Maximizing Resident Managers In Your Scattered Site Portfolio
By Ben Lauer
Effectively establishing an on-site presence at small-to-mid size multifamily assets can pose challenges for investors and operators alike . If you are a self-manager , it can be difficult to visit your property often enough to keep tabs on what is going on day-to-day . Resident issues come up , maintenance concerns arise , and broadly speaking , things happen on-site that often go unreported .
Similarly , investors who outsource property management may find that without the manager having enough scale for a permanent on-site team , the property is not being visited enough . Whether you are a self-manager , or an owner with a 3rd party manager in place , to ultimately maintain curb appeal , address critical level maintenance issues quickly , and establish long-standing relationships with your residents , you must have a presence on the property , and you must first know of problems before you or your manager are able to address them .
One of the most impactful tools to mitigate these issues is the resident manager , when handled thoughtfully .
Over the years , I have learned a few tips and tricks that will take a resident manager from being lackluster “ eyes and ears ” at your building in exchange for a rent discount , to an invaluable resource in the operation of the asset .
14 | TRENDS AUGUST 2024 www . aamdhq . org