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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 data 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

585

Total Assets Under Management

$216.5M

Total Investors

469

Total Residents

969

1836 PM MONTHLY STATISTICS OVERVIEW

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.

January

4.7

February

8

March

4.6

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!

January

18.5

February

9.89

March

1.4

3 Code Compliance Items to Consider at Your Rental Property

Whether you’re a seasoned real estate investor or a new investor, being aware of legally required code compliance items at your rental property is essential.

 

Not only will remaining compliant keep you out of legal trouble, but it will ensure your paying tenants are safe and happy. Afterall, a happy tenant means they stay in contract longer and the chance of property vacancy is kept to a minimum.

 

In this 30 minute webinar recording, you will learn about 3 need-to-know code compliance items:

 

  • Rekeying your locks before a new tenant moves in
  • Strengthening existing deadbolts and locking systems
  • Appropriate smoke detector and carbon monoxide tests

 

Host: Matt Leschber, Founder, 1836 Property Management

Co-Host: Ken Jennings, CEO, Mr. Rekey Locksmith (Rekey.com)

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!

Fb March Maintenance

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.

Texas Current Rate of Eviction

2.17%

*Texas data via EvictionLab.org from Princeton University.

1836 PM Evictions Data

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 four 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?
Ready to partner with 1836PM?

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