Navigating the Challenges of Mid-Sized Multifamily Property Management

Managing mid-sized multifamily properties, particularly those between 30 to 70 units, presents unique challenges. These properties often lack the income necessary to support full-time management and maintenance staff, leading to difficulties in tenant turnover and maintenance issues. Unlike smaller properties, which have infrequent management needs, or larger ones that can afford dedicated teams, mid-sized properties require a different approach to management. Part-time personnel are hard to find, making it difficult to maintain these properties effectively. However, this challenge creates a competitive advantage, as there is considerably less competition from both small-scale and large-scale investors. Many mid-sized property owners are not professional investors and often neglect financial management and maintenance, which can impede their ability to sell at top dollar. Networking directly with these sellers can provide opportunities for advantageous deals, as brokers typically avoid properties with poor financials or significant deferred maintenance, further reducing competition in the market.