Parthenon Properties, Inc. is a Tennessee corporation formed in 1986 to provide fee management for apartment and condominium communities. Currently Parthenon manages 3000+ units in Nashville, TN and Huntsville, AL.

Mission Statement

It is our intention to listen to our property owners and strive to understand their financial, physical and long term goals for their property. Upon achieving a clear understanding of these, we will bring all of our expertise and resources to bear in an effort to accomplish these goals. We will then accomplish this through attention to detail, devotion to resident relations, prudent financial management, and maintenance of the highest ethical standards. We will do everything possible to merit the confidence owners have shown in us by trusting us to manage their property.

History

Parthenon was founded in 1986 by Henry McLaughlin, Henry Carter and Ben Shields. They began Parthenon because they were dissatisfied with the way typical management firms concentrated their efforts on in-house investments and accepted outside fee management business to simply spread their overhead. Frustrated by trying to find someone to listen to, understand, and focus on their goals, they created Parthenon Properties, Inc. to serve those similar concerns. Parthenon's primary focus was and always has been to manage for others. They have dedicated themselves to being totally "service oriented" for owners and residents alike.

Parthenon steadily attracted new properties each year as word spread about their service-oriented approach. Once attracted, owners stayed with them because of positive operating results and high resident retention rates.

Parthenon continued to grow and in 1994 was awarded the management of all HUD owned apartments in Middle and West Tennessee. This contract was based on several factors including financial stability, experience of the principals, an outstanding management plan and ethics.

Today Parthenon is ranked as the 6th largest local management company in the Middle Tennessee area. Parthenon manages over 3,000 Apartment units. Its principals are among the most respected in the industry and are consistently quoted in trade publications. Henry Carter, Parthenon's president, has traveled to Washington D.C. the last 7 years representing the Tennessee Apartment Association lobbying Congress.

Our central office staff has collective experience of over 130 years in property management and related activities. Our on-site personnel at 18 properties have over 180 years of accumulated experience.

Philosophy

Parthenon's philosophy has always been to maintain the highest professinal and ethical standards while operating as concerned business people in an industry that has historically been dominated by large impersonal management entities. We are service oriented, privately held, and operate as a family with the main objective being customer satisfaction for both clients and tenants. Our goals are all long-term in nature, and we consider ourselves to be in the "relationship business".

Approach

Parthenon's approach to management has always been to hire good employees, treat them fairly, and to give them the authority to do their jobs in the most efficient manner. This approach has allowed our employees to succeed and excel in difficult times. Our employees are very loyal; our employee tenure is very high.

Goals

Parthenon's goal for each property is to produce the highest net operating income while maintaining the property in accordance with the owner's objectives. One of the ways we achieve this is to provide hands-on leadership to our managers by our property supervisors. These supervisors physically go to each property at least twice a week to monitor operations. Another way is to adhere to a strict purchase order system. All purchases are approved in accordancewith this system. Finally, most employees are set up under incentive compensation packages that provide additional income if their property exceeds it budget.