Evernest Property Management Blogs

If you’re a landlord considering selling or renting your investment property, the topic of fair housing should be at the top of your list to understand. Violating fair housing laws and discriminating during the rental or sale process (whether knowingly or unknowingly) will greatly impact your reputation. Plus you stand to lose a lot of money if you are sued, lose tenants, or your property sits vacant. The Fair Housing Act (FHA), first established in 1968, greatly expanded and improved upon the protections put in place for buyers and renters. The FHA was then expanded several times since, and is now a key element to consider when selling or renting your property. So, let’s dive into the details.

“How much should I charge for rent?” It’s the question every property owner asks at the start of their journey. It’s also a question that doesn’t have a single straightforward answer. Instead, it depends on various factors specific to your property and situation. Luckily, as property managers with over 15 years of experience, we’re experts in pricing rental properties. That means we know just how to guide you toward the right price for your rental home. Let’s take a look at some of the core areas to consider when assessing your rental price:

In the world of property management, accounting plays a crucial role in ensuring the financial success of a company. Strong and effective accounting practices are essential for managing the financial health of both your clients and the business as a whole. In this article, we’ll explore various best practices for mastering property management accounting. That includes topics such as hiring the right accounting team, documenting accounting processes, utilizing fractional CFO and HR services, adopting property management software, measuring KPIs, improving cost management, and preparing for fluctuating real estate markets. Pro tip: We also discussed this topic in-depth during a recent episode of our webinar series. You can find a recording of that event here. Now, let’s dive in!

Whether you’re brand new to investing or a long-time pro, you may have found yourself wondering precisely why single-family homes are the best investment.The answer? Not only are they tangible assets that can appreciate in value over time, but utilizing them in a rental portfolio can bring in steady cash flow for many years to come. Of course, the right path for you depends on your individual investment goals. For example, if you’re looking for a high rate of passive income that is more consistent, have the time to dedicate to more property, and don’t mind the high price point, then a multifamily property might be a better fit for your portfolio.In general, though, single family homes tend to prove the best investment overall, and in this article, we’ll show you why.

If you’ve already started dabbling in real estate investing by way of purchasing and renting single-family homes, then a multifamily property investment is the next step in building out a robust, high-earning portfolio. A multifamily property includes everything from duplexes to small apartment complexes with less than 100 units. The biggest challenge to adding a multifamily property to your portfolio is management of the asset. Who will collect rent from your dozens of residents? Who will clean and maintain common areas, like pools, exercise facilities, shared hallways, and laundry rooms? This is where a company specializing in multifamily property management, like Evernest, can step in to make your income-producing asset a painless part of your real estate holding portfolio. But what exactly would you be paying for? Here’s just what you can expect an excellent multifamily property management company to do:

Multifamily investing offers a nice compromise between single-family and commercial investment properties. You get the increased cash flows and revenues of commercial properties with the simplicity of single-family management. But that also means buying multifamily properties is more complicated than single-family. You have to know how to buy a multifamily home, or you could make an expensive mistake. This guide will give you an overview of buying a multifamily property — whether your first, second, or beyond.

In 2015, Spencer, our Director of Marketing, got a call from an Oregon-based landlord who had bought some out-of-state properties in Alabama. This landlord told Spencer they were having trouble with their existing property manager. How much trouble? Turns out the landlord was paying the property manager to perform repairs… And the property manager wasn’t completing those repairs. The landlord was out over $100,000 at the end of the day. We aren’t saying most property management firms are incompetent, negligent, or fraudulent. But these types of firms do exist. So landlords need to pay attention to key traits when evaluating property managers. Otherwise, they could cost you big time. Let’s take a look at each one:

Many investors set out searching for prime real estate, but are instead greeted with a homeowner’s association, or HOA. Unless you already own a property with an HOA, you may have limited knowledge on what an HOA is and how they function. You may also be wondering, “should I invest in a property with an HOA?” Investing in HOA requires more effort, as you will have to deal with a lot of oversight and restrictions. Many investors find it worth the added challenges, though. Before investing in a property protected by an HOA, you must consider several things, from fees to upkeep. So, should you invest in a property with an HOA? Let’s dive in.

Many investors who want to enter the multifamily rental market are curious about which markets to invest in. But choosing the right market is just one important factor among many in a successful multifamily investment. The most important factors when buying a multifamily property are:

Real estate investing is one of the most bankable strategies to build massive wealth. For beginner investors, investing in single-family homes can be a great first step. After all, single-family homes often offer low risk, great returns, and plenty of flexibility. So, if you’re interested in purchasing your first (or next) SFR, here’s how you can get started today: