A complete guide to getting started with multifamily investment properties: how to manage, increase profit and maintain your property. Real estate investors recommend investing in multifamily real estate instead of several single-family homes if you have the budget for it. If you are considering investing in real estate, consider going for a duplex instead of two single-family rental properties; and if...
An HOA will hire a property management company if the workload is simply too much for them to handle - after all, board members for the HOA are usually also residents in the community who do HOA work on a volunteer basis, and there are only so many hours in their day. Depending on the community, the board members, and the specific circumstances, an HOA may choose to hire any combination of services from a...
Real estate investors like investing in rental properties (especially multifamily properties) because by collecting rent they immediately have a stream of passive rental income which they can rely on or save and re-invest. Beginner property owners tend to overestimate how much cash flow they will be getting, and are therefore surprised at the end of the year when they have not collected as much...
Multi-family housing goes by several names, but this one says it all: it is a building or complex that contains several separate houses in which several families live independently from one another. Apartment buildings are the most common example, but multi-family homes can come in many configurations. There are many reasons why multifamily properties are attractive for real estate investors and...
Multifamily rental properties are an excellent real estate investment, and experts agree that as investment properties, multi-family real estate is a really good idea, especially compared to multiple single-family properties. However, if your real estate investments are now large enough to include an apartment building or more, it’s time you seriously consider engaging a good property management...
Managing a multi-family apartment complex can be a full-time job, and it may even require an entire team of people to do it, depending on the number of managed properties in the property, as well as the size and number of shared amenities. Property management involves many tasks across a wide variety of disciplines, and the job calls for a person with great interpersonal skills, attention to detail, good...
If you are only getting started in real estate or beginning to consider investing in property, you may not be familiar with the concept of property management, or perhaps you think it is a luxury you don’t need. However, while investing in property is generally regarded as a sound move, it is also a very large investment. There are many factors that can affect how much money you actually make from your...
Short term rental is a booming business right now, since Airbnb properties and short term rental vacation homes offer a more intimate, authentic experience to travelers than a big hotel would. However, just because you like a vacationing spot enough to buy a villa, boat, or condo there, it doesn’t necessarily mean you are acquainted with the rental market, local contractors and housekeepers, and the...
Investing in real estate is a smart way to use your money: properties tend to gain value over time, you can have a steady stream of passive income, and you can start earning even if you have not fully paid for the property. However, income from rental property is not entirely passive: you do have to put in some work to maximize your earnings, and this work is of a very specialized nature....
A property owner and their chosen property management company should work together like a partnership, in a win-win arrangement that keeps all parties satisfied. This can be achieved with clear communication, setting expectations, and negotiating fair property management fees. You want a property manager that's engaged and motivated to keep your property occupied, and who cares about maintaining the...