Gus Grimstad Blog

Gus Grimstad is a Wisconsin-based property manager and entrepreneur with a strong roots on multi-family housing. Known for his resourceful mindset and get-it-done attitude, Gus thrives in the fast-paced world of real estate, where adaptability and vision are essential. With a passion for both people and property, Gus combines operational precision with a deep respect for tenant satisfaction and long-term property value. He specializes in managing multi-family buildings—balancing the needs of residents with the expectations of owners and investors, always working to create spaces that feel like home. For Gus, entrepreneurship isn’t just a title—it’s a mindset. He embraces the highs and lows, the risks and rewards, and the endless learning that come with building something meaningful. Whether solving a tough logistical challenge or uncovering a new investment opportunity, Gus brings energy, accountability, and creative thinking to every project. Driven by a belief that great property management is both an art and a business, Gus continues to grow his impact in Wisconsin’s housing landscape—one building at a time.

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Sump pump reliability is a system, not a single device. Capacity is about real performance, backup matters when storms knock out power, and simple maintenance prevents most failures. https://open.substack.com/pub/gusgrimstad/p/gus-grimstads-sump-pump-reliability

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Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in multi-family housing,

This article takes a closer look at sump pump reliability and the role it plays in preventing water damage before small issues become major problems. It highlights practical maintenance strategies, early warning signs of failure, and the importance of proactive planning to help protect properties from unexpected flooding and costly repairs.

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After a flood, mold prevention is mostly about speed and materials. Dry fast, remove what can’t dry, and don’t rebuild over damp layers that “seem fine.” I wrote a practical guide on what to remove vs salvage, cut lines, and odor control. READ ARTICLE

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Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in multi-family housing,

This article breaks down a practical, step-by-step approach to handling flood emergencies in multifamily housing, with a focus on the critical first 24 hours. It covers key actions like ensuring safety, controlling access, communicating with residents, documenting damage, and starting cleanup quickly to prevent long-term issues like mold and structural damage. READ ARTICLE

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Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in multi-family housing,

This SlideShare presentation outlines a practical 24-hour flood response strategy designed specifically for multifamily property managers. It highlights the critical steps needed to ensure safety, control damage, and maintain organization during a flood event, including securing the property, communicating with residents, documenting damage, and beginning cleanup. The content reflects widely recognized emergency response principles, where preparation, coordination, and fast action are essential to minimizing loss and ensuring recovery.

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When flooding impacts a multifamily property, the first 24 hours are critical. This article outlines a clear, step-by-step response plan focused on safety, communication, and rapid action. From securing the property and assessing risks to documenting damage and beginning cleanup, each step is designed to minimize disruption and protect both residents and long-term asset value. READ FULL ARTICLE

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Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in…

When flooding hits a multifamily property, the first 24 hours are not just important — they are decisive. The actions taken in that narrow…

Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in multi-family housing,

Flooding in multifamily housing isn’t just a maintenance issue—it’s a full-scale operational challenge that demands fast thinking and strong leadership. In the first 24 hours after a flood event, every decision matters. From ensuring resident safety to coordinating cleanup and preventing long-term damage like mold, property managers have to move quickly and strategically.

One of the biggest priorities is communication. Residents need clear, timely updates so they understand what’s happening and what to expect. At the same time, documentation is critical—photos, videos, and detailed notes can make a major difference when it comes to insurance and recovery.

Equally important is acting fast to remove water and begin the drying process. Moisture spreads quickly, and delays can lead to much bigger (and more expensive) problems. Knowing when to bring in professional restoration teams can also be the difference between a controlled situation and a prolonged disruption.

Flood response ultimately comes down to preparation and execution. The best property managers don’t just react—they follow a plan, adapt under pressure, and prioritize both people and property.

Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in multi-family housing, and continues to share practical insights on property operations, crisis response, and long-term asset protection. Read more at gusgrimstad.info.

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Spring thaw is when buildings reveal winter stress. My quick routine: start at gutters and downspouts, follow the water, then check foundations and high-liability areas like lots and walkways. More resources on Gus Grimstad’s main site

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Gus Grimstad: 3 Takeaways From My Spring Property Inspection Routine After a Wisconsin Winter

Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in multi-family housing, and spring is the season where properties tell you the truth about what winter stressed. When snow melts and the ground shifts, the same categories of issues show up again and again: water going where it should not, surfaces becoming liability risks, and small cracks turning into recurring problems.

