No vacancies when I took over and at a 9.2% CAP.

May 2025 find your homes filled with happy guests, very little vacancies, and high nightly rates.  :-)  Reflecting on 2024, what is everything thinking will change in the coming year? 

That’s assuming you don’t lose money to vacancy, capex, etc etc.

A property manager’s expertise in handling maintenance issues, dealing with tenant concerns, ensuring legal compliance, and keeping vacancy rates low can make a huge difference in the financial performance and sustainability of a property.

Vacancy, maintenance/cap ex, PM, Misc.  

(Unfortunately, the investor fell for this gimmick and did NOT get their own 3rd party inspections, appraisals or even visit the properties they were buying, against our best efforts to encourage proper due diligence and follow our check list for their own protection.)So now some people are stuck with properties worth half what they paid (not all RWN members), with no renovation done, and constant repairs and vacancies. 

The D/F locations look great on paper but almost never pencil out that way with all the vacancies and expenses. 

If so, invest.Then ask yourself if you're financially fit; can afford this property to make it 1.25 DSCR and have significant reserves for vacancy, capex, lead times, etc.

Now I have two vacancies and lower rents than when we started. 

We started raising the rents on the 3 and 4 BR units until the rate of leasing slowed to a normal pace.Fast forward two years and we found ourselves with higher vacancy on those same units.