Colorado

ASSOCIATION MANAGEMENT

WRMC offers tailored and specialized property management services to meet Colorado’s unique needs (and the rules and regulations). Our proven history of expertise serving condominium, high-rise, and master-planned communities, combined with our team of highly trained professionals, allows us greater flexibility in developing the specialized services you need.

MIXED USE MANAGEMENT

Mixed-Use projects are multi-use, complex regimes often found within dense urban areas and include a mix of residential, retail, commercial, and other public spaces. We’ve had the pleasure of managing a wide array of mixed-use projects as they have become increasingly popular over the last decade.

MULTI-FAMILY MANAGEMENT

Our Colorado expertise doesn’t end with association management. More and more multi-family operators exist across the state. We know that they are looking for a competitive edge and condominium-style service for their assets. If that’s you, we can provide professional management for your existing asset, help you in gearing up for a lease-up, or provide expert consultations on creating a marketing and development strategy. Our individualized approach brings value and enhanced services while maximizing your return.

PROPERTY MANAGEMENT : ACCOUNTING & FINANCIAL MANAGEMENT

From CPAs to MSAs, our accounting department is unmatched in the industry. Our Property Accountants are dedicated to you to provide fiscal responsibility and complete accessibility. We provide accurate, timely, and meaningful financial information every month. Our team of experts analyzes your association’s financial position to help identify cost-saving opportunities and streamline expenses.

COMMUNITY DEVELOPMENT (DEVELOPER) SERVICES

We love the growth we see in Colorado. However, developing communities have a unique set of needs requiring them to balance owner satisfaction alongside business objectives. Our Developer Services Group understands the importance of building a strong foundation and navigating through the process from pre-construction to transition. We’re here to guide you through the process, beginning with document review, budget preparation, cash flow analysis, recruiting, and more. Our goal is to provide you with peace of mind knowing that we handle association matters professionally, saving you time and money.

TRAINING AND EDUCATION

Our goal is to bring innovative topics, industry-leading best practices, continuing education, and value-added seminars to our Colorado clients. WRMC is equally invested and committed to the long-term success of the communities we’re proud to serve, and with that comes a unique and exciting program available to our clients – Worth Ross Master Speaker Series.  The Speaker Series is our exclusive Board Member training event designed to educate boards and managers on the topics that help build their knowledge and better equip them in fulfilling their roles. We partner with industry experts to give in-depth training coupled with comprehensive discussions unique to your community, city, and state that will better prepare you for the challenges ahead.

AREAS SERVED

Denver

Aurora

Success in “Colorful Colorado”

Case Study: Building Operations

Background and Challenge:

Worth Ross Management Company expanded operations into Colorado in 2019. Candlewyck Condominiums, our first partner in Colorado, is a high-rise community consisting of two 16 story towers, 238-units, and a clubhouse situated on more than 7 acres of property. Amenities include a fitness center, billiards room, hot tub, dry and wet sauna, indoor swimming pool, salon with a full kitchen, receptionist, and General Manager’s office. Upon starting our partnership, the community was beginning a $12MM capital improvement project that included roof replacements, parking deck resurfacing, replacement of all four elevator cabs, and full exterior edifice repair and paint project on both towers and the clubhouse.

Managing any one of these projects was quite the task but managing them all at the same time required expertise and experience. As with any capital improvement project, there are unforeseen circumstances that need to be addressed swiftly. Complicating issues included building asbestos in all the ceilings and walls in the units that had to be mitigated. As part of the roof replacement project, the city required that all top floor units in both towers and the ceiling in the entire clubhouse would need asbestos remediation. Also, they required the installation of a davit system on both towers, further complicating things and putting a strain on the forecasted expense. Coupling these challenges with severe disruption to the community and the residents alike put WRMC in the spotlight to execute effectively from our first day on the property.

Action and Outcome:

Fortunately, the Board of Directors was supportive of WRMC’s efforts to improve the building’s wellbeing. While the primary focus had to be on the $12 million worth of projects, we also had an obligation to oversee the community’s day-to-day operations. As is typical when WRMC begins managing a new property with these issues, we encountered challenges in various operational areas, making our role more challenging. After a few months of dedicated support and oversight, we were able to identify several new team members, and things began moving more cohesively. Over the next ten months, we worked tirelessly to manage the day-to-day operations in conjunction with the capital improvement projects to ensure no stone was left unturned and all deliverables were being met. These efforts have changed Candlewyck for the better, and the residents and Board unanimously believe partnering with WRMC was the best decision the community has made. WRMC’s Regional Director of Colorado focused on significant projects, and Candlewyck’s General Manager led the efforts of gathering information regarding project management, resident, and board relations.

Word traveled fast throughout Colorado, with residents and Board members alike singing praises of our management style and professionalism with such a complex set of projects. Our footprint in Colorado has continued to expand, and we cherish the relationship built through our hard work and dedication to the owners of Candlewyck.