When Laura Russ began working in her father’s real estate company in high school, she routinely saw her father reference a giant 3-ring binder known as “The Fact Book” whenever he needed to know something about a property. Whatever wasn’t in his head could be found in this binder whether it was a loan term, an investor’s ownership interest, or a subsidy contract date.
After receiving her Master’s degree in Housing, Community and Economic Development from MIT and working in housing policy consulting, Laura returned to the company to work in property management. She modernized the company’s business systems and processes, working to make the various property management and accounting software products more relevant to business needs. She later applied this experience when working at Winn Residential and then at VIVA Consulting where she worked with a variety of housing providers to improve their operations and systems. While in these roles, she noticed that almost all organizations had their own version of “The Fact Book.” None seemed to work satisfactorily and all left data out of sync and outdated. Many asset managers spent much of their time tracking down information rather than using the information to improve their properties.
Laura began to develop an application designed to manage these “app gaps” between the property management software and the needs of the asset management roles. Laura now teams with technology and housing specialists to offer standard and customized versions of The Fact Book to a variety of non-profit, private and public housing owners. Her goal is to help owners focus on the needs of the residents and the buildings rather than the administrative tasks of ownership.
Learn more about Laura here.
The Fact Book works with a range of technical and industry experts to produce the application and to collaborate with clients on their needs.