"Over the past year, we've bought more assets," Paneralcomments. "With that expansion in our portfolio, we thought itwould be better to bring operations in house."

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Paneral came to Concierge a year ago from Alliance Residential.Her job since then involved building the appropriate softwareinfrastructure and platform to efficiently manage Concierge'sportfolio, which contains properties in California and Texas. "Withthird-party management, you don't necessarily have the policies andprocedures or software in place to run things in house," Paneralcomments.

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Concierge, headquartered jointly in Tiburon, CA and Houstonrecently bought the 320-unit El Dorado Ranch in Webster, TX. In aninterview withGlobeSt.com at the time, company CEO Ted Kerr indicated thecurrent environment is a good one for Concierge to continueacquiring and repositioning class B and C distressed assets.

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"We're seeing some great rent growth in our repositioningstrategies," Paneral adds. She says repositioning of an assetinvolves evaluating the current resident base and trying to improvethe clientele both by revising qualifying criteria for applicantsand rent increases. Physical upgrades can also be involved, such asimproving on-site amenities.

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"We've worked with some wonderful management companies, butConcierge has its own vision of service and hospitality," Paneralcomments. "By bringing this in house, and with our own software, wecan really watch what's happening and respond to on a day-to-daybasis." Concierge's property management division includes propertysupervisors Paula Daniels, Shelly Price-Zepeda and Melanie Traster,and Beth Ackerman-Orenals, director of education.

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