Property Management Case Studies
Helping Southern California Investors Maximize Their Property Investments
Nothing is more satisfying than helping our clients maximize their profits and efficiency in their holdings.
Below you will find just a few recent examples of projects that we have managed or worked on, that has resulted in an increase in the bottom line for our property owners.
Reinvesting property management savings to improve property value and raise rents
Investment Property: Multi-unit investment property located in Glendale,CA.
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Investment Goal: Reinvest savings realized by using Empower Management to improve the property value and increase rental income.
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Solution: Because Empower Management does not charge the traditional one month’s rent as a tenant placement fee, the owner was able to realize immediate savings by switching property management companies. After discussing investment goals with our team, the owner determined that the best use of that cost savings was reinvestment in their rental property. We helped the owner to choose an upgrade project that would make their rental property more attractive to renters and result in a higher rental price.
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Results: The owner’s cost savings on tenant placement fees alone was more than enough to cover the cost repainting and refinishing a bathroom in one of the units. We managed the project to on-time completion and, as a result, the owner was able to quickly rent out the upgraded unit and enjoy an overall increase in his monthly rental income.
About Us
Empower Management is strictly a third-party property management company focused on the Southern California markets. The company is hired by a diverse group of third-party clients ranging from institutional level investors to “mom and pop” investors. Our goal is to oversee the day-to-day operations and management responsibilities of their multi-family portfolios/properties.
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We have extensive amount of experience in property management. From repositioning, lease ups, strong resident retention requirements, and due diligence. Empower Management also coordinates renovation projects, and is currently managing over hundred apartments.
Cleaning house to raise rents!
Investment Property: New client with a property located in Hollywood, CA.
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Potential Issues: This property owner came to us exasperated over the continually high vacancy rates which they were experiencing. As if the high vacancy rates weren’t enough trouble, the owners were receiving significantly below-market rents compared to similar properties in the neighborhood.
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Solution: Have our experienced property managers conduct a detailed onsite inspection and assessment of the property. Our report indicated that the main issue was that the building was “unattractive and dirty” and did not offer an inviting presence to current or perspective tenants. By working closely with the owner and some of our trusted vendors, Empower Management was able to improve the building frontage with new, low cost landscaping (including trees, shrubs, and other plantings), and a detailed deep cleaning, followed up by a low cost updating of the exterior and interior lighting of the building.
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Results: Immediate improvement in tenant morale and feelings of safety. And within a matter of weeks we were able to lease the vacant units at market rents!
Help an owner improve rental income and stability with corporate relocation
Investment Property: Single-family home located in Pasadena,CA.
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Investment Goal: Turn current residence into an income-generating investment property after consolidating living spaces.
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Solution: We worked with the home owner to re-position her residence as an ideal corporate relocation property, given its proximity to multiple major corporate headquarters. We helped the homeowner clean and prep her residence for consideration as a corporate relocation home, came up with a marketing plan that spoke to the needs of corporate executives, and engaged corporate relocation specialists to make the home available to corporate clients.
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Results: We were successful in our efforts to reposition the property as a corporate relocation option, signing a deal couple months ahead of schedule to use our client’s property as the new local residence. By positioning the property for corporate relocation, rather than as a standard rental property, we were able to secure a monthly rental rate $600.00 over current standard market rent for the property — resulting in an extra $7,200.00 in gross rental income per year for our client.