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Apartment Classifications and Expected Returns

consumption-19150_1280-PDApartment Classifications.  When you are an experienced property investor of multifamily properties, there is an apartment grade that you will be intimately familiar with.  Banks are familiar with it, insurance companies are familiar with it, and all investors that invest money in a multifamily complex should be.  Google the topic and find out more if you want, but here is a summary.

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Why do tenants that look at my property seem under qualified?

The fact is, about 30% of tenants are problematic.  They move a lot more than average.  They are evicted, they are requested to move, and their lease is not renewed.  If 30% are problematic, and they move twice as often as a solid renter, that is 60% of the renters that you see seem like they do not qualify to live in your rental.

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Apartment Complex Snow Removal

Apartment Complex Snow Removal.  One of my ‘Jobs’ is I manage the property for a 120 unit apartment complex that many of my rentals are located.  I am the majority owner, so I get a lot of say in the process.  If you are ever an owner in an HOA, be sure to get on the Board.  It makes life much easier.   Continue reading “Apartment Complex Snow Removal”