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.