Who We Are | Philosophy | Credentials & Awards
Financial Reporting & Controls

Who We Are

TRS was formed in 1990 and our first clients were four of the buildings in Tudor City.  Since then, we've grown to over eighty clients owning real estate throughout the New York metropolitan area.  Our clients include co-ops, condos, cond-ops, institutional owners, and private investors. We manage thousands of units in buildings that contain as few as 21 and as many as 799 units, and there is a broad range in staffing and amenities available in these buildings.  Our staff of thirty is headquartered in the Gramercy Park section of New York City, and is built around a unique team approach to client service. Our success is evident in the fact that many prospective clients are referred to us by satisfied clients. References are, of course, available on request.

Philosophy

All TRS employees understand and believe that good management requires commitment.  Only through total involvement can we be sure that our clients’ buildings operate as efficiently and effectively as possible.  Building agents are assigned no more than seven or eight buildings each, enabling the agents to visit their buildings often – at least once a week.  In this respect and others, we manage a building as if we own it.  We treat each expenditure as if it were coming directly from our pockets.  We don’t spend money just to make our job easier, but always look for the long-term benefit to the corporation.

The most unique aspect of the way TRS manages is our team approach.  While your building will be assigned a specific agent who will be the person with day-to-day responsibility for managing your building, the three principals of the firm will be completely involved.  For instance, our agents take the minutes of all board meetings (which agents must attend) and have those minutes on the principals’ desks within twenty-four hours.  The principals use these minutes to monitor the activities of the agent between board meetings.  The principals also attend several board meetings each year, particularly when there is an issue where one of them can lend a special expertise – budgeting, financial controls, staffing, building systems, or major capital improvements.

Our management portfolio includes over 7,000 units in buildings throughout New York with from 21 to 799 apartments.  We have managed over $50 million of major capital repairs, including the installation of new boilers and burners, electrical upgrades, extensive exterior repairs, new sidewalks, new water tanks, hallway and lobby renovations, etc.  Our Director of Operations has special expertise in building systems and construction projects and he is available to help an agent whenever special projects are ongoing.

Our team approach to management has not gone unrecognized.  Six of us have been awarded Management Achievement Awards by Habitat Magazine in the last several years.  The 1990 and 1993 awards to Mary Frances Shaughnessy in Crisis management recognize the special skills and experience TRS can bring to co-ops now and as we move into the 21st century.

For more information, see The Principals page.

We provide financial information reports to our buildings each month using proprietary accounting software that has been customized to fulfill our requirements as well as those of our clients. We believe that we are uniquely able to provide the immediate and accurate information a Board of Directors needs to properly direct the Corporation.

One of the distinctive features of our monthly report is that we always include a copy of the bank statement for your account, as well as a reconciliation of that statement, and all of our reports tie in to that reconciliation.  We have found that most management companies do not provide this information – without which a Board of Directors and its accountant lack an important monitoring tool.  Our reports provide both cash and accrual information.

The principals closely monitor the activities of all agents and staff personnel. We have implemented a strict corporate code of ethics. We value our good name and focus our efforts on preserving it.

For more information, see our Financial Reporting Overview.

© 2000-2002 Tudor Realty Services Corp. All rights reserved.