Aug 11, 2018
Ryan Wehner manages over 19,000 units in Texas and Oklahoma. His
third-party property management company provides the day to day
management of apartment properties. Ryan discusses the reasons to
have a management company oversee your asset. Ryan then explores
the state of the apartment market in annual rental growth and what
to expect in the future. On the expense side, Ryan is seeing
increased expenses in property taxes, insurance and employee costs.
He gives an example on the benefit of being a landlord in Texas.
The eviction process is much easier than many states. If you “don’t
pay…you don’t stay”…it is one of the advantages of owning real
estate in Texas. Ryan then explains the benefits that some property
management company’s can offer…a master insurance policy. Michael
uses a master insurance policy and the savings that can be
Ryan discusses the line item expense of water costs. Water cost can be a huge variable expense; from tenant usage and leaks. Carl Wehmeyer is with Niagara Water Conservation. Niagara fights the war against water waste. Carl explains how a simple phone app can save thousands of dollars in water waste on apartment properties. The on-going water monitoring has helped clients save money.
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Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.