HOUSING HEAVENLY LLC | Application Preview
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General Information
Business Registration Number: 202355114487
Location: Gardena, CA, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
We plan to use a portion of the grant to renovate and upgrade the property, making it more attractive to tenants and increasing their rental value. Energy-efficient improvements will reduce operating costs,while also improving our profitability over time. In addition it will help cover essential start-up costs such as legal fees, insurance, necessary permit/licenses, and maintenance, allowing us to stabilize operations while waiting for rental income to begin
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Business Plan
Within the first and second official year of business we intend on using the equity from the initial property to fund the expansion of purchasing smaller properties to build a solid portfolio and gain operational experience. Our main focus is to develop a strong brand identity both online and offline which would attract potential tenants and investors. To do so we would create a professional website and social media presence to highlight our properties and build credibility in the market. Throughout years three through five of being in business we should’ve retained a number of quality tenants based on their experience with our exceptional service and maintaining our properties to a high standard. Allowing us to put all the profits made and expand into larger, high-value properties in regions with significant market potential. HOUSING HEAVENLY LLC business can contribute to local economic growth, improve living conditions, provide affordable housing, and create a positive social and environmental impact. If investors were to invest, the business would have the potential to create jobs such as property management positions to contractors, maintenance staff, and more. While helping reduce the number of vacant or deteriorating properties and transforming them into functional, attracting homes or commercial spaces. Lowering the risk of crime in the area.
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Self Identified Competition
My top 3 competitors would be considered other landlords, Apartment complexes, and short-term rentals.Apartment complexes offer competitive prices but could include hidden costs like application fees, pet fees, or higher utility cost due every unit supply coming from one resource. These complexes are often located in high-demand areas or have access to public transportation. They often target a broader range of tenants, including young professionals, students, or anyone looking for a low-maintenance living situation with on-site amenities. Private landlords may have more flexibility in pricing compared to large complexes. The market demand is broadly based upon the attraction of stable tenants and can require higher payments for rent based on location. And lastly short-term rentals targeted audience is obviously short term tenants. They may have higher nightly rates, but the cost on a monthly basis could exceed what long-term tenants are willing to pay. These are popular in tourist-heavy areas or where there’s a demand for temporary housing. What makes HOUSING HEAVENLY LLC property different form our competitors would be how the property condition is fully updated with current appliances that 2024 tenants are looking for. The size and layout of the property could fit a family of three with a reasonably sized backyard, enough parking for up to four cars with a gate to protect from potential burglary. Before tenant receives a move in date they are given the opportunity to view the property to get a feel if they are please with the property, area and rent prices.Upon move in date we come to an understanding the set price of the monthly rent and that it may go up or down at the end of the yearly contract.
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