2020 Year in Review

Spinnaker Owner,

Thank you for trusting us with your property assets in 2020. We remain grateful for our relationship with every one of you and strive to uncover how to represent you and your assets in the best way we can. 

COVID 19: All of Our Strengths at Play
There is an old saying that “adversity breeds opportunity”. We may risk projecting misplaced positivity, (we are in a worldwide pandemic after all) but we succeeded during COVID and continue to.  Though the pandemic has struck so many so hard, with both owners and renters trying to make ends meet when incomes were shrinking, and no assistance was in sight. Our network of local community-based assistance partners came into play strong than ever. Some of the programs that supplied the most help to renters were:

  1. Share and Care House
  2. Wellspring
  3. Helping Hand House
  4. LASA -Living Access Support Alliance
  5. Catholic Community Services
  6. Exodus Housing
  7. Pierce County Human Services
  8. Associated Ministries

We also educated you, the owner to raise your awareness on what assistance was available so you could see where renters were seeking the help they needed. To Date, our tenants have received over $100,000 in assistance through the COVID-19 pandemic. 

What we did to address the pandemic funds shortage:

  1. We connected people with help in the community. We received more then $100,000 is assistance funds. This support helped keep our delinquency rate at 2%.
  2. We kept lines of communications with owners and tenants wide open and when tenants could not or would not communicate with us, we sent help via local community organizations. 
  3. We remained positive, took all the recommended safety precautions, and worked business as usual, to the best of our ability, working in the office and remotely when necessary. We stared conducting meetings on-line and closed our office to the public. 

The Rent Volume Sustained
We expected a short fall, and there was some of that in rent, but predominantly we maintained rent flow of a regularly scheduled intervals due to the assistance programs available to our renters. 

2020 was an unprecedented time for all, us included. We can only hope it has made us better businesspeople and humans. We hope that in the crisis we remain approachable – that is our goal. Let us know how we can help you continue to succeed until we all say goodbye to this challenge. 

Looking Ahead to 2021

Now that we have looked back, we would like to take a moment to look forward onto 2021. We will continue to adapt and change where necessary. We frequently look back to our mission statement so we may be reminded of our guiding principles. We thought we would share our mission statement with you all as we look hopeful to the future. Happy New year to you and yours. 

Spinnaker Property Management Mission Statement

To provide enjoyable housing, support owners investments, provide quality management both physical and financially to owners, so they experience peace of mind. 

Kindly and Gratefully,
Mark Melsness
Property Manager, Designated Broker
Spinnaker Property Management

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