Who are those tenants of 4-plexes in general?

Question

My experience was limited to SFR but I'd like to learn more about multi-family...

For those tenants usually rents those 4-plexes, why do they choose 4-plexes over apartment?

Do they in general call landlords/management more and cause more issues?

Will they usually lease longer or shorter than those SFR tenants?

Thanks.

JC Conchas · Answer

we have a 4-plex all 1/1.

Unit 1 = is retired woman, kids pay her rent. Been here 15 years, rent is early or on time.

Unit 2 = divorced mother of two small kids. 4 years but have to remind her rent is due, pays it when I tell her.

Unit 3 & 4 = about 5 years each, young families, each two small kids. Direct deposit into separate account for rent at Chase bank. Always on time.

As for turnover, I haven't had much. I believe in providing a good, clean, well maintained apartment, and tenants will stay and PAY. I fix problems within a day, I'm there at least once a week, so they see me. No pets, no smoking, no drugs, no drama, no exceptions...

Also, in California HUD requires 2 people per room plus 1. So a 1/1 bath can have legally have 3 people. living in it. I allow max of four, if they are small kids.

JC

Kyle Mccaw · Answer

SFR tenant tend to stay multiple years, bother the owner less, and are general more financially stable people.

4-plex tenants are similar to apartment tenants. They stay 1-2 years on average. But we do have some tenants that have lived in the same unit for MANY years. If you decide to purchase a 4-plex make sure you get a greater rent to purchase price ratio than a single family. You will have more maintenance, calls, and turn over.

Martin L. · Answer

Thanks for all the useful information!

Deanna McCormick · Answer

So one way to look at it is this a 4 plex usually all 1 brs are going to have a tenant that want a more home like setting,, they are tired of or don't want to walk long hallways, have probably a set parking spot,have more windows, less people to deal with, and not as much noise,... that's also a selling point for you on your 4 plex. lease length is always a issue ,, I've only rented month to month, owned and managed properties and if can say if a tenant want's to leave in the middle of a 12 month lease, that's just what they do. either they skip or just plain could give a hoot.. and if they are lousy tenant your stuck till the lease end to give notice of non-renewal or are trying to figure out a legitimate way to bring cause for eviction.. My month to month lease is basically I say if you leave prior to 6 months i retain $$$ of security deposit for redecorating fee.. a 60 day notice is preferred but 30 is required,, I will guarantee no rent increase for 12 months.. My tenants on the average usually stay about 2.5 years.. and I have 1 br's and only rent to 1 person, single occupancy and don't accept pets..

I would not permit dogs in a 4 plex to hard to track who's not cleaning up the yard..

Who are those tenants of 4-plexes in general?

Who are those tenants of 4-plexes in general?

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​Who are those tenants of 4-plexes in general?

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Who are those tenants of 4-plexes in general?