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Slated Growth in 2019
January 4, 2019
PRESS RELEASE FOR IMMEDIATE RELEASE
HALIFAX RENTALS LOOKS TO GROW IN 2019
Akron, OH - Partners of Halifax Rentals are watching Akron real estate and expect more homes to hit the market in 2019 and beyond at favorable pricing reminiscent of the early 2010’s.
They predict this increase in inventory as a result of a downturn in National and Global economies as evidenced in the slumping stock market.
The partners agree that it will be time to buy and expect for some nearly turn-key properties to be picked up around a $15,000 target price.
The ability to find labor to help rebuild the houses continues to be a struggle, which could stunt growth for Halifax unless dependable contractors can be retained.
“We’ve spent considerable time trying to develop new relationships with contractors the past two years. The disconnect between what we expect and these service providers seems to be growing,” says Kurt Seifert, President of Halifax Rentals.
“Halifax has been successful over the years because we ‘say what we’ll do, and do what we say.’ There is no time to B.S. our customers. We rely heavily on our tenants’ happiness with our initial product and continued services, and can’t afford to have a contractor give us a substandard install or service experience.”
Halifax’s retention rate of both student and non-student rental related tenants is very good says Seifert.
“Word of mouth advertising is our favorite source of new business. Unfortunately we often can’t accommodate new referrals due to being one hundred percent occupied,” he said.
Halifax did not purchase any new homes in 2018, instead it shed a multi-unit property and a vacant lot to free up more cash for future purchases. The Company did close on several vacant City lots adjacent to current properties they owned.
“We are excited to enter 2019 in a position ready to seize opportunity,” he said. “You never know when one, or five houses will come on the market. We are always looking for a value.”
Halifax Rentals is the managing Company for Halifax Development, Halifax 673, Patriot Land Holdings, and Zips Rentals. Since 2004, Halifax has been purchasing, rehabbing and renting out houses near The University of Akron, and expanding into the surrounding areas, primarily South of campus. If you can help with the purchase of properties, or can recommend licensed, or unlicensed contractors and handy persons, please contact Kurt Seifert with Halifax at 234.281.2947, firstname.lastname@example.org, or find out more online at www.halifaxdev.com.