Multifamily Asset Management: Why Closing Day Is Just the Beginning
By Mark Kenney | Think Multifamily
Closing on a multifamily property feels like a major victory.
And it is.
But the truth is — closing isn’t the finish line. It’s the starting line.
At Think Multifamily, we’ve seen it repeatedly:
Operators who “take a victory lap” after closing often watch their deals underperform.
Those who lean in — day one and every day after — are the ones who deliver results.
Real Story
We’ve reviewed deals where, after closing, the owners:
Handed the keys to the property manager and checked out.
Failed to track income, expenses, or occupancy weekly.
Ignored renovation delays and rising maintenance costs.
Six months later, projections were off, NOI was down, and fixing the mess was twice as hard (and twice as expensive).
The issue wasn’t the market. It was management.
Key Lesson
Active, consistent (preferably local) asset management is non-negotiable for success.
Smart operators:
Monitor KPIs weekly — not quarterly.
Hold property managers accountable — not just "hope" they're doing their job.
Stay engaged with vendors, residents, and on-site teams.
Adjust quickly when performance lags.
A good business plan doesn’t execute itself. It requires leadership.
Practical Guidance
✅ Set clear weekly and monthly performance metrics.
✅ Conduct regular property visits — scheduled and surprise.
✅ Review financials in detail, not just summaries.
✅ Tackle problems early — before they turn into expensive crises.
Bottom Line
You don’t manage assets by setting them on autopilot.
The best returns come from operators who roll up their sleeves and stay actively engaged — every single week.
🚨 Want to sharpen your asset management game?
Download our free guide: The Guard Dog’s Guide to Asset Management — and learn how to protect your property like a pro.
👉 thinkmultifamily.com/lm-am-guide
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