Memphis Property Management
Let Us Manage Your Memphis Rental Property
Since 2007, our agents and staff have worked hard to establish Park Avenue Properties as one of the most progressive property management
companies in the industry. How do we remain cutting-edge in our business? It’s simple, really. We treat each property as if it were
the only one we manage.
Overview of Services
We drive results and are willing to reduce our rates to support our results-driven philosophy. Our vacancy rate is low due to our market
expertise and personalized service to every rental prospect.
We commit that we will work hard to find you a well-qualified tenant, and we offer a couple of options to fit your needs.
- Prepare and execute the lease
- Collect rent
- Collect and hold the security deposit
- Perform property inspections
- Handle maintenance issues with competitive pricing
- Evict, if necessary
Advertise and show property
We provide nationwide advertising on free and subscription based sites to gain maximum exposure at no extra cost to the homeowner,
and we showcase homes with walk-through video tours and wide-angle photos.
*Additional syndicated sites may include: RentBits, Walkscore, RentJungle, Rentenna, Zumper, MapLiv, RentMatch, FrontDoor, AOL Real Estate, LiveLovely, Enormo, Military.com, BackPage.com, ByOwner, MLS, VAST, Trovit, Geebo, Yakaz, MyNewPlace and more
Screen prospective tenants
- We have partnered with a nationwide screening company to process our rental applications.
- Prospective tenants can apply online 24/7. We process all applications until a lease is prepared for execution.
- Applications are processed electronically and include credit, criminal, sex offender and past eviction background searches.
We verify income and rental history.
- Scoring and recommendation policies are built on industry standards and are used to approve or decline prospective tenants.
- Screening results are used to make an informed recommendation to our homeowners. It is ultimately the homeowners' decision
whether or not to accept an applicant based on the screening results.
Disburse monies to the owner
Get paid faster.
- Tenant can submit rental payments in a variety of ways, including: credit card, bill pay, cashiers check and money order.
- Owner draws are processed 3 times per month via ACH.
- The owner portal allows owners to view statements and make owner contributions.
Provide maintenance assistance 24/7
- Our in-house Maintenance Department performs root-cause analysis and dispatches service vendors for routine and emergency
- We have dedicated maintenance vendors for basic repair services so we can control priority scheduling.
- Our per hour labor cost is nearly half of other maintenance companies and we have no time minimums.
- We re-key properties and inspect smoke detectors between occupants to ensure your asset is protected.
- Maintenance on-call 24/7: We have partnered with a nationwide dispatch company for after-hours emergency maintenance.
- Our in-house General Counsel oversees statute and document review and compliance.
- If eviction occurs, a specialized eviction attorney handles court proceedings.
Respond to tenant / third party issues
- Our Customer Care team is available 7 days a week to answer questions and follow up with clients by phone and email.
- Live Chat is available to all of our website visitors.
- We provide routine satisfaction surveys to collect valuable feedback from our tenants and showing agents.
There are NO hidden fees and NO money due upfront. You do not pay a penny until your property is rented and the monthly
management rates decrease with time until a well-qualified tenant is placed in your property. If your property is rented
within 1 – 60 days of listing the rate is 10%, 60-120 days the rate is 9% and 121 days or longer the rate is 8%.
Discounted monthly rates are offered at the following:
Clients with 2 or 3 properties start at a rate of 9% (not 10%) per month which can respectively decrease to 8% per month
if the vacancy time exceeds 121 days or longer for a specific property.
Clients with 4 properties or more receive a flat rate of 8% per month
The cost associated with advertising your property is recouped from the Finder’s Fee (also known as a Leasing Fee) which
is assessed at the beginning of the lease term and is equal to 50% of one months rent. Additionally, there is a one
time $100 set-up charge per property.
Tenant Procurement involves advertising, showing, finding and placing a well-qualified tenant in your property. Once
a qualified applicant is found, the lease documents will be prepared for your and the tenant’s execution. The first
month’s rent will be collected (prorated if a partial month), as well as a full security deposit (one month’s rent).
A fee equal to one (1) month’s rent will be charged to you for this service. This fee will be deducted from the collected
rent and you will be billed for the difference if partial rent is collected. The tenant’s security deposit is released
to you to hold for the lease term. There is a one-time marketing fee charge for this service which is paid at contract
- Find and screen potential tenants
- Prepare the lease
- Collect required move-in funds
When these items are complete, the owner assumes responsibility of the lease and security deposit for the lease term.
What Sets Us Apart
Many nationally branded real estate firms/franchisees/offices in the markets we serve have formally partnered with our firm to service
all of their Property Management needs. This outsourced arrangement allows their Agents to purely focus on real estate brokerage while
still offering a property management partner and solution to their clients.
Our firm is also being utilized by institutional investors. Several funds have selected our firm to manage their portfolios in multiple
markets since they prefer to have a single property management preferred partner rather than having a different property manager in
each market. This single sourcing strategy is proving to be an attractive one to these Wall Street customers.
Frequently Asked Questions
Memphis Area Information
Welcome to Memphis, TN, the birthplace of Rock ‘n’ Roll and home to Elvis Presley, Graceland, and some of the best BBQ around!
Memphis, TN and the surrounding areas offer a small town, city and downtown living experience. There really is a place for everyone…from
recreational focused areas like Lakeland and Millington, to the historical and art driven districts of Collierville, Bartlett and Germantown,
and not forgetting the bright lights and music of Memphis.
Be sure to check out our Utilities page for links to local resources.
Are you relocating to Memphis, TN or new to the area? If you have any questions or are looking for a rental or investment property, let
us be your guide. Contact us for more information.