Global real estate market size is predicted to reach $14.5 trillion by 2030.
Many property owners find that the process is much more than just posting a vacancy notice.
However, multifamily property owners take on more risks if they ignore marketing, tenant screening, or maintenance.
In this guide, you will find some of the most common mistakes almost every property owner makes and how to avoid it.
No matter if you have an apartment, building or many units, avoiding these mistakes below will help you increase your income.
Top Mistakes Property Owners Make & How to Avoid Them
Mistake 1. Skipping proper tenant screening
Today, tenant screening still remains one of the most important steps in property management efficiency. Rushing this process can often cause late rent, damage to units, or lease violations.
Some property owners only check references casually or accept applications without verifying income. Others skip background checks to fill a vacancy quickly.
A good screening process should have credit checks, employment checks, and rental history. Apartment owners who cut corners here often regret it once issues start piling up. Thus, a tenant who looks good on paper but has a history of removals will likely repeat the pattern, unfortunately.
To avoid issues, use trusted screening tools or team up with a property management firm that verifies well.
Or, for example, create a checklist of criteria and apply it to every applicant.
Plus, you can document your process to protect yourself from claims of discrimination.
Mistake 2. Ignoring digital marketing opportunities
One of the biggest errors in 2025 involves skipping digital strategies.
Property owners still rely on basic listing sites (or word-of-mouth, for example) that limits reach.
Today, renters expect professional, visually appealing presentations. So the owners that overlook this, often lose applicants to competitors.
Quality multifamily digital marketing services offer apartment owners online ways to reach new tenants. Among those services are SEO, paid ads, 3D video tours, and social media campaigns.
In fact, 98% of tenants search on Google or social platforms long before they contact leasing offices. Without a digital strategy, your property remains invisible.
On the other hand, apartment owners who invest in digital solutions attract customers through online channels.
So if you don’t want to waste your budget, a team of digital experts can help you with multifamily promotion here.
Mistake 3. Setting rent, without market research
Some property owners guess rental prices or copy the rates of a nearby building.
But that’s not the best approach. This often leads to overpriced or underpriced units.
On the contrary, underpricing fills the apartment quickly but reduces revenue and undervalues the property.
To avoid this, smart owners conduct thorough market research, before setting any renting price.
Also, visiting nearby properties provides insight into how competitors set the prices.
Mistake 4. Overlooking property maintenance
Deferred maintenance is one of the most common mistakes in handling multifamily properties.
Owners sometimes delay repairs to save money, only to face bigger bills later. Among those issues can be a leaking faucet or old HVAC systems.
But that will make the situation even worse, leading to expensive emergency calls.
All in all, poor maintenance lowers satisfaction and increases turnover.
Plus, negative reviews discourage potential tenants as well.
Mistake 5. Writing weak (or unclear) lease agreements
Lease agreements play a huge role here as they protect both parties.
Today, many property owners still download generic templates from the internet. But here’s the catch: most of these documents often lack detail or fail to comply with local regulations.
And, quite often, missing clauses (such as around pets, subleasing, or late fees) create confusion and disputes later.
To avoid this, one should cover:
- Payment terms
- Maintenance responsibilities
- Occupancy limits
- And policies on issues like smoking or noise.
Mistake 6. Poor communication with tenants
Today, communication sets the tone for tenant relationships.
Some property owners respond slowly to messages, ignore calls, or fail to explain policies clearly. This lack of responsiveness frustrates tenants and drives them to leave negative reviews.
All in all, good communication builds trust.
Technology helps here too. Automated text or email reminders prevent late rent. Owners who adopt these tools reduce stress and maintain stronger tenant retention rates.
Mistake 7. Failing to adapt to online rental platforms
Today, renters expect to handle much of the leasing process online.
Nearly 90% of customers look for apartments and properties online. They use the internet for their searches.
Apartment owners who only do in-person showings and use paper applications may lose many potential customers. Companies or platforms who simplify the process attract more renters.
Renters prefer platforms that allow them to book showings, submit applications, and pay deposits online.
Multifamily properties that ignore these platforms appear outdated.
Mistake 8. Forgetting about local business partnerships
Many property owners skip or even don’t wish to connect with local brands.
In this case, property could easily team up with a nearby coffee shop and offer discounts for residents, as an example. A cleaning service might give tenants special rates, while the property owner receives a referral fee.
These cooperations usually create real value for tenants while supporting local businesses.
Tenants appreciate perks that make daily life easier. Owners indeed benefit from happier tenants and extra income streams as they don’t will to seek other apartments.
Mistake 9. Not planning (ahead) for long-term financial stability
Some owners focus only on monthly rent collection and overlook long-term planning.
For instance, some fail to budget for property upgrades, taxes, insurance, or even unexpected vacancies sometimes.
Smart owners today make financial plans that look years ahead. They consider tax obligations and invest in upgrades to boost property value.
A multifamily building with modern amenities draws in tenants who are ready to pay more.
Financial planning should include evaluating loan structures and refinancing options. That’s pretty important.
So owners who act proactively can be safe from downturns and keep their investments profitable.
Final Words
Running multifamily buildings today requires more attention than ever. Competition is intense so property owners should balance profitability with tenant satisfaction. That’s one of the key driving factors to attract stronger tenants and reduce turnover.
So stay updated with the market trends for higher profitability.
