Utilities
Utility expenses are a major component of operating costs for multifamily properties. These costs cover essential services such as electricity, water, gas, and trash removal. Common utility expenses include:
Electricity
Powering common area...
Property Management Fee
The property management fee is paid to the property management company for overseeing the day-to-day operations of the property, including leasing, rent collection, and property maintenance. This fee is typically calculated as a percentage of t...
Insurance
Insurance premiums are an essential expense for multifamily properties, providing coverage against potential risks and liabilities. Insurance protects property owners and management from financial losses due to events like natural disasters, ac...
Real Estate Taxes
Real estate taxes (property taxes) are levied by local governments on land and buildings. These taxes are typically the largest operating expense for multifamily properties and contribute to funding essential public services such as education, ...
Remodeling Projects That Will Boost Your Home’s Value
There are two ways to think about remodeling projects that will boost your home’s value; you can get one or two major remodels done or opt for a bunch of small fixes. Depending on your budget and your timetable, one approach may be better for...
Signs that Now is the Time to Sell Your Home
Deciding when to sell your home is a big decision, one that can have an outsized impact on your financial future. Understanding the general indicators that it might be the right time to sell can help you make the best choice for your situation....
Tips for First-Time Homebuyers
Buying your first home is a thrilling yet daunting adventure. It’s natural to feel a mix of emotions—anxiety, excitement, and maybe even a little fear. But remember: you’re in control of your homebuying experience; and with the right appr...