While most of our investors take a month off over the holidays – we never stopped working for you.
In fact, we rented 22 houses in December, which is a record for the slowest month of the year. As the demand for housing in Atlanta continues, the supply has been greatly reduced. Most of you have made more money on the appreciation of values over cash flow in 2015. I know this because I have seen some of the recent investor sales and was delighted to see the profit some of you realized. However, since 99% of you didn’t sell, you probably don’t realize just how well your properties have performed.
It is quite obvious that so many people are relocating to Atlanta from other parts of the country. The applications suggest that the in-migration to Atlanta is strong because job creation is very strong.
Turnovers continue to be the biggest challenge with real estate. Every investor hates turnover, and for good reason. Inevitably, there is a loss of rent and always some repairs to do. We never want to do more than we have to and the rehab is driven by what needs to get done while factoring in time of year. Unless a house has curb appeal it’s a challenge to rent, especially during the holiday season when rentals are slow.
And…there are always some houses that seem to take longer for one reason or another. But, the dumbest thing we could do as property managers is to simply put a tenant in your house that is not qualified. No one wants your houses rented as much as I do, but we must qualify the tenants. It cost a lot more in the long run to put a marginally qualified tenant into your house. The Portfolio Managers are in contact with your tenants prior to lease expirations in order to re-lease them.
In 2015, about 1 dozen homes were sold by investors and every investor realized a profit except one.
If it is your desire to sell in 2016, please let us know right away so we can first contact the tenant to determine if they are able to purchase, and/or we can make your investment available to other investors.
Contact me direct anytime to discuss your portfolio at (813) 335-3980 or email me at ASalmeri@NationalERAServicing.com
Make it a great year!
National ERA Servicing LLC, Managing Member