Economical Rental Maintenance
PORTUS helps consider the vision of the property from the owner’s perspective, their future plans, and their financial outlook.
1 – This project was managed by PORTUS for more than a decade and renovated originally as a long term rental and later in the management period the owner decided to renovate and furnish for an Air BnB rental with two apartments and then sell the property for maximum return.
2 – Economical renovations were performed in both phases. The property has a large lot and has the highest and best use as a future building lot. The building itself would not have high future value. Keeping economical renovations in place and maintaining high rent rates but not new construction.
3 – Once maximized the rental roll on two units and the property being in a great market and in good shape, the property sold for 275% of its acquisition price a decade before, as well as cash flow on top of the investors mortgage. PORTUS helps consider the vision of the property from the owners perspective.
