Lance Stendal, president, Omega Property Management
Lance Stendal is using technology to improve service as second-generation leader of Maple Grove-based Omega Property Management, the Twin Cities' oldest homeowner association management company.
Stendal took over in June as president of the company that his father, David Stendal, founded in 1977 as Omega Management. The elder Stendal continues to oversee several clients for the company.
A new software system allows homeowners and association board members to view work orders, account and other information, which Stendal said other management companies typically don't make available.
"The No. 1 complaint we get when we talk to new or prospective clients is they can't get the answers they need," Stendal said. "This is designed to short-circuit that so homeowners can get the information when they want it."
Omega Property Management does not have its own maintenance staff, relying instead on contractors and handymen, Stendal said.
"We've always seen that as an inherent conflict of interest," Stendal said. "Who is watching the contractor if that's the same person as your management company?"
Stendal last year launched Omega Public Adjusters to oversee associations' insurance claims and have an engineering partner oversee contractor work.
Stendal, previously vice president of Omega Property Management, joined the company in 2001 after selling his interest in a college marketing company he co-founded. He has a history degree from the University of Minnesota.
Omega Property Management handles financial, maintenance, administrative and other services for associations representing more than 5,000 condominium and townhouse units across the metro area.
Q: To what would you attribute Omega's longevity?
A: We pay attention to the details and see ourselves more as a partner with the board to lead the association. They like that we're proactive and engaged. We're out at the property weekly. We're looking at where the property is going to be in five or 10 years. With our experience, that's what we bring to the association.
Q: What level of growth are you targeting?
A: Initially we're looking at 10 to 20 percent growth. That would allow us to add clients and provide the same level of service. To achieve that, we've done a rebranding that's a little more modern and [better] articulates the role that we play for homeowners associations.
Q: What led you to start Omega Public Adjustors?
A: We strongly believe that a homeowners association that has an insurance claim needs someone working with them on their side. Who is making sure that this is something that needs to be done and that the contractor is doing the job right?