If you only remember three things from a spring inspection process, make it these.

Takeaway 1: Treat water control as the main event

Most “mystery problems” in spring are really water problems with better marketing.

Basement dampness, musty odors, staining on foundation corners, peeling paint, and even certain pest issues often trace back to the same sources:

Gutters that sag, clog, or hold standing water

Downspouts that dump too close to the foundation

Discharge that points toward the building instead of away

Settled soil that creates negative grading

Catch basins and drains clogged with winter sand and debris

If you focus on water control first, you prevent the most expensive categories of damage. It is not glamorous work, but it pays off fast.

What this means in practice:

Inspect roof edges, gutters, and downspouts early in the route

Walk grading and drainage paths after a melt or rain when possible

Fix discharge direction and distance before you chase interior symptoms

Takeaway 2: Run inspections like a system, not a stroll

The easiest way to improve spring inspections is not to add more items. It is to standardize the route and documentation.

A repeatable inspection has three benefits:

You spot changes faster because you are comparing the same angles each year

Vendor quoting becomes easier because locations and photos are consistent

Your spring list becomes a planning tool, not just a reaction list

Simple standards are enough:

Take a wide shot and a close-up for each issue

Label by building and side of the property, plus a landmark

Mark hazards onsite so the right repair happens quickly

Track recurring locations, not just individual problems

When you do this yearly, you build a portfolio memory that does not depend on one person.

Takeaway 3: Triage immediately so your list does not become noise

Every property inspection produces a long list. The difference between a useful list and an overwhelming one is triage.

I like three buckets:

Now (safety or active water): Trip hazards, loose railings, major potholes, broken lighting, active leaks, gutters dumping at foundations, standing water against walls.

Soon (issues that escalate in weeks): Downspout extensions, small grading fixes, drain cleaning, crack sealing before spring rain cycles, minor flashing or caulk repairs.

Plan (capital and root causes): Recurring foundation seepage that needs a real drainage solution, base failure in asphalt, chronic ice dam patterns, major regrading, waterproofing work.

This keeps teams focused. It also prevents the common mistake of spending time on cosmetic items while water and liability issues stay unresolved.

Final note

Spring in Wisconsin is not just a change of weather. It is a stress test result. A tight spring inspection routine keeps surprises small, repairs predictable, and residents safer.

Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in multi-family housing, and you can learn more at Gus Grimstad.

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Resident onboarding is where most preventable property problems either start or get stopped. Clear expectations, simple “how to get help” rules, and a good move-in walkthrough can reduce complaints, late fee disputes, and repeat maintenance issues. I wrote a practical framework you can reuse for any multifamily building. Learn more: Gus Grimstad

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I just published a SlideShare deck that lays out Gus Grimstad’s Resident Onboarding Playbook, a simple, repeatable system designed for 50+ unit communities and multi-building portfolios.

What’s inside:

A clear onboarding timeline (pre move-in, move-in day, 7-day check-in, 30-day check-in)

A resident welcome guide checklist

Communication standards that reduce confusion and repeat complaints

Quick wins that lower avoidable maintenance and boost renewals

If you manage apartments, oversee onsite teams, or operate a portfolio, this is built to be practical and easy to implement.

View the SlideShare

Learn more about Gus Grimstad: www.gustrimstad.info

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Gus Grimstad - Property Manager..Entrepreneur..Multy-Family Housing Specialist..Based in Wisconsin

Gus Grimstad is a Wisconsin-based property manager and entrepreneur with strong roots in multi-family housing. He is known for a resourceful, get-it-done mindset and a practical approach to real estate operations.

In multi-family property management, the little things add up fast. Clear communication, timely maintenance, and consistent policies all shape how a building feels to the people who live there. Gus focuses on balancing resident satisfaction with long-term property value, working to create spaces that feel like home while keeping operations running smoothly for owners and investors.

Learn more here: Gus Grimstad.

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Gus Grimstad on Embracing the Slow Start to Build a Smarter Year

Why the early months of the year are the best time to strengthen your systems, mindset, and direction

In property ownership, especially with multi-family buildings, it's easy to think that success comes from doing more. More improvements. More communication. More tools. But as Gus Grimstad often points out, real strength doesn’t come from doing more—it comes from doing the right things at the right time.

And January is exactly the time to get that clarity.

