Hi there,
Congratulations on your decision to purchase your first small multifamily property Here are some answers to your practical questions:
### Cleaning Common Areas
You should clean the common areas regularly to keep the property tidy and safe. A good rule of thumb is to clean high-traffic areas like hallways, staircases, and laundry rooms at least once a week. This can include sweeping, mopping, and dusting.
### Pest Control Treatments
Pest control treatments should be done on a schedule to prevent infestations. Typically, you would have a pest control service visit every 2-3 months, but this can vary depending on the region and the specific issues you're dealing with. Make sure to keep records of these treatments.
### Snow Removal
Since you're in Florida, you don't have to worry about snow removal. However, if you ever manage properties in colder climates, it's crucial to have a snow removal plan in place. This usually involves hiring a snow removal service or having a clear policy for who is responsible for clearing snow.
### Heating and Air Conditioning Common Areas
For a property like yours with a hallway, staircase, and basement laundry area, it's not always necessary to heat or air condition these common areas. However, if you decide to install HVAC, it should be based on the comfort and safety of your tenants. If the areas are not climate-controlled, make sure they are well-ventilated.
### Leasing Fees Discounts
Sometimes, property management companies or real estate agents may offer discounts for leasing multiple units. It's worth negotiating, especially if you're working with the same agent for all the units. The traditional one month's rent for the leasing fee is common, but you can try to get a better deal.
### Trash Management
For trash, it's common to have a shared dumpster for the property. To prevent neighborhood use, you can:
- Secure the dumpster with a lock.
- Clearly label the dumpster with the property's address.
- Inform your tenants about the proper use of the dumpster.
Each tenant should be responsible for taking out their own trash on the designated collection days, but having a common dumpster is usually more convenient and cost-effective.
Remember, clear communication with your tenants is key. Make sure to include all these details in your lease agreements and tenant handbooks.
Good luck with your new property!
