AREI 124: Unlocking Success: The Critical Role of CAPEX and Unit Turn Tracking in Multifamily Asset Management
Welcome adventurous family!
In this episode of we share with you why maintenance matters and we look into the critical, but often overlooked, world of CapEx and unit turn tracking. Learn how strategic planning and smart tracking systems can maximize your ROI, improve resident satisfaction, and keep your budget on track. Come join us and listen in and unlock the full potential of your multifamily assets!
👉Watch the YouTube episode here!
CapEx Tracking
What is CapEx and why is it important to track it?
Categorizing CapEx for accurate financial reporting
Including a contingency budget for unexpected costs
Case study: Overspending on unnecessary unit turns
Maximizing ROI through CapEx Projects
Examples of CapEx projects that increase value (washer/dryer hookups)
Importance of planning and budgeting for CapEx projects
Tracking CapEx spending with a spreadsheet
Ensuring accountability for all parties involved
Unit Turn Tracking
Importance of tracking unit turns alongside CapEx
Data-driven approach to analyzing unit turn costs
Identifying areas for improvement in the turn process
Using unit turn data to hold property managers accountable
Benefits of Meticulous Tracking
Improved budgeting and cost control
Increased ROI through strategic CapEx allocation
Higher resident satisfaction through well-maintained units
Myth Busted: Does CapEx Tracking Really Matter?
Addressing the misconception that CapEx tracking is unnecessary
How neglecting CapEx tracking can lead to significant financial losses
Memorable Quotes:
" Neglecting CapEx expenses will lead to significant financial losses in the long run."
Connect with Cyndee Harding
• Website: https://www.yinyangassetmanagement.com/team-4
• Facebook: https://www.facebook.com/cyndeeharding7/
• Instagram: https://www.instagram.com/the_asset_manager/
• Want to have an Impact on Asset Management Join her course Here!
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