With MMRA Real Estate Management you can. . .
INCREASE occupancy, PROFITABILITY, and value
increase rents while improving tenant quality and retention
affordably maintain your property
benefit from robust liability protection
enjoy clear, informative, narrative-based reporting of your real estate investment
benefit from reliable, friendly, and professional interaction
Let us show you how.
MMRA Real Estate Management is your partner in managing your real estate safely, reliably, and profitably.
A committed team
We will treat your property as if it were our own. Our process begins with listening to you and understanding your goals, ideas, and concerns. Then, as your asset managers, we will work with you to define your vision and expectations and will implement them.
Our roots are deep. Our company has been in business over 25 years, and our staff has a combined 152 years of experience in Whatcom County. We’re committed to our community and to understanding the local market. Our experience helps us create value for your real estate investment.
We understand that great communication is critical to building a successful long-term relationship. See our commitment to our partnership with you at work in how we help you understand what’s going on with your investment — both the numbers and the story behind the numbers. If monthly performance doesn’t meet your expectations, count on us to figure out why and to work with you to respond accordingly. Our goal is to collaboratively identify and proactively resolve minor issues before they become major ones.
MMRA Real Estate Management is consistently the highest rated local property management company for
Happy tenants that stay
Tenant retention is a top-of-mind concern for everyone. Our commitment to creating high occupancy for you begins with understanding prospective tenants’ immediate and long term-needs. If they’re a good fit for your property, we create and sustain positive relationships with them through regular check-ins. By proactively resolving potential issues before they become serious. We make it easy for tenants to renew leases year after year.
MMRA Real Estate Management has an average occupancy rate of 99.1% in the properties we manage.
Solid Vendor relationships
Good partnerships with vendors and subcontractors create stability and quality while keeping costs low. We have solid, enduring relationships with quality vendors and subcontractors who are committed to working with our clients to create affordably successful, win-win outcomes.
Robust processes and systems
Documentation scrutinized by our attorneys creates a resource that helps to keep you safe from legal action. In addition, our long-term experience in management has helped us develop streamlined processes that work efficiently and at a cost savings to you.
Proven systems. Powerful results. . .
We are thorough and methodical in our tenant approval processes. After tenants submit an application, we complete a criminal, credit, income, and employment verification.
If you are self-managing your property, you may not have access to credit bureaus. We are happy to provide this access at no additional charge.
Our leasing strategies are designed to safeguard your property’s profitability year round. Our leases typically end in September and we solicit for renewals and advertise for vacancies in April. This provides us with an accurate forecast of occupancy with opportunities to adjust rent based on the response to our marketing efforts. An additional benefit of this approach is that properties are occupied during the winter months where it is traditionally more difficult to find tenants.
To protect your property, we require tenants to carry personal property coverage ($100,000 minimum), a condition which can be instrumental in lowering the owner’s overall insurance costs.
Inspections maintain property values and help us identify and respond to issues before they become serious. We strive to do a drive-by inspection every month and an interior inspection every quarter. We also complete a comprehensive inspection with maintenance staff on an annual basis.
Prompt rent collection and payment of bills
We share your concern that timely, predictable payment of rents take place year-round. Every month, all tenants see accounting statements informing them that rents are due by the first of the month (and late by the second). We pay owners on the 10th of each month.
Move in/ Move out processes
We allow for a seven day turnaround for people moving in or out of a location. We collect the statement of conditions report when the tenant moves in and we hold them accountable for any damage to the units other than normal use.
We also choreograph the move-in process with vendors and bill collection.
Lastly, we prepare the final deposit deposition letter in compliance with state guidelines to minimize any financial exposure that can take place should this document be delivered late.
Our company uses industry leading software and we are careful about being transparent about the financial health of your property, especially with costs. You will get physical copies of all invoices related to your property on a monthly basis. You get a monthly cash flow statement, twelve-month cash flow statement, balance sheets, and detailed transaction journals.
At year’s end, we will send you a 1099 form and a finalized year-end profit and loss statement.
We will immediately let you know if costs exceed any of the thresholds you specify. In addition, we will explain the hows and whys of any unexpected financial activity.
“We will treat your property as if it were our own. Count on us to manage your property for
maximum return and peace of mind.”
-MMRA Real Estate Management