About Capital Property Management, LLC
As a leading provider of real estate and rentals with over 400 units in the Greater Fort Wayne area, we take pride in offering dependable management services and daily support for our clients and their renters. Our team is fully equipped to help clients handle every aspect of managing a rental home, regardless of whether they have one rental property or a full portfolio of rentals. Learn more about Capital Property Management, LLC of Fort Wayne, IN, today and discover why we are the trusted real estate management company in the area.
What We Do
Capital Property Management, LLC specializes in managing single-family homes, condos, and apartment complexes. Our full-service management approach is supported by an experienced team of brokers, licensed contractors, and on-site maintenance professionals who understand the needs of rental property owners and tenants.
Marketing is also a key part of our work. Our online listings reach major rental websites, including Zillow, Trulia, Rentals.com, and Apartments.com. We also use video walkthroughs, social media marketing, and search engine optimization (SEO) practices to help make our clients’ apartment complexes and other rental properties stand out. These targeted strategies help ensure each property reaches a larger audience so that our clients can find strong tenant applicants more easily.
Our Goal
We strive to help make your rental property investment a thriving success instead of a hassle. To do this, we handle the details that come with managing rental property while keeping owners informed and supported throughout the process.
Our Origin Story As Told by Our Company Owner
My earliest recollection of my real estate work experience was with my father scraping lead-based paint on an old house in Danville, IL. I was eight years old at the time. Later, we moved to Fort Wayne, IN, and my father bought farms. At 13 years old, I would work all day on those farms with my father. By the end of the day, we would then pick up rocks together. Although my father never spoke of it, he would always pick them up in denominations of one hundred. To this day, I count everything and never quit until I reach my mark.
I also recall completing my first real estate transaction years later when Judi and I were only just dating. This was when I had the opportunity to buy a one-bedroom house on Cherry Street in Fort Wayne. A church had inherited the property and priced it at $7,000. I didn’t have that amount of money yet at the time and was stressed about making the deal work. Judi encouraged me to make the purchase, and we have never looked back since.
My path in the real estate industry continued from there. Eventually, I was inspired to start a business of my own. In the beginning, the name of our property management company was Fred Orr Associates. However, as we grew and my stepson, Andrew White, and son, Aaron Orr, joined me, I sought a corporate identity that would transcend my goals and ambitions.
While stalled in traffic on 1-90 in Chicago, I watched a slow-moving train run parallel to the interstate and saw hundreds of container cars being transported on those tracks. Many company names appeared before me, but only one stood out. And thus, the name Capital Property Management, LLC was born.
Our Mission
After all our years, our mission has stayed the same: To build an enduring organization, to provide for the financial well-being of our clients, our families, and those who work with us, and to absolutely have as much fun as we possibly can in the process. We invite you to join us in that exciting endeavor.
Investment Strategy
Capital Property Management, LLC takes a long-term view of real estate investing. This is because we believe that investment accounts should be treated similarly to an S&P 500 Index Fund. While we know the importance of positive cash flow month over month, we believe the payoff is built over years of acquired equity.
Through many trials and tribulations, our property management company has discovered its niche in single-family homes built within the last 30 years. We define the ideal investment property as a 3-bedroom, 2-bath ranch home between 1,100 and 1,700 square feet, built on a slab. A recent census report shows that the average household in Indiana is comprised of 2.5 people. We believe our investment model works hand in hand with that statistic, supporting a practical approach to long-term rental housing.
Leases
Our standard lease term is 2 years. We offer 1 year lease terms at a $100 premium. Lease terms are an important part of protecting both the property owner and the rental investment. A general lease policy we recommend and implement is that the tenant’s security deposit may be used to cover the difference if damages, carpet cleaning, and vent cleaning exceed the total pet fees collected during their tenancy.
Turnovers
While our property management company strives to procure long-term tenants for our clients’ rental real estate, turnovers are inevitable. Turnovers are a double-edged sword, as your rental property will require maintenance and upkeep while not producing income. Even if a tenant takes excellent care of your rental property investment, an average turnover may cost anywhere between $1,000 and $2,000. Planning ahead can help you manage these costs more effectively when they arise. That is why we suggest setting aside 10% of a property’s monthly income specifically for turnovers.
Property Management Judgments
Judgments involving critical aspects of your rental property operations are an important topic for owners to review as part of their rental property planning. Because specific circumstances can vary, Capital Property Management, LLC will discuss this subject with the clients as it relates to their property, tenancy, and management needs.
Tenant Evictions
Tenant evictions are another important topic within rental property management. Since each situation may involve different details, our property management company will work closely with the real estate owners to review questions, concerns, and next steps related to a specific tenancy.
We’d Love to Hear from You
For more information about Capital Property Management, LLC and our services, feel free to contact us today. It would be our pleasure to answer any questions you may have about us and what we do.