This season doesn’t offer the rush of spring renewals, the pressure of summer turnovers, or the distractions of fall maintenance. But that quiet? That’s the opportunity. The early months of the year offer something no other season can: space to reset, rethink, and plan without urgency.

In this article, we’ll look at how Gus approaches this quieter season to prepare his buildings, systems, and mindset for the year ahead—without overworking or overcomplicating things.

Start with a Calm Inventory, Not a List of Goals

Most people rush into the new year with aggressive lists. Fix this. Upgrade that. Reach this number. And while ambition has its place, Gus Grimstad doesn’t start with goals—he starts with observation.

In January, he walks through his properties with no agenda other than to notice. He listens for unfamiliar sounds, checks corners for signs of water damage, and pays attention to how the building “feels” in winter. It’s less about spotting problems and more about tuning into the day-to-day rhythm of the space.

These walks don’t take long, but they give him a baseline for what’s normal—and what might need attention in the months to come. And more importantly, they give him space to think clearly, away from the noise of to-do lists.

“The building usually tells you what needs attention,” Gus says. “You just have to be quiet enough to hear it.”

Recheck Your Calendar for Hidden Bottlenecks

It’s not just about what you want to do this year—it’s about when those things will hit. Maintenance, lease renewals, landscaping, HVAC checks, insurance reviews—they all take time. And they all seem to come at once if you’re not looking ahead.

That’s why Gus spends a couple of hours each January walking through the full year’s calendar. He isn’t mapping out every task. He’s just spotting trouble areas.

Are there three big vendor appointments scheduled the same week? Do several leases expire in a single month? Is there a better way to spread out major work?

This step doesn’t change what needs to be done—it just makes sure it doesn’t all land in the same place.

“The calendar isn’t just for planning,” Gus explains. “It’s for protecting your sanity.”

Revisit Tenant Communications—Even if There’s Nothing New

Tenants don’t always remember policy details from their lease, and they shouldn’t have to. What they do remember is how and when you show up.

Each January, Gus Grimstad sends a short note to all tenants. Not to announce changes, but to reestablish presence. It’s a message that says: “We’re here, we’re thinking ahead, and we’re still looking out for this place.”

He may include reminders about winter procedures (like heat settings or snow safety), but the tone is always calm and collaborative. No bold red fonts. No “urgent” updates. Just steady leadership.

That tone has a ripple effect. Tenants who feel respected tend to communicate more openly, submit maintenance requests earlier, and stay longer.

Clean Up the Digital Side of Property Management

When things get busy, small inefficiencies in digital systems start to stack up. Documents pile up. Folders get messy. Spreadsheets get duplicated or outdated.

The beginning of the year is Gus’s cue to clean house—digitally.

He consolidates leases, renames confusing files, clears out old invoices, and reviews tenant records. Nothing flashy. But once done, the entire management process feels lighter.

This isn’t a “tech stack overhaul.” It’s a digital deep breath.

“Your building needs physical maintenance,” Gus says. “But so does your inbox.”

Taking a couple hours now can save hours of frustration later—especially when you're searching for a lease renewal notice or trying to remember when the roof was last serviced.

Take the Pressure Off Growth

Every industry starts the year with pressure to expand. Bigger buildings. More units. New tools. But Gus Grimstad is quick to point out that growth doesn’t have to mean scale. It can mean strength.

Instead of chasing rapid expansion, Gus looks for ways to grow his systems—things like improving vendor consistency, strengthening tenant trust, or shortening maintenance response times.

These aren’t headline-grabbing changes, but they make the business stronger. And they set the stage for sustainable growth later, should it come.

“You can grow without growing,” Gus says. “Focus on making your current work smoother, cleaner, and more reliable.”

This mindset shift also helps prevent burnout—because you’re no longer trying to juggle everything at once. You’re just doing the next thing well.

Final Thought: Don’t Waste the Stillness

The best time to prepare isn’t when things go wrong—it’s when things are still. That’s what makes the early months of the year so valuable for property owners.

They give you a chance to slow down, check your systems, clean up loose ends, and prepare—not react. That’s what makes the rest of the year smoother.

For Gus Grimstad, this season isn’t about dramatic change. It’s about quiet reinforcement. Not sprinting into the year, but walking through it with awareness and care.

That way, when the busier seasons arrive, you’re not scrambling. You’re ready.

Because good property management isn’t just about fixing what breaks—it’s about building something that doesn’t break as often in the first place.

