Renters Warehouse Acquires Las Vegas Property Management Firm, More Than 800 properties
Las Vegas, Nevada (PRWEB) November 14, 2016 -- Renters Warehouse is proud to announce the acquisition of Rockbridge Group’s Las Vegas operations, bringing 811 new properties under the Renters Warehouse umbrella.
This acquisition gives Renters Warehouse a huge presence in the Las Vegas market, a hotspot for property investors where nearly half of residents are renters.
"Transactions like this allow us to scale quickly, as Renters Warehouse now manages almost 1000 properties in Las Vegas,” says Kevin Ortner, CEO of Renters Warehouse. “It gives us a larger footprint in Las Vegas, which has been a big market for investors for more than a decade. On a broader scale, it also helps us expand our west coast operations significantly."
Renters Warehouse is one of the largest, best reviewed and most awarded residential property management companies in the U.S., managing more than 17,000 homes for over 12,000 investors across the country, and about $3 billion worth of residential real estate. Renters Warehouse is also now investing behind its new Portfolio Services Division that uniquely serves larger, mid- to institutional-level real estate investors with both centralized services and local market expertise and staff.
"The acquisition of Rockbridge and seamlessly integrating 811 units into our system at once proves once again the power of our centralized service offering,” says Ortner. “Acquiring Rockbridge demonstrates our ability to execute on our rapid expansion and growth plans. Our Acquisitions and Portfolio Services division, led by Anthony Cazazian, will be busy in 2017 continuing to grow the Renters Warehouse footprint."
Mike Ankoviak, Market Leader for Renters Warehouse in Las Vegas, says the Rockbridge acquisition is a sign of things to come, while the level of individualized service and value that Renters Warehouse brings to the local level will never change .
“Investors from around the country and globe have a presence in the single-family home market in Las Vegas, so this takeover positions us for tremendous future growth,” he says. “We are pleased to have property owners with the Rockbridge Group join the Renters Warehouse family and look forward to providing them with our five-star management services.”
Las Vegas was among the hardest hit areas of the country during the 2008 recession. In response, investors flocked to the city, scooping up homes, and pushing prices up at one of the fastest rates nationally. A recent Associated Press story points out that nearly half of Las Vegas now rents, compared with less than 40 percent a decade ago.
Renters Warehouse is the ideal choice for large and mom and pop property investors alike, bringing professional, scalable and efficient single-property management solutions with both centralized services and local market expertise and staff.
Visit http://www.renterswarehouse.com to find out more about our signature Free Home Rental Price Analysis, Free 18-month Tenant Warranty, and low, flat rate 24/7 Property Management at just $89 per month in Las Vegas.
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About Renters Warehouse
Renters Warehouse is one of the fastest growing and highest reviewed residential property management companies in America, and the largest in Minnesota. Backed by growth equity investor and majority stakeholder Northern Pacific Group, and under the leadership of President and CEO Kevin Ortner, Renters Warehouse now manages more than $3 billion in residential real estate, servicing 12,000+ investors across 17,000+ residential homes in 32 markets and 18 states. NPG Managing Partner Scott Honour, who in 1999 was a founder of YapStone, a leading online rental property payment service provider, serves as Chairman. Renters Warehouse expertly serves everyday single-property homeowners as well as real estate investors. In 2015, the company officially trademarked the term Rent Estate™ to redefine the entire SFR (Single Family Rental) industry as more traditional real estate gives way to this new lucrative asset. Through their dedicated Portfolio Services Division led by Chief Investment Officer Anthony Cazazian, the company also brings professional, scalable and efficient single property management solutions to investment portfolios with both centralized services and local market expertise and staff. Not only has Renters Warehouse received the prestigious honor of being included on the Inc. 500 | 5000 list of fastest-growing privately held companies in America seven consecutive years in a row, it was also named one of the “Best Places to Work” in Minnesota (where they are headquartered) by the Minneapolis St. Paul Business Journal in 2010, 2011, 2012, 2014, 2015 and 2016. The company was also honored as a best place to work in Arizona (a centralized corporate services center) by the Phoenix Business Journal in 2013 and 2014, and achieved a spot on the prestigious 2016 Top Companies to Work for in AZ list. Nationwide, Renters Warehouse has been honored as one of America's "Best Places to Work" in 2012, 2014, 2015 and 2016 by Outside Magazine. Recognized as pioneers in real estate, business management and innovation, Renters Warehouse has been awarded 22 Business Stevie Awards both internationally and stateside. In 2016, Morningstar Credit Ratings, LLC, a nationally recognized statistical rating organization (NRSRO) offering a wide array of services including operational risk assessments, assigned its MOR RV2 residential-vendor ranking to Renters Warehouse as a residential property manager, indicating that the company demonstrates proficiency in managing key areas of operational risk.
Eric Lewis, Onboardly (on behalf of Renters Warehouse), +1 5068661393, [email protected]
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