1732 Quail Ridge Road
Raleigh, NC 27609
Tel: 919-878-8342 Toll-free: 888-606-5455 Fax: 919-516-4178
Email: GLFrench@nc.rr.com
Celebrating Our 15th Year of Commitment to Excellence
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1732 Quail Ridge Road Raleigh, NC 27609
Tel: 919-878-8342 Toll-free: 888-606-5455 Fax: 919-516-4178 Email: GLFrench@nc.rr.com
Celebrating Our 15th Year of Commitment to Excellence
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Excerpt from Chapter 8, Financial Management Strategies
The success of any rental property depends on whether it generates a sufficient amount of money to operate properly. While "proper" operations may vary according to the type of property and the owner's objectives, all properties must meet certain financial obligations in order to be successful. . . . . The landlord-tenant relationship is based on the provision of shelter in return for something of value - i.e., money or services. The concept of the value paradox addresses the potential for deterioration of that relationship in assisted housing. At these properties, the rent a resident is required to pay may not have any relation to the actual market value of the apartment - i.e., the rent it could command in a competitive market. As a result , there is usually a disparity between the manager's view and owner's view of the property's value and the resident's perspective on that value. There is a more substantive reason why rent collection is important. This reason deals with rent as revenue - the principal source of income for meeting the property's financial obligations. Rents not only provide money for the property's operations, but are also the primary source of income for the property owner and management company. Everyone involved in the management and ownership of an apartment community has a stake in the timely collection of rents. Satisfying the financial requirements of a property is the best strategy for ensuring that a property is successful. This success has an impact on the property itself and on all the people associated with it. |
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1732 Quail Ridge Road - Raleigh, NC 27609 Call Toll Free: 888-606-5455 Fax: 919-516-4178 |
