About

Company History

Tamarack Property Management Co. (“Tamarack”) was established as a full-service management company in 1986. Tamarack has grown from a very small, local management company to one of the largest property management firms in the Rocky Mountain Region. Our corporate office is located in Billings, Montana and we currently manage properties throughout Montana, Wyoming and Utah. Tamarack specializes in affordable housing management and is experienced with HUD, Rural Development, Tax Credit and HOME program requirements. We have a strong background in commercial property and conventional apartment management and are able to match the needs of our clients with the skills of our staff to ensure continuous fulfillment of our clients’ goals and our contractual obligations. Using a system of state of the art technology, our staff is dedicated to measurable results.

In 2008, Tamarack was purchased by Northwest Real Estate Capital Corp (“NWRECC”), a 501(c)(3) Idaho corporation specializing in the property management and rehabilitation of HUD/Section 8, Rural Development and Tax Credit Housing. Together, Tamarack and NWRECC are able to offer services through the life cycle of our clients’ real estate investments, including long term management and preservation of affordable housing, assistance with refinancing, oversight of major capital improvement projects and brokerage services.

Affiliations

Tamarack Property Management Co. has the following Professional Licenses, Certifications and Affiliations:

  • Affordable Housing Management Association (AHMA/8) member
    • AHMA/8 Board of Directors Representative for State of Montana
    • AHMA/8 Board of Directors Education Chairperson
  • American Institute of Certified Public Accountants
  • Certified Occupancy Specialist (COS) Designation
  • Certified Professional of Occupancy (CPO) Designation – NAHMA
  • Certified Public Accountant (CPA)
  • Certified Section 515 Specialist I
  • Certified Tax Credit Compliance Professional C12P – Spectrum, Inc.
  • FmHA 515 Spectrum Training Award Recipient (S.T.A.R.)
  • Housing Credit Certified Professional (HCCP) – National Association of Home Builders
  • Real Estate Brokerage and Sales Licenses (Montana, Wyoming, and Washington)
  • Stepping Stones (NWRECC Service Coordination program)
  • Yellowstone County Property Managers’ Association member
  • Yellowstone Property Managers Association

Testimonials

See what some of our clients have to say about us!

Services

Brokerage Services

Tamarack provides a full range of real estate brokerage services. We creatively negotiated Purchase and Sale agreements that are beneficial to our clients. We often have current clients who are interested in purchasing real estate. These entities are matched up with other clients interested in liquidating their assets. Tamarack’s ability to offer Brokerage Services allows us to offer clients a single company that will manage and liquidate their real estate investments through the life cycle of their investment.

Here are some of the Brokerage Services we offer our clients!

  • Real Estate Licenses in Montana, Wyoming, and Washington
  • Represents both buyers and sellers
  • Deep understanding of commercial, conventional, and affordable housing operations and regulatory requirements
  • Valuation services
  • Market surveys and analysis
  • Coordination of third-party report gathering
  • Identification of local professional services to perform required studies, surveys and reports
  • Assists with securing required regulatory agency approvals
  • Serves as direct contact with Lender and other third party participants
  • Assists with the final closing requirements
  • Keeps records and establishes accounting procedures to meet requirements of the Lender and regulatory agencies
  • Assists with coordination and oversight of completion of critical and noncritical repairs identified in a Capital Needs Assessment

Commercial Property Management & Leasing

Tamarack provides a full range of services required for successful operation of Commercial Real Estate investments. Over the last twenty-five (25) years, Tamarack has served ownership entities of Office Buildings, Retail Shopping Centers, Warehouses & Storage Facilities, and Single Tenant Retail Buildings. Typically our new clients need talented management to preserve and improve the value of their Real Estate Asset.

Tamarack prides itself on the ability to evaluate the lease structure most appropriate for the market in which the property resides, then to optimize revenue generation through negotiated lease terms utilizing “triple-net” or “gross” lease terms with existing and new tenants. Often new or renegotiated leases require tenant improvements that allow for building updates as well as long-term tenant satisfaction. Tamarack has creatively negotiated funding for these improvements through tenant, owner and third party financed avenues. Tamarack’s services, which exceed the scope of basic Property Management Services, may be more accurately described as Asset Management Services.

Services We Provide

Evaluation…

  • Review of the physical structure and identification of strengths and weaknesses
  • Review of building position within the market currently served
  • Review of existing lease structure and potential lease structure
  • Review of current operation expense and potential expense structure

Day-to-Day Operation…

  • Establishment of sound building management staffing
  • Tenant relationship management
  • Physical plant operation and maintenance program
  • Financial reporting according to GAAP

Leasing…

  • Preservation of existing Tenant base
  • Lease negotiation with existing Tenants for mutually beneficial terms
  • Conversion of lease structure to “net” lease terms to optimize asset value
  • Marketing of vacant space to maximize occupancy with appropriate lease terms

Construction Management…

  • Provide services required to identify architects, engineers and other professionals necessary for preparation of scope work
  • Prepare Request for Proposal (RFP) documents and manage the bidding process
  • Award construction contracts and execute contracts
  • Oversee work progression and arrange for inspection
  • Close-out projects and prepare final payments

Facilities / Plant Management

Tamarack offers flexible Physical Plant Management for client buildings occupied by long-term tenants. Our deep understanding of building systems provides owner confidence that their tenant will be comfortable and their asset preserved. Modern HVAC systems incorporating off-site monitoring and control systems management as well as geothermal, solar heat and photovoltaic systems are common systems that Tamarack Building Engineers operate. Clients properties include privately owned GSA occupied office buildings, Border Patrol Stations, Mixed Federal Agency/Private Organization office tenants, large unoccupied Box Store retail buildings, as well as Retail Auto Dealership and Furniture Store properties in various stages of ownership change. Ongoing oversight and effective Preventative Maintenance are critical priorities that we keep focused-on.

