WINCHESTER, Va. — Coldwell Banker Premier has started a property management division, providing full-service leasing, financing, preservation and management throughout the northern Shenandoah Valley of Virginia, the Eastern Panhandle of West Virginia and Western Maryland.
“We’ve evaluated the market and found that there was a critical need,” Steve DuBrueler, Coldwell Banker Premier’s founder and CEO, said in a news release.
The service offer features such as quarterly inspections, electronic funds transfers and an annual financial evaluation that includes financing options to increase returns for property owners.
DuBrueler said the business is identifying investment-grade properties that will help real estate investors grow their portfolios and help bridge the affordable housing gap.
With an average of more than 5,000 residential homes that are not owner-occupied in each county in the region, there is a substantial need for services to assist property owners and tenants, the company stated in the news release.
An average of 19 new rental properties are becoming available each month in the MLS per area. At an average market rent of $1,275 per month, there is a large gap in supply and demand.