At 208.properties, we often use and see three important letters: CRP.
So, what exactly do the letters CRP stand for, and what does the process entail for our landlord and investor clients? We’re talking about that today so you can understand what we do to ensure you’re receiving the best possible service from our talented property and investment management team.
Understanding the Meaning of CRP
CRP stands for Client Review Process. It’s one of our standard operating procedures that enables us to bring greater value and higher standards to the investors we work with. You want to know how your property is performing and whether there are things we can be doing to help you earn more and spend less on your rental property. The CRP we work with helps everyone have a better investment experience.
There are three stages during our Client Review Process:
All three of these stages are uniquely important in the process of acquiring and managing rental properties in Boise.
CRP: The Evaluation Stage
The first part of our Client Review Process is the evaluation stage. Everyone knows what evaluation means, and when we talk about evaluation as part of our CRP, we mean transparency. We want to take a look at the property and make sure we can understand exactly how it’s performing. We want this asset to be a valuable part of your portfolio, so we’ll evaluate its performance and determine what’s working and what could improve.
CRP: The Implementation Stage
The implementation stage speaks to the longevity of any asset. We take steps and make decisions that are based on your short term and long term plans for the investment. We’ll consider how long we want to hold this asset. We’ll also talk about when it might be a good idea to liquidate it in order to earn a healthy profit. The goal of the implementation stage is to capitalize on as much ROI as possible.
CRP: The Review Stage
Finally, we participate in a review stage. This one is pretty self-explanatory. During this part of the process, we talk and meet with our homeowners. Every year, we get together to discuss the portfolio and make some adjustments to reflect shifting investment goals and financial priorities.
What Our Networks Have to Say
Gwen Swan, a loan originator at Waterstone Mortgage, works closely with us at 208.properties in order to help her investor clients identify which property is going to give them the best return on their investment once that first payment is made.
Our role with Gwen’s clients is to work up a rental analysis and give the client the hard numbers of what they can secure in rent from particular tenants on particular properties. Then, Gwen will give her side of the mortgage numbers. She’ll talk about what the monthly payment will be depending on your down payment and the interest rates you’ll have to expect.
It really is a team effort on behalf of our clients. All the information is provided so the client can invest confidently in the Boise rental market.
If you’d like to talk more about our Client Review Process, please contact us at 208.properties.