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Duplexes, triplexes and apartment buildings. The leases interact, so the management has to as well.
A multi-family building is not several single-family rentals under one roof. The leases interact, the turnover compounds, the common areas need somebody responsible for them, and a maintenance problem in one unit frequently becomes a problem in the one below it.
We manage multi-family across all ten states we operate in. A free rental analysis on a multi-family building prices each unit type separately rather than giving you one number for the whole address.
We manage duplexes and triplexes alongside larger buildings. Below about four units the economics are close to a single-family rental, so the question is usually whether the units turn over at different times, which is where a manager starts earning the fee.
Yes, and on a small building it is the main lever. Letting every lease expire in the same month is how owners end up with four vacancies in August. We stagger renewals deliberately.
Common in older stock. Where a meter is shared, the arrangement has to be disclosed to tenants in writing before they sign and the split has to be agreed in the lease. We set that up correctly rather than leaving it to be argued about later.
Yes. We audit the existing leases, deposits and ledgers first, because that is where the problems are usually hiding, and we tell you what we find before we take anything on.
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