VareCo brings a competitive advantage to all of our properties through our vertically integrated platform through our in-house property management and construction divisions. Holding these cross-functional competencies in-house enables our speed-to-execution and reduces overall project costs. Driving our results from start to finish.
LivLavender property management is a wholly owned subsidiary of VareCo that has turned and leased over 3,000 Value-add units above pro forma since 2013. VareCo believes the best way to have its property management team aligned with the motivations of its investors is to have property management in-house. Most third party property managers are motivated to grow their bottom line. In contrast, VareCo’s team is motivated to grow NOI (Net Operating Income) and maximize each property’s potential.
We recognize that property management can be the main factor in Poor NOI. The ability to align interest with our property management team allows us to increase the speed of leasing buildings, lowers our overall expenses and helps us to drive NOI at every single property we own.
Our LivLavender team defines a clear advantage in the market and allows us to:
- Stabilize buildings faster and higher than market rates
- Reduce maintenance costs and labor response time
- Align interest with the team to grow NOI and investor distributions
Our construction management team has over 50+ years of combined experience covering every trade needed to execute any multi-family and single-family remodel. Finding skilled labor continues to be the bottleneck in today’s construction industry. Our construction team is also fluent in Spanish which gives it a significant advantage in attracting, retaining, and strengthening its relationships in the labor force. Our team also manages VareCo’s warehouse which stores all of our building and maintenance materials.
By not having to compete with other projects and continuously source subcontractors, our construction division can:
- Decrease rehab costs typically 25-50% below market
- Complete projects faster with consistent remodeling specifications
- Operate VareCo’s warehouse to mitigate supply chain delays and buy materials at wholesale prices
At VareCo, we believe that all successful projects start with upfront, accurate underwriting followed by the ability to align our business plan with decision-making in the field. Our motto is “Every hour that we spend upfront in due diligence saves 3 hours during construction.” By bringing our construction division and property management division in-house, we are able to drive VareCo’s efficiency, mitigate risks and stabilize our properties quicker than our competitors. While also bringing safe, affordable and clean properties to the residents of Denver and Des Moines who live at our properties.