by Nick Gromicko
If these new Trump tax changes are implemented, we’re going to need a lot more multi-family buildings. This is good for the owners, buyers, and inspectors of those properties.
Think about it.
- Who benefits by not taxing Social Security? Older people in apartments.
- Who benefits not taxing tips? Food service workers in apartments.
- Who benefits by not taxing overtime? Non-salary workers in apartments.
When tenants have more money, the landlords who have tenants as clients also make more money, have increased ability to raise rents, and suffer fewer evictions. Investors already know this.
And in addition, the recent dramatic increase in building materials make “new builds” more expensive. This equates to less competition for existing existing multi-family building owners and makes their older properties more valuable. Existing properties need to be inspected more often.
Are you an investor/owner in multi-family real estate? Find a CCPIA-certified inspector at https://ccpia.org/find-an-inspector/
