Real Estate Management

SigEp National Housing provides real estate management services for operational oversight of our facilities nationwide. In partnership with local AVCs and undergraduate chapters, SENH offers property insurance options, facility operations resources and direct property management through the LLC Program. For the LLC properties, SENH provides professional real estate management, and affords the volunteers an increased capacity to mentor and support the undergraduate chapter.

LLC Program

Property Management

Property Insurance

LLC Program 

Through its Limited Liability Corporation (LLC) Program, SigEp National Housing manages and operates fraternity houses.  This program offers chapters day-to-day support through local property management and long-term housing strategy development with SENH staff. SENH can assume fiduciary responsibility when local chapters and AVCs are presented with financial instability. This provides chapters an opportunity to remain in their facility, while SENH remedies the operational challenges and allows volunteers to turn their focus toward the mentoring of undergraduates and strengthening of the chapter.

LLC Chapters

Alabama
Indiana
Massachusetts
Michigan
North Texas
South Carolina
Syracuse
Vermont
West Virginia
Western Michigan
Yale

Property Management 

With effective property management, a chapter house can be a home away from home for SigEps. Successful operation requires management consistent with many commercial-based standards. A chapter house must be maintained with the utmost respect to preserve it for future generations of SigEp undergraduates.  SENH will work with chapters to address deferred maintenance issues and build a healthy environment, one conducive to personal growth and academic success.

SENH collaborates with local AVCs and property managers to provide services and resources including:
•    Property Insurance
•    Lease Agreements
•    Operation Budgets
•    Rent & Security Deposit Collection
•    Occupancy
•    Taxes & Filings
•    House Rules
•    Move-In/Move-Out Procedure

Property Insurance 

Sigma Phi Epsilon provides comprehensive, affordable property insurance to chapters and AVCs through the Fraternal Property Management Association (FPMA), which is a group property insurance program managed by Willis North America.  This property program provides all risk coverage insuring the building, contents, business income (loss of rents), extra expense and equipment breakdown for property owned or leased by a local chapter or Alumni and Volunteer Corporation.

With roughly 1,900 properties insured at a value of $175 million, FPMA offers those enrolled affordable policy premiums and assurance that premiums will not spike because of a single claim. FPMA also offers various discount opportunities to those who enroll.

• Forty percent discount for sprinkler system
  
  
• There will be a 7.5 percent increase in premium rates for non-sprinkled properties
• The only major fire losses in the FPMA have been at non-sprinkled properties - average loss was $1,350,000
• 791 of the 1,899 properties in the program are sprinkled (42 percent)
• 42 of the 118 SigEp properties are sprinkled (36 percent)
  
  
• Ten percent discount for increasing the 'All Others Peril' deductible to $10k
  
  
• Ten percent discount for modern, safe facilities - 1,990 or newer construction/complete renovation with one or more of the following
  
  
• Central station fire and burglar alarm
• No smoking and no candle burning policy
• Resident advisor or house parent living in
  
  
• Ten percent discount for employing a professional property management company
  
  
• Five percent multiple-building discount
  
  
• Five percent strategic assessment discount if conducted through Pennington process (good for two policy terms)