CRM Residential

CRM Residential and our dedicated Regional Managers and Community Managers have just wrapped up an enriching experience at the 2024 JAHMA Spring Management Event!   Over the past two days at The Borgata, Our team has engaged with hundreds of fellow affordable housing professionals from New Jersey, delving into insightful discussions, forging valuable connections, and gaining inspiration for the road ahead.   A special thanks to JAHMA for organizing this impactful event, and to the vendors who provided invaluable resources tailored to our industry.

CRM Residential Operations and Accounting Training led by CEO Sam Rotter. On the 10th of April 2024, CRM Residential hosted a training session aimed at enhancing the skills of our Regional Managers and Community Managers as well as senior accounting staff. The session provided participants with invaluable insights into effective financial strategies and best practices. Held at the Conner Strong headquarters, the training brought together residential operations and accounting staff all eager to sharpen their abilities and contribute meaningfully to the improvement of operational processes and reporting. CRM’s CEO, Sam Rotter, personally spearheaded the session, imparting wisdom gleaned from years of experience in the industry along with VP of Compliance, Monique Strickland and Angie Bell, RealPage Systems Administrator, Steve Gould, Director of Maintenance, and Bernardo Coles, Executive Vice President. During the intensive training, participants delved into a wide array of topics including improving the end of month closing procedures, resident balances and the interplay of these critical areas on reporting. Sam Rotter emphasized the importance of understanding best practices and incorporating them into everyone’s daily tasks. He underscored CRM's unwavering commitment to providing community managers with the tools and knowledge needed to excel in their roles and make a positive impact on the lives of residents and improve property performance and provided a glimpse into future initiatives. Training is the cornerstone of the new CRM as we forge our path forward and celebrate our 50th anniversary.

We're thrilled to announce the next phase of our revitalization efforts at 801 Residence - a 300-unit senior low-income housing property in Philadelphia, PA. Last week, we closed on tax credit financing for a subset of the units, marking a significant milestone for the project. Renovations will kick off soon, with an estimated construction period of around 12 months.   HVPG acquired the property in November 2021, and we’re now gearing up for a comprehensive $15M upgrade initiative as part of our broader $153M investment in the property (total project costs). These upgrades will encompass a wide array of enhancements, including in-unit bathroom and kitchen replacements, ADA accessibility upgrades, lobby and community room renovations, life safety improvements, building system upgrades, and the installation of a new intercom and security camera system throughout the site.   We have also secured long-term affordability for residents with a HUD project-based Section 8 HAP contract and LIHTC restrictions. Qualified tenants will continue to pay no more than 30% of their annual income in rent, and no one will be displaced due to these improvements.   We couldn't have reached this milestone without the support of our incredible partners. A huge thank you to Ready Capital, PNC, U.S. Department of Housing and Urban Development, and our agency financing partners: Pennsylvania Housing Finance Agency  (PHFA), Philadelphia Housing Development Corporation (PHDC), and PIDC.   We’re eager to provide tenants with a safe, secure residential community that they’re proud to call home. Stay tuned for updates as we embark on the next phase of this project! #AffordableHousing #CommunityDevelopment

Attended the groundbreaking of JMB Gardens which when completed in 2025 will consist of 41 affordable townhomes located in Harrisburg, PA. CRM Residential is pleased to partner with Vice Capital as their Managing Agent. Vice Capital’s principal is Shady McCoy who has committed to investing in his hometown.

Happy International Women's Day!

Spotlight: VETERANS VILLAGE We are pleased to announce that Veterans Village has received recognition on Fox29 News for their commendable efforts in offering housing assistance to veterans in Philadelphia. This is a great achievement and a testament to the hard work and dedication of our team. Congratulations to Lateefah Brunson, the Community Manager, and her dedicated staff for their outstanding work. Let's continue to support and uplift our veterans in any way we can. Please go to the link to see the story. https://lnkd.in/erjexdXG

CRM Residential Announces New CEO, Sam Rotter, to Lead a Future of Service Excellence Pleasantville, NJ, February 20, 2024 – CRM Residential, a leading full-service property management company, proudly announces the appointment of Samuel Rotter as its Chief Executive Officer (CEO), marking a significant milestone as the company celebrates its 50th anniversary this year. Embracing the philosophy of property management as a partnership, Rotter recognizes that thinking like an owner is pivotal for the success of CRM Residential and its partners. Founded in 1974, CRM Residential has been a cornerstone in property management, overseeing nearly 90 communities, managing 9,000 apartments, and serving over 20,000 residents. As the company ventures into its 50th year, Sam Rotter’s appointment signifies a transformative moment for CRM Residential. The seasoned executive and CPA, with a distinguished tenure as COO/CFO at MMS Group, the Philadelphia Housing Authority, and prior experience as the Chief Financial Officer for prominent local and national commercial and residential developers, Rotter brings financial and operational acumen to guide CRM Residential towards a future that seamlessly integrates technology and customer service. “Our legacy of serving our communities and investors for five decades is a testament to our dedication to the preservation of affordable housing and our commitment to properly maintaining our residents’ homes,” stated Rotter, the newly appointed CEO. “While we take pride in our past, our focus is now on the future. We are not just a property management company, but an organization committed to the success of our employees, partners, and those who live in our communities. Our commitment to service excellence will be the hallmark of the new CRM Residential.” Jonathan Morris, Chairman of CRM Residential, added, “Sam Rotter's appointment as CEO represents an inspiring milestone in CRM Residential's journey. With a wealth of knowledge and leadership, Rotter is poised to steer CRM Residential into a new era of service excellence. His addition to our already strong leadership team and dedicated group of employees reaffirms our focus on innovation and continuous improvement.” In line with this commitment, CRM Residential aims to build upon the values that the company was founded on 50 years ago. With a diverse portfolio spanning the Northeast, Midwest, and U.S. Virgin Islands and Sam Rotter at the helm, CRM Residential invites residents, partners, and communities to join them on this journey of embracing technology and maximizing service excellence. For media inquiries, please contact Maria Swann at marias@sagefrog.com