2 years ago, we were brought in to take over the property management of a 40 unit Philadelphia apartment building a few blocks outside of the Temple University area. At the time the building at 40% vacancy, 50% delinquency of existing tenants and the live-in property manager that the owner had didn’t care. We brought it up to 100% occupancy with a 90% collection rate and the owners sold it for a nice price.
When I approached the new buyer about us continuing to manage the property, he blew me off and said that they self-manage.
I drove by the property earlier this week and this is what I saw… piled up trash on the street and graffiti. This new owner needs us more than he realizes… it just might take some time for him to figure it out.
If your property looks like this, or you have more than 10% vacancy or 10% delinquency… call REMA today at 215.947.1032.