This year marks the 50th anniversary of the passage of the Fair Housing Act (FHA). The FHA bans discrimination in housing-related transactions based on race, color, national origin, religion, sex, familial status, and disability. Much progress has been made, but there are still persistent inequalities in access to high-quality neighborhoods with good employment, well-performing schools, and transportation.
As a rental property owner, not only do you have to consider your building’s physical condition, but also keep in mind the safety of your residents, your business, and yourself.
As a rental property owner, utilities make up a large portion of your budget. A study done by the Institute of Real Estate Management found that for the average multifamily property owner, the utility costs equate to roughly 25% of all operating expenses.