Elevating Residential Property Management Through Elite Service

Discover the human-centric approach innovating New York City’s property management market

 

MD Squared is considered to be one of the most influential companies in New York City’s residential property management sector.

Under the leadership of its CEO and founder, Michael Mintz, the company has carved a distinctive niche in the competitive New York City residential property management landscape.

The company’s supportive culture and strategic innovation have massively amplified its expansion and surely lie at the center of its future success.

To achieve that future success, the company’s leadership has devised a focused strategy centered on transparent operations, personable partnerships, and leveraging technology where it makes sense.

The strategy also involves a growing focus on the high-end, boutique property market, which presents a significant avenue for expansion and brand elevation.

By honing specialized expertise and service models tailored to elite clientele, MD Squared will be able to establish itself as a premier provider in an underserved yet highly reputable sector.

Of course, MD Squared’s continued investment in its team remains paramount to this strategy.

The company’s refined talent acquisition strategies aren’t designed to just attract individuals aligned with its culture but to retain them as well. So, providing clear pathways for professional development and growth has been crucial for long-term retention and sustained quality service.

Further optimization of the company’s technology infrastructure, especially the integration of AI-driven solutions, has empowered its team; however, MD Squared ensures that its operations remain human-driven at its core.

After all, it’s the human element that elevates client experiences. So, consistent evaluation and adaptation of its operational processes, informed by employee feedback and industry best practices, have done well to ensure continued agility and responsiveness.

When all of the above is combined, MD Squared has earned a reputation as a recognized leader in the New York City residential property management market, particularly distinguished for its exceptional service.

Its high-end services are reflected in its growing portfolio of prestigious properties, a highly engaged and tenured team, and a culture of innovation and client satisfaction.

A Culture of Support and Service from Inception to Growth

Established in September 2014 by CEO Michael Mintz and two initial partners, MD Squared’s journey began with momentum that it has maintained to this day.

“We hit the ground running and immediately started looking to find new clients… we had our first client by October 2014,” Mintz says. Beginning with smaller rental buildings, the company then expanded its portfolio to include condo and co-op management, now boasting a significant presence in the co-op sector.

The first assistant property manager joined within two years, followed by the recruitment of property managers, accountants, financial analysts, and administrative staff. The company was off to an incredible start!

A notable milestone was reached around 2018, when MD Squared surpassed 50 managed buildings, and further solidified its growth trajectory by managing its first 100-plus unit building in 2021.

The company’s growth reflects a deliberate approach to building a strong and capable organization, and the cornerstone of its capability is undoubtedly its company culture.

MD Squared strongly prioritizes creating a warm and supportive atmosphere for its employees.

Recognizing that property management can be a demanding field, the company emphasizes open communication, collaborative problem-solving, and mutual support when challenges arise.

“We believe in acknowledging the mistakes that happen and then having the whole team come together to try to resolve them. We run on a system called EOS, the Entrepreneurial Operating System,” Mintz explains.

Embracing the EOS, MD Squared conducts structured weekly meetings that facilitate the identification, discussion, and resolution of issues. This framework creates a culture where employees feel comfortable acknowledging challenges and seeking support.

However, beyond the professional sphere, MD Squared actively promotes camaraderie through intramural sports, social events, and weekly in-office lunches.

“We really try to do whatever we can to create a collegial atmosphere. This business, in general, is a tough enough business to start with… so we believe that we need to make the effort to try to make the environment and culture better for our employees, so that ultimately, they can minimize the impact of the stress that comes from the external elements,” Mintz says.

Things like allowing dogs in the office and providing comfortable meeting spaces are commonplace and further contribute to MD Squared’s relaxed and positive work environment.

And while the company is known for its warm culture, its most distinguishing aspect is the thorough, transparent, and technologically savvy structure of its internal operations.

“We run on EOS, so we’re a much more structured and disciplined company than many other property management companies out there,” Mintz says, affirming that by implementing EOS, MD Squared is able to organize and prioritize much better, relative to its competitors.

The use of Appfolio and Monday.com as property management platforms and task management platforms, respectively, further enhances transparency, allowing managers to track progress, prioritize tasks with clear deadlines, and keep clients informed.

Additionally, recognizing that property management inherently involves personal interactions, the company leverages technology to enhance communication and efficiency without sacrificing the crucial human touch that residents value.

