Case Study
Discover the Savings
Neighborhood Solutions, a property owner in Norristown, contacted us regarding the management of a Four (4) Unit property. Here were the results after a year of our ownership:
Scenario 1 - Property Managed by OWNER.
Gross Rents
Vacancy (12.5%)
*2 vacancies at 90 days each.
Fixed Annual Costs
Taxes
Insurance
Maintenance Summary
Plumbing
5 calls $75 Service Replace Toilet
Drain Clearing Electric
Bad Switch Replace 2 Breakers Common Area Lighting Snow Removal
Lawn Care
Painting/Cleaning
Net Operating Income
Scenario 2 - Property Managed by NEWPORT
Gross Rents
Vacancy (8.3%)
*2 vacancies at 60 days each.
Fixed Annual Costs*
Taxes
Insurance
Maintenance Summary
Managment Fee (10%)
Leasing Fees (100% Rent)
Maintenance Summary
Plumbing
5 calls Replace Toilet
Drain Clearing Electric
Bad Switch Replace 2 Breakers Common Area Lighting Snow Removal
Lawn Care
Painting/Cleaning
Net Operating Income
Additional Savings
*We also successfully represented the Owner for a tax appeal, which saved them $960 per year.
*After an insurance review, we negotiated their policy for $600 in annual savings for the same coverage.
For the first 5 years, that's an Additional $7,800 in SAVINGS!!
