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AREI 124: Unlocking Success: The Critical Role of CAPEX and Unit Turn Tracking in Multifamily Asset Management
Manage episode 410195476 series 2929860
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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
Tweetable Quotes:
" Neglecting CapEx expenses will lead to significant financial losses in the long run."
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