You've found the perfect multifamily property in Chattanooga or Hamilton County. The numbers work, the location is solid, and you're ready to close. But purchasing the property is just the beginning – now you need to decide how to manage it.
With a collective 30 years of property management experience, our team sees the same story play out all the time: enthusiastic new owners quickly discover that managing multifamily properties requires more time, expertise, and systems than they anticipated.
Why Not Hire an Individual?
Hiring a single person leaves serious gaps — what happens when they're sick or on vacation? A recent survey found professionally managed rentals using management software stay empty an average of 4.5% of the time, versus a 9% national average. Professional managers also have vendor relationships that save on maintenance costs, and stay current on fair housing laws, eviction procedures, and lease requirements.
When to Make the Switch
Signs it's time: you have too many doors (6-8 units is already a second job), your properties are spread out (more than 30 minutes away), or your buildings are getting older and need more attention.
What Good Property Management Does
Reviewing comparable rents monthly, fixing problems before they get expensive through regular inspections, and handling the legal complexity of fair housing and lease compliance.
How to Pick the Right Company
Don't choose based on the lowest fee alone — ask about average vacancy rate, who handles after-hours emergencies, typical turnover cost, marketing approach, and whether you can talk to current clients with similar properties. Check reviews for patterns in maintenance and service, not just star ratings.
Case Study: Ledford at Hamilton Place
While managing 121 doors at Ledford at Hamilton Place, the team overhauled maintenance management, strengthened tenant screening, improved collections processes, and increased rental rates through targeted CapEx and renovation projects.
Why SVN | Second Story Is Different
Deep knowledge of Chattanooga's distinct submarkets, transparent monthly reporting beyond just rent collection, and a team ready to scale with 50+ door complexes and capital investments. Switching management companies is easier than most owners expect — the team handles tenant introductions, lease reviews, and vendor transitions within the first month.