8
Doors per manager
vs. 70+ at legacy PM firms. Lower caseload means faster response and longer tenant tenure.
Vol. VIII — Cedar Rapids, Iowa · Management Desk
Property management for small-portfolio owners, run by the same hand that bought and renovated the building.
Most property managers carry 70+ doors. Mike's Quarter caps every manager at eight. The result: 3.7-year average tenant tenure, 6.3 vacant-to-tenant days, and a single phone number — Mike's — for everything from a broken disposal to a lease renewal.
Onboard My RentalOperator disclosure — filed quarterly
3.7yr
Avg. tenant tenure
Across the 268-unit managed portfolio as of Q4 2024. Turnover is the single biggest hidden cost in small-portfolio rentals.
6.3days
Vacant-to-tenant
Average on managed turnovers, end-to-end. Industry average is 31 days — every saved week is a week of rent.
268
Active managed units
All 1–4 unit small multifamily across Iowa, Illinois, Minnesota, and Wisconsin.
Where we manage / How you see it
A four-state footprint, drawn around small-town 1–4 unit rentals.
Iowa is home; Illinois, Minnesota, and Wisconsin round out the territory. We do not chase coastal metros or institutional 100-unit buildings. Every door we manage sits inside a 90-minute drive from a Mike's Quarter office, which is why our trucks can be on-site the same day a tenant calls.
- Cedar Rapids, IA — 412 2nd Street SE, Suite 300 · 52401 · 412 doors managed
- Davenport, IA / Quad Cities — 87 doors managed
- Rochester, MN — 54 doors managed
- Madison, WI — 41 doors managed
- Peoria, IL — 38 doors managed
Not on the map? We open one new sub-market per year. Ask Mike.
The owner portal: every ledger entry, work order, and lease doc in one place.
Out-of-state owners get the same view Mike sees — monthly owner statements, 1099s, maintenance invoices, and tenant messages, all timestamped. The portal is plain, audited, and email-friendly; nothing is hidden behind a phone call.
"We don't manage what we haven't bought, renovated, or stood across from at a closing table."
— Mike Halverson, founder
268
Stabilized rentals under management
3.7yr
Average tenant tenure, 2024 cohort
9.4%
Average net cash-on-cash, 2024
$47.2M
Cumulative acquisition volume since 2017
Frequently asked, answered in plain language
The fee schedule, the lease term, and the onboarding week — before you sign anything.
- What is the tenant placement fee?
- One month's rent, due only at the moment a qualified tenant signs a 12-month lease. We list the unit, screen applicants against a written criteria sheet, run credit and background checks, and draft the lease. No placement fee is charged if the unit stays vacant or if the tenant we place leaves within the first 60 days — we re-list at no additional charge.
- What is the monthly management fee?
- 8% of collected rent for single-family and duplex owners; 7% for tri- and four-unit owners with two or more doors under management. The fee covers rent collection, owner disbursements by the 10th, maintenance coordination, lease enforcement, and annual inspections. There is no markup on vendor work performed by our in-house crew — you see the trade invoice at cost.
- What are the lease terms?
- We default to 12-month leases with month-to-month extensions after the first year. We do not write 6-month leases to inflate placement fees; long tenure is how we earn the right to manage the building. Pet policy, late-fee structure, and rent escalators are all set with you in writing before the first listing goes live.
- How long does onboarding take?
- Seven business days from signed agreement to live tenant placement. Day 1 is a 60-minute onboarding call with Mike; Day 2 we collect keys, documents, and vendor access; Day 3 we walk the property and write the listing; Days 4–7 we screen applicants and hold showings. You do not have to be in the same state.
- What is Mike's actual role once I sign?
- Every managed door is reviewed by Mike quarterly, and he is the named escalation contact for any maintenance ticket over $1,500. Mike is not a brand name on a brochure — he is in the property file, on the inspection sheet, and on the quarterly owner call.
Onboarding — direct line to Mike
Send the address. Get a 48-hour call back with a fee quote attached.
Fill in the four fields below. Within two business days, Mike personally calls or emails with a written fee quote, a 12-month cash-flow projection on your unit, and the onboarding-week calendar. No sales team. No drip campaign. The phone number on the side of the building is the phone number that calls you back.
- Quote attached to the first reply — no follow-up needed
- Onboarding call hosted by Mike, not a junior account manager
- Written estimate of year-one NOI before any signature