Field Guide to Multi-Family Property
(Updated September 2016)
Thinking about investing in multi-family property? Apartment buildings, condominiums, rental housing... all of these can be lucrative investments. Or they can be disastrous money pits. In this field guide you will find articles discussing the basics of investing in multi-family properties, market trends, and property management tips. (C. Dodge, Information Specialist)
E — EBSCO articles available for NAR members only. Password can be found on the EBSCO Access Information page.
Multifamily Outlook 2016, (Freddie Mac, Feb. 2016).
Multi-family residential, (Wikipedia, Feb. 24, 2013).
Multifamily Housing, (U.S. Department of Housing and Urban Development, n.d.).
What is MULTIFAMILY HOUSING?, (The Law Dictionary, n.d.).
Top Ten Tips for Landlords
- Screen potential tenants using a written rental application
- Document the important facts of the agreement with a written lease
- Establish a fair system of setting, collecting, holding, and returning security deposits
- Stay on top of maintenance and make repairs when requested
- Provide secure premises
- Provide adequate notice before entering the rental space
- Disclose environmental hazards
- Choose and supervise your property manager carefully
- Purchase liability and other property insurance
- Try to resolve disputes with your tenants without lawyers and lawsuits
Source: Top Ten Tips for Landlords, (NOLO, n.d.).
Landlord Investment Tips
- Have a property management firm screen your tenants
- Require that your tenants have renter's insurance
- Make sure your property is protected for vandalism due to the tenant not taking care of the rental
- Make sure you have insurance that covers you for fair rental loss
- Make sure you have adequate limits of liability
Source: Landlord Beware: Advice to Protect You and Your Investment, (Realty Times, July 18, 2005).
Luxury 348-Unit Multifamily Community Sells for $72.5 Million in Hot San Fernando Valley Market, (Multifamily Biz, Sept. 22, 2016).
Banks Slow Multifamily Lending Even as GSEs Step on the Gas, (CoStar Group, Aug. 24, 2016).
New Apps to 'Virtualize' Apartments of the Future, (Multifamily Executive, July 26, 2016).
Deal or No Deal: Can Airbnb and Multifamily Firms Work Together?, (Multifamily Executive, Feb. 24, 2016).
Top Five Multifamily Investment Markets, (National Real Estate Investor, Feb. 18, 2016).
Strong Demand from Baby Boomers to Continue to Drive Multifamily Home Construction, (National Association of REALTORS®, Sept. 22, 2015).
Multifamily Energy Retrofits Bring Big Savings, (REALTOR® Magazine, Sept. 4, 2015).
The Top 5 Underserved Multi-Family Markets, (Commercial Property Executive, June 22, 2015).
Investing in Multi-Family Property
NMHC 50 List Highlights Unrelenting Nationwide Demand for Apartments, (National Multifamily Housing Council, Apr. 6, 2016).
Fannie and Freddie Reward Affordable Housing Properties, (National Real Estate Investor, June 23, 2015).
The Case for Investing in Multifamily Housing, (Institutional Investor, May 27, 2015).
Six Reasons Why Investing in Multi-Family Housing is a Smart Move, (Cash Flow Diary, Oct. 2014).
Buying a Multi-Family Investment Property, (Reality Times, Aug. 20, 2014).
Due Diligence: Purchasing Multi-Family Investments, (REIClub, June 20, 2014).
Don't Rule Out Multifamily Investments, (REALTOR® Magazine, May 2014).
Tips for Transitioning Apartment Communities into Operational Brilliance, (Property Management Insider, Aug. 1, 2016).
Top 9 Property Management Blogs You Should be Reading, (Updater, May 22, 2016).
How to Start a Property Management Company, (Buildium, Oct. 15, 2013).
How To Manage Your Multifamily Property Manager, (Theresa Bradley-Banta Real Estate Consultancy, n.d.).
Multi-Family Property Management, (Landlord Station, n.d.).
Tips for Buying and Managing Multi-Family Real Estate, (Fidelity Bank, n.d.).
How Do I Manage a Multifamily Housing Complex?, (SFGate, n.d.).
Marketing and Leasing: Multifamily Properties, (Realtor.org). — NAR’s education matrix.
Multi-Housing News — Provides current news and statistics about the multi-housing industry.
National Apartment Association — A trade association for the apartment housing industry.
National Association of Residential Property Managers® — A trade association for residential property managers.
National Multi Housing Council — Provides a forum for insight, advocacy and action for members and the community.
Property Manager — Sells property management software, and shares perspectives and best practices to help manage your property management business.
Books, eBooks & Other Resources
The following eBooks and digital audiobooks are available to NAR members:
The Complete Guide to Buying and Selling Apartment Buildings (Adobe eReader)
Complete Landlord and Property Managers Legal Survival Kit, (Kindle, OverDrive, Adobe eReader),
The Complete Real Estate Encyclopedia, (Adobe eReader)
Every Landlord's Legal Guide (Adobe eReader)
Insiders Tips to Operating a Successful Property Management Company, (Adobe eReader).
Opportunities in Property Management Careers, (Adobe eReader).
Property Management Kit for Dummies®, (Adobe eReader)
Property Manager, Community Manager, Real Estate Manager - How to Land a Top-Paying Job: Your Complete Guide to Opportunities, Resumes and Cover Letters, Interviews, Salaries, Promotions, What to Expect From Recruiters and More!, (Adobe eReader).
Rich Dad's Advisors®: The ABC's of Property Management, (Kindle, OverDrive, Adobe eReader).
Streetwise Landlording & Property Management, (Kindle, OverDrive, Adobe eReader).
Books, Videos, Research Reports & More
The resources below are available for loan through Information Services. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Services at 800-874-6500 for assistance.
Principles of real estate management, (Chicago, IL: Institute of Real Estate Management, 2011). HD 1394 In7rm
The completeLandlord.com ultimate real estate investing handbook, (Hoboken, NJ: Wiley, 2009). HD 1382.5 L49
Buy it, rent it, profit! : make money as a landlord in any real estate market, (New York, NY: Simon & Schuster, 2009). HD 1394 C39
7 Secrets to Successful Apartment Leasing: Find Quality Renters, Fill Vacancies, and Maximize Your Rental Income, (Chicago, IL: McGraw-Hill, 2006). HD 1384 C91
Every Landlord's Legal Guide, (Chicago, IL: Nolo, 2006). HD 1394 St4e
Complete Guide to Buying and Selling Apartment Buildings, (Chicago, IL: John Wiley & Sons, 2005). HD 1377 B46
Practical Apartment Management, (Chicago, IL: Institute of Real Estate Management, 2005). HD 1394 In7pr Ed. 5
The New No-Nonsense Landlord: Building Wealth with Rental Properties, (New York, NY: McGraw-Hill, 2003). HD 1394 J76
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