Transparency, Trust and Teamwork are three qualities that make a business thrive. Through the partnership of Mendy Katz, President, and Carol Caprio, Vice President, Monarch Estate Services, LLC is one of the leading companies merging property management and luxury concierge. Traditionally these two sectors stand alone, but through Katz and Caprio’s teamwork, valuable results and true lifestyle service is provided using the company’s unique hands-on approach.
“The name Monarch is a reference to royalty. For us, we want all our clients to have a full range of unparalleled customer service and be treated like nobility. We want to provide service through true connectivity, availability, and transparency,” said Mendy Katz.
Katz has been providing property management services for real estate housing clients in the Connecticut/Tri-State area for over 20 years. He has single-handedly taken a 40-unit real estate company and developed it into a 2000-unit conglomerate in just three and a half years. According to Katz, the key to excellent property management and building success is transparency. Sharing key performance indicators through reports and maintaining open communication are attributes that allow for achievement. As his passion for real estate strengthened, he has worked with banks to renegotiate default bank mortgages, saving clients more than $9 million dollars throughout his career. Using Transparency, Trust and Teamwork, Monarch’s success has continued to grow. Today, Monarch aims to manage properties across the U.S. and is currently working with over 65 clients. Some of Monarch’s services include home renovation, home maintenance and repairs, security and technology installation, interior design and home staging, pool services and maintenance of outdoor amenities, architectural landscaping and maintenance of equestrian facilities. Monarch’s strength is its special relationships with its vendors, like their partnership with the sole contractor for the US Open. This has led to client requests for tennis and pickleball courts to be added to the properties. Pickleball has become the new sport of trend.
With Carol Caprio at the helm, any personalized service can be achieved. Caprio’s background in the fashion industry, having worked for companies like Calvin Klein, Chanel, Saks Fifth Avenue and Michael Kors, allows her to have a great understanding of design and the luxury market. Licensed in real estate for over 10 years, Caprio can use her combined knowledge of both markets to help scale Monarch’s growth.
“Merging the luxury real estate market with lifestyle management is very dynamic. There are concierge services and there are real estate property management companies, but we really do not see the competition coming together to form a conglomerate. If one’s foyer needs fresh cut flowers, luxury ground transportation, or a private jet needs to be arranged, we can do it all,” said Caprio.
Approximately two-thirds of Monarch’s clients are using the company’s luxury services, which includes access to a yacht syndicate of over 70 yachts, and a private plane syndicate with over 200 luxury jets. Monarch’s reach has no boundaries, as they have established partnerships in Europe, Monaco, Italy and the UK. Providing unparalleled service is the focus.
Transparency, trust and teamwork being the foundation for Monarch, the company uses an app to provide constant communication. The app is user-friendly, allowing the client to make the request of services and provide real time updates of the request. Keeping clients informed and updated enables a true cohesive communication process. Last minute changes and requests that are responded to define true concierge. Katz helps maintain requests and tasks with a team of people that work with him on property management. However, the Monarch Estate Services team knows that, though there are synergies between their two divisions, all services can be selected separately and customized upon request.
“For Monarch, there is no ceiling to reach. We are growing globally, and our clients are our family,” said Caprio.
Wanting to expand, and with a long list of vendors and established partners, Monarch can customize favorable financial packages for their clients. New clients can take advantage of 10 percent off on first-time concierge packages, luxury estate management, or travel-related services.
“Communication and transparency are keys that have helped Monarch grow. We hear people; we really listen to what is important to each discerning client. We instill trust. If you can transparently explain to any client the processes needed to assure the right confidence, positive end results are always achieved. This is why our clients want to do business with us, “said Katz.