X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Luxury apartment communities are becoming more management intensive, and as amenities and services become more common, the need for quality property managers is only increasing. Third-party property management firms can maximize asset value and play a significant role in increasing an investors ROI on an asset, according to Debbie D. Willis of Phoenix-based P.B. Bell. Luxury housing is on the rise in Phoenix, and it is creating more demand for quality third-party property management firms in the market.

“From common area amenities to individual unit maintenance needs, a quality property manager will keep a community in prime condition, maximizing its value,” Willis, president and designated broker at P.B. Bell, tells GlobeSt.com. “This, in turn, will bring higher rent potential for increased profit during ownership and a larger return once the investor is ready to sell.  Professional property management companies have vendor relationships that can provide discount or bulk pricing and can bring discounts from insurance companies. Professional property management companies utilize the latest software, which can provide key metrics to monitor maximum performance in both revenue and expenses.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.