The multifamily market has remained a strong and resilient property type for real estate investors. Southern California rental rates and occupancy remain well above the national averages, although many areas of Los Angeles County are experiencing a softening in the market. Unemployment in Los Angeles has remained stagnant at 5% while 74,900 new jobs have been added over the last 12 months. On a national level, more than 135,000 new rental units were built and added to the rental pool in Q1, 2024. Due to the rising cost of homeownership and increased interest rates, has kept many would be home buyers on the sidelines and in the rental pool much longer. Helping to keep the multifamily market a strong investment option.
Although mortgage interest rates have more than doubled in the past 12 months, whereby cutting deeply into property cashflow. Other factors, such as softening of rents, higher operating costs, and the uncertainty of things to come, have resulted in a decrease in multifamily transactions, although property values have remained intact.
Property analysis, accurate underwriting, and a keen understanding of adding value are vital when looking to buy, sell or operate a multifamily asset. The ever-changing maze of landlord/tenant law has made it more difficult for many landlords to operate their investment portfolio. Having an experienced and knowledgeable team behind you will prove helpful in meeting your investment goals.
With the assistance of landlord/tenant legal counsel, EPM implements current legal policies, rental forms, and management implementation to help the property owner operate within prevailing legal compliance.
Let’s face it. Book and record keeping can be time consuming and complicated, and yet, proper, accurate bookkeeping is the economic foundation of any asset. EPM provides expert accounts payable/receivable bookkeeping and reporting services for all our commercial real estate clients. Our accounting department is committed to deliver accurate book and record keeping professionally, accurately and efficiently. Detailed monthly reports give our clients the information they need to budget, prepare property summaries, and make sound decisions. Our custom software is specific to property management, whereby providing tenants the ability to pay rent online as well as on line maintenance requests. Property owners have 24/7 access to log into a secure, private portal, giving them the ability to see monthly reports such as rental income, expenses, general ledger and maintenance records.
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