Parking structures account for one of the largest land use in cities and towns. Unfortunately, these structures are primarily inefficient and unsustainable. In the current era of global warming and climate change, sustainable parking is fundamental. Sustainable parking considers people, the environment, and the economy. Urban developers and designers are under pressure to develop smaller,…
You know that you need to do something different about your parking lot. You might be struggling with any of a variety of factors: security, convenience, or even resident satisfaction. Perhaps you know that you have a large parking lot on hand, but you haven’t figured out how to adapt it to help make you…
Multi-family homes make for great investment opportunities. They have a lower cost per unit than standard single family homes, and they allow you to work on a larger scale, giving you an opportunity for greater profits. Following are five useful tips for boosting your net operating income on your multi-family investment.
One of the complaints you no doubt hear often as the owner of a major apartment building is lack of good security in your parking garage. While your tenants perhaps don’t love placing their cars in your garage, you’ve maybe had to tell them that security and available parking are beyond your control.
Everyone wants convenience. As a real estate investor with multi-family units, you need to decide which conveniences will draw in the tenants you’re looking for. Pet owners want simply fee plans and convenient walking paths. New graduates want easy automation and communication that’s online instead of face to face. So look at what your tenants…
There are several investment opportunities out there, but not all of them are worth your money, which suggests that in such situations the return on investment is one of the factors you should never overlook. Some individuals sacrifice a lot when venturing into business and if their operations are not profitable frustrations are inevitable.
Multifamily buildings like apartments and condos come with certain facility-wide costs. Maintaining the common areas, grounds, and parking are in everyone’s best interest. But that doesn’t mean your facility maintenance needs to be costly. One way to cut some expense from your budget is to actively improve the way you manage parking. Traditional parking management techniques…
From the outside, you’d never think that people care much about parking. That is, until you manage a building attached to even a small number parking spots. Whether you control the whole parking area or a few spaces in a shared garage, people care passionately about parking position. And keeping everyone supplied with a spot and…
Every apartment building manager must face the challenge of assigned and enforced parking spaces. Especially when it comes to guest parking. Not only do you have to deal with the usual politics of resident parking, but there is also the added security concerns and unknown variables that guests bring with them. As the holiday season…
After recently moving into a big city apartment, you’re maybe planning some business gatherings or parties in your new digs. One thing you didn’t notice is the parking around your apartment building likely isn’t the greatest. If it’s like most cities, your guests might have to park multiple blocks away in a parking lot or…
In a competitive housing market, finding new residents for your real estate can be a serious challenge. Both buyers and renters are constantly comparing amenities and lifestyle perks. This unit has a washer/dryer, but that one has a lovely balcony. But one thing that can help you get a real edge on the competition is…
According to reports, U.S. drivers spend 17 hours a year on the process of finding a parking spot. And it’s not just drivers who lose out when it comes to parking: property managers and real estate owners miss out on the serious potential on underutilized or poorly-managed parking lots. By harnessing streamlined technological solutions to…
Multi-family living has always appealed to a segment of the population. But, now, that the Millennials have come into their own, it is becoming a wave of the future! Are you ready to ride it? Millennials know what they want and don’t care to settle for less. They don’t want to feel tied down, so home ownership is not high on the…
Building management is hard enough and when you add parking to the mix, it can be a nightmare. We’ve all experienced parking issues; having to park in awkward places while spending more money than we want to. With cities (and even small towns) experiencing population growth, parking becomes increasingly more chaotic and sometimes impossible to…
Managing multi-family real estate is a complicated matter. Dealing with the resulting problems is, of course, best done before you have a flood of complaints from tenants. Here are six very common problems, and what you can do to fix them before they result in a bad day for everyone.