individual expertise of our management team in the areas of operations, maintenance, compliance and financial reporting.
Partnering with Our Clients
Ludwig and Company specializes in the management of Affordable Tax Credit properties. Our services include assisting our owners with the proper due diligence and documentation necessary to submit a tax credit application to the Illinois Housing and Development Authority (IHDA) or other applicable state housing authority. Once the tax credit application is accepted and approved by the Housing Authority, we work closely with our owners to provide the required second round of documentation in order to close on the financing and break ground on the new project. During pre- construction, and each building phase, our management team attends construction meetings with our client, architects, builders, and city officials to lend our expertise on what building amenities work well for our residents based on our experience in managing similar types of developments. We believe in partnering up with our clients from the beginning of each new project, rather than joining the team post-construction to do the lease up. Once under lease-up, our management team will monitor operations to assure that budget and debt ratio requirements set for the development are met.
Experienced Compliance Department
The Compliance Department at Ludwig and Company has vast experience in leasing up and managing the documentation and reporting requirements of tax credit and government subsidized properties. We have systems and procedures in place to safeguard our clients’ tax credits, and in turn, to safeguard and protect our clients’ assets. We assure our clients that residents are properly certified Documentation is neatly organized and easily accessible for lease file inspections performed by government agencies, investors, and syndicators Government reporting is completed timely and accurately. We are in constant communication with our developments’ assigned government representatives to assure that nothing falls through the cracks or is misinterpreted.
Meticulous Financial Records
Standardized accounting procedures have been set up for each of our developments in accordance with Generally Accepted Accounting Principles (GAAP). Our Chief Financial Officer comes to Ludwig with a background in public accountin. She has drawn upon this experience to set up proper procedures in the collection and recording of rents and preparation of vendor payments. Our monthly financial reporting mirrors that of a public accounting firm in accuracy and presentation. Clients can be confident that the monthly financial reports are correct and properly represent the current financial position of their asset. We take great pride in providing complete and meticulously kept financial records to outside auditors at year end. In doing so, we are able to minimize the cost of the audit and the completion timeline.
Facilities Management Oversight
All major maintenance projects and capital improvements are supervised by the Facilities Management Team, headed up by our Director of Facilities Management, Tom Wojtas. A Regional Maintenance Manager is assigned to each property to oversee the progress of every major project, in addition to supervising and mentoring the on-site maintenance team on a day to day basis. He also contributes to the annual budgeting process for each community in his portfolio by recommending needed projects and improvements for the upcoming year. The Director of Facilities Management along with the Regional Maintenance Manager gather bids to provide the Executive Board and our clients with alternatives regarding needed repairs and capital improvements.
Many times this includes our Director of Facilities Management, Tom Wojtas, who has extensive experience in preparing for government REAC inspections. Tom prepares and implements a plan to complete the necessary repairs and improvements to earn an above average REAC inspection score.
Ludwig and Company provides our clients with management that includes the long time expertise of our Executive Board and Directors along with the commitment and enthusiasm of our onsite team. We can assure our clients that their property has the right onsite team providing their residents with excellent customer service, who are guided by the consistent supervision of our in-house experts, the Directors and Regional Management Team.