More than ever before in these times of uncertainty that we face as a community, investors and property owners may be wondering if it's a good time to invest in a Novi multifamily management company. With investors facing the limitations imposed on their ability to provide services to their residents, in a time of crisis, it's more important than ever that they consider relying on the professionals in multifamily management to provide the skills and resources they need to manage their multifamily units from afar.

While the reward from a multifamily property is certainly substantial, the workload is also. Even when you were operating under the standards of "business as usual!" While we're adapting to this crisis as a community, the dangers of COVID-19 have certainly made Novi multifamily management more challenging for investors and property owners.

What, exactly, does Novi multi family property management do for your investment? The best way to understand the role of those who handle multi family units is to spend a few minutes listing out everything you have to do as a landlord if you have no one to help you out.

• List out the day-to-day tasks.
• List out the maintenance measures.
• List those you hire to handle all issues, big or small.
• List out all that’s required in keeping tenants happy.

Once you’ve done that, think about the financial aspect of your investment portfolio.

• List out what you need to do to keep money flowing in.
• List the effort expended in finding new ways of enhancing your revenue stream.

The completion of that master list would comprise most of what a Novi multi family property management company would do for you.

Despite the benefits of owning duplexes, fourplexes, and various other plexes in Novi, the average real estate investor only owns two rental units. If you take into consideration all of the landlords that manage properties with eight, ten, or even more units, that means many investors only have one property!

One of the most significant roadblocks to multiple-unit ownership is the cost of acquiring more than one property. When you pile the hassle of managing multiple properties on top of that, the challenge becomes insurmountable for many investors. Investing in Novi multi family homes may be one of the easiest ways to overcome these and other challenges. 

If you only have one rental property, multi family units may be the easiest entry point to doubling, tripling, or quintupling your investment income. If you’re on the fence between purchasing a single family or a multi family unit for your Novi portfolio, you may want to give these productive assets your time. Here’s why.