Property Management Blog

First Quarter 2014

Web Admin - Friday, February 28, 2014

The vacancy rate for rent ready units in Jackson County is about 5.1%. QPM is experiencing a vacancy rate of 2% to 2.8%. I think this is a result of the salesmanship we use on our tenant applicants. We really want them to rent from us and it shows. Tenants like working with our front desk team.

Indications are that we are close to the “bottom” in both rental and real estate markets. Things might slide downwards this winter, but I think the big drop is essentially over. That means we are not generally having to adjust rents downward like we were earlier this year. It also means sales prices are holding for now. This is probably a result of a reduction in the “houses for sale inventory” due to migration to the rental market. Investors are beginning to call us for ideas about the rental market as many are considering new rental purchases.

I am changing the emphasis of QPM from “property management” to “assets under management”. Assets under management implies a more aggressive posture towards maintenance, maintaining current condition of properties and even improving value over time. We want you, as a property owner, to either keep, eventually sell or otherwise divest yourself of your rentals without concern for major rehabitation costs. Our inspection department is charged with annual inspections. We are taking pictures which you will be able to see on your very own website, upon your request, or we can email them to you. If you don’t do the internet, we can mail the pictures to you. This picture library will allow you to see what needs to be done so you can begin to allocate money for various upkeep and maintenance expenses. You will find QPM becoming more aggressive on maintenance issues. The reasons are twofold. We can attract higher quality tenants with better kept units. Better kept properties command stronger rents.

How fast do you want your net rental income? If you’re normal, the sooner the better. We now have the capability to deposit your check electronically from our trust account directly into your personal checking account. No more waiting for the mail. No more waiting for the check to clear. No more wondering why you haven’t received your check yet. If we have your current email address, we will also simultaneously email your statement. (Soon tenants will also be able to pay rent on line through our website, speeding things up even more. That is still a ways off yet, but on its way.)

Bob Rood
Quality Property Management Co.

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