CRE Investment Tip of the Week | Expand Expense Categories
Updated: Sep 1, 2019
Are expenses getting out of control for your investment property? Can you figure out where it's coming from? If not, have your property management firm breakout expenses into more detailed categories on the monthly or annual basis to be able to see the actual trends over time. The expenses tell a story so it's up to you to be able to read what story its telling you.
A steady uptick of replacement costs may not be enough information to go off of when making decisions. Knowing specifically appliances are the root of the uptick can give you the value piece of information that you need to fire your repairman, buy in bulk, or that an even more serious problem is occurring.
Jake Ammon is a Vice President with Addison Commercial Real Estate in Jacksonville, FL. He specializes in commercial investment properties. Contact him at email@example.com or call Jake at 1-904-834-9809.