Some real estate investors and multi-family landlords think that having all of the numbers is everything they need when it comes to making important decisions about buying, selling, developing, or renovating. Obviously, the numbers have to work in your favor, whether for a short or long-term plan. However, as one who spends hours creating successful opportunities often based on thorough research, I'm here to tell you there is always more to consider than statistics.
The below linked article sheds light on the difference between "finding tenants" and "finding the right tenants" for a rental property, especially when for the long term. It also raises questions about concerns and needs of potential tenants which are not my place to comment on. However, the idea of addressing circumstances for handling problems with tenants at the municipal level is one which needs to be in the discussion.
I can see why a municipality would want something to hold over a landlord if and when a property brings multiple problems to the police and other public service entities. However, having those conditions in place might also discourage developers and investors from wanting to enter certain neighborhoods. Not having enough "fresh" investing could, in the long run, add to greater deterioration of a community which ultimately hurts the residents.
These are things which should be brought to the attention of potential investors, in addition to how the numbers work, when considering development or acquisition. Still another reason why not having a research person or team could cost you more in the long run than having one on your side. Let's connect!
https://www.startribune.com/anoka-doj-crime-free-housing-ordinance-repealed/601203308
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