Meridian Property Management, LLC (“MPM”) is a subsidiary of Meridian Pacific Properties, Inc. and offers an exclusive, high-end rental property management solution for investors and tenants in Memphis, TN. MPM specialize in leasing and managing premium investment properties located in established, family-friendly neighborhoods primarily in the Bartlett, Cordova, Germantown, and SE areas of Memphis, TN. Meridian offers both residential and commercial property management services.
Formed in the spring of 2012, MPM was developed specifically for RE investors by applying investor business principles to property management to maximize ROI and control vacancy and maintenance experiences. Currently MPM manages over 400 SFR investment properties in Memphis, TN as well as a 128-unit, 10-story highrise apartment building in the downtown medical district of Memphis.
Through this brand, Meridian has created a customer service based offering to ensure long term relationships and managed returns for our valued investors. The Meridian family of companies is built on a culture of continuous improvement, personal and company responsibility, integrity and excellent customer service.
Meridian Property Management duties include.
- Qualifying, screening and tenanting property
- Maintaining good relations with tenants and owner
- Digital and hard marketing of all properties and managing leasing teams
- Maintaining the property and minimizing maintenance expenses
- Collecting and dispersing all rents
- Creating financial reports and maintaining owner rental payments
The property manager carries out the goals of the property owners. In the process, the property manager is responsible for maintaining the owner’s investment and making sure the property earns income. These goals can be accomplished in several ways. The physical property must be maintained in good condition. Suitable tenants must be found, rent must be collected, and employees must be hired and supervised. The property manager is responsible for budgeting and controlling expenses, keeping proper accounts, and making periodic reports to the owner. In all of these activities, the manager’s primary goal is to operate and maintain the physical property in such a way as to preserve and enhance the owner’s capital investment.Rental Management Services
Meridian believes that to be a successful property management company there are three key areas in rental management services where we must excel. These focuses for our client service model are:
Control Vacancy and Maintenance: These two variables have the greatest impact on an investor return, thus in order to minimize these risks MPM employs the following strategies:
- Screen tenants rigorously with financials requirements based on debt-to-income ratio, not simple rent to salary ratio as well as secure the longest leases possible for our investors
- Manage inventory of only select , high quality properties in desirable locations
- Track performance on all MPM properties– any vacancies and repairs are followed weekly and transparent to entire Meridian company
- Perform constant market analysis – consistent review and feedback on what properties/features/zip codes provide the highest ROI to our investors
- Conduct preventative maintenance and scheduled physical inspections (includes tenant upkeep feedback, AC filter replacement, smoke detectors check, tree trimming and other preventative maintenance)
Excellent Communication: MPM communicates early and often to our investors on any and all property management issues to allow for proactive and interactive resolutions.
Provide Clear Owner Statements – MPM provides clear monthly statements and online portal solutions for each investment property in the MPM portfolio.