Instead of setting rigid New Year's resolutions, here are some broader, strategic intentions that can guide your multifamily investment decisions throughout 2025, for Los Angeles apartment owners.
In real estate, timing isn't just about market cycles – it's about recognizing opportunities. Many investors I work with regret waiting too long to:
Implement value-add improvements
Refinance at favorable rates
Expand their portfolio when prices were advantageous
Remember: The best time to optimize your property's performance isn't some perfect future moment – it's when you have the opportunity in front of you.
Action Steps
Schedule a Property Performance Review: Evaluate how your building is performing today versus last year. This will help you identify areas where immediate improvements or refinancing might yield better returns.
Set Quarterly Checkpoints: Every 3 months, review interest rates, market conditions, and your property’s financials. Strike when an opportunity aligns with your goals.
Explore Expansion: Keep an eye on submarkets you’re interested in. If you see deals that fit your criteria, be ready to move quickly.
In Los Angeles real estate, many factors are beyond our control:
Interest rate fluctuations
City ordinance changes
Market rent trends
However, you can control:
Property maintenance and improvements
Tenant screening processes
Operating expense management
Professional property management relationships
Focus your energy on these controllable factors to maximize your property's performance, regardless of market conditions.
Action Steps
Upgrade Maintenance Schedules: Create a proactive maintenance calendar to prevent costly repairs and keep tenants satisfied.
Refine Screening Criteria: Tighten up your tenant qualification process to minimize turnover and late payments.
Review Expenses: Conduct a line-by-line audit of operating costs—utilities, insurance, landscaping. Negotiate or switch vendors to reduce overhead.
Optimize Management: If you’re self-managing, consider hiring or consulting with a professional property manager to streamline operations and increase efficiency.
Not every property improvement needs to be a major renovation. Sometimes, the most effective changes are the smaller ones:
Updating common area lighting
Improving landscaping
Refreshing unit interiors between tenants
Implementing more efficient property management systems
These incremental improvements can lead to significant NOI increases over time.
Action Steps
Create a “Small Upgrades” Checklist: Walk through your property and note inexpensive fixes—new paint, better locks, updated fixtures.
Leverage Low-Cost Curb Appeal: Freshen up landscaping, repaint entryways, and upgrade signage to attract higher-quality tenants.
Plan for Quick Turnarounds: Between tenancies, budget time and money for light unit upgrades like repainting and replacing carpets or flooring.
4. Let Go of Underperforming Assets
Consider releasing:
Properties in declining submarkets
Inefficient management practices
Outdated marketing strategies
Properties that no longer fit your investment criteria
Sometimes, the best way to grow your portfolio is to strategically dispose of assets that aren't serving your investment goals.
Action Steps
Property-by-Property Analysis: Identify any properties underperforming despite upgrades or management efforts. If the outlook isn’t improving, it may be time to sell.
Reevaluate Marketing Efforts: If you’ve been relying on the same listing strategies, explore newer digital platforms or social media to reach prospective tenants.
Audit Your Management Structure: If you’re spending too much energy on day-to-day hassles, consider changing management companies or systems.
5. Go "All In" on Your Strategy
For 2025, consider being All In on:
Your target submarkets (know them inside and out)
Your property management systems
Your tenant relationships
Your professional network
Your property maintenance and improvements
Action Steps
Study Your Submarket: Track recent sales, rent comps, and development news. Your deep market knowledge can help you spot—and act on—opportunities.
Strengthen Tenant Relationships: Implement resident perks like online rent payment, referral programs, or community events to boost retention.
Prioritize Networking: Attend industry events, join local apartment owner associations, and stay connected with trusted service providers.
A single year of strategic improvements and smart decisions can significantly shift your portfolio’s performance and value.
If you’re ready to refine your approach or discuss opportunities, let’s connect — I’m here to help.
Taylor Avakian is a multifamily investment expert and the host of No Vacancy, a podcast dedicated to exploring the latest trends, strategies, and insights in the real estate market. As the founder of The Group CRE, Taylor specializes in helping landlords and investors navigate the complexities of multifamily ownership in Los Angeles.