Rental Basics in 47303>Question Details

Donald Norton, Both Buyer and Seller in Delaware County, IA

what is easier to manage multifamily, or single family homes?

Asked by Donald Norton, Delaware County, IA Mon Dec 28, 2009

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Donald when you get the phone call at 10:00 at night that "the people upstairs are walking to loud but have stopped now" tell me which is easier. Multifamily properties you have to be a counseler, single family you just have to make sure that they are keeping the property in good repair.
Web Reference: http://www.Find1Home.com
0 votes Thank Flag Link Tue Dec 29, 2009
Some of your decision making should revolve around what is most profitable for you and how much time you think it would take to manage each property (multi or single). If the multi is by far more potentially profitable (with less risk as you spread risk to more tenants), and requires only 1.2x more time on your end then the risk/reward is in check and the time commitment is too (as it relates to reward). Seriously consider your master plan too -- are you blending ownership from single and multi, do you really only see yourself as multi, are you more experienced in minor repairs and have little time to manage issues should they come up, etc. All things to think about. This is more than what's easier to manage...

Hope it helps. The other answers are on the mark too.

Steve
0 votes Thank Flag Link Mon Dec 28, 2009
Donald,

Many of the problems involving property management can be associated to people being physically located in too close a proximity to each other.

For this reason, it is our opinion that the management of single family homes should involve fewer of these types of managerial concerns.
0 votes Thank Flag Link Mon Dec 28, 2009
Will you be managing yourself--consider--multifamily have multiple problems; single family homes have single problem--it's your choice multiple or single problems---things that could go wrong include, heating, electric, plumbing, structural, etc.

Anna
0 votes Thank Flag Link Mon Dec 28, 2009
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