Carib Management, Inc. and Carib Maintenance Corporation

History

Carib Management, Inc. has been doing business as a property management company in South Florida since 1979. It specializes in the management of affordable housing developments. Carib Maintenance Company was formed in April 2000 as a subsidiary of Carib Management, Inc. Greater Miami Neighborhoods, Inc., a non-profit organization, owns 100% of the Carib Companies' stock.

Services

The operating philosophy for the Carib Companies is to enhance owner equity for maximum appreciation, while keeping operating costs down to provide maximum revenue. Although rents in government-assisted housing are capped by regulatory limits and market conditions, property preservation and operating costs can be controlled by effective property management and maintenance skills. The goal of the Carib Companies is to provide an effective and responsive service to its property owners on a cost efficient basis, while maintaining a high standard of housing for residents that is consistent with available resources.

The Carib Companies provide a full range of property management and maintenance services for the properties it manages. This includes resident selection, rent collection, evictions, purchasing, contracting for services, and routine, preventive and emergency maintenance services. The Carib Companies have a strong working relationship with the community service agencies that assist residents.

Since rents in some of the developments are federally subsidized, there are substantial reporting requirements. The Carib Companies have computerized these reporting requirements and other parts of the operations. They have experience with the following affordable housing programs: Low Income Housing Tax Credits, Federal Home Loan Bank AHP Program, HUD Project Based Section 8, Miami-Dade County Surtax Program, Federal HOME and CDBG Programs, State Apartment Incentive Loan Program (SAIL), State and Local Bond Programs including 501(c)(3) bonds. Working with these various programs over many years has given the Carib Companies an expertise in dealing with government agencies and their special reporting and record keeping requirements.

List of Communities