April 2024 Newsletter

Welcome to our first monthly newsletter!

This newsletter will contain three distinct sections: Market Minute, Nxt Level and Ask the Editor. The first section is aimed to bring value to you as an investor in multifamily real estate by speaking to trends, statistics and more in the market. The second section will be utilized to demonstrate our expertise in property management and to highlight our biggest wins. The last section will be reserved to answer your questions. That can be regarding market statistics, trends or anything you'd like us to research further.

Market Minute

With a whopping 4,047 units currently under construction, the downtown Salt Lake City submarket leads all other submarkets in the state, according to Costar. The influx of new development has spread to other areas of the state such as 772 units under construction in the North Utah County submarket and 289 units under construction in the Northern Davis County submarket.

With plentiful land for sale and a low multifamily presence, today we would like to highlight the Cache County Submarket as an area of opportunity for multifamily development. Per Costar, there are only 69 units under construction a fraction of the 284 units under construction in Northern Weber County, the nearest other submarket in the state.

Lastly, Costar estimates a population of 127,771 as of 2023 in a 10 mile radius centered in Logan. They project that will increase to 137,667 by 2028. That is an increase of 9,896 or 7.75%.

'Nxt' Level

Nxt Property Management is a premier third party manager of multifamily housing with over 5,800(+) units under management. We are a growing third-party management company which has a culture of interconnection that most companies want to emulate. Our exceptional leaders at Nxt have over 30 years of experience that has resulted in top level operational performance and a personal-touch culture at each property we oversee.

Nxt was established in 2017 under Western States Lodging & Management (WSLM), a company with over 30 years of expertise in real estate development, hospitality and senior care property management. Nxt draws significant advantages from WSLM's extensive experience and robust back-end systems, including HR and Accounting. Guided by the mission statement "Serving you like Family," Nxt is inspired to extend this ethos in interactions with our residents, clients, and associates.

Ask the Editor

Dear reader,

First and foremost thank you for having taken the time to read this newsletter we worked hard to put together for you. These are meant to be for YOU and your benefit.

This last section of each newsletter will be reserved to answer YOUR questions! You can email sales@nxtmgt.com to submit your question regarding market statistics, trends or anything you'd like us to research further. We will be answering at least one question each month from the prior newsletter's submissions.

Want to be the first to know about what’s happening “Nxt”? Sign up for our newsletter email below!

Until next time,

Making Your Rental Pet-Friendly: Tips and Tricks for Pet Owners

Renting a home with a furry companion can be a rewarding experience, but it also comes with its own set of challenges. From navigating pet policies to maintaining a harmonious living environment, there are several factors to consider when living in a rental with pets. Whether you're a seasoned pet owner or a first-time renter with a furry friend, these tips and tricks will help you make your rental home a pet-friendly haven.

1. Understand Your Lease Agreement:

Before signing the lease, carefully review the pet-related clauses and restrictions. Pay attention to any breed or size limitations, pet deposits or fees, and rules regarding pet behavior and cleanliness. Understanding your lease agreement will help you avoid any misunderstandings or conflicts with your landlord later on.

2. Communicate with Your Management Team:

Open and honest communication with your leasing management team is key to maintaining a positive relationship. Inform them about your pet(s) upfront and discuss any concerns or questions they may have. Providing references from previous landlords or demonstrating your pet's good behavior can also help ease their concerns.

3. Establish a Pet Routine:

Create a consistent routine for your pet to minimize disruptions and promote a sense of stability. Set regular feeding times, exercise routines, and bathroom breaks to help your pet adjust to their new environment. A well-established routine can also prevent accidents and reduce anxiety in your pet.

4. Pet-Proof Your Home:

Take proactive measures to pet-proof your rental home and prevent damage or accidents. Secure loose wires, remove toxic plants, and invest in sturdy pet gates or barriers to restrict access to certain areas. Keep valuable or fragile items out of reach to minimize the risk of damage.

