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Managing Multifamily Properties

July 10th, 2015 garnerproperties
Detroit Skyline

There are many different types of housing in the marketplace, ranging from small apartments to homes and duplexes to many unit housing complexes. Garner Properties & Management has experience with managing it all, and has years of experience with managing multi-family properties for a number of our clients. These shared occupancy buildings come with their own set of challenges and responsibilities separate from free-standing homes. Here’s a look at some of the ways Garner Properties can help you make the most of your apartment building.

Mixed Use Management

A number of buildings today are being converted or built new to accommodate a combination of commercial and residential occupants. Oftentimes these are designed to have retail space on the first floor or floors with apartments and condos located above or as rental units surround a central core with space for shops and stores. With an effective property manager, you can take the stress out of managing these different groups and their unique needs and let professionals take care of it. By screening applicants collecting rents and dealing with any issues that arise, the Garner team can make sure that your tenants – whether businesses or families – are all taken care of.

Moving ElevatorManaged Move-Ins

Related to mixed use, but also an issue in larger shared buildings is managing new tenants’ move-in dates and departing residents’ move out schedules. In both cases, people may need access to a limited elevator or freight access point to load or unload belongings and furniture. Our management team can work with all parties to reach arrangements that work for everyone involved. In addition, we can take care of coordinating move-in and move-out walkthroughs to document the condition of your rental properties before and after tenancy to make sure that no damages are unreported and that all of your units are well taken care of from the beginning of the lease to the end.

Rental PricesCompetitive Pricing

Another consideration with multi-family housing is making sure that your units are fairly priced when compared to other units on the market. According to 2014 data available from the National Multifamily Housing Council, 42 percent of Americans live in multiunit housing with five or more units, making it the leading type of household in the country. With so many properties attempting to attract the same audience, we leverage our years of experience working in the rental marketplace to assess your building and determine the fair market value for rents at your location. Many factors go in to determining what an acceptable level of rent is, including the building location, included amenities, floor plans and your own expenses, and we can work with you to determine a pricing point that both appeals to prospective occupants and your financial goals.

Tenant Conflict Resolution

In any renting situation, there’s a potential for there to be a disagreement. In single-family occupancy situations, this is most commonly an issue between the owner and the tenant, but in buildings with several units those conflicts are more often between different residents. Whether it’s loud music, foul odors, raucous footsteps or unruly pets, our management team has plenty of experience with settling these issues deftly and with respect to all parties involved.

Detroit SkylineLarge Investment Management

Garner Properties also has extensive experience with managing properties for owners with large investment portfolios using our Dynamic Portfolio Management System (D.P.M.S.). This system allows us to incorporate a wide variety of management structures and their unique needs into a single unified system for our clients that allows them to quickly and easily see any issues that need to be resolved with their properties, see current statements and balances and manage all aspects of your rentals from screening and signing leases to managing policies and procedures for your properties down through move out and post-tenancy cleaning and repairs. Read more about our D.P.M.S. and all of the benefits available for managing your extensive holdings today.

With our affordable rates and comprehensive suite of services, you’re sure to find greater success with less hassle and stress when using Garner Properties to manage your properties. Find out more today by calling us at 888-658-2160 or contact us online for more information.

Written by garnerproperties

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