There are many reasons to invest in upgrading your rental property. Maybe you want to update the units to attract new tenants or you need to make improvements to keep your existing residents happy. However,…Keep Reading
In a downturn, spending thousands of dollars renovating your units may not seem to make economic sense, as prospects become more cost-conscious, and you may not be able to generate much additional rent for the…Keep Reading
How does your older property compete when a new construction project opens up nearby? Both 2023 and 2024 are expected to see a record number of new development projects in lease-up mode. So, how do…Keep Reading
After an apartment sits unrented for a while, the first instinct of many owners and managers is to reduce the price in order to lease it. However, because rent levels are so important to both…Keep Reading
Many properties have been experiencing higher turnover and higher vacancy due to changes in migration patterns and the economic challenges stemming from the Covid pandemic and government reactions to it. With all this turnover (and…Keep Reading
Many owners, especially in urban areas, are having a harder time renting their apartments. The number of listings seems to be swelling each day on Craigslist and other listing sites. Rents at competing apartments are…Keep Reading
Many owners were pleasantly surprised earlier this year that most tenants continued to pay rent even during the pandemic. However, we now credit much of that to stimulus money – whether it be the $1200…Keep Reading
It has been nearly half a year that most routine maintenance at multifamily properties have been on hold. While it is understandable that companies focused on doing as little non-emergency maintenance as possible in order…Keep Reading
When the economy falters and your competition is throwing out concessions and cutting their prices, there is a strong temptation to do the same. But before you even think about doing that, you should revisit…Keep Reading
For better or for worse, with the Covid-19 epidemic, change has been thrust upon us. Some will be paralyzed by fear and uncertainty. They will ‘wait for the crisis to pass’ or wait to ‘see…Keep Reading