New Haven Connecticut Needs A Nexus Property Management™ Office!
Nexus Property Management™ has established itself as the leader in Property Management in Southern New England and while beginning to expand its franchise concept nationwide, the company has highlighted New Haven, Connecticut as an ideal location for the next Nexus™ Franchise. Similar to Pawtucket, RI, where Nexus franchise headquarters is located, New Haven was a bustling mill city that gradually created a dense, diverse living demographic. New Haven is the cultural center for the Nutmeg State and has the distinguished honor of being the first planned city in the U.S. New Haven is not only the home of Yale University, but also numerous hospitals and financial services that are attracted to the opportunities the city presents. An additional opportunity exists for real estate investors once the Nexus Property Management™ model is applied to this thriving city.
Apart from the art scene and restaurants that anchor the coastal city’s personality, New Haven is a great location for a Nexus franchise because of its size (it’s the second largest city in the state) and a high percentage of its homes are multi-unit apartments. The city itself is home to almost 130,000 people with almost 40,000 rental units, but the Greater New Haven municipality has a population of about 860,000 people. While Nexus’ time-tested approach to property management can be applied to all types of property successfully, the greatest vehicle for improving investors’ portfolios lies in multi-unit buildings. Multi-family homes typically provide the greatest opportunities to add value for property owners and similarly these areas are in the greatest need of property management. As noted above, these buildings are highly abundant in and around New Haven.
High Percentage of Multi-Family Housing Units.
In neighborhoods like Fairhaven and Wooster Square, over 90% of houses are multi-unit buildings. East Rock, which is home to mostly Yale students, staff, faculty, and other young professionals has roughly 82% multi-family housing. Further south, 99% of homes in Long Wharf fit this criteria. There are also sizable and similar opportunities in nearby areas such as West Haven (54,500 people/10,000 rental units), Hamden (61,125 people/8,600 rental units), and Milford (53,000 people/5,400 rental units). In short, the abundance of multi-family properties in and around this area creates a demand for skilled property management that only Nexus™ can fill. A Nexus Property Management™ franchise located in New Haven could create an immediate opportunity for real estate investors.
The Nexus model of specializing in densely populated and potentially undervalued areas is ideal for New Haven and its roughly 40,000 rental units*. For the sake of comparison, Pawtucket, Rhode Island, which houses Nexus’ first and most successful location, is home to just over 18,000 rental units. Nexus™ Fall River, which is outperforming expected growth rates, operates in a city with about 28,000 rental units. New Haven is not only ideal in its infrastructure and density, but its size could facilitate more and more profitability for the opportune franchisee.
Proven Business Model With Extreme Scalability.
A Nexus Property Management™ franchise is a great investment for many reasons. The model is built for efficient scalability via low startup costs and minimal overhead. These factors decrease potential hardships, and enable franchisees to grow their business at their own pace. In addition to unrivaled leasing, maintenance, and management services, Nexus™ also separates itself from the competition through unique services like their Nvest® buyers’ agency program and Rent4U® tenant placement services. Franchisees will benefit from professional training and support along with exclusive use of Nexus’ educational platform, proprietary and privately labeled software, lifelong SEO/Adwords campaigning, social media management, and industry-leading advertising strategies. To find out more, visit NexusPropertyManagement.com or call at 888-NEXUS-55.
Mick Lefort is the Vice President of Operations for Nexus Property Management™. A National Property Management Franchise that manages all types of rental property from single family homes or condos to large apartment buildings and complexes.
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*Number derived from US Census data (Housing Units April 10, 2010 / Owner-occupied housing rate percentage 2012-2016 inverse)