Thinking about investing in multifamily property? Have you just made your first big purchase as a landlord? When it comes to making the most of your investment property, there are some considerations to keep in mind. Start With a Plan While your investment may not look like a traditional business, you still need to treat it like one. Create a business plan, set goals and benchmarks, and make sure everything you do is in compliance with local and federal housing laws. To attract and retain tenants, your property needs a stellar reputation.  This includes researching and securing the right ..read more

Whether you’re a landlord or a tenant, everyone should have one main goal in mind and that’s maintaining apartment complex safety. It takes everyone working together and staying vigilant to keep the property free from crime that could impact tenancy rates and tenant well-being. For the Landlords Screen Your Tenants It goes without saying that it’s a landlord’s obligation to keep their property compliant with safety guidelines and building codes. It’s also important to know who is living in your complex for your safety and the safety of your tenants. In general, it’s a good idea to screen poten ..read more

Property managers have been proven to help multifamily investors improve ROI, but not all teams are created equal. Whether you’re searching for help with your first investment or you’re feeling like your current property management team just isn’t cutting it, there are some universal skills that you should look for. Communication Your property management team is on the front lines every day, communicating with tenants and vendors and relaying information back to you as a landlord. Your property’s reputation (and retention rate) could suffer without solid, excellent, and clear communication. Ma ..read more

While your multifamily property investment may not look like a traditional business, you still need to treat it like one. Create a business plan, set goals and benchmarks, and ensure everything you do complies with local and federal housing laws. To attract and retain tenants, your property needs a stellar reputation. Most importantly, you need to know the ins and outs of multifamily property management, so we created a list of the most frequently asked questions we’ve come across during our work with property owners and managers. What Exactly Do Property Managers Do? While new apartment compl ..read more

Even if you’re not planning to sell your multifamily property any time soon, it’s important to have a plan in place in case you do choose to sell your property. Top-quality teams should understand how top-quality property management can maintain property value so you know that you can get top dollar when a buyer comes along.  A great relationship with your property manager could go a long way towards protecting your investment. Here’s how they work hard to help your property maintain its value and offer an advantage when it’s time for you to sell. Maintenance Property managers oversee on ..read more

Whether you’re buying your first multifamily investment property or ready to sell what you currently have in your portfolio, it’s imperative that you know how much that property is valued. Even if it seems to be the perfect investment on paper, if you pay too much or the buyers pay too little, your return on investment greatly diminishes.  The property valuation process is pretty simple and the formula doesn’t require key performance indicators that you need to dive deep to find. The most basic formula is income capitalization using two particular numbers: the net operating income (NOI) a ..read more

Potential tenants, current tenants, and even people who may just be starting their apartment search have all scrolled through social media at one point today. Are you putting your apartment complex front and center in their feed? With the right approach and execution, social media marketing can help property managers amplify a branding message and attract ideal tenants that stay in place for a long time to come. Add Some Empathy Sure — you’re a landlord with an investment (your apartment property), and you’re looking to make a profit. However, you’re not some faceless corporation, simply a bus ..read more

Finding the perfect apartment is about more than just looking through the online listings. Your next apartment will be your new home — so don’t take apartment searching lightly. With the right approach, you can find a place that gives you everything you need from a home. Make a List You may have an idea of what you’re looking for in your next apartment rental, but have you put it on paper? Seeing your list written down, divided into two columns of “wants” and “needs.” You may need two parking spaces, but amenities like dog parks or common spaces may be more of a luxury. The better you prioriti ..read more

Congrats on moving into your new apartment! Whether you’re new to the area or new to renting altogether, apartment living offers a long list of benefits — but there are also a few mistakes to avoid. Watching out for these missteps makes life easier for tenants and property managers alike. Forgetting the Inspection An apartment inspection is as important for new renters as it is for landlords checking out a rental after a tenant moves out. It’s not enough to simply look around and give it your stamp of approval; the inspection needs to be performed with a fine-tooth comb. The fact is that someo ..read more

The weather is warming up and the days are longer, and your apartment complex’s tenants are looking forward to spending more time outdoors. It’s important to ensure that you’re taking steps to clean and prepare your property for summer fun. Below are some summer property management tips you need to know about to prepare your property for this time of year. Maintenance Regular maintenance of your apartment complex property needs to be an ongoing process, and it’s wise to adjust the schedule to include seasonal-specific tasks: Decks and Playgrounds: Regularly inspect and clean the furniture and ..read more