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Data for the Modern Investor

Here at 1836 Property Management, we believe in being as transparent as possible with our investors about the work we do and the numbers we provide. We want our partners to know exactly how we operate not only to build your trust in the services we provide but because knowing how our portfolio of properties perform is key to determining how your investment will financially succeed for years to come.

 

Below you will find property management statistics that comes directly from the software we use to track our portfolio of investment properties. This resource of statistics and educational material is updated on a monthly basis to provide investors with the most accurate and up-to-date information possible.

1836 PROPERTY MANAGEMENT PORTFOLIO OVERVIEW

Total Properties

651

Total Assets Under Management

$240.9M

Total Investors

568

Total Residents

1062

1836 PM MONTHLY STATISTICS OVERVIEW

AVERAGE NUMBER OF DAYS IN ONBOARDING

When we onboard a new rental property into our portfolio, there are certain tasks that MUST be completed which will affect the amount of time it takes for that property to be appropriately ready for market.

 

During this phase of the process, our onboarding specialist works directly with the rental owner to obtain keys, codes, cards and remotes to the property. Additionally, they also ensure that a maintenance reserve is funded, that all appropriate utilities are turned on, a property walkthrough has been scheduled, lockboxes have been placed on the property, and any necessary property make-ready projects (including professional cleaning and repairs) have been scheduled and completed. Then we’re ready to list the property on the market!

 

This tried and true procedure is what allows us to get the absolute best tenant in contract for each property and with a competitive rental rate to earn a higher ROE for the investor. Every new property we receive is different, so remember this data is an average of our entire portfolio of properties. Some properties may spend 1-2 weeks in onboarding, while others may need upwards of 4 weeks of attention. This timeline is largely dependent on the condition in which we receive the property.

October

19.7

November

20.38

December

26.7

AVERAGE NUMBER OF SHOWINGS UNTIL LEASED

Condition and price, as always, will determine how quickly your rental will lease. 1836PM has been executing and perfecting remote showings for years. Now, we’re executing remote move-ins with the new software and procedures we’ve established as well.

October

13

November

6.6

December

4.45

AVERAGE NUMBER OF DAYS ON MARKET UNTIL LEASED

Again, your rental property’s condition and price will be key indicators as to how many days it will remain on the market. As the investor, you must do your due diligence to ensure your rental is in that ideal “make-ready” condition before it goes to market. You must also price your rental fairly and on par according to your house specifications and location. A landlord that provides a home in great condition, has a much better chance of getting great tenants that stay in contract!

October

19.5

November

27.9

December

13.53

WHY WE MARKET AFTER A TENANT HAS MOVED OUT AND THE PROPERTY

IS VACANT AND MOVE-IN READY

The industry standard on whether to put a rental property on the market while the current tenant is still living in the property varies largely from one landlord or property manager to another. However, we can say from years of experience, that to give your rental property the best possible chance to get a great new tenant in contract and at the best possible rental rate, the property MUST be vacant and move-in ready.

 

That means you as the owner (or under partnership with a professional property manager) have done your due diligence to have the property professionally cleaned and made any necessary improvements to the exterior and interior (including the amenities and appliances); to provide your new tenants with a habitable and welcoming new home.

 

In this video, Matt Leschber, 1836PM Founder, discusses a few reasons why you want to take your rental property to market only after it’s vacant and move-in ready, as well as, what NOT to do and what TO do, to get it ready.

 

Time and again we’ve had excellent success renting rental properties quickly, at a competitive rate, and with little to no turnover, simply by making sure the property is in a condition that you yourself would want your family to live in. If you want a great tenant that takes care of your property, you must do the same. Show those well-intentioned prospective tenants that your property is their next home by making sure it looks and smells great before it goes to market!

TOP MAINTENANCE ISSUES RESOLVED LAST MONTH

Maintenance matters!! We cannot urge this statement enough. Not only does staying on top of property maintenance ensure the longevity of your property, but it helps to avoid even more costly repairs down the road and speaks volumes to your tenants that you truly care about their home.

 

When maintenance calls are answered and repairs are made in a timely manner, this ensures that your tenants will continue to report issues as they arise – mitigating the chance of surprise big-ticket fixes in the future. We maintain open lines of communication with our residents 24/7 and 7 days a week – ensuring we never miss those important maintenance needs for every single property in our portfolio.

 

Take a look at the top maintenance issues our team of professional handymen tackled last month!

December '21 1836 top maintenance tasks

1836 PM ANNUAL STATISTICS OVERVIEW

APPLICATION PROCESSING

Sometimes less really is more! While we do love to welcome new residents to our 1836PM family, having a lower number of new applications to approve means that our residents are staying in place and contract for the long haul. Which means you as the investor and us as your property management partner are doing something, or should we say, many things right!

EVICTION RATES

No one likes to hear the word eviction. But nonetheless, sometimes it has to be done. Fortunately, our stringent application approval process mixed with top notch resident communication has allowed us to mitigate the need for regular evictions. We pride ourselves on placing residents in our properties that are not only the best fit, but are also financially stable. However, when the need arises, our investors can rest assured that we will handle the situation every step of the way.

AUSTIN, TEXAS EVICTION TRACKING

2,526 Filings from March 15, 2020 – January 2, 2022

*Austin, Texas data via EvictionLab.org from Princeton University.

1836 PM Evictions Data

*Local Moratorium: Mar 19, 2020 – Dec 31, 2021  |  CDC Order: Sep 4, 2020 – Aug 26, 2021

1836 PM Communication

*Data per unit per month.

3.13

Calls to Main Switchboard

11:14

Minutes Per Call

34

Minutes on Main Switchboard

*This monthly data is based on the average number of phone calls executed on the main switchboard (main phone number) only and does not include direct calls from real estate agents regarding leasing, etc. or any backend work, emails, scheduling, accounting, and more!

1836PM Portfolio: Average Weekday Correspondence

Received:
2000 – 3500

Delivered / Replied:
500 – 750

1836 PM Portfolio: Average Weekend Correspondence

Received:
400 – 900

Delivered / Replied:
30 – 100

1836 PM Portfolio: Average Total Emails Per Month

Received:
60,200

Delivered / Replied:
13,520

Average Total Emails, Per Unit, Per Month

Received:
128

Delivered / Replied:
29

Time Spent on General Email Correspondence Per Unit Per Month
(to residents, owners, vendors, applicants, billing, legal, etc.)

3 hours and 6 minutes

*Data based on if each email received took 1 minute to review and each email sent took 2 minutes to write.

Now Let’s Add Maintenance Email Correspondence to the Mix…

5 hours total per unit per month

*Data based on time spent providing general email correspondence + maintenance troubleshooting, scheduling, billing and payments.

Time Spent on Performing Maintenance Tasks/Repairs

Average Time Spent Per Maintenance Task

15 Minutes

Average Total Time Spent on Maintenance Per Month (Entire 1836PM Portfolio)

336 Hours

Average Total Time Spent on Maintenance Per Unit Every Month on Average

41 Minutes

Out of all maintenance calls requested per unit per month, 78% of those requests are actionable. Meaning we call our trusted vendor to step-in, troubleshoot and repair.

Ready to Partner with 1836 Property Management?

We offer three service packages to ensure that you have a choice of the best management level for your property, needs, and goals. All of our packages come with the same great service guarantees!

Have questions?
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