Property Management News

As we approach the end of 2023, it's a crucial time for passive investors in multifamily real estate to consider some strategic financial decisions. This year is particularly important due to the changing rates of a tax benefit known as bonus depreciation. Let's explore what this means for you and how you can benefit from it before the year ends. What is Bonus Depreciation? Bonus depreciation is a tax incentive that allows you to deduct the entire cost of certain property improvements in the year you make them, rather than spreading the cost over several years. This is particularly relevant for improvements with a useful life of 20 years or less. For 2023, you can deduct up to... Read more

Proactive measures can help mitigate the physical and emotional impacts of catastrophic weather events. Wildfires in Maui, tropical storms in California, floods in Las Vegas. Natural disasters continue to hit the U.S in both expected and unexpected ways—and with increasing frequency and severity. That’s why it’s more important than ever for multifamily owners and operators to have comprehensive disaster plans to protect not only their assets and operations, but their staff and residents as well. “Over the past five years, I have seen the risk of catastrophic events rise twofold,” said Lisa Gunderson, vice president of asset management for Bristol Development Group in... Read more