We are returning to normal operating procedures at Real Property Management Rio Grande. Some updates
- There is an extreme shortage or rental properties (Single Family Homes) in Albuquerque. Our inventory is about 1/3 of normal
- May is always our busiest month. Combined with the above, it is extremely difficult to find a nice rental property
- Many people are selling due to high prices for homes and low interest rates. While home prices have increased, Rents have as well. our average rental price has increased 10-20% over the past year. As a result, returns for owners of rental properties are at an all time high
- Low interest rates also apply to landlords, so this is also increasing returns for rental property owners who finance or re-finance.
- We have found effective procedures to manage rent collection and utilize courts and government assistance to achieve low delinquency rates currently. Our delinquencies are now below where they were prior to the pandemic.
- We file with the courts on all delinquent accounts and this helps tenants prioritize getting assistance or leaving the property if needed. We have been very effective in obtaining evictions and judgements where tenants refuse to work with us.
- We have received over $10,000 for our owners through our work with government assistance programs in the last 4 months.
Summary: Owning a rental property is even more profitable today than one year ago….. IF you have a professional property manager who knows how to navigate this new environment we live in.
Rents are higher, Interest rates are lower, we can use courts to get payments from tenants, and we have owners who can earn 10-20% return on their investment annually with all the tax benefits of property ownership
Call today and see how we can help you achieve these returns
Real Property Management Rio Grande
505-292-4765