Case Studies
Single Family #1
Background
Owners switched to The Grandin Agency from a different property management company. When we came in the current tenants had multiple landscape violations pending with the City. We were able to determine that the previous company had not inspected the property in over six years! When we performed an inspection, there were multiple lease violations uncovered including unauthorized occupants, unauthorized pets, and laundry list of physical damage.
Lesson
A COMPANY CANNOT EFFECTIVELY MANAGE A HOME IF THEY DON'T INSPECT IT. GRANDIN DOES AN INTERIOR INSPECTION EVERY SIX MONTHS AND WE EMAIL YOU A COPY TO CONFIRM ITS COMPLETION.
Multi- Family Apartment
Background
When we started managing this apartment complex it had a 21% vacancy rate and four severely past due tenants that were not honoring their payment obligations. We evicted the problem tenants and quickly re-rented all vacant units at a higher market rate. This building is currently at 100% occupancy and is returning 35% more rent to the owner than when we first started managing it. To date the residents that we have placed in this building have been model tenants.
Lesson
CONSISTENCY IN PROCEDURE IS THE HALLMARK OF EFFECTIVE MANAGEMENT. THE LEASE MUST BE FOLLOWED AND TENANTS NEED TO KNOW THAT THE PROPERTY MANAGER WILL ENFORCE THE OWNERS INTERESTS TO THE MAXIMUM LETTER OF THE LAW.
Single Family #2
Background
Owners brought Grandin on to manage their single family home after they had unsuccessfully attempted to sell it. At the time the owners brought us on had been trying for over two years to sell the home - it had been vacant for 14 months+. Grandin was able to clean up the home, get it rent ready, and make the home shine again. It rented in less than 25 days at a price that allowed the owners to cover their existing mortgage and relieve the financial burden of utilities, landscaping, and ongoing maintenance.
Lesson
SELLING IS NOT ALWAYS THE BEST FINANCIAL OPTION. SELLING AT A DEEP DISCOUNT/LOSS CAN SOMETIMES BE AVOIDED BY RENTING YOUR HOME AND WAITING FOR THE MARKET TO RECOVER AND APPRECIATE.
