Residential Property Management

Reed & Associates of TN, LLC is a residential property management company that offers two programs for prospective tenants. We offer the traditional Rental Program & a Non-Qualifying Lease Option to Purchase Program. We manage properties in Memphis, Shelby County, Fayette Co., & DeSoto Co., MS. Please review the information below and then give one of our licensed realtors a call.

The Non-Qualifying Lease Option to Purchase Program allows for the potential buyer/lessee to lease your home with the option to purchase it at any time during the lease period. It is an opportunity for the lessee to re-build their credit and potentially buy your home. They get credit for 100% of their option money down. Option money is the upfront down payment on the home and is usually between 2.5% to 4% of the purchase price. They also get 5% credit for each monthly payment at closing. If the lessee does not exercise their option to purchase and vacates the home then the option money down is forfeited. Monthly lease payments will increase 5% per year for the first 3 years. After 3 years, the payment will increase 3% per year.

Benefits of a Lease Purchase vs. Rental:

  • Upfront option money
  • Tenant's are responsible for repairs & maintenance
  • Tenant has the option to buy the home. We work with the tenant towards exercising their option on the home.

We will also:

  • Review a copy of their current credit report with them
  • Offer to send them through Dave Ramsey's "Financial Peace University"
  • Refer them to a local mortgage company when they are ready to purchase

Our management services are here to help eliminate the headaches that come with the managing of your property. We have seen time and time again homeowners and investors like your self, let large amounts of rent pile up to the point of chaos. We have been in business since 1992 and have been managing properties since 1997. We currently manage over 600 properties for about 60 different owners and we are fully staffed to handle your home.

Management Services include:

  • Computerized Monthly Reports
  • Property Rehab
  • Marketing & Property Leasing
  • Credit Counseling
  • Rent Collections
  • Handling the Eviction Process
  • Collection on Delinquent Accounts
  • Full time Administrative Assistant
  • Full time Assistant Property Manager
  • Full time Property Manager
  • 2 full time Licensed Leasing Agents
  • Full time Leasing Manager

Mark Word 901-574-7039 or Russ Hensley 901-258-8060

We look forward to your call.

Reed & Associates of TN. LLC