> Our team has analyzed these deals using our custom bulk property analyzer. If you’d like more detail regarding any of these listings, click the links below.

Canovo Group may not be the listing brokerage for the above properties. The information provided is not guaranteed and should not be relied upon to make investment decisions. Buyers should complete their own analysis and due diligence before making any investment.

> Here's a roundup of multifamily properties sold over the past week. We've estimated their selling cap rates using our bulk analyzer.

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> Multi-Unit (2+ Units): Total Sold and Price Per Sq Ft

• The median sold price/sf for multi-unit property is up 5.46% year to date going from $241 last year and $254 this year to date.

• The total listings sold for multi-unit property is up 15% year to date going from 300 last year and currently at 345.

> Multi-Unit (2+ Units): Active Listings and Price Per Sq Ft

• The median asking price/sf for active multi-unit listings is down 2.22% going from $265 last year and $258 currently.

• The total number of multi-unit listings is up 39% going from 189 last year and 263 currently.

> Single Family Homes: Total Sold and Price Per Sq Ft

• The median sold price/sf for single family homes is up 3.49% year to date going from $224 last year and $232 this year to date.

• The total listings sold for single family homes is down 1% year to date going from 24,450 last year and currently at 24,666.

Source: Mortgage News Daily

It is normal for Property Owners to spend time and energy finding or creating a well written lease. It is also normal for Property Owners not to adhere to the lease. For example it seems common today for a tenant to sign a 1 year lease and then want to break the lease and move out after 3 months. Us as Property owners want to be understanding and don’t charge them the penalty that is in the lease because we can fill the vacancy quickly. What we didn't account for was the time and energy it takes to fill that position. The utilities that we will have to pay for later as it sat vacant and the expectation you give to the other tenants that it is ok to break the lease when it suits them, which costs us more time and money in the future. This is just one example of where we get ourselves into trouble. Here are three additional reasons why we should always stick to the lease we signed.

• Legal Protection: A well-crafted lease agreement provides legal protection for the landlord by outlining the rights and responsibilities of both parties. It serves as a contract that can be used in legal proceedings if necessary. If we deviate we could be accused of discrimination which is against the fair housing act.

• Consistent Expectations: A lease establishes clear expectations for the tenant, including rent payments, property maintenance, and acceptable behavior. This helps to maintain a consistent and predictable rental environment. It is best to have all tenants on the same page.

• Property Preservation: Adhering to the lease agreement helps to preserve the value and condition of the property. By enforcing lease terms related to pet policies, noise restrictions, and maintenance responsibilities, landlords can protect their investment. Collecting rent per the lease will also ensure better returns when it is time to sell.

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Other News and Reports

David Robinson

Principal Broker/Managing Partner