Real Estate Associates, Inc.
Durham, NC 27707
Ralph Waldo Emerson once wrote, "No man acquires property without acquiring with it a little arithmetic also." Obviously, Emerson knew that the purchase of property is just the beginning. That's why investors choose to work with Real Estate Associates to manage their properties--making sense of the arithmetic and creating value through property management is our expertise.
Whether you own a single-family home or a multi-family apartment community, a single-tenant commercial building or an office or retail center, the joy of property ownership is followed by the job of property management. REA handles all of this and more for our clients as part of our turnkey service--from marketing to maintenance, from legal to leasing, from rent collection to reporting.
This is what we will do for you:
- Conduct a complete analysis of your property--financial history, the market area, tenant demographics, a look at current and long-range trends, and a complete on-site examination.
- Identify opportunities and concerns--areas of potential income not currently reflected in your bottom line and concerns or issues that need attention (e.g., adverse changes in the area where your property is located, a necessary repair, and everything in between).
- Create a management planspecific to your property based on the analysis and your input on the opportunities and concerns that have been identified. The management plan addresses ways to:
- Enhance your property for optimal appeal,
- Maximize occupancy by marketing to and attracting quality tenants,
- Increase income with the goal of delivering the highest possible net income,
- Increase tenant satisfaction in order to improve retention,
- Decrease expenses through use of in-house expertise and cost-conscious management, and
- Facilitate communication, solidifying tenant relationships.
- Implement the management plan and continue to look for ways to create value by identifying new opportunities, adjusting our management plan based on changing market conditions, or taking steps to reduce risks and prevent new issues from arising. This stewardship of your real estate asset and your resources is a key part of what sets REA apart from our competitors.
While purchasing a property is a "one-time" transaction, property maintenance is an ongoing responsibility. REA clients have full advantage of our internal Service Department, a team of experienced professionals with expertise in all areas of site and physical plant maintenance. This group includes an in-house general contractor/developer with the knowledge to handle any real estate issue. To say we know maintenance "inside and out" would be an understatement.
All of this works to your advantage whether you are a new or seasoned investor. Maybe you have managed the property on your own and are ready to let go of the responsibility. Perhaps your current management company has not lived up to expectations. That's the exact point when we have started a relationship with many of our clients and the reason they call us "the turnaround specialists." There is nothing we enjoy more than doing the legwork and the hard work to turn an underperforming property into a high performing asset.
Hardly a day goes by that I don't talk with someone from REA. Hardly a day goes by that I'm not thankful they manage our property. - Nello Teer III
Our experience with Real Estate Associates has exceeded all expectations. Their leasing staff has been innovative, energetic, thorough, and responsive. At every juncture their actions have reflected a total commitment to the success of our project. We could not be more pleased. - Gary Wallace, Indigo Corners LLC
The experience I have had with REA in the management and leasing of Indigo Corners has been extremely good. Their team of professionals is responsive, competent and enjoyable to work with. I have worked with other brokers and managers in the Triangle and believe me, I’m glad we found REA. They are definitely the best at what they do. - Bill Ford, Ford Commercial LLC
Whether assisting me with my real estate business or advising me on the proper equipment for backpacking our National Parks, the Real Estate Associates team has advised me well over the past 10+ years. I have worked with REA on a number of transactions in various capacities including purchasing land for a homebuilder, and purchasing and leasing a commercial property for my own account. Their team has provided excellent advice and support to me over the years, and I am privileged to call them friends. - Lee Bunn
I strongly recommend Real Estate Associates. I’ve been doing business with them for at least 20 years and I’ve been very satisfied. They have always been very helpful. - Lucy Gibbs
Real Estate Associates has handled the rental of my house in Durham for the past four years. They have done a first-class job of getting the property advertised, vetting potential renters, and managing the whole process. Given that I live hundreds of miles away from my rental property, it is comforting to know that the folks are REA are there to handle anything that comes up with the rental property. I highly recommend REA if you have a property to rent and need someone to manage it for you. - Richard Edwards
During the 1980s while living in New Jersey, my wife and I decided to invest in income property. Our initial attempt was a bad and losing experience...We then decided to purchase rental properties in Durham, NC. Initially, the experience was similar, however to a larger degree--we nearly lost three properties...During that time, a family member was residing in a multi-dwelling managed by Real Estate Associates. He was aware of our dilemma. He suggested that Real Estate Associates was recognized as the most reliable and resourceful management company in Durham...Real Estate Associates has now managed our properties for 23 years. We acquire good tenants and good property management, which is the recipe for success. - James and Linda Summerville
- In business under this name: 53 years
- Company size: 20 to 50 employees (full time)
- We manage the following property types:
- Single Home or Condo (valued under $250k)
- Single Home or Condo ($250 to $500k)
- Single Home or Condo ($500k to $1 Mil.)
- Single Home or Condo (Over $1 Mil.)
- Homeowners Association (2-49 units)
- Homeowners Association (50-99 units)
- Homeowners Association (over 100 units)
- Condominium Association (2-49 units)
- Condominium Association (50-99 units)
- Condominium Association (over 100 units)
- Multi-Family (2-4 units)
- Multi-Family (5-19 units)
- Multi-Family (20-99 units)
- Multi-Family (over 100 units)
- Office (under 9,999 sqft)
- Office (10,000 - 125,000 sqft)
- Office (over 125,000 sqft)
- Retail (under 9,999 sqft)
- Retail (10,000 - 125,000 sqft)
- Retail (over 125,000 sqft)
- Warehouse or Distribution (under 125,000 sqft)
- Warehouse or Distribution (over 125,000 sqft)
- Manufacturing (under 125,000 sqft)
- Manufacturing (over 125,000 sqft)
- We manage properties in: