Kansas City area homeowners who find it challenging to sell their residences in the current economy do have another viable option while waiting for the market to change, according to Kandy Meehan, founder and president of Home Rental Services (HRS).
“There are significant benefits to renting a residence of which people may not be aware. These include maintaining a secured mortgage rate, tax advantages for improvements done, or expenses incurred, and keeping the home that owners have worked hard to create,” adds Meehan.
Meehan adds that renting helps pay the principle on the mortgage, while still providing a tax advantage of a deduction on income taxes.
HRS is full-service residential property management, listing, and leasing firm founded in 1989, based in Overland Park, KS. HRS offers solutions for two specific segments of clientele. The first segment is in property management.
The HRS staff assists homeowners who are seeking to rent their homes rather than sell them locate the optimum renters and maintain the property. In the second segment, HRS assists individuals or families who are seeking to rent a residential property, either for a year or two or possibly even short term.
Having their property leased by HRS, homeowners can avoid the worry of having a vacant property, and leasing permits the owner of the property to focus on the new job position, or the transfer to a new city, if he or she must leave the area.
The majority of HRS properties lease in the range of $1,200 to $4,000 per month. On occasion, Meehan says they do have homes that rent for as high as $10,000 per month.
HRS serves clients who own homes in Kansas City, but are residing in such cities London, Zurich, Rome, and Paris, and nearly every time zone. “Relocation due to work influences is a part of the core of our work culture today and Home Rental Services plays a unique role facilitating these transitions,” according to Meehan.
HRS currently manages more than 500 properties in the metro Kansas City area including Johnson County, Kan. and Lee’s Summit, Mo. The business has experienced a substantial growth in the last 36 months, according to Meehan.
HRS has strict guidelines they follow in approving renters for clients’ homes. “It is paramount that we secure the optimum renter, and it is with this goal in mind that I developed a screening program for those individuals seeking to rent an HRS’ managed property,” says Meehan. HRS’ screening system is very specific and systematic, and reviews income, rental history, employment, and many factors on the credit report.
“Clients are ensured of timely rental payments, longer rental leases, and the security of knowing their home is well cared for,” explains Meehan. “After obtaining approval, renters then pay rent directly to HRS. The firm then deposits the rent proceeds to each owner’s account. HRS takes appropriate action if rent is not received on time. HRS handles all property management and all home maintenance and repairs.
HRS chooses not sell homes or manage commercial or multifamily properties. “As a result of this decision, Realtors view HRS as an asset to what they can bring to the table when listing a house for clients, rather than viewing us as a competitor,” says Meehan.
Should the Realtor not find a buyer for the residential property, he or she can contact HRS to find a qualified renter. More than 0% of HRS’ business is the result of referrals.
Kandy Meehan founded Home Rental Services, Inc. (HRS) in 1989. Today, HRS is the largest business of its type in Kansas and the metro Kansas City area. Offices are located at 6900 College Blvd, Suite 990, in Overland Park, Kansas. Their web address is www.home4rent.com. Kandy Meehan can be reached at (913) 469-6633.