Case Study: Transforming an Underperforming Property into a Profitable Asset in Southcoast, MA

Client Overview:
An experienced investor with many hundreds of units owned was looking for a Property Management company to partner with them to execute on a value-add turnaround strategy for their recently acquired portfolio of 96 units in New Bedford, MA.

Challenges:

• Below-market rental income impacting profitability.
• Challenging tenant relationships and late payments.
• Slow tenant turnover causing lost income.
• Partnership with Howzer Property Management:

After partnering with Howzer Property Management, a detailed rental analysis was conducted immediately. This showed that the property's rental rates were significantly lower than local market averages. Howzer quickly adjusted rental rates to match current market conditions.
Additionally, Howzer successfully managed the removal of problematic tenants through effective communication and legal support, significantly reducing downtime. Improved tenant screening methods were put in place, resulting in reliable tenants who paid rent on time and maintained the property well.

Results:
Within six months:

• Rental income increased by 25% thanks to competitive market pricing.
• Tenant replacement boosted revenue significantly, greatly enhancing the property's overall return on investment (ROI).
• Better tenant quality led to consistent rent payments, fewer property damages, and lower maintenance costs.
• Vacancy rates decreased dramatically, minimizing downtime between tenants and increasing occupancy.

Client Testimonial:
"Working with Howzer Property Management transformed my investment property from a financial headache into a thriving, profitable asset. Their detailed rental analysis and active tenant management greatly increased my ROI and exceeded my expectations." – Property Investor, New Bedford, MA.