At TrustArt Realty, transparency and proactive communication with our investors are our top priorities. Every year, we host an Annual Owners Meeting to review the performance of our property management portfolio, discuss changes in the Philadelphia rental market, and provide our clients with a strategic roadmap for the year ahead.
Watch the full recording of our recent Annual Owners Meeting below, or read on for a quick summary of the key topics we covered.
State of the Philadelphia Rental Market
During the meeting, we took a deep dive into the macroeconomic factors affecting landlords today:
- Rental Rate Trends: An analysis of current rent growth, neighborhood demand shifts, and how to price your units competitively to minimize vacancy.
- Inflation & Maintenance Costs: How we are aggressively negotiating with our vendor network to keep maintenance and repair costs down despite national inflation on materials and labor.
- Leasing Speed: The strategies our leasing team is using to attract highly qualified tenants, conduct thorough background checks, and get vacant properties occupied faster.
Compliance and Legislative Updates
Philadelphia has some of the most complex rental laws in the country. We reviewed recent changes to city compliance requirements, including:
- Updates to the Lead-Safe Certification requirements and what it means for properties built before 1978.
- Rental License Renewals: Ensuring that your Commercial Activity Licenses (CAL) and tax clearances remain in perfect standing to avoid costly L&I violations.
Operational Improvements at TrustArt Realty
We are constantly upgrading our technology and processes to serve you better. We highlighted new features in our owner portal, streamlined financial reporting, and our continued commitment to maximizing your Net Operating Income (NOI).
Are you an investor looking for a proactive, transparent property management partner in Philadelphia? Contact TrustArt Realty today to schedule a free portfolio review!
