Property Management News
This month, we talked about winterization during our morning coffee here in my part of Virginia. We are fortunate not to get too many winter storms, but as a result, sometimes we are caught off-guard. The session focused on prepping for big freezes or storms. It included practical tips like turning the heat on in your vacants, checking for out-of-town residents to ensure their heat is on, setting faucets to drip, and opening your cabinet doors. They mentioned checking faucets outside and walking the property to make sure that you don’t have dead limbs around the buildings. All great suggestions, but it got me thinking about other things property managers should be doing long before... Read more
Contractor scams are both common and costly. The best way to avoid these scams is to be aware of how they work and use your best judgment. Here’s everything you need...
When a deal sponsor is awarded the contract for a new multifamily acquisition, they will begin a process know as “due diligence” on the property. Due...
Landlords looking to increase rent often have the fear of losing good tenants. Obviously, you want to retain qualified tenants, so you might not want to raise the rent....
We spend a great deal of time in the spaces in which we live, and it has been long understood that housing conditions can have a significant impact on one’s health....
If you have spent any time at all researching potential apartment investments within the last several years, I am certain that you have been presented with a property in which the seller and/or agent have presented the deal as a great “value-add opportunity.” In this article, I will discuss exactly what a value-add opportunity is, how to determine whether or not a value-add program will actually work, an indication of which properties are best suited for a value-add program, and a brief discussion of specific actions you can take to make this program work best for you. Before defining the term, it is necessary to state that, in my opinion, this term is grossly over-used. In fact, I... Read more
In the multifamily sector, the readiness of a unit for showings is more than just a preparatory step; it’s a strategic move with far-reaching implications....
There’s no way around it: Replacing a roof is expensive. The process usually takes a team of professionals (and yes, you should use professionals—more on that...
Constructing an Accessory Dwelling Unit (ADU) can be a pricey undertaking. Learn all about the potential costs and how to avoid going over budget on your...
Cases involving property law rarely reach state supreme courts. However, two cases are pending before both the Supreme Courts of New Jersey and Pennsylvania – and...
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