World Class Triad Property Management

Progressive Real Estate Management for Maximum Returns

Greensboro Property Management Blog

The Birch Quarterly January 2015

System - Saturday, January 24, 2015
Property Management Blog

Welcome to Our New Team Members

We are very pleased to welcome several new members to our team over the last quarter:

  • Michelle Bonifant joined our team as Executive Assistant to our Management Team after spending many years in the construction and maintenance fields. Mrs. Bonifant holds an Associates Degree in Education from Guilford Technical Community College.
  • Sharon Morton has joined our Client Services team. Originally from the Greensboro area, Ms. Morton has worked in the retail and property management industries for 20 years. While in the property management industry Ms. Morton managed multiple properties and was able to earn the designation of Certified Apartment Manager.

Involvement

Industry involvement, one our core fundamentals with education and technology, is very evident in the role our CEO has taken on, Chairman of the North Carolina Association of Realtors Property Management Division Board of Governors. Lee Porter was recently elected by his peers to chair the Board of Governors after serving as Vice-Chair in 2014.


 â€œAmong the many goals we have for 2015 will be to work closely with our membership to provide the support to continue to elevate the operations of our member firms”, stated Mr. Porter.


 Through Birch Management’s industry involvement we are able to stay on the forefront of industry accepted Best Practices and evolving trends. By being able to identify these, we are able to properly operate our clients investment properties and adapt proper risk management strategies.


 Congratulations to Chairman Porter!

The Economy

A recent report from the Brookings Institute ranked Greensboro 212th out of the world’s largest 300 metropolitan areas. The report also indicated Greensboro was still in a recovery from the Great Recession with employment still 22,000 less jobs than pre-recession levels.
 The mass exodus of manufacturing jobs over the last several decades, to the tune of approximately 90,000 jobs Triad wide, has certainly had a negative impact on the overall economy in the Triad. While governments and economic developers have made efforts to bring development to our region, the Brookings Institute report points out where we are, in a recovery.

Now that the “bad” news is out of the way, there are numerous positive happenings in our area. Two that, if either worked out, would be game changers for the region.


 (1) After years of work by our airport authority, funding has been approved and construction started on an air bridge over future highway 73, allowing for access to almost 1,100 acres of on airfield manufacturing. This site would be one of a very few available in the country and with construction underway on the bridge will now allow prospective companies to have the confidence to move forward with site evaluation.


 (2) The Randolph County “megasite” presents an opportunity for a automobile manufacturer to locate in the Triad. Under the guidance of Jim Melvin, President of the Bryan Foundation, there is now enough suitable acreage for a plant. As seen in our neighbor, Greenville, SC, these plants bring significant development to the entire region in which they are located. It is estimated that the BMW plant in Greenville has created 45,000 jobs in the region.


 Let’s hope at least one of these opportunities, or a number of other smaller endeavors works out for our region! We are poised for growth.

Price & Condition

Price and condition are the only 2 things that determine whether an investment property is vacant, or not. The last edition of our newsletter contained a section on the market where we correctly predicted softness in the market, which occurred.

November 2014 was one of the slowest, in terms of leasing velocity, we have ever seen; however, thanks in large part to us being in tune with the market and making corrections, December was slightly above our estimates.

Going forward it is important to remember price and condition, our market has spoken loudly in this matter. With the onslaught of new rental product over the past few years and continued stagnant economy, the market has never been more crowded. If a property is not in excellent condition and priced in line with the market, it will most likely not rent in a reasonable time, if at all.

Market Statistics

Service Announcements

Toll Free Direct Number: Our clients can now simply dial a toll free number 1-844-5CLIENT (525-4368) to be routed to our entire Client Services Team. If someone is available your call will be answered, if you get our client voicemail please leave a detailed message so we may return your call as soon as possible. Do keep in mind that our Client Services Team is always on the go!.

Owner Web Login: Our industry leading owner web login on our website is our clients' link to their information. Here is a sample of the information that is available by logging into your secure account on our website:


    • Account Balance
    • Open Payables
    • Open Receivables (has my tenant paid)
    • Service Issues
    • Posted Invoices


 Operating Schedule: Our regular operating hours are Monday to Thursday 8:30am-5:00pm and Fridays from 8:30am-4:00pm. Please note that we have a weekly team meeting, typically on Thursdays, until approximately 10:00am. Our next scheduled office closing will be Friday April 3, 2015 in observance of Good Friday..

Our Mission

Our mission is to offer personalized and professional service to both our clients and customers by building strong relationships, utilizing the latest technology, implementing effective marketing strategies, following consistent systems all with honesty and integrity throughout every facet of our business.