A Policy for Maintenance? How to get a grip on costs that just seem to evade control? That's our topic today. In 2023, when business turns a little sour, cuts to maintenance are often the easiest, no-brainer response to lowering property management costs. Of course, that impacts residents and HOA members, if it's applied in…
Property Owners Want Better ROI It might seem unfair to ask a property management company to grow ROI, yet owner's request for profit growth is your opportunity to ask for more from them in budget and fees. Aren't all problems an opportunity? Surveys show rent price increases are the preferred route to higher ROI. Yet…
Raising Rent Prices for Better Portfolio Performance This topic of raising rent prices is a sensitive one for some renters, investors, government staff, economists, and landlords. Yet all rents must rise one way or another so everyone isn't going out of business. Most landlords want to ensure they get a reasonable return on their property…
Buy vs Rent in 2023 Redfin's latest report found that in only 4 major US metros , is it better to buy than rent. Those cities were Houston, Detroit, Philadelphia and Cleveland. The rest? Better to rent. Yes, mortgage rates have climbed and housing supply has cratered, especially in the single family market pushing house…
Investigating Growth via Multifamily Properties Many investors start out in the single family sector and then transition into the multifamily sector. This often evolves from success, management capacity, or economies of scale. And today, growth in multifamily construction, lack of houses, market trends, and the modern amenities which renters are demanding means multifamily is entering…
Easy Lease Renewals Rental property industry surveys have shown that attracting and retaining high quality renters is one of the top challenges among landlords and property managers. Tenant churn is likely to increase due to the eroding economic outlook, rising interest rates, rising unemployment, high cost of rent and cost of living challenges. And there…
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