We talk to a lot of apartment owners who are carrying the cost of a full time onsite when in a lot of cases they only need someone part time, or no dedicated person at all. #propertymanagement #multifamily #rentalmanagement #assetmanagement
President | Helping Apartment & SFR Investors Maximize NOI | AUM 200M+ | Oregon Principal Broker | Washington Managing Broker | Co-Host of Invest In the West Podcast | 20 Years in Real Estate.
A lot of apartments owners are being fooled into thinking they need an onsite manager when they don’t. ⬆️ That’s a tremendous cost AND opportunity for savings 💰. No, I am not advocating for slashing 🔪 costs at the expense of the resident experience, that would be stupid. You can have both. If you’re hiring a professional property management company one of the benefits of doing so is access to scale 📈. With scale a lot of onsite duties can be decentralized which will eliminate or reduce dedicated payroll. That means your 40, 50, even 100 unit building could operate without a full time onsite. $30,000 in savings at a 5 cap is $600,000 in added value. #propertymanagement #landlording #multifamily #realestateinvesting