The numbers in the graphs below represent Premier Property Management Group as it stood on the last day of October and how we have performed year-to-date 2013. An important part of each of these updates is an awareness by Memphis Invest, GP to monitor our growth and performance and to remind all of our readers that there is nothing typical about real estate investment. The number we report are not to show how an investment will perform or what rate of return an investor will achieve if they purchase property from us.
No, that is a much more important conversation that has to take place one on one and property by property. These updates represent an aim by us to be the best. The best property management company. The best real estate or alternative passive investment company. In order to be the best, you have to be willing to put your data in the public domain and let your performance speak for itself. As always though, we recognize that while some numbers look great, there is always room for improvement as as long as we are not 1005 occupied, then there will always be investors who just simply want their properties rented. That is our #1 priority every day and we do not forget it.
Real Estate Investors will often send us questions about property management and sometimes the questions are about how to find a good property management company in cities other than Memphis or Dallas. We always give the same advice and base it on our own experiences and business backgrounds. Some of the things that business background tells us to focus on include:
- How many properties are we leasing in a month and how many of them are leased above our current portfolio average rent in that zip code?
- How many properties were leased on a multi-year contract?
- How many multi-year contracts included a second year rental increase?
Some of those numbers are presented in the next graph:
Here is our tracking chart on property move-outs and lease extensions each month. It is an important barometer of the rental market and more importantly or our success at providing quality housing. Here is the latest chart on move-outs and re-leases:
This last chart follows our growth through the year. Both the Memphis and Dallas offices of Premier Property Management Group have experienced big growth as our investment business has grown tremendously in both cities.
Be on the lookout for tomorrow's articles on the new hires in Dallas and Memphis and plans being made to keep the vacancy rates low and the rental rates high.