Property management in Memphis

[Johnny Khoury]

Hi every one,

I am looking for good property management company in Memphis 

thanks in advance for your help 

Johnny

[Alex Craig]

@Howard Chou

Cordova is still a popular place to live, but the problem is hedge funds bought up mass amounts of property from owner occupants. In Memphis, when foreclosures were/are bought, it was/is returned to the market as a rental and owned by an investor. That method is a good way to add rental homes to the market and answer the demand of needed rental homes to an area over a period of time. But when hedge funds opened up their checkbook and bought owner occupants homes that were never intended to be rentals, it flooded the market with rentals. There could possibly be a saturation in the area. This is what I do to get our rentals occupied quickly.

1) Renovate them better then competition so that the home has features that other homes may have. In Cordova, that could be vinyl plank flooring instead of carpets in the high traffic areas, ceramic tile in the kitchen and baths, updated faucets, ceiling fans and light fixtures. Possibly even adding 2cm granite. A lot of the Cordova homes have that 80's or 90' feel of being outdated. Updates help.  Here is our standard Cordova footprint. This home had quite a few rentals, but the updates helped us rent it out in less then 30 days. Cordova Footprint

2) Advertising. Make sure your PM is using fantastic pictures. 85% of our leads are online. With that in mind, I have professional pictures taken to present the house in the best manner. Also use descriptive marketing paragraphs of why your house stands out. This is what we do: Rental Ad Example

3) Make sure you are priced right. If you are the same price or higher, then why would someone pay higher for your property? Larger bedrooms? Walk in closets? Look at Craiglist as those listings are the most active on the internet. Look at Zillow too and see what is currently on the market too.

4) Rent specials help us big time. If there is a lot on the market, then possibly others are offering move in specials.

5) Lower your deposit. A lot of people don't agree, but whether you get 1/2 month or full month doesn't make a difference if the property is vacant.

If you PM me your address, I can give you my opinion.