Top 8 Apartment Owner Needs & Concerns
- Apartments need Active Management- Management requires ones time, money, is stressful, becomes less of a priority with age or as equity growth no longer top priority
- Apartments need Ongoing Maintenance- Maintenance requires one’s time to get bids etc, money, add stress, take away from bottom line return, require outside help.
- Stricter Regulation- Recent Rent Control, Just Cause eviction, City Rental Inspection, split roll tax assessment, etc -add stress, takes ones time,$, hard to keep up.
- Changing Owner Objectives- over time has ones desire to add value changes to desire for ease of management with steady passive cash flow
- Estate Planning- Do you have an owner exit strategy for family. Will family want and be in position to handle day to day management. Are you the Keyman? Do you want to
simplify your portfolio. Are your older assets fully depreciated.
- Use of Your Time – We all know life is short. Is managing / maintaining your apartments how you want to be spending your time now and moving forward?
- Do you have a qualified supporting team? Both onsite help and off-site vendors are critical to keep property running smoothly.
- Timing- Apartments Valuation have gone straight up since 2009. That’s 11 years in a row. Might time be right to take equity off the table and turn it into cash flow?