What is Full Service Management?
There are many aspects to managing an asset. LRS Realty & Management has been Managing Real Estate investments since 1988. Full Service has different meanings to each of us. At LRS we go by a simple phrase, “buy it right, manage right and sell it right.” LRS works with you in the process of purchasing the property,
managing the property
and
helps you sell the property. Our Clients can move to another town or city, to another state or even another country, and we handle the whole process.
Purchasing the property:
LRS will help you identify a property, inspect the asset, and help you with your due diligence. We can help you determine if this property is not only a good investment, but is it the right kind of property for your portfolio. We can help you determine current and future values and expenses needed to create value. We will work tirelessly to determine the rental values, and what improvements are needed to create additional income. We will get you bids from reliable professional long term vendors to help you achieve your goals. LRS will help you determine the current value through inspections, knowledge of both the sales and leasing markets.
Management:
LRS will collect all rents, lease all properties, pay all bills, inspect the exterior of the property, do thorough interior inspections each year, take pictures at inspections, provide repair suggestions and bids. You will receive a monthly operating statement, a dedicated and licensed Property Supervisor, Portfolio Manager, and a maintenance contact person. The LRS property management team meets each week to discuss all issues, from leasing to maintenance, and potential problems.
LRS ownership “chairs” these meetings with personnel involvement in most issues. We work daily keeping up with the latest Covid related obligations of ownership as well as the residents that live at the properties. You can rest easy knowing that our 24 hour emergency service is second to none. Since 1988 LRS has been creating value in any market. Rents will vary, especially in trying times. Our marketing team, with our attention to detail and with over 40
years experience, will help guide you through these “special times.” The creativity and knowledge of what we call the “real market,” will establish more money in your account, and the equity that is needed to sell the property.
Selling the asset:
LRS will help you to determine the value of the property through inspections, comps, and experience. We often hear, “What do I need to do to get the highest possible return on my home, apartment building, commercial property?” We will work with your team to achieve this. Our property managers will do the inspections, establish value, and place your real estate investment in the best possible situation to reach your goals. LRS can represent you in the transaction or work with your agent in any capacity you feel will help achieve the maximum outcome.
Final point:
As with most economic ventures in life timing is everything, and the decades of experience has taught us to constantly move forward, but only if the time is right.
