In 1969, Alexander/Davis Properties, Inc., the forerunner of First Management Services, was formed. Its purpose was to use the experience and abilities of the organizers to establish a professional property management company and to actively engage in the acquisition, development and/or ownership of multi-family housing and commercial properties. The original account was a 200-unit property.
In 1971, Alexander/Davis Properties merged with First and Mid-South Mortgage Company and became a wholly owned subsidiary. In 1975, Alexander/Davis Properties, Inc., was changed to First Management Services, Inc., doing business as First Management Services
Today, operating as First Management Services, the company has grown to encompass the management of apartments, condominiums, shopping centers, office buildings and warehouses. While the locations of our properties are always changing, we are currently managing or have managed properties in Tennessee, Kentucky, North Carolina, South Carolina, Florida, Georgia, Alabama, Mississippi and Virginia.
First Management Services was the first company in Nashville to receive the Accredited Management Organization designation awarded by the Institute of Real Estate Management of the National Association of Realtors. It is also a member of the National Multi-Housing Council, National Apartment Association, the International Council of Shopping Centers and several boards of realtors.
We manage and lease properties owned by some of the largest real estate investors in America. These companies and individuals have entrusted millions of dollars of assets to us. It is our duty to maximize the value of those assets.
First Management Services Today
First Management Services currently serves a broad range of private and institutional real estate owners. We provide management, brokerage, leasing, development, and renovation services for multi-family, retail, office, and industrial properties. Most of the company’s multi-family, office, and industrial management operations are within three hours of Nashville where we can provide quality local service. Our retail and investment brokerage operations serve properties located throughout the Southeast.
First Management Services is a full service real estate firm actively involved in all facets of the business. Though constantly changing, the company manages approximately 5,500 residential units and 765,000 square feet of commercial space. First Management Services has overseen the renovation of several apartment complexes (over 4,500 units) and shopping centers, converted apartment communities to condominiums, and leased up a troubled Class A office building. Our company is small enough to provide caring service with accountability for individual properties running straight to the company principals. Kirby Davis, President of First Management Services, reviews the operations of all properties under our care on a monthly basis. Our corporate property managers each handle a relatively small number of properties, which allows more frequent on-site visits. Because of our close corporate oversight, on-site managers are empowered with decision making authority which enables us to react to changing market conditions on a timelier basis. First Management Services is a large enough firm to provide the range of services and cost efficiency that owners demand. Our accounting department, which operates centrally at our Nashville headquarters, is overseen by a CPA. The company has the ability to perform consulting assignments including market and feasibility studies. Our employee base of 150 persons and reputation as an excellent employer enable the company to hire quality personnel and ensures continuity of service. Our substantial property base qualifies the company to participate in volume purchasing programs not available to individual owners and properties. First Management Services is an Accredited Management Organization which is fully bonded and insured. Management Services Every parcel of real estate is unique with its own strengths, weaknesses, and needs. Every property owner is unique in his objectives for his property. First Management Services strives to develop a thoughtful management plan for each property under our care which meets the owner’s needs. Our property managers study each property in detail and communicate frequently with the owner. First Management Services is a large enough company to ensure top quality professional management on par with the national management companies. Our depth of personnel and experience, dedicated accounting department, in-house legal expertise, Accredited Management Organization designation, and fully insured and bonded status ensure that more competent management cannot be found. As noted above, we have extensive experience with the four primary commercial property types: office, retail, industrial and multifamily. We have managed each of those property types for institutional owners as well as individuals and partnerships. The company employs approximately 150 people. This employee base consists of on-site personnel primarily on the multi-family properties, corporate property managers operating from our Nashville and Knoxville offices, a leasing and investment brokerage staff, and a centralized accounting department. The breadth and depth of our employee base insures consistent service in spite of employee turnover and attrition. The company employs a floating maintenance and landscaping crew for its commercial properties along with several specially qualified managers who are used as troubleshooters when special needs arise. Our focus on meeting the client’s objectives is particularly important to First Management Services in light of our size. Every client relationship is extremely important to the company, both at the onsite and corporate level. At First Management Services you will not be lost in the machine nor mired in an expansive bureaucracy. Your property will receive the personal attention of our principals.
Our accounting software's flexibility allows us to provide many different types of reports to our clients. In addition to the Balance Sheet, Income Statement, and Rent Roll, we can provide summary and detail cash activity reports, trend reports for twelve month's operations, and summary reports of transactions using the client's chart of accounts to facilitate entry to client records. We can transmit information to the client electronically.
We believe our professionalism and commitment to continuous improvement is evidenced by the many professional designations awarded our company and its employees. We were the first company in Nashville to achieve the AMO designation from IREM. Our property supervisors are overseen by an executive CPM. Many of our on-site multifamily managers have been awarded the ARM or CAM designation. We are also members of the International Council of Shopping Centers. The company is fully bonded and insured. In 2009 the Greater Nashville Apartment Association named First Management Services Nashville Property Management Firm of the Year.