The Nordstrom Group
Tucson, AZ 85718
What do we do? We maximize the return on your rental property investment through these services:
Professional Guidance: There is a lot to know about the nuances of landlord/tenant relations, laws, and the local real estate market. Through our resources and expertise, we provide you with relevant information which may affect the decisions you make.
Vacancy Rate: The Nordstrom Group, Inc. currently has a vacancy rate of less than 1%. This shines in comparison to the Tucson average of 4.7%.
Advertising: Our properties are advertised on our highly optimized website, Multiple Listing Service and syndicated to scores of rental websites, such as Zillow, Trulia, HotPads, Realtor.com, and Rently, etc.
Property Showings: Even though it costs us more, we know that it is far more effective and much more secure to have one of our agents personally show your property than by using a lock box, which gives access to your property to anyone with a credit card.
Tenant Screening: A comprehensive background screening is conducted which includes credit evaluation, employment, previous residencies, public records, and criminal histories.
Lease Preparations and Property Documentation: Our proprietary lease is very clear in establishing responsibilities of our tenants. We also record property conditions prior to tenant occupancies.
Reports and Owners Checks: You have access to your account information on-line via a secure web portal. Funds are delivered by ACH (direct deposited) into to your checking account on the 10th business day of the month. Year-end reports are provided with your 1099, tax ready for your accountant.
Inspections: Annual interior inspections are performed to identify maintenance needs.
Tenant Relations: Satisfied tenants are an important part of the investment equation. Our tenant retention is a very impressive 87%!
Maintenance: You will be consulted prior to expenditures over $200 except for emergencies or legally required repairs. We make no money on routine maintenance or repairs nor do we charge fees for obtaining bids. We do not operate an in- house maintenance company as profit center. We feel that to do so is a conflict of interest.
Evictions: Our eviction rate is less than one half of one percent. We take great care in the selection of tenants to keep it so. Some Property Management companies offer Eviction “insurance” at a price of $9 to $20 per month as a profit making service to their clients. This insurance only covers legal fees. Even though we would like to realize the profits, too, we advise clients to self-insure against this unusual eviction expense of $300-$350 and invest the money you save into your rental property.
The Nordstrom Group Staffing Structure: We manage over 640 single-family homes with a staff of 12.
- The Nordstrom Group Team: Our dedicated personnel are some of the most talented in the industry. When it comes to your investments, collaboration and experience really does matter!
- Property Managers: Our property managers oversee all aspects of your property’s operation.
- Leasing Department: Our leasing/marketing staff is devoted to personally showing your property. We do not give the public access to your property without an agent present.
- Bookkeeper: You get to see the results of these labors in financial activity displayed in the secure Owner’s portal, accessed on the Internet at any time that is convenient for you.
- Director of First Impressions: Our administrative assistant/receptionist has been with us for 18 years. Her role is to meet and greet and perform a wide range of administrative tasks.
- Associate Broker: Eddie Nordstrom, is our go-to manager. He executes in all areas of corporate administration and property management activities.
- Broker: Our Designated Broker, Debra Nordstrom, has been in real estate since 1976.
The Story of The Nordstrom Group, Inc.: After a successful career in real estate sales and many years in executive positions for regional real estate firms, Debra Nordstrom decided to launch something of her own. In 1991, she joined forces with partners, Max and Joan Cohen, with the goal of building a tiny collection of houses into “a couple hundred” properties. Sadly, the very early illness and death of Joan ultimately left Debra with the business and a new direction. In ways she did not imagine at the time, this singular occurrence set Debra on a course that has driven and inspired her for the last 26 years. Debra delivered on core values and kept her promises to the many people who helped The Nordstrom Group grow into the most highly respected property management company in Tucson with an unwavering A+ Better Business rating.
Our Fees: There are no gimmicks. There is no long list of ala carte service charges. No fees for bids or coordinating routine maintenance and repairs. There are just these four straightforward fees.
- Property Management Fees 10% deducted from monthly rent
- Annual Administrative Fees $200 per year
- Marketing $200 when rented; includesadvertising
- Lease renewals $100
Client’s Operating Reserve: $500 held for operating and repair expenses
Fees Charged to Tenants: There are other fees that we charge to tenants such as administrative and documentation fees, inspection or re-inspection fees, bounced check charges, late fees, etc. These appear on your operating statements as income and expenses, in full compliance with disclosure requirements.
- Company size: 1 to 5 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.)
- Multi-Family (2-4 units)
- We manage properties in: