In 2010, Marfuggi's firm achieved a 12% reduction in variable operating expense; the projection for 2011 is a further drop of 10%.
Houston, TX (PRWEB) February 22, 2011
Jim Marfuggi, CEO of Texas property management company NOI Capital Partners, will be the featured guest on Kevin Price's CBS radio talk show, "The Price of Business", this Wednesday, February 23rd at 11:00 AM CST.
Mr. Marfuggi, a 20-year multifamily industry veteran who has operated more than $3 billion in assets, looks forward to discussing NOI's initiatives to re-engineer the work of property management. NOI is shifting functions among on-site staff, corporate staff, and third-party providers. Marfuggi believes these changes already helped raise clients’ average net operating income last year by a full 13.2%. He expects further benefits in 2011.
The first objective of NOI’s re-engineering is to allow corporate-level executives to focus more time on improving the asset’s financial performance, and less time on routine administration and financial reporting. Second, the changes reduce property operating costs. In 2010, Marfuggi's firm achieved a 12% reduction in variable operating expense; the projection for 2011 is a further drop of 10%.
In addition, Marfuggi will offer his own 2011 Texas apartment market forecast, which diverges somewhat from the majority view. “Multifamily performance in Texas is fraught with employment-related uncertainties. Owners should keep a close eye on job growth and the effect of rent increases on resident retention, and should be prepared to change strategy quickly.”
NOI Capital Partners specializes in property management in Houston, Dallas, San Antonio, and Austin, along with selected tertiary markets in Texas. The firm currently manages more than 4,000 apartment units. They include A-and-B-class properties, including newly-built lease-ups, and C-to-B-minus-class assets that are being renovated and repositioned. The firm is often sought to tackle underperforming assets.
CBS radio show “The Price of Business” is the longest-running CBS show in Houston. Its host, Kevin Price, is a business journalist whose columns appear regularly at USAToday.com, and ChicagoSunTimes.com. He is the publisher of the Houston Business Review, and the author of several books, including “Empowerment of People”. Mr. Marfuggi will be making his first radio appearance with Mr. Price.
For more information about NOI Capital Partners and its Texas property management services, visit http://www.noiamerica.com, email firstname.lastname@example.org, or call 210-568-0469.