Earlham College Rentals Under New Management

Recently Renaissance Properties & Earlham College entered into a partnership that will benefit both organizations.

I've written a bit recently about the services that Renaissance Properties offers, or what to look for in a property management firm. Now it's time to turn our attention to a different organization here in Richmond. Earlham College.

Earlham College is known as a nationally respected, liberal arts college with an emphasis on hands-on teaching, experiential learning, and international study. And now it's known as an owner who has hired Renaissance Properties Management to manage their many rental properties. Regarding these properties, did you know:

 
  • Earlham College has about 60 rental units
  • Nearly all of them are adjacent to their campus on the westside of Richmond.
  • There are about 10 houses and 50 apartments.
  • Most of the houses are beautiful historic homes with interesting architectural features
  • The Campus Village Apartments are all electric, ranch-style units and come in 1, 2, 3 bedroom configurations.
  • Campus Village Apartments are in a green lot with mature trees right by the Randel R. Sadler Stadium, the Earlham Equestrian Center, and nearly 600 acres of Earlham woods, streams, ponds, walking trails, and wildlife.

    The folks at Earlham College - whose main focus really should be education - decided they would be better served by having a property management firm handling their rentals and accepted our proposal. Our two main goals for the Earlham College rental properties are 1) to be a profitable, worry-free business unit for the college, and 2) to provide great, safe, well-maintained places for tenants to live. We plan to do this in the following ways:

    1. We are the main point of contact for tenants from first inquiry, to application, to lease, move-in, and all the way to move-out.
    2.  We have taken over day-to-day maintenance, so take all the calls, big & small, and coordinate responses & solutions with timeliness & efficiency.
    3. Many units have not seen updates recently so we will coordinate systematic updates focusing on new flooring, paint, counters, and appliances.
    4. Finally, the goal is to bring the rents for these units up to market rate. Earlham College rentals have been under charged for years, and while this has been a boon for tenants, it has proved unsustainable for the college. If we at Renaissance Properties do our job well, then this portion of Earlham College’s investment portfolio will be successful.

    We are working to add a great new page to our website to highlight these rentals. Check out the current Earlham College Rentals page on our website. In fact, check back often to see both our updated page and some of the restoration work we are doing on the Campus Village Apartments. And, contact us if you are interested in seeing any of these great units.

     

     

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