Company Description
This occupied 3 bed 2 bath home has been completely renovated from the ground up and is located in Memphis, Tennessee.
This property has been rented to the same tenant since April 2020.
The tenant was on a month-to-month starting in September, 2021 and recently signed a 1 year lease until 5/6/2023. They are paying $830/month.
Updates:
Update 5/6/2022 - The resident has accepted a 1 year lease renewal at $830/month. This is a 5.3% increase from their previous rental rate of $788/month.
Update 7/22/2022: This property has officially migrated over to the new Property Manager, HomeRiver Group, based on the results of the prior governance vote. HomeRiver Group charges a lower Property Management fee of 7%, which results in an increase in the CoC return of this property.
Update 8/18/2022: The Property Management fees have been reduced to 5.7% due to a new National Partnership Agreement between Lofty and the Property Manager, HomeRiver Group.
