Reasons to Switch Multifamily Property Managers

In the real estate world, there are two types of investors, those looking to make fast cash on a fix and flip, and those interested in the continued revenue stream of a long-term investment. For investors looking to hold onto a multifamily property asset for multiple consecutive years, choosing a top-quality multifamily property management firm is essential to the financial success of the owner, and the quality of life of the residents. The last thing an investor should have to tolerate is their property not operating profitably because of a disinterested or low-quality management firm. At Evernest, we’re welcoming an influx of multifamily property investors who are switching away from antiquated firms. Here are the top reasons we’re seeing investors switch multifamily property management firms.

Impersonal Customer Service

First and foremost, impersonal customer service affects the investor’s experience and the quality of life for the residents. Other property management firms with rapid employee turnover lack the personal touch that we pride ourselves on at Evernest. We are always here to talk with investors about the details of their asset holding, from finances to operational details. In addition, we put a large emphasis on the resident experience, making sure that our representatives offer top-quality customer service to residents, contractors, and investors. We have the talent, technology, and resources of a larger company, but still offer our clients a boutique customer service experience.

Investment Property Holding in Multiple States

More real estate investors are expanding their portfolios into markets all across the country. As an investor with properties in multiple states, it’s possible you’re working with multiple property management firms as well, increasing the administrative overhead needed to manage your portfolio. At Evernest, we have offices all across the country and can offer real estate investors a streamlined solution for managing all of their holdings. Increase your quality of service and have all of your properties managed by one entity by switching to Evernest.

Insufficient Financial Reporting

Are your financial reports unclear or lacking detail? Or even worse, is one of your investment properties operating at a loss? Evernest provides extremely robust month-end financial reporting packages for all of our investors. We also give our investors 24/7 access to real time financial data on their properties in the Appfolio software. When it comes to managing multi-million dollar investments, we believe financial transparency for owners is essential to success. One client recently switched from their previous multifamily property management firm to Evernest because of the quality of the financial reporting and streamlined bookkeeping. All aspects of financial management of your investment property is handled in-house by qualified experts, we do not outsource bookkeeping, bill collecting, or special assessments.

Insufficient Occupancy

Is your multifamily investment property performing poorly because of insufficient occupancy? At Evernest, we believe it is the responsibility of the property manager to ensure that buildings are at 90% occupancy. We will make a plan for “leasing up” the building to 90% that may include refreshing your marketing materials or leveraging unique market insights. Don’t let your investment operate at a loss because of an undedicated operator.

Poor Upkeep in Common Areas

Are you receiving complaints from your residents about the upkeep in common areas? Or disappointed with what you see when you visit your property? Evernest makes on-site management more affordable and higher quality by offering scattered on-site management. We deploy persons from our offices to manage your property on a predetermined schedule to ensure that all common areas are maintained to the highest standard. We work with vetted and approved contractors to facilitate maintenance and construction projects, and internally manage schedules for improvement and expenditures.

How to Switch Multifamily Property Managers

If you’re disappointed in the quality of service that you’re receiving from a multifamily property management company it’s time to make the switch. Reach out to a representative of the Evernest team to schedule a consultation to discuss your portfolio holdings, markets of interest, and revenue goals. In 30-60 days you could be set up and operating more efficiently and profitably with Evernest as your property management partners.