Economic bright spots: Property management, maid service

Even in a recession, there are always firms growing while others suffer.

They might not be putting up new buildings, but they still need someone to manage the buildings they have. Even in a deep recession that strangles construction, there is demand for the services provided by Fifth Street Management Co., said George Lipscomb, the firm’s chief operating officer.

The company manages more than 5 million square feet of high-profile properties in metro Atlanta, he said. “Despite the economic situation, buildings need to be maintained. Buildings don’t disappear.”

If anything, the economic downturn puts a premium on property management — the ability “to preserve the asset’s value, contain expenses and maintaining tenants,” he said.

Fifth Street has more than doubled its staff in less than a year and a half, hiring building engineers — mechanics — especially. The company now has roughly 75 employees.

“We are on the verge of hiring more accountants,” Lipscomb said.

When two spouses work, it often makes sense to hire a professional crew to do the housecleaning the couple doesn’t have the time or energy to do.

When one of the couple is laid off, that’s not so true. That scenario has been played out repeatedly and painfully these past six months, said Claudia Wright of a 25-employee Maid Brigade franchise whose coverage includes Atlanta, as well as Fulton, DeKalb and Gwinnett counties.

“Starting last fall, we saw a decline in the request for our business,” she said. “As we got further into winter, especially January and February, we saw a decline in our regular customer base due to layoffs and people unsure they would have a job.”

The drop in her business echoed — and outdid — the national economic decline, she said. “We were down about 20 percent this year.”

Still, she is hopeful.

“In March and April, the number of people calling [and canceling service] has declined dramatically. And some other customers that had stopped the service have come back.

“I can’t say it’s the bottom, but hopefully we have seen the worst.”