Monthly Review: November 2024

November's Property Pro Tip ??

Join host Trevor Henson, PMP and special guest Jonathan Nikfarjam as they break down the key differences between residential (1–4 units) and commercial (5+ units) properties. They cover how banks handle financing for each, the challenges of funding a fourplex, and the importance of rent rolls and business plans for larger properties. Plus, learn about recourse vs. non-recourse loans and dive into commercial real estate types like multifamily, industrial, office, and retail. Whether you’re investing in residential or commercial properties, this video is packed with expert insights to guide your decisions!

What is in This Month's Newsletter?

• Trending blog
• Employee spotlight
• Featured rental

Trending Blog

ADU Insurance: What All You Need to Know

Accessory Dwelling Units (ADUs) are gaining popularity, offering homeowners rental income, extra living space, and housing flexibility. However, owning or renting an ADU comes with unique risks, making the right insurance coverage essential for protecting your property and financial security.

Types of ADU Insurance

• Landlord Insurance: For rental ADUs, this policy covers property damage, liability, and even lost rental income if the unit becomes uninhabitable.
• Homeowners’ Insurance: ADUs often require extended coverage to include risks like fire or theft. Be sure to inform your provider about your ADU for proper protection.
• Umbrella Insurance: Adds extra liability coverage, ideal for rental ADUs or high-value properties, ensuring broader financial protection.

ADU insurance typically includes:

• Property Damage: Covers repairs for fire, natural disasters, or vandalism.
• Liability Protection: Safeguards against legal claims if someone is injured on your property.
• Loss of Rental Income: Protects your finances if the ADU is damaged and uninhabitable.
• Personal Property Coverage: Secures belongings like furniture and appliances in your ADU

Insurance costs vary based on location, size, construction type, and coverage needs. Comparing quotes can help you find affordable options that still provide comprehensive protection. ADUs are a smart investment, but the right insurance is key to keeping them secure. Want a full breakdown of ADU insurance options? Read the complete blog here!

Employee Spotlight: Chloe, HR Representative

Meet Chloe, the heart of our HR team! As an HR representative, Chloe is the go-to person for ensuring our workplace thrives with positivity, collaboration, and care. Her knack for connecting with people and handling challenges with grace makes her an invaluable part of our team.

Chloe’s work is all about people, and now it’s time to shine a light on her. Keep reading to learn more about what makes her an incredible part of our team!

What has been your favorite aspect of working at BFPM?

"My favorite part of working at Beach Front Property Management is the welcoming and friendly environment. Everyone here is so approachable, making it easy to interact and collaborate. I also love my role in onboarding and orientation, where I’m the first to meet new team members. It’s rewarding to help them feel comfortable and introduce them to the company culture."

How does your team inspire and encourage you to push forward?

"My team is a big reason I’ve grown so much here. Their constant encouragement has helped me step out of my comfort zone and push forward. For instance, when I led my first meeting at Beach Front, I was nervous, but with their support, I’ve become more confident and continue to grow in my HR skills."

Share One Fun Fact.

"I’m passionate about art and creativity. On weekends, I love visiting LA’s art museums, like The Getty and Griffith Observatory. I’m also excited to visit Huntington Park soon to explore the botanical gardens. It’s a great way for me to relax and find inspiration."

Featured Rental

Discover your next home in sunny Huntington Beach! These stunning apartments offer everything from cozy studios to spacious 2-bedroom layouts, with 1 to 2 bathrooms to match your lifestyle. Whether you're seeking a sleek, modern vibe or a laid-back beachside retreat, there’s a perfect spot waiting for you here!

?? 222 3rd St. Huntington Beach, CA 92648

?? (562) 366-1677 to schedule a tour!

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