5. Invest in Pet-Friendly Furniture and Accessories:

Opt for pet-friendly furniture and accessories that are durable, easy to clean, and resistant to wear and tear. Choose stain-resistant fabrics, washable slipcovers, and scratch-resistant surfaces to protect your belongings from pet-related damage. Consider investing in a designated pet bed or scratching post to provide your pet with a comfortable and safe space of their own.

6. Regular Grooming and Maintenance:

Maintain your pet's grooming and hygiene to keep your rental home clean and odor-free. Regularly groom your pet, trim their nails, and bathe them as needed to minimize shedding and prevent unpleasant odors. Vacuum and clean your home regularly to remove pet hair and dander, and address any accidents promptly to prevent stains and odors from setting in.

7. Be a Considerate Neighbor:

Respect your neighbors by keeping noise levels to a minimum and addressing any barking or disruptive behavior promptly. Be mindful of shared spaces and clean up after your pet when using common areas such as hallways, elevators, or outdoor spaces. Consider introducing your pet to your neighbors to foster a sense of community and goodwill.

Living in a multifamily apartment or townhome with pets requires patience, responsibility, and a proactive approach to pet care. By following these tips and tricks, you can create a harmonious living environment for both you and your furry companion. Remember, a happy pet makes for a happy home!

Creative Ways to Decorate Your Rental Without the Damage

Decorating your apartments can be a tricky task, especially when you want to personalize your space without risking your security deposit. However, with a bit of creativity and the right approach, you can transform your rental into a cozy and stylish sanctuary without causing any damage. In this post, we'll explore some ingenious ways to decorate your rental apartment while keeping it landlord-friendly.

1. Removable Wallpaper: Traditional wallpaper can be a nightmare to remove, but removable wallpaper offers a temporary solution that won't damage your walls. With a myriad of designs and patterns available, you can easily add personality and charm to your space. Whether you prefer a bold accent wall or a subtle backdrop, removable wallpaper allows you to experiment with different styles without the fear of leaving behind a mess.

2. Command Hooks and Strips: Command hooks and adhesive strips are invaluable tools for renters seeking to hang artwork, mirrors, or shelves without drilling holes. These products utilize adhesive technology that sticks to various surfaces, such as painted walls and tiles, and can be removed without causing any damage. From organizing kitchen utensils to displaying your favorite photos, command hooks offer versatility and convenience.

3. Temporary Flooring Solutions: While you may not have the option to replace the flooring in your rental, you can still enhance it with temporary solutions. Rugs are an excellent way to add warmth and texture to a room while protecting the existing flooring underneath. Whether you prefer a plush area rug in the living room or a durable runner in the hallway, investing in quality rugs can instantly elevate the aesthetic of your space.

4. Decorative Window Treatments: Customizing your window treatments can dramatically enhance the ambiance of your space. Opt for tension rods and lightweight curtains or blinds that can be easily installed and removed without drilling holes. Sheer curtains can soften harsh sunlight, while blackout curtains provide privacy and block out unwanted light. Additionally, decorative window films offer a stylish alternative to traditional curtains, allowing you to customize your windows with various patterns and designs.

5. Furniture with Dual Functionality: Maximize the functionality of your home by investing in furniture that serves multiple purposes. Look for pieces such as storage ottomans, sleeper sofas, and nesting tables that offer versatility without taking up too much space. These multifunctional furniture items not only add aesthetic value to your home but also enhance its practicality and efficiency.

6. Artful Arrangements and Decor: When it comes to decorating your apartment, the key is to focus on decorative elements that can easily be removed or rearranged. Experiment with gallery walls using removable picture hanging strips, and incorporate decorative accents such as throw pillows, blankets, and wall decals to infuse personality into your space. By curating artful arrangements and decor, you can transform your rental apartment into a reflection of your unique style and taste.

   Decorating your space without damaging the unit requires creativity, resourcefulness, and a willingness to think outside the box. By utilizing removable decor, temporary solutions, and multifunctional furniture, you can personalize your space while maintaining its integrity and ensuring a smooth transition when it's time to move out. With these tips and tricks, you can create a stylish and inviting home that reflects your personality and lifestyle, regardless of rental restrictions.