172 articles on property management education, written by the team that manages 700+ rental units across the Columbus metro. Page 6 of 8.
Real estate property investors spend a lot of time looking at their books (or at least they should be). Knowing exactly how much money is coming in and going out each month has a big impact on how successful the investment is performing for them. But success with a rental property doesn’t just happe
Read the article →For those new to owning rental properties, setting rent prices might feel like one giant guessing game, and one that has you all over the board. You fear that if you price the unit too low, you’ll be losing money. Conversely, if you price it too high, no one will rent from you,
Read the article →Any homeowner knows just how much work it can be to stay on top of home maintenance and repairs. Even something that seems like a simple fix can result in multiple trips to the hardware store and cost a lot more than you might expect. Now scale that up for an investor who owns one,
Read the article →The number one rule of marketing is to go where your people are, and if you’re trying to market a vacant multifamily unit to prospective tenants, the place you have to be is…you guessed it…online. But marketing costs money, and your goal as an investor is to be earning money, not spending it. Below
Read the article →Multifamily real estate properties fill an important housing role in communities like Columbus. Rental properties in this niche can serve everyone from a group of friends to a multi-generational family all living under one roof, and everyone in between. They are also good properties to add if you wa
Read the article →Investing in real estate has always been a great way to build wealth. You’ve likely heard Andrew Carnegie’s famous quote: “Ninety percent of all millionaires became so through owning real estate.” Some of the reasons real estate is such a good investment is because the asset itself, your building,
Read the article →Your investment properties should be income generators, not a drain on your time, money, and, yes, we’ll say it, sanity. If your property isn’t working for you, it’s past time to make some changes. The question is, should that change be selling off your properties for a quick payday, or turning to
Read the article →Investing in real estate is a smart way to diversify your portfolio and generate income. In 2021 alone, the estimated market size of property management in the U.S. surpassed $101 billion, according to data from Statista Research Department. Clearly, there are real growth opportunities to be had wit
Read the article →We can’t stress enough the importance of securing quality tenants for your rental properties. Not only are good tenants more likely to take care of your unit and treat it with respect, but they also are less likely to leave. And keeping your vacancy rate low is one of the more important ways to incr
Read the article →Vacancy rate is an important metric property owners must be tracking to accurately understand the performance of their real estate portfolio. By vacancy rate we mean knowing the average number of days or weeks per year that your rental unit sits unoccupied without any paying tenants. A good rule of
Read the article →Not-so-hot-take: every month a rental property is unoccupied is a cost for the investor. This is why keeping your units occupied is a top priority, it ensures ongoing income from the property. The longer it sits vacant, the more revenue opportunities you’re losing. That said, it’s worth spending th
Read the article →In all businesses, and especially in service-oriented industries like property management where we’re interacting with clients and tenants on a daily basis, having a full staff of skilled and talented employees is a huge asset to any organization. But this process, like all areas of owning a busines
Read the article →Whether you’re a real estate investor, business owner, or someone mid-career, we all share a similar growth mindset. We also all recognize that growth can come in fits and starts. The important part of maintaining an upward trajectory, however, is to understand when the time is right to change cours
Read the article →When it comes to hiring a property management company, you need to trust them. If you don’t trust that they have your best interests at heart, there’s no value in hiring them in the first place. Because it’s central to our business to build trust that we want you to be successful with your
Read the article →Real estate is an investment niche that’s not for everyone, if we’re perfectly honest. You have to be comfortable tolerating an at times uncomfortable level of risk and be willing to become a master of many trades. But for those who have some guts, gumption and yes, cash on hand, it can bring lucrat
Read the article →Single-family rental units fill numerous gaps in the Columbus housing market. Not only do they serve low-income families, they also meet the needs of residents who aren’t ready, can’t find, or can’t afford home ownership at this stage of their lives. Moreover, the appeal of a single-family home vers
Read the article →Investing in rental properties can be a good way to earn passive income (though “passive” is certainly a relative term). What gets in the way of any given unit’s earning potential, however, are the inevitable expenses that come with property maintenance and repairs. From the routine upkeep to the mo
Read the article →We’ll be the first to admit that as a business and as individual employees of the company we’re always learning. Certain mistakes, while we’d rather not make them, give us moments of pause and create opportunities for us to continually refine our processes so we are best able to deliver great serv
Read the article →Property owners’ responsibilities are multifold, but an essential one is keeping the rental units they own and manage fully habitable for their residents. When tenants are happy because they live in a great unit, they’re more likely to take good care of the space and renew their lease. In turn, thes
Read the article →In Part 1 on the economics of owning and managing small multifamily units, we discussed the advantages and disadvantages of adding multifamily properties to your investment portfolio. On the whole, we believe this type of rental property generally adds value in terms of ROI and is a smart choice, pr
Read the article →Most people pursue real estate investment opportunities because of the economic returns they can bring, not because they enjoy receiving middle-of-the-night tenant calls. But whether you own one property or 100, you know that each unit’s ROI potential can be impacted by a host of factors, including
Read the article →If there’s one basic rule for marketing and advertising, it’s “go where your people are.” Your people (a.k.a prospective tenants or real estate investors)? Yep, they’re on social media. Whether your goal is to invest in more rental properties or to fill your existing units with high-quality tenants,
Read the article →A property manager is responsible to both you as the property owner, as well as to your tenants. Broadly speaking, property managers are responsible for taking care of the physical rental property itself as well as any of the residents’ needs. More specifically, these responsibilities fall under thr
Read the article →Every day your rental unit sits empty is another day you aren’t generating revenue from it. To reduce this amount of time, you want to be turning over your rental units as quickly and seamlessly as possible between tenants. Create your Turnover Checklist Unit turnover is part art, part science (alth
Read the article →A free, data-backed rent evaluation using our own portfolio numbers and current market comps.
