About Preferred Properties North, LLC
PPN was developed in response to the need of affordable, safe, quality housing for the student population in the Albany area. Seeking advice in regard to purchasing and financing a residential investment property for their college-aged daughter, the Patterson family consulted Mr. Kahn for his assistance and expertise. Mr. Kahn's long standing career in real estate, finance, and investment provided a perfect match. Preferred Properties North, LLC was formed to provide an optimal solution to the void in the student housing market.
PPN purchased its first residence in April 2007. The property was renovated and fully rented by June 2007. PPN then secured five two-family homes and one single-family home in close proximity during the October 2007 through February 2008 time period. Each property was renovated and fully rented within two to four months after purchase. All units have remained rented at 100% occupancy.
PPN properties are upgraded and enhanced with state-of-the-art technology, amenities and safety features. Upgrades maximize efficiency and timeliness to capitalize on profitability. PPN's fine reputation for quality and hassle-free environments allows financial security in repeat tenants. To optimize showings, renovations are finalized two to three months prior to June 1 and December 1, to meet fully rented target dates.
All students in each property sign the same lease for the full amount due for the house. If any fees or portion of the rent is deemed late, each tenant is assessed a late charge and responsible for its entirety. A departing student is able to sublet, subject to prior written approval by PPN and a guarantor of that sub lessee's obligations as a tenant. Additionally, the sub lessee must be approved by the existing tenants of that property.
Contact us today for more information or to arrange for an on-site visit.