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Running a scattered-site property management company like CAP Real Estate keeps me on my toes. One minute I'm crunching numbers, the next I'm mediating a tenant issue, and then I'm strategizing about our next acquisition. It's a constant juggling act, and without the right tools, it would be impossible. That's where Rent Manager comes in. We've been using it since the beginning – it's the only software we've ever known, actually. And honestly, I'm not sure how we'd manage without it at this point. They recently did a piece on us for their blog, and it's a pretty good overview of how we use the system. You can check it out here. It's funny because when you're in this business, you're always looking for ways to make things more efficient. Rent Manager has been a real game-changer for us in that respect. One of the biggest things for us is the flexibility of the platform. We've built so many custom processes using Rent Manager's features. From tailoring owner statement packages to generating the exact reports we need, it's all there. The mobile apps, like rmAppSuite Pro, have also streamlined our entire work order process. Our maintenance techs can use it in the field, which means faster turnaround times and happier tenants. And rmResident? That's been our tenant's best friend. They can pay rent, submit maintenance requests, and access their lease info all from their phone. It makes everyone's lives easier. One of the things I appreciate most, though, is the support they offer. Their team is always willing to help, and Rent Manager University has been a lifesaver for training our staff. It's a pretty comprehensive system, and there's always something new to learn. We're even expanding our services now, offering back-office support to other property management companies. And as we grow, I know Rent Manager will be right there with us, helping us scale and continue to provide top-notch service. If you're in the property management business, I can't recommend Rent Manager enough. Do your research, but in my experience, it's the most customizable and comprehensive solution out there. It's an essential tool in our toolbelt, and honestly, I don't know what we'd do without it. Check out the full article on the Rent Manager blog to learn more about how we use it and how it can help you too.

I know a lot of investors that look for apartment buildings that are distressed in some form or fashion, or the property is a “value add” opportunity.  Before I get into the content of this blog, let me first explain what I mean.  “Value Add” opportunity is just what it sounds like.  It is an opportunity for an investor to purchase a property that is “distressed,” meaning there is something wrong with it, such as it has a lot of vacancies, has been poorly managed, something is physically wrong with it, and it needs a lot of work or a combination of the three.  So, when an investor purchases a “value add” opportunity, they are purchasing a property with these problems, which is usually all three or sometimes even more, and they are going to put in the money, time, and resources to cure these problems and increase the value of the property.  So, now that we have defined what a value-add opportunity is, I’m going to talk about the repositioning of the value-add project itself.  Repositioning is the actual process you go through as an investor to take the property from its distressed state to its market value state.  This is the act of getting rid of bad tenants, doing renovations to bring the property up, and then putting new tenants in, often in that order or something very similar.  If the property is a larger multifamily property, then chances are you will start to work on some of the property while leaving some existing tenants in for cash flow reasons.  These tenants that you inherit are the real subject matter for the “double dip” theory I’m about to expand upon. Depending on the time of year and the geographic location of your value-added property will determine how much of the “double dip” effect you will experience.  The warmer it is outside, the less of an impact, or rather, the quicker you will get through the dips. But if it’s colder outside and you take over a property in, say, late fall going into the winter months, then you can experience “tenant hibernation,” and the double dip may take a few extra months to fully work itself through the cycle.  The first dip in occupancy you will experience is the easy one to spot.  This “first wave” is tenants who simply do not pay their rent.  You will find these people out within the first 30-90 days of operation.  They will at first have an excuse as to why they didn’t pay.  If it’s in the first month, it will be something along the lines of, they were confused and didn’t know where to send it, or They paid the old owner, doing this is a stall tactic while you give the benefit of the doubt, etc., or they will simply avoid you.   Some of these will pay for a partial or even full month the first month or two, but you will have identified these wonderful human beings within the first ninety days of operation.  The second dip , or second wave of deadbeat tenants, is a little harder to spot, and depending on the time of year you are taking over the property, it could be prolonged.  These tenants are the problem tenants.  The ones that pay their rent, but they are a nuisance to the property.  They have junk all over, they piss in the hallways, they are fighting with neighbors, or they have a spouse they are always arguing with or something.  These tenants make it hard to get good new tenants in.  Now, if you are taking over in the summer or spring months and it’s warm outside, you will find this tenant relatively quickly.  They like to frequent the property outside by drinking and carrying on, so it’s not hard to spot; however, if you take over when it’s cold or in the fall going into cold months, you may not spot them for quite some time since you are initially dealing with the non-payers and these tenants will pay initially then slip into hibernation on you and not emerge until spring.  The problem with this happening during the winter months is if you are doing your job right and repositioning the building, then you have new tenants moving in.  So, you will take your initial dip in occupancy with the non-payers, start to come back up, then you will have the second dip of asshole tenants, and then you will dip back down again, and then after that, you will start to steadily climb back up with a better tenant base.  Unfortunately, there isn’t a cure for this.  The only known cure is to buy a property completely vacant, and not everyone can do that, or those opportunities are not always available.  The best you can do is ask the landlord during your due diligence for bank deposit records of paying vs. nonpaying tenants.  Make sure the deposits match up to what the rent roll they are providing you.  If the rent roll says $10,000 per month and they are showing you consistent deposits in the $7,000 - $8,000 per month, then you know you need to ask questions.  Did new tenants move in?  Why the discrepancy?  For the second dip, this is harder.  You must make multiple trips to the property before you buy it and when you first take over.  You need to interview tenants and ask them who the problems are.  Call the local police before you purchase the property and ask how frequently the police are called on the property.  Trust me, if there is a tenant that is always getting the police or fire to call on them, you will find out soon enough, and chances are they will be part of the second dip of tenants you must evict.  Jesse Brewer  Licensed Real Estate Broker and property investor

