Successful Rental Property Management
Approached by a local developer, Portfolio Property Management took on the task of managing a residential apartment community. At the groundbreaking stage, extensive research and a decisive marketing plan were crucial for accurate income and expense projections and achieving maximum occupancy.
Market Analysis and Proforma Budgeting
Broker associate Daniel Holt conducted market research to provide a proforma operating budget. The rapidly changing market required conjectures based on available information and the vast experience of our staff.
Marketing Plan and Community Development
A comprehensive marketing plan was executed during construction. A dedicated website for the complex was created, and a resident manager was hired. Recommendations for amenities, parking, and infrastructure were provided. Apartments were advertised before the certificate of occupancy was issued.
Standard Operating Procedure and Operations Protocol
A standard operating procedure was implemented, covering processes from advertising and tenant screening to rent collection and reporting. The operations protocol evolved with the community’s development, showcasing problem-solving and creative solutions initiated and supervised by Vice President Lorena Velasquez
Lease Management and Pandemic Adaptation
Leasing efforts proved successful, with prospective tenants qualified before units were finished. Despite a global pandemic, rental demand continued to rise. As the community leased, asking rents increased by nearly 20%.
Triumphant Achievement
Portfolio Property Management oversaw the project from beginning to end—a triumphant achievement of experience, perseverance, and ingenuity in residential property management.Residential Rentals
