PROPERTY MANAGEMENT: Pet project

Deborah Stout's organization contains more than the standard paraphernalia of a property management firm. Upon entering the CEO's office at Stout Management Co., chances are you'll be greeted by two of Stout's best friends, who also happen to fall under the category of "business essentials."

One is Hope, a rescued greyhound who is there some of the time; Karma, a Doberman pinscher, is there nearly all the time. For 10 years, Stout has been bringing them to work for both professional and personal reasons.

"I think what makes our company unique is that my love and compassion for my animals has been incorporated into my business world," the lifetime Las Vegan said. "They create a more compassionate, loving environment in the office which goes out to the field, out to our clients. There's kind of a `ripple' effect."

Naturally, Stout's employees keep doggie treats in their desk drawers, as they've long-since embraced the canines as office mates. The bond among all concerned occasionally can make the day-to-day routine seem like it "doesn't even feel like work," according to company President Lisa Recina.

The company's unique chemistry, which includes a little bit of "Hope" and a lot of "Karma," has combined with other hallmarks such as longevity and familiarity.

Factors such as these have elevated Stout Management Co. to a prominent role in the real estate community. The firm is responsible for a portfolio totaling 10,000 units among 38 properties.

"We're the only company that is locally owned, has been in the business for 25 years, and specializes in apartment management," Stout said.

"All my employees live here, and the advantage of my company is that upper management is involved in the day-to-day operation. In this case, the owner of the company is still involved in the day-to-day operation after 25 years."

It was in 1980 that she joined Stout Management Co., which at that time was the brainchild of her brother, Mark Stout. In 1989, she took over sole ownership of the company, purchasing his half of the business.

Still, Stout managed to interweave her fondness for animals into the tapestry of her property management duties. Karma would accompany her out into the field, as well as provide in-house cheer at the office.

"Everybody loves her," Stout said of her Doberman. "She increases the morale of everyone, including my clients.

"I think it makes me a balanced person to not only care about my people and care about my clients, but to care about my animals as well. It's the same caring I do when I volunteer down at the animal shelter."

For 10 hours a week, Stout gives the Lied Animal Shelter all she's got, lending a helping hand.

Stout shows an equal amount of care when providing for her customers. In an area such as Las Vegas, she said, certain precautions must be maintained.

"Over the last 10 years, management business laws have become more competitive," she said. "It requires much greater sophistication and expertise in managing assets. That's because we're a very litigious state, we have more lawsuits, we have a lot more requirements to comply with than we used to -- there's a lot more fair housing rules and OSHA (Occupational Safety and Health Administration) rules.

"Las Vegas has now become a city with a melting pot of individuals. Our demographics are really diverse ... it's more intense to manage our residents now."

The basic duty of Stout's company is to advise clients on how to improve their apartment communities and how to increase revenue from them. In turn, the property's value increases. She can also advise her clients on when to sell a building and when to purchase one.

Further, Stout's company concentrates only on apartment buildings which she supplements with an informed perspective of the market.

"Deborah has a great instinct for what works and what doesn't in real estate," Recina said. "She has that gut instinct that might say, `This apartment is going to make money for you.' She knows location, she knows architecture, and she knows floor plans just by being in town for as many years as she's been here.

"But she's also got a talent to recognize great people and turn them into winners."

Stout insists that she'll advise a client against investments that she believes would not be profitable. She cited "honesty and integrity" as two crucial ingredients in her business dealings, adding that "reputation is most important" to her and her staff.

Stout's animals are another indispensable in her company's overall character. The mother of two, Courtney, 16, and Taylor, 18, proudly stated the emotional benefits of having the canines around -- for herself and her employees, as well as her clients.

"I think animals are the greatest teachers of compassion, kindness and unconditional love," she said. "When you walk into my office, that's what you feel."

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