An Unparalleled Time For Multifamily Properties In Utah
This is truly an unparalleled time for multifamily properties in Utah.
I’ve been in real estate in Utah since the mid-1980s when I was running the real estate owned (REO) department at American Savings. At the height of the problem at American, we had nearly 1,000 properties on our books that my department was responsible for managing, improving and selling. It was an unbelievable challenge as property values across the board continued to decline year after year. Buyers were sparse.
Today, we are clearly and resolutely at the other end of the spectrum. Most apartment properties are fully occupied. Rents continue to climb. Values seem to be continuously increasing. Buyers are everywhere competing with one another for deals. Interest rates are near historic lows. Properties available for investment are few and far between. It is truly a seller’s market.
If you are a seller have you realized all of the income opportunities your property offers? Have you frequently analyzed your rental rates to make sure you’re at market? Have you scrutinized your expenses to see if there are savings anywhere? Do you have a list of potential tenants as units turn?
The objective of Svikhart & Associates is to help owners optimize asset management and property management functions to create opportunities that maximize the value of their property.
Please find us at www.svikhart.com or contact me directly at 801-550-5684 to learn more about the firm and the services we provide.
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