In a multifamily market that is ‘readjusting’ in a manner approaching a bit of ‘flattening’ (i.e. rents have plateaued but occupancy remains high), owners and operators must understand and focus on resident retention as an issue of paramount importance…particularly in an inflationary period where the costs of turning units have increased. One basic step in retaining residents is to focus on the fundamentals. The link to the article cited below addresses some of these fundamentals. They range from providing Wi-Fi to adding washers/dryers to units (…not sure I’d call this expensive upgrade a ‘fundamental’). Nonetheless, it’s worth spending a few minutes to read the article and consider what fundamentals may be applicable for your property.
Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management and the entire scope of a multifamily  investment. Specific diligence is on property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets (10-to-60-unit properties) and provides a full range of brokerage services for property listing and sale.
Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides.
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