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Guidance for small market affordable rental properties overview

Owners of small properties that rent at affordable levels are not always professional landlords; they often have full-time jobs and own investment properties (and even live in them) as a way of earning extra income.

Without a professional background in property management and building maintenance, they may lack the knowledge and experience to successfully operate rental properties over the long term. To support the owners of these properties and hopefully prevent the loss of existing affordable units due simply to deterioration or financial problems, some cities offer special clinics or workshops on specialized topics. These range from best practices in preventative maintenance and budgeting to marketing units and tenant screening. Cities, towns, and counties can also partner with local non-profits to provide training courses and technical assistance that fosters better property management practices and empowers owners to improve the physical and financial condition of their properties. In neighborhoods with high or rising rents, this guidance can also be helpful for allowing owners of small properties to operate them profitably, helping to defer the sale and replacement of the buildings with newer, luxury units.

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