Radonna Parrish
Chattanooga, TN (USA)
Role(s):
Founder/Owner/Principal
Harmony Investment Group, LLC
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Startup
Location:
Ringgold
Industry:
Real Estate
Year Founded:
2005
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Limited Liability Company
Description:
Harmony Investment Group, LLC is a small real estate investment company that focuses on single- and multi-family residential properties within the Chattanooga, TN and northwest Georgia area. Property rental management activities include target marketing, contract management, and performance assessments. Facility life-cycle management tasks include project initiation, project development, project execution, project closeout, and operations / maintenance.
Harmony Investment Group executes a marketing strategy that targets desired renters, aligns with market trends, and maximizing the financial potential of properties. With that in mind, our strategy is to focus on short-term corporate and extended-stay vacation rental properties which target the value-priced niche market.
We utilize effective, low-cost marketing techniques. Recognizing that over 40% of all booking are sourced to the internet, we have researched and initiated marketing tools to include listing rentals on 3rd party sites, a business website, and utilizing various social networks.
We encourage return customers of short-term and extended-stay rentals by providing excellent, well-equipped properties and creating a personal experience, offering discounts, and providing value-add services (i.e., onsite photography and catering).
We utilizes value-based metrics to annually assess performance ratios for income producing properties. Spreadsheets are used to track 1) monthly debt service, 2) taxes and insurance,
3) maintenance allowance, 4) average occupancy rate, 5) vacancy allowance, 6) net operating income, 7) net monthly rental income, and 8) debt coverage ratio.