Large Apartment Community Owners are Losing Hundreds of Thousands, with Greg Rice
Greg Rice from Nexus Property Management discusses the issue of larger apartment communities, how they waste money, and what to do to fix it.
Example From the Video:
An On-site office.
What does an on-site office typically contain? Paid employees. This can include a secretary, a leasing manager, a property manager, maintenance, salaried employees, etc. Salary aside, this does not even take into account payroll taxes, unemployment, and additional legal fees.
Greg explains that an on-site is not only unnecessary, but can be very costly. Instead…
Online Management = Highest Efficiency and Quick Service
In order to turn what can otherwise become a liability, turning said property into a rental property instead of an office can be an better use of space, time, and ultimately money.