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Keeping cool this Summer

Advantage Property Management knows that things are heating up in Memphis, and we know you want to stay ahead of the heat. Here are some tips for keeping your rental home’s HVAC system working correctly over the summer!

 

Step 1: Check your thermostat’s batteries – Often this is the first and last place people need to go when their system is malfunctioning.

Step 2: Change your air filter out Monthly – Although it is required per the lease agreement with Advantage Property Management, there are other excellent reasons to change your filter. Not only does it keep your air clean, but it protects the system and helps it keep you cool. Dirty air filters can cause damage to the system, or even keep it from running altogether. Yuck!

Step 3: Check your condenser and make sure it is free of debris – Clean it out regularly. There are many approaches to this, (google ‘Condenser Maintenance’), but even going over the outside lightly with a broom can make a world of difference. Make sure there are no bushes or weeds growing into them as well. 

Step 4: Keep your pets away from the condenser – Did you know that pet urine could cause a unit to short out and stop working altogether? Make sure your condenser is safely away from unattended pets.

Step 5: Look for frozen pipes – If you find this, you may need to set the thermostat to off, check all the above steps, and wait for it to defrost. If you take care of the above and find that the unit is still not cooling, and still freezing then it may be time to cut the power back off and call Advantage Property Management.  

New investment property for sale in Memphis!


3368 Guernsey Ave

Memphis, TN  38122

 

  • Purchase Price:                            $53,000                                                 
  • Current Market Value:              $55,000-$60,000                
  • Current Market Rent:                $667.00                                   
  • Property Taxes for City:            $241.27                             
  • Property Taxes for County:      $303.11                          

                                                                       

Monthly Cash Flow Breakdown:  

  • Principle & Interest:                            $230.00  (based on 20% down, 4.75% Rate, 30 Year term)     
  • Taxes Monthly:                                      $45.37  
  • Insurance Estimated Monthly:         $40.00
  • Property Management 8%:                $53.36

MONTHLY CASHFLOW:  $298.27

 

This property is a 3 bedroom and 1 full bathroom home.  It is approximately 1200 square feet.  This property is in a great rental area. It has quick access to the highway for tenant convenience when traveling to work or other areas of the city.  Currently occupied by very stable and long term tenant.  Tenant moved in February 2018.

 

 Home has been recently renovated and updated and features the following updates:

  • New roof 2017                                            
  • Interior and Exterior painted 2017 
  • New flooring throughout 
  • New sliding glass door
  • New Fans in LR and Bedrooms
  • All new lights throughout
  • All new kitchen cabinets
  • New Security door
  • Two new A/C window units complete with security cages
  • Brand New Furnace
  • Large Yard
  • Extensive updated plumbing
  • Electrical work completed
  • New Hotwater Heater

*Homes purchased through Advantage Property Management will receive an 8% property management fee for the purchased property, instead of the standard 10%.