If you own rental property and self-manage, then chances are you have considered at some point hiring a property manager at some point, or maybe you are considering it now.  If you are on the fence about hiring a property manager for your current or future investment properties, then here are five reasons why you might want to lean more toward the side of hiring one.  Reclaiming your time -   Owning an investment rental property can take up a lot of time, and often, the time you need to spend taking care of something comes at an inconvenient time in our day-to-day routine.  Tenants have needs, and things go wrong in a house or apartment If you are the manager, they are going to call you wanting a resolution.  Whether it be getting someone to clear the clogged toilet, fix the leaky sink, get them in because they have lost their keys and are locked out, or whatever the case may be.  Issues come up and take time, and time is a commodity that most of us do not have enough of. Helping source manpower and other needed things - right now, manpower and general labor are at a premium, and most of us are having a hard time getting qualified folks to show up and do the job.  If you have just one or two properties, you may not garner the same response and attention from a qualified tradesman that someone who manages, say, 1000+ properties would get.  So, by allowing a manager to manage your properties for you, there is an increased probability that your property will get the service it needs promptly instead of just trying to do it all on your own. Financial reporting - The back-end financial reporting on your investment property is just as important as the day-to-day needs of taking care of the property.  You can save or lose thousands of dollars in paying for things you do not need to, not accounting for expenses for your taxes properly, and not being able to identify issues promptly.  Good reporting can keep you current with the expenses and trends of your property and save you a lot of money and headaches in the long run.  Maximizing the investment - A lot of the self-managing owners I talk to generally do not keep up with the current market rates and trends on rental rates and apartment finishes to be competitive in the market.  A good property manager can help with both since they are doing this full-time and are plugged into their markets to see what the rental rates are.  Chances are, if you own a property and manage it yourself, there is a likelihood that you are leaving money on the table in rental rates that can be maximized sometimes, these increases in rates can offset most of the expense of a manager and you can pay for it and still enjoy the other benefits of a good management company.   Avoid burnout  - If you self-manage a property, then there is a high probability that you will eventually experience burnout, and if that happens, then you will be less likely to continue to invest in real estate and grow your portfolio and opportunities, thus negating the very reason you started investing in the first place.  A good manager can keep your perspective fresh and positive and focused on opportunities to earn profit from good investments. No matter what type of property you have, there are benefits to hiring a manager, and often, the savings and value they can bring to the table more than pay for their services.  Here at CAP Real Estate, we specialize in residential real estate, such as rental homes and multi-family housing.  If you would like to schedule a consultation to see how our services can benefit you, please contact us using the form below.

Discover how great renting can be See Available Rentals Find Tenant Resources Pay Your Rent Grow Credit with CAP Property Owners & Investors Read about Investing Log In to your Owner Portal Visit the Investors Hub Easily Pay Your Rent Online Manage your account and check past payments through our online portal Manage Your Rental Payments New Here? Applying for a rental is easy Scroll through our "Available Listings" and when you find the one you love click "Apply Now" to begin the application process for that apartment See All Available Rentals Recently Listed Rentals 1/1 $825/mo Apply for this Rental 0 bds | 1 ba | Fort Thomas, KY Tenant pays Duke only. $50 will be added monthly for water, sewage and trash usage. 1/8 $775/mo Apply for this Rental 1 bds | 1 ba | Cincinnati, OH 2nd floor unit. Tenant pays Duke only. Bill back to tenant for all other utilities. 1/7 $700/mo Apply for this Rental 1 bds | 1 ba | Cincinnati, OH 1 bedroom basement apartment in Arlington Heights. Close to a bus line & the 75 interstate. 1/9 $925/mo Apply for this Rental 1 bds | 1 ba | Ludlow, KY Nice first floor 1-bedroom, 1-bath unit available for rent See More Available Rentals Grow Your Credit with C.A.P. Your on-time rent payments can now help Boost your Credit Score! Starting December 19th, 2024, all C.A.P. tenants have been enrolled in a new rent reporting program offered through Boom. Only on-time rent payments will be reported, so if you miss a payment, don't worry! This program is designed to help you build your credit. Please Note: there is an additional fee of $5.95 a month for this service Click Here to Learn More Read and Learn More About Investing in Real Estate C.A.P.'s Latest Blog Posts How Rent Manager Helps Me Run CAP Real Estate Running a scattered-site property management company like CAP Real Estate keeps me on my toes. One minute I'm crunching numbers, the next... A Newly Created Property Investor Real estate has created more millionaires than anything else in this country and continues to be a haven for those trying to build wealth Tips on Purchasing Investment Property Insurance Shopping for property insurance can be one of the most daunting tasks when owning real estate. Read this blog to learn some tips to help you See All Posts

