Otherwise profitable investment properties may have hidden erosion factors that negatively affect the value of the property. KRS eliminates these risks via a comprehensive system to process transactions, prepare accurate reporting documents, and simplify tax season requirements.
KRS Holdings executes a four-step “checks & balances” strategy so you avoid investment attrition, financial mismanagement, and tax-time anguish.
Accounts Receivable Team
Solely responsible to collect rent to ensure you enjoy a steady stream of rental income.
Accounts Payable Team
Stay on top of paying invoices when due to protect your credit reputation and safeguard vendor relationships.
Accounting Management Team
Oversees all financial reporting to ensure all financial transactions are properly authorized and recorded.
As property owner, you will:
- 24/7 access to all property-related transactions via KRS online portal
- Save time and money at tax time providing easy access to your records by your tax preparer.
- Be provided a monthly profit & loss statement to reconcile income and expenses.
Bottom-line is you, the property owner, will enjoy peace of mind in knowing your investment property’s financial transactions and records are professionally managed and safeguarded. The convenience of all this is turnkey. KRS does the heavy-lifting-your efforts are only to review the data as you choose.
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Richmond’s residential rental housing market has been a boon for investors. In large part this continues as a function of a diverse economy hosting a stable mixture of government, financial, education and manufacturing sectors.
Additionally, a welcoming temperate climate plus access to a variety of outdoor activities along with social, cultural and educational offerings prove to be major attractions to retirees and millennials … two major sources of renters.
As the capital of the Commonwealth of Virginia, Richmond boasts a historically low unemployment rate of less than 3 percent and an annual household income of $50,000 … both evidence of a strong job sector. These robust figures have persisted in recent years resulting in residential real estate landlords enjoying current monthly rents hovering around $1,100 … reflected in annual rate increases of about 2.3 percent coupled with an enviable vacancy rate approximating 5.5 percent.
KRS Holdings, Inc. has specialized in Richmond property management for almost two decades. Be sure to talk to one of our local property managers before you purchase your next property to get rental analysis. Our team of dedicated agents are devoted to helping fill your vacancies, reduce turnover, and protect your investment of your rental property. Our guiding principle has always been to maximize the value of our clients’ residential assets, while we minimize their time commitment. It is because of this passion for property management that we now manage over 4,000 units over the commonwealth.