“We try to find a nice balance between technology and people. This business will always be human. These are people’s homes, and they want a human touch point, not an automated one,” Mintz clarifies.

This blend of personalized service and technological tools allows property managers to perform at their best while ensuring residents feel cared for and connected.

Internal Innovations and External Integrations

MD Squared not only embraces but proactively innovates with its technological advancements, particularly in artificial intelligence.

“We’ve been using AI now for about two years within the company. About a month ago, we created the position of Director of Technology and Innovation. So, we have someone whose full-time job is to figure out how we can implement better technologies, especially on the AI side, to create more efficient processes and automate more of the behind-the-scenes functions,” Mintz explains.

Complementing this, a full-time software developer on the team focuses on creating tailored solutions for specific pain points, with a strategy of incremental deployment leading to more comprehensive system-wide improvements.

This agile approach demonstrates MD Squared’s forward-thinking approach to operational efficiency in an evolving technological landscape.

While some competitors may focus on replacing human roles with technology, MD Squared’s emphasis remains on augmenting its team’s capabilities. This ultimately enhances both the employee and client experience while preserving the essential personal touch.

Fortunately, MD Squared doesn’t limit that personal touch to just its clients; it extends to its procurement partners and the larger community as well.

“We generally don’t centralize procurement… we leave that up to our individual property managers,” Mintz says

However, for bulk purchases of common items like gas detectors, smoke detector replacements, winter salting supplies, and composting bins, the company adopts a centralized approach to leverage economies of scale and secure cost savings for its clients.

While specific vendors are not centrally mandated, MD Squared emphasizes the importance of establishing price lists with reliable suppliers.

More importantly, the company fosters a culture of strong, direct relationships between its property managers and vendors.

“It’s about the volume of business, but it’s also about the relationship vendors have with you. So, we strongly believe that it’s important for managers to create direct and personal relationships with vendors,” Mintz says.

As a company-wide practice, MD Squared encourages open communication and personal connections. These are crucial factors in facilitating better service and responsiveness, particularly in a competitive market like New York City, where vendor bandwidth can be limited.

This is why the company also supports an open-door policy for vendors to meet with property managers in the office, further underscoring the value placed on these partnerships.

Navigating Social Responsibility, Challenges, and Future Growth

Beyond its core business operations, MD Squared actively engages with the communities it serves, demonstrating a commitment to community and local partnerships.

The company is politically active in advocating for legislation that aligns the interests of tenants, landlords, and other stakeholders.

Mintz and other team members serve on the boards of various non-profit organizations, including the Jewish Board and the Riverside Park Conservancy, contributing their time and expertise to community initiatives.

MD Squared also leverages its network and resources to support community projects, such as facilitating pro bono architectural services for park improvements.

Furthermore, the company actively participates in internship programs, providing opportunities for students.

“Every summer, we have five or six interns. The city has a program where they take kids from around the city and put them into companies for internships. We participate in that most summers. We really try to, where we can, get involved and give back to the community and help the people we’re working and living with,” Mintz explains.

Looking ahead, MD Squared envisions continued growth, particularly in the management of high-end, boutique properties.

Recognizing a potentially underserved segment of the market, the company is developing a specialized elite unit focused on providing exceptional, personalized service to residents in these exclusive buildings.

“We’re continuing to build out that elite unit within MD Squared that is going to manage those extremely high-end buildings and manage them not just from an administrative side, but also from a relationship side,” Mintz confirms.

This strategic focus not only caters to a specific market need but also creates internal growth opportunities for MD Squared’s team members, allowing them to advance their careers within the company by specializing in luxury property management.

MD Squared’s journey over the past decade reflects a steadfast commitment to its core values of culture, technology, and service excellence.

Its human-centric approach, coupled with a forward-thinking embrace of technology, elevates the experience for both its employees and clients and solidifies its standing as a leader in the industry.

MD Squared isn’t just managing properties; it’s crafting exceptional living experiences and setting a new standard for residential management in the city and beyond.

It stands squarely as the trusted partner for discerning property owners and residents alike.

AT A GLANCE

Who: MD Squared

What: A leading residential property management firm

Where: Based in New York City, MD Squared manages a diverse and growing portfolio of properties across the five boroughs

Website: www.mdsquaredpropertygroup.com