By Paul Branton, Director of Investor Services for Home Rental Services
When I began this journey back on Jan 11th 2010, little did I know that my role within Home Rental Services would be what it is today… or that everyone here would put up with me this long! :)
When I started here twelve years ago, my wife and I had been married five years and we were expecting our first child. Later this year, we will celebrate our seventeen year anniversary and the blessing of our family that now includes three wonderful children. Wow, talk about a lot of life happening!
In addition to all the “life” that has happened in the past decade, we’ve experienced an equal amount of change here at HRS. When I first started, a large percentage of our clients were homeowners renting their homes because they owed more than the house was worth and didn’t want to sell (or couldn’t). Today, we are working primarily with folks who are strategically buying and holding long term rentals as a way to diversify their investments. (And those folks that held on from 2010 to today are now quite glad that they did!)
This past year was quite an enjoyable one for me here at Home Rental Services. I truly enjoy the opportunities to help our clients invest in real estate! In my role, one of my favorite tasks is suggesting and coordinating repairs/improvements to properties that will increase their overall performance as a rental.
Renovation and Make-Ready Projects
In 2021, the Investor Services department oversaw 16 major renovation projects and 9 large make-ready projects. By way of completing this work, the 16 renovated properties saw an average rental rate increase of 17% and the 9 make-readies an average increase of 8%. In addition to the rental rate increases, I’m confident that these projects provided a return of 90% or greater in the value of the home by way of forced appreciation.
Out of State Investors
On the acquisition side, we had the privilege of helping a new out of state client acquire their very first investment property! (And they just closed on house #2 last month!) In addition to helping out this new client, we also assisted an existing client, who lives overseas, in the acquisition of their 4th investment property!
Did you know that we can help you in your search for that first or next rental investment? If not, now you do! If you’ve been thinking about buying your first investment property, or you could use help picking your next investment property, give us a call!