Multi-Family
Property Management
Are you including multi-unit properties in your portfolio? Multi-unit properties qualify as any property with more than one unit that must be rented out. While there are many advantages to renting out single-family properties, multi-unit properties drastically raise the ceiling on your earning potential.
When starting in real estate rental investments, Rhino Property Management suggests cultivating a portfolio that includes both single-family properties and multi-family properties. We help landlords in Utah with it all! Learn more about what a multi-family property manager can do for you.
Multi-Unit
Why a Multi-Family Rental Property Is a Good Idea
The big draw of multi-family properties is that they allow you to collect multiple rent payments for the same piece of real estate, due to filling that property with a multitude of tenants. Besides that, though, there are other benefits of focusing on multi-unit properties:
- Reduces Risk: You don’t lose all of your income from your property if a unit is vacant for a month, so the risk is spread across multiple units.
- Easier to Purchase: If you want to grow your portfolio with multiple single-unit properties, then you are going to have to purchase many, many properties. Multi-unit properties enable you to get more units for just one purchase.
- More Cash Flow: Operating costs and profits are easier to grow when you are collecting rents from multiple tenants since it increases your cash flow and reduces its fluctuation.
- Easy to Fill: Because units in a multi-family property are typically more affordable than single-unit properties, there is always a demand for them, which makes them fairly easy to fill.
- High Appreciation: The real estate rental market is always beholden to market forces, but multi-unit properties can benefit from forced appreciation by adding amenities that increase rent across all units.
Free Rental Analysis Tool From Rhino Property Management
Want to know if your multi-family property is ideal for renting? Use Rhino’s free rental analysis tool to help determine if your residence is a good fit for tenants.
How a Property Manager Helps
You’re more than likely fully capable of managing your rental property on your own. But you don’t have to, especially if you have other work or personal obligations that keep you busy. Seasoned real estate investors know the value of utilizing a property manager.
Benefits of Our Property Management Services
These are just a sampling of the reasons why you should work with multi-family property managers at Rhino:
- Rhino makes sure your rent is reflective of the local market so you’re getting maximum value for each unit, whether it’s in Weber County, Salt Lake County, or Utah County.
- Our team can help you budget the operating costs for your property so your profits remain consistent, even when unexpected problems or vacant units occur.
- Filling a rental property takes time, but our managers have the resources to fill multi-family units quickly with reliable, screened tenants.
- When you have more tenants in separate units, it increases the likelihood that there will be requests for maintenance, amenities, or other concerns. Your dedicated property manager serves as a liaison between you and your tenants to increase resident satisfaction and your peace of mind.
- Time is money for an investor, and we ensure you can collect a maximum return on your money investment while spending minimal time and stress. You’ll get comprehensive metrics such as maintenance costs, utilities, and rents from Rhino each month so you know where you stand financially.
- Some multi-unit rentals are large enough that they may necessitate security protocols to ensure the safety of the property and the tenants. A property manager can help establish those security protocols (ranging from keycard access to necessary patrols).
- Multiple rental units can mean that the trash can fill up quickly. Let us schedule dumpster rental and pickups for you.
- Attract prospective tenants with quality landscaping managed or provided by our licensed and insured professionals. Rhino works with landscapers to negotiate pricing for requested services.
- Routine inspections ensure your multi-family property is in good shape; we schedule regular onsite inspections of each unit to see what, if any, maintenance is required.
- In the event a tenant needs to be evicted, Rhino will handle eviction services for you.
Let us take the headache out of owning rental properties! With Rhino, you’ll have a dedicated property manager who knows the property market well and works with you to ensure nothing slips through the cracks.
Hire a property manager from Rhino today to get the most out of your multi-family, single-family, or HOA-based property.
Types of Multi-Family Properties
At Rhino Property Management, we help rental property investors with a variety of different types of real estate. When it comes to multi-unit properties, we focus on the following types of properties:
- Duplexes
- Fourplexes
- Small apartment buildings (between 5-10 units)
Hiring a property management company isn’t just for multi-family properties; it’s helpful for the day-to-day management of any type of real estate investment you’ve made. Contact us today to ask how we can help you.
HERE’S WHAT CLIENTS ARE SAYING
Browse our available properties to see the quality homes we manage, and check out client reviews for Rhino Property Management below.
How Much Does a Property Manager Cost?
The main question that many property owners ask when they are considering a property management company is whether or not it is worth the extra expense. At Rhino, we help our clients manage their multi-unit rentals for incredibly low prices when compared to our competitors. See our pricing options below.
- Silver $85/month
- Gold $135/month
- Platinum $185/month
AREAS WE OFFER PROPERTY MANAGEMENT IN UTAH
Rhino Property Management’s offices are located in Murray, Utah, and we serve the following areas:
- Ogden
- North Salt Lake
- West Valley
- Kearns
- Bluffdale
- Lehi
- Syracuse
- South Salt Lake
- Murray
- South Jordan
- Kamas
- Fillmore
- West Ogden
- Salt Lake City
- Holladay
- Taylorsville
- Draper
- Saratoga Springs
- Bountiful
- Millcreek
- Cottonwood Heights
- Riverton
- Eagle Mountain
If you’re not sure we service your geographical location, get in touch with us today.
If you have questions about our property management services or want to get set up with a management package for your rental unit, please don’t hesitate to reach out to Rhino Property Management today!
Frequently Asked Questions
The current market value will determine how much we can rent your property for. Comparisons to other properties impact monthly rent, so the lease amount will reflect several market factors. For a detailed estimate, contact us today.
After collecting rent from tenants, we use direct deposit or a check to send your payments on the 15th of each month.
The average vacancy for our properties is two weeks between tenants.
Whether the work is performed by bonded and insured partners or our in-house maintenance employees, you are only charged for parts and labor. No additional fees are tacked on.
Lawn care is included in our services, so we’ll monitor the condition of your yard and hire out weekly mowing.
We do quarterly drive-by inspections, as well as move-in and move-out inspections.
We charge late fees for unpaid rent, and we start the eviction process when necessary.
Rhino property managers fulfill the following roles and perform the following duties:
- Agent for the property owner (landlord)
- Prepare rental properties
- Inspect properties before, during, and after a lease term
- Advertise open properties
- Make properties available for prospective tenants to tour
- Receive and screen applications
- Manage lease signings and lease renewals including applicable documentation
- Ensure routine property maintenance
- Manage financial components
- Manage administrative components
- For apartments, provide on-site leasing, maintenance, and management services
- Track all correspondence in the property management system
- Provide rental Property Management Software
- Communicate with both owners and tenants
- Coordinate utility payments
A property owner will always have direct access to Rhino Property Management for inquiries or concerns. We likewise reach out to property owners with important updates regarding the tenancy. Property owners can establish with the property manager how they would like to be contacted, for what purposes, and how frequently.