Available Rentals Discover your perfect home. We offer a diverse selection of apartments to fit your lifestyle and budget. From cozy studios to spacious family units, we have something for everyone. Browse our available rentals to find your ideal living space. Filter results by number of bedrooms 0 1 2 3 1/8 W 8th #7 Cincinnati, OH Rent: $775/mo Bedrooms: 1 Bathrooms: 1 2nd floor unit. Tenant pays Duke only. Bill back to tenant for all other utilities. Apply for this Rental 1/1 Highway Ave #2 Ludlow KY Rent: $900/mo Bedrooms: 2 Bathrooms: 1 Top floor unit Apply for this Rental 1/9 Oak St #2 Ludlow, KY Rent: $925/mo Bedrooms: 1 Bathrooms: 1 Nice first floor 1-bedroom, 1-bath unit available for rent Apply for this Rental 1/7 East 28th Street #2 Latonia, KY Rent: $795/mo Bedrooms: 1 Bathrooms: 1 Private entrance - 2nd floor unit - Tenant pays all utilities except for sewer and trash Apply for this Rental 1/5 East 45th #4 Latonia, KY Rent: $745/mo Bedrooms: 1 Bathrooms: 1 Third floor walk up, Tenant pays water and power Apply for this Rental 1/6 Alexandria Pike #204 Fort Thomas, KY Rent: $900/mo Bedrooms: 1 Bathrooms: 1 Remolded unit. Tenant pays water and power. Off street parking. Available now Apply for this Rental 1/5 Greenup St Covington,KY Rent: $750/mo Bedrooms: 1 Bathrooms: 1 Second floor unit, Power and water are tenant paid Apply for this Rental 1/11 Alexandria Pike #11 Fort Thomas, KY Rent: $1325/mo Bedrooms: 2 Bathrooms: 2 In unit W/D hookups - Off street parking Apply for this Rental 1/8 E 28th Street Latonia, KY Rent: $850/mo Bedrooms: 1 Bathrooms: 1 2 floor unit, Move in ready Apply for this Rental 1/8 Banklick St Covington, KY Rent: $1300/mo Bedrooms: 2 Bathrooms: 1 Whole single family home Tenant pay water and power Apply for this Rental 1/10 Ash St Ludlow, KY Rent: $1300/mo Bedrooms: 3 Bathrooms: 1.5 Whole single family home Tenant pay water and power Apply for this Rental 1/3 London Acres #502 Newport, KY Rent: $900/mo Bedrooms: 1 Bathrooms: 1 Nice ground floor 1 bed, with off street parking Apply for this Rental 1/10 W 9th #1 Newport, KY Rent: $975/mo Bedrooms: 2 Bathrooms: 1 1st/Ground floor unit - WD hookups - Basement! Apply for this Rental 1/7 Elliot Ave #2 Cincinnati, OH Rent: $700/mo Bedrooms: 1 Bathrooms: 1 1 bedroom basement apartment in Arlington Heights. Close to a bus line & the 75 interstate. Apply for this Rental 1/1 Highway Ave #3 Ludlow, KY Rent: $695/mo Bedrooms: 1 Bathrooms: 1 HALF OFF FIRST MONTHS RENT! Nice first floor unit. Move in ready! Apply for this Rental 1/1 Pleasant Ave #302 Fort Thomas, KY Rent: $1025/mo Bedrooms: 1 Bathrooms: 1 Second floor unit. Charming 1-bedroom, 1-bath unit available for rent in Fort Thomas, KY! Apply for this Rental 1/1 Alexandria Pike #205 Fort Thomas, KY Rent: $825/mo Bedrooms: 0 Bathrooms: 1 Tenant pays Duke only. $50 will be added monthly for water, sewage and trash usage. Apply for this Rental 1/1 Pleasant Ave Fort Thomas, KY Rent: $975/mo Bedrooms: 1 Bathrooms: 1 Tenants pays electric only -Coin laundry on site. Apply for this Rental

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