THE MAGAZINE FOR PROFESSIONALS

How one real estate investment company finds paint pros for multifamily work

Meghann Finn Sepulveda

Growth Through DiversificationFor more than 20 years, Ohio-based The Millennia Companies has been building, acquiring, managing and renovating multifamily housing projects. Starting with a 566-unit portfolio in the mid-’90s, the enterprise now manages 20,000 multifamily units across 22 states.

The process for how Millennia hires contractors has evolved over time, yet it has remained a contributor to the overall success of the business. When it comes to painters, specifically, company officials say they know exactly where to go to find their guys.

RENOVATION WITH THE BEST TRADESMEN

After each acquisition, The Millennia Companies looks to its general contractor American Preservation Builders. LLC, a Millennia affiliate, to renovate and restore the property, often refreshing, modernizing and bringing each apartment unit up to code.

The contractor relies on local industry trades, including painting pros, to assist in completing each renovation project, which can range in cost from $100,000 to $20 million. To hire the right crew for the job, it turns to national paint supplier Sherwin-Williams for trusted recommendations.

“They give us a list of four or five preferred painting subcontractors in the area who are experienced and affordable, but it’s ultimately our job to make the connection, interview, and hire the best and most qualified pros,” explained Steve Chappuies, VP of construction for American Preservation Builders.

When interviewing pros, Chappuies looks for skill, effective communication, and an ability to interact well with residents. He also wants a pro who can maintain the right crew size, and who pay bills on time from paint-store purchases.

“I’ll call these individuals and ask if there is any interest and determine availability,” he said. “The needs of the project, combined with finding the right fit for the job, ultimately determines our selection.”

 

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