Stress Free Orem Property Management
Owning a residential rental property can be a lucrative investment, but it also carries with it its share of headaches and worries. Finding a skilled Orem residential property manager can save you a lot of time and money.
With our full service Orem property management, you get much more than just one over-worked property manager. You get a full team of skilled professionals with the expertise to provide you with the highest level of service and the maximum return on your investment.
SINGLE FAMILY PROPERTY MANAGEMENT
Our Orem area property managers will safeguard your property, manage your tenants, and protect your investment, all without you having to lift a finger. You'll be amazed at how much time and money our residential property management services can save you in both the long and short term.
MULTI-FAMILY PROPERTY MANAGEMENT
Our Orem apartment property management services include all necessary maintenance, tenant screening & management, and regular property inspections. Whether you own one unit or many in an apartment building, our Orem property managers can handle it all.
What We Do As Your Orem Property Manager
We do more than just collect rent - 5 steps to successful management.
SEE WHY OUR CLIENTS COME BACK TIME & AGAIN
Orem is the 5th largest city in Utah, 97,828 residents call it home. Orem is about a 40 minute drive south of Salt Lake City. It is very close to and shares a large border with Provo, which is the 3rd largest city (map link). Together the Orem/Provo area is the largest metro area of Utah County. Notable establishments in Orem are Utah Valley University https://www.uvu.edu/, the Orem Owls https://www.milb.com/orem, SCERA Center for the Arts https://scera.org/, and close proximity to Provo Canyon and Sundance https://www.sundance.org/.
Why invest in Orem
- Potential tenants. Orem is an older community, for Utah, with a diverse property inventory. The inventory of properties is 59.6% owner occupied. So, there are plenty of potential tenants moving to Orem looking for a rental. That being said it is more competitive to operate a rental so stick to market rate rents and make sure your rental has average or better amenities.
- Lower priced inventory. Because Orem has old and new and a diverse range of property types it could be a great place to get started with a lower priced rental property to get started.
- If you are interested in college rentals with the growth of Utah Valley University and the proximity of Brigham Young University there are great opportunities for student rentals.
- If you are looking to put in some sweat equity into a property, Orem is a great place to look with properties ages starting from the 1950s.
- Average rents of $1,375 in Orem
- Gross Yields of 4.63% which are similar to Provo but lower than Northern Utah County and some areas of Salt Lake County. A Gross Yield of 5.25% is good cash flow. A Gross Yield of 7% is outstanding cash flow for Utah.
- Take slightly longer than average to fill a rental because of the high amount of competition in Orem/Provo.
- Alternative cities to take a look at Springville for lower price inventory but faster filling of vacancies. For high yields and higher property prices look at Northern Utah County.
Unique laws/Property management tips in Orem
- Tenants are not allowed to put utilities in their name in Orem.
- Similar to Provo, newer legislation in Orem is becoming more restrictive for utilities and zoning.
- Orem has a high degree of educated residents with 92.4% having a high school diploma and 38.7% with a college degree.
- Orem is growing by about 2.46% per year.
- The median household income of residents is $61,373.
- Orem’s property inventory is diverse with many different property types from multifamily, single family, condo, and townhomes. For the most part multifamily properties in Orem are going to be built in the 1970s and 1980s.
Tourist things to do
- Provo canyon