Furnished Dwellings uses Oscar 4 to accelerate and manage rapid growth of their asset and property management company
Furnished Dwellings has recently entered the furnished corporate housing market in New York City. The company provides its customers with high quality corporate housing, furnished apartments, and short term rentals. In addition to their corporate clientele, residents between a property sale and a close are also offered accommodations. In what seems like a New York minute, Furnished Dwellings is quickly emerging as one of the most trusted housing companies in the city. The companies' visionaries Abraham Kassin and Morris Sabbagh, President and Vice President respectively, both have extensive backgrounds in asset acquisition and management. The formation of the company has also fueled and provided ownership with a natural progression into brokering.
Challenge: Managing Vendor Relationships and Rapid Growth
Maintaining accurate and timely payment and receivable schedules during a period of accelerated growth can be demanding. This is particularly challenging when one of the primary objectives is to acquire additional housing units while demand is at a peek. In the early stages of the company Abraham and Morris were using a variety of ad-hoc methods from Excel sheets, scribbles and mental notes to capture the operations aspects of their hectic day to day operations. The company needed a comprehensive but easy to navigate accounting and reservation system that would free up time to locate and acquire additional properties to match consumer demand.
Solution: Consolidation of Business Processes
Abraham had previewed Oscar 4 while working for another management company and remembered that "it could be fined tuned to fit every need." Now, with an ownership perspective and the acquisition of apartments moving quickly, obtaining unit profitability reports and invoicing became paramount. The ability to customize most every option of the reservations, units and tasks in Oscar 4 was pivotal in Abraham's decision to implement the software. The company was also able to eliminate the manual and tedious AP/AR processes that often consume valuable company resources.
Benefits: Time Savings to Pursue Business Development
While Furnished Dwellings is continually seeking ways to grow and improve efficiencies one of their most valuable assets is time. Oscar 4 allows them to focus on acquiring units and properties to position themselves as an industry leader in one of the most competitive markets in the country. New York is one of the fastest moving cities in the world and meeting customers temporary house needs was significantly streamlined with Oscar 4. With phones ringing constantly the Furnished Dwellings team can more readily focus on developing their brand and exceeding customer expectations. For information about Furnished Dwellings visit www.furnisheddwellings.com.