Services We Provide

Evaluation

  • Review of the physical structure and identification of strengths and weaknesses
  • Review of building position within the market currently served
  • Review of existing lease structure and potential lease structure
  • Review of current operation expense and potential revenue structure

Day-to-Day Operation

  • Establishment of sound building management staffing
  • Tenant relationship management
  • Physical plant operation and maintenance program
  • Financial reporting according to GAAP

Leasing

  • Preservation of existing Tenant base
  • Lease negotiation with existing Tenants for mutually beneficial terms
  • Conversion of lease structure to “net” lease terms to optimize asset value
  • Marketing of vacant space to maximize occupancy with appropriate lease terms

Construction Management

  • Provide services required to identify architects, engineers and other professionals necessary for preparation of scope work
  • Prepare Request for Proposal (RFP) documents and manage the bidding process
  • Award construction contracts and execute contracts
  • Oversee work progression and arrange for inspection
  • Close-out projects and prepare final payments

Special Use Properties

Department of the Interior Building

Billings, MT
119,500 sq. ft.

Sunburst Border Patrol Station

Sunburst, MT
36,970 sq. ft.

VA Billings Clinic

Billings, MT
25,000 sq. ft.

Residential Property Management

Tamarack Property Management Co. provides complete real estate management services for conventional and affordable housing communities, including those governed by HUD, Rural Development, HOME and Section 42 regulations. Tamarack’s greatest asset lies not in size, but in our personal and dependable service to owners, residents and staff. Our commitment to service and accountability has resulted in successful, lasting relationships with our clients and colleagues. Our experienced staff bring a unique dedication to the housing industry. As a result, Tamarack receives regular referrals from our housing partners and has been recognized on two separate occasions as the HUD Manager of the Year for Region VIII.

Why should you choose Tamarack?

Cost Effectiveness

  • Simple, cost effective fee structure
  • No mark-up for maintenance or other services
  • No residential leasing or placement fees
  • No application processing fees
  • Maximization of collections and occupancy rates
  • Strong budget controls

Improved Relationships

  • Dedicated, experienced professionals accustomed to the rigors of property management
  • Strong resident services background
  • Experienced employee supervisors
  • Strong relationships with regulatory agencies
  • Proven track record in regulatory compliance
  • Named HUD Manager of the Year in 2010 – Region VIII

Peace of Mind

  • Full service management system allows clients to focus on other priorities
  • Successful management of over $53,000,000 in client assets
  • Monthly financial statements are prepared according to GAAP
  • Transparent management through our Owner’s Portal
  • Timely disbursements to Owners

Consulting Services

Tamarack Property Management Co. offers a variety of consulting options to our clients for services that fall outside the scope of regular real estate management. Tamarack’s in depth knowledge of each property under our management allows us to perform these consulting services at a reduced cost to our clients and often saves valuable time for related business partners. We also offer consulting services to entities who may not need or want full service management.

Tamarack Property Management offers the following consulting services:

Mortgage Refinance Services

  • Assists with the pre-application and application processes
  • Coordination of third-party report gathering
  • Identification of local professional services to perform required studies, surveys, and reports
  • Oversight of “Scope of Work” development and bidding
  • Project Management
  • Assists with securing required regulatory agency approvals
  • Serves as direct contact with Lender and other third party participants
  • Assists with the final closing requirements
  • Keeps records and establishes accounting procedures to meet requirements of the Lender and regulatory agencies
  • Assists with coordination and oversight of completion of critical and noncritical repairs identified in a Capital Needs Assessment

Brokerage Services

  • Real estate Licenses in Montana, Wyoming and Washington
  • Deep understanding of commercial, conventional and affordable housing real estate values and regulatory requirements
  • Valuation services
  • Market surveys and analysis

Resident Relocation Services During Major Property Rehabilitation Projects

  • Organizes and participates in resident informational meetings
  • Coordinates schedule for resident relocation
  • Makes arrangements for alternative housing within the property or off site
  • Arranges for packers and movers
  • Arranges for transfer of services including telephone, cable and internet
  • Works with rehabilitation contractor to coordinate and update relocation activities
  • Provides rent structure recommendations for final project
  • Renovation oversight and unit acceptance services

Limited Services Agreements (for clients not under management)

  • TRACS electronic data transmissions
  • Preparation of electronic 50059s
  • Preparation of specific policies or procedures required by regulatory agencies
  • Arms length review of existing property operations and financial management
  • Assistance with preparation of RFPs for third party management
  • Review and analysis of competitive management proposals
  • On-site inspections and file audits