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Is Professional Novi Multifamily Management Worth the Cost?

April 9, 2020

More than ever before in these times of uncertainty that we face as a community, investors and property owners may be wondering if it's a good time to invest in a Novi multifamily management company. With investors facing the limitations imposed on their ability to provide services to their residents, in a time of crisis, it's more important than ever that they consider relying on the professionals in multifamily management to provide the skills and resources they need to manage their multifamily units from afar.

While the reward from a multifamily property is certainly substantial, the workload is also. Even when you were operating under the standards of "business as usual!" While we're adapting to this crisis as a community, the dangers of COVID-19 have certainly made Novi multifamily management more challenging for investors and property owners.

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What Is the Role of Novi Multi Family Property Management?

April 2, 2020

What, exactly, does Novi multi family property management do for your investment? The best way to understand the role of those who handle multi family units is to spend a few minutes listing out everything you have to do as a landlord if you have no one to help you out.

  • List out the day-to-day tasks.
  • List out the maintenance measures.
  • List those you hire to handle all issues, big or small.
  • List out all that’s required in keeping tenants happy.

Once you’ve done that, think about the financial aspect of your investment portfolio.

  • List out what you need to do to keep money flowing in.
  • List the effort expended in finding new ways of enhancing your revenue stream.

The completion of that master list would comprise most of what a Novi multi family property management company would do for you.

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How to Increase Your Multi-Family Occupancy for Rentals in Detroit

February 21, 2020

In Detroit, if your multi-family occupancy rate is less than 78%, you may be falling behind the competition. However, this is a relatively low figure: nationwide, the occupancy rate is above 93%!

If you want to keep up with the rest of the country, you will have to have—on average—all of your units rented about 340 days out of the year; 13 out of 14 units should be occupied at any given time. Given the challenges in keeping multi-family rental properties adequately occupied, what steps can you take to help keep the kinds of tenants that help fuel your property investment portfolio?

Here are some important considerations when trying to increase your multi-family occupancy.

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