How Working Remotely Will Impact the Real Estate Industry | Resident First Focus

How Working Remotely Will Impact the Real Estate Industry | Resident First Focus

Real estate and technology are often looked at as different realms—but there’s growing overlap between the two sectors. Real estate investors need to monitor these trends closely to understand how advances in technology will impact the future of real estate. Those who remain at the forefront will be best positioned to protect their portfolios as the market shifts.

How to Handle the Aftermath of a Fire at Your Rental Property | Resident First Focus

How to Handle the Aftermath of a Fire at Your Rental Property | Resident First Focus

Having a house fire is one of a landlord’s worst nightmares. Because it happens so infrequently relative to other issues, most landlords panic and don’t know how to respond in the aftermath of a fire. In the event of the unimaginable, follow these procedures to remain level headed during an otherwise stressful period. Moreover, remember: as long as everyone is safe, this too shall pass. Investment properties are valuable and mean a lot to their owners, but they can be rebuilt and losses recovered in due time. 

Key Resident Loyalty Drivers to Boost Renter Retention | Resident First Focus

Key Resident Loyalty Drivers to Boost Renter Retention | Resident First Focus

At first glance, a landlord might shy away from investing in these vital loyalty drivers. Each carries some level of cost. However, resident turnover can bring even higher costs that can be steep, which is why multifamily owners should be laser-focused on creating and retaining highly loyal residents year after year.

What to Know About Pest Control at Multifamily Rental Properties | Resident First Focus

What to Know About Pest Control at Multifamily Rental Properties | Resident First Focus

Pest control disputes can be tricky because usually by the time they arise, there’s already a problem that needs to be dealt with and should be done so immediately. Dealing with the root causes of pest control is a small price to pay in the long run.

The Top 3 Unforeseen Challenges Faced by Property Owners | Resident First Focus

The Top 3 Unforeseen Challenges Faced by Property Owners | Resident First Focus

Owning and operating rental property is a great way to earn passive income. Even though it’s “passive” and doesn’t usually require intensive, day-to-day management does not mean that property owners should have any less of a business mindset. Solid planning, preparation, and control of finances are just as important for property manager as they are for entrepreneurs in other industries.

25 Questions to Ask Before Hiring a New Property Manager | Resident First Focus

25 Questions to Ask Before Hiring a New Property Manager | Resident First Focus

It should go without question, but always be sure to meet with property managers in person before deciding to hire someone. This will give you a better feel for the person or group.

How to Attract Families to Your Rental Properties | Resident First Focus

How to Attract Families to Your Rental Properties | Resident First Focus

However, you ultimately decide to go about attracting tenants, remember this one thing: discriminating against households with children is 100% illegal. Make sure you understand all local, state, and federal laws as you advertise, screen, and select tenants for your rental properties.

6 Ways to Boost the Curb Appeal at Multifamily Properties | Resident First Focus

6 Ways to Boost the Curb Appeal at Multifamily Properties | Resident First Focus

Now that it’s the busy summer season, with budget season around the corner, and people will be spending more time outside—so there’s no better time to invest in a few low-cost improvements to boost your multifamily property’s curb appeal. The time and money spend on projects like these can translate into even more significant gains when you consider the impact it will have on finding (and retaining!) high-quality residents over time.

Ways to Better Manage Cash Flow at Small Multifamily Properties | Resident First Focus

Ways to Better Manage Cash Flow at Small Multifamily Properties | Resident First Focus

A little preparation can go a long way when it comes to preserving cash flow at small properties—and your ability to protect cash flow can ultimately make or break your investment.

What to Know About Squatters’ Rights | Resident First Focus

What to Know About Squatters’ Rights | Resident First Focus

Prevention is always the best strategy, but sometimes even the most cautious of landlords can’t stop unwelcome visitors from camping out. If you find a squatter on your property, call an attorney and be sure to follow all local procedures for eviction as laws inconspicuously vary from mild to wild in various states.

11 Things to Consider Before Renting to Someone with Pets | Resident First Focus

11 Things to Consider Before Renting to Someone with Pets | Resident First Focus

Apartment owners already have a lot to consider because home is where pets find loving care. Adding pets into the mix can seem like an unnecessary complication. However, in our experience, pets can be an excellent addition to your property if policies are laid out clearly and managed adequately.

Off-Campus Student Housing Market Reaching Peak Popularity | Resident First Focus

Off-Campus Student Housing Market Reaching Peak Popularity | Resident First Focus

Before you run out and buy the closest multifamily property near your local college or university, consider the unique challenges landlords face when renting off-campus student housing.

Tips for Managing Residents' Security Deposits | Resident First Focus

Tips for Managing Residents' Security Deposits | Resident First Focus

Actively communicate with residents throughout their tenancy, and set expectations from the outset. Who’s responsible for what maintenance and repairs? Who pays which bills? Managers should keep lines of communication open – especially if there’s any sign of property damage or if they start to have concerns about a resident’s activity.

A Real Estate Tax “Loophole” That Isn’t Really a Loophole After All | Resident First Focus

A Real Estate Tax “Loophole” That Isn’t Really a Loophole After All | Resident First Focus

Taxes are complicated. One of the reasons so many people enjoy investing in real estate is because of its tax advantages. When in doubt, it’s always best to consult with your CPA to understand how to take advantage of these tax “loopholes” – that, as we’ve seen here today, aren’t really “loopholes” after all!

Growing Rental Market for Those Aged 55+ | Resident First Focus

Growing Rental Market for Those Aged 55+ | Resident First Focus

So, why does all of this matter for landlords, property managers, and real estate investors? We aren’t just throwing data at you for the sake of wading through data! Instead, we hope you’ll use this data to capitalize on shifting demographic needs and changes. If you’re located in a market that’s expected to experience an uptick in renters aged 55+, consider making property improvements tailored to these residents.

How to Help Your Property Compete with New Construction | Resident First Focus

How to Help Your Property Compete with New Construction | Resident First Focus

At the end of the day – DON’T STRESS OUT. Remember that there will always be competition for renters and embrace the challenge! Housing is something people will always need. Now it’s up to you to position yours as the housing they want.

Things to Consider Before Allowing Marijuana Use at Your Property | Resident First Focus

Things to Consider Before Allowing Marijuana Use at Your Property | Resident First Focus

An experienced property manager will be well-versed in these regulations and can help keep you protected. Laws regarding marijuana use and discrimination can be a lot for new landlords or homeowners’ associations to wrap their heads around, particularly as the regulatory environment continues to change.

How to Add Value by Adding Amenities to Smaller Apartment Communities | Resident First Focus

How to Add Value by Adding Amenities to Smaller Apartment Communities | Resident First Focus

As you can see, there are many ways for landlords and property managers to integrate amenities into smaller apartments communities. Best yet, these don’t require spending a fortune. The majority of these amenities are low-cost additions that will add value to a property and help lure (and keep) residents who may have otherwise moved to a larger apartment community for the amenities they tend to offer.

Key Performance Metrics Every Real Estate Investor Should Track | Resident First Focus

Key Performance Metrics Every Real Estate Investor Should Track | Resident First Focus

Data collection may seem burdensome, but it’s highly essential to the success of your real estate portfolio. Collect data, benchmark your performance against both previous years AND your competitors, and then adjust as needed to improve the value of your portfolio.

Why You Should Consider Doing a Cost Segregation Study | Resident First Focus

Why You Should Consider Doing a Cost Segregation Study | Resident First Focus

However, what if you could depreciate components of your rental property faster? What if you could amortize some pieces of property in as little as five years, saving thousands of dollars a year in the process?