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How Gus Grimstad Thinks About Tenant Retention: The Quiet Strategy That Builds Long-Term Success

Keeping good tenants isn’t luck—it’s leadership with a plan

Tenant turnover is expensive. Every time a tenant moves out, it costs time, money, and momentum. There’s cleaning, repairs, marketing, showings, screening, vacancy periods—and often unexpected stress.

Yet many landlords focus almost entirely on getting new tenants, while overlooking the quiet, consistent value of the ones they already have.

For multi-family property owners, retention isn’t just about avoiding hassle—it’s a strategic advantage. And according to Gus Grimstad, a Wisconsin-based property manager who spends his days thinking about buildings, systems, and people, “Retention is rarely about grand gestures. It’s about showing tenants that you pay attention—consistently.”

Here’s a grounded, practical guide to tenant retention, built around the steady, thoughtful approach that Gus Grimstad is known for.

1. Start with Respectful Communication

Tenants don’t need their landlord to be their best friend. But they do want clear, fair, and respectful communication.

That means:

Responding to maintenance requests promptly

Giving proper notice for inspections or repairs

Communicating lease renewals clearly and early

Setting expectations and honoring them

Gus Grimstad emphasizes simplicity over flashiness here.

“The landlords who keep tenants the longest aren’t the most charming—they’re the most reliable.”

2. Make Maintenance a Priority (Before It Becomes a Complaint)

Nothing erodes trust faster than ignored maintenance. Tenants want to know that the place they call home is safe, functional, and cared for.

That means:

Fixing small issues before they grow

Checking in seasonally about appliances, heating, A/C

Keeping common areas clean and well-lit

Following up after repairs to ensure the issue is resolved

Preventive maintenance isn’t just good for your building—it shows tenants that their comfort matters. And people stay where they feel respected.

Gus Grimstad often advises newer landlords:

“If you treat the property well, tenants will follow that lead. Care breeds care.”

3. Review and Renew Proactively

Lease renewals shouldn’t sneak up on you—or your tenants.

Instead:

Reach out 90 days before the lease ends

Ask how things are going before discussing rent

Offer renewal options early, with incentives when possible

Provide clarity on any increases and why they’re happening

Most tenants appreciate stability. When you give them a heads-up—and treat them as individuals rather than income lines—they’re more likely to stick around.

This kind of thoughtful timing is something Gus Grimstad builds into his calendar each quarter. It reduces friction and builds long-term trust.

4. Offer Small Touches That Go a Long Way

You don’t need to spend thousands on luxury amenities. Sometimes, small thoughtful gestures make the biggest impact.

Examples:

A welcome note for new tenants

A holiday card or small treat in December

Quick thank-you messages after on-time renewals

A shared message when snow removal is on the way

An annual feedback request (and action on it)

These moments show tenants that they’re more than unit numbers.

Gus Grimstad shares that in one of his smaller buildings, the simple act of delivering winter prep notes and salt packs to front steps helped keep turnover almost nonexistent.

“It wasn’t about the salt. It was about showing we were thinking ahead—for them.”

5. Keep the Rent Process Smooth and Predictable

Most tenants don’t mind paying rent. What they mind is confusing systems, unclear deadlines, or penalties they didn’t expect.

Retention improves when tenants can:

Pay easily (online options matter)

Understand exactly when and how rent is due

Get reminders in a professional, non-aggressive tone

Know what to expect if they’re ever late

A friction-free rent system is a retention tool. It builds consistency. And consistency is what makes good tenants feel confident in staying.

6. Respect Their Home—Not Just Your Property

A rental unit is a business asset for you. But for your tenant, it’s where their kid learned to ride a bike, where they cooked Thanksgiving dinner, where they unwind after long days.

Respecting their space means:

Not showing up unannounced

Not doing work without notice

Not entering units unless truly necessary

Being mindful during inspections or showings

Tenants who feel respected don’t just stay longer—they take better care of the space, too.

Gus Grimstad shares this quietly:

“Every tenant deserves to feel like their space is their own. That trust is part of the lease—even if it’s not written down.”

7. Know When to Let Go

Not every lease should be renewed.

If a tenant consistently breaks rules, disrespects neighbors, damages property, or causes headaches that outweigh their rent—sometimes, the best retention decision is non-renewal.

It frees you up to serve your good tenants better. And it keeps the overall tone of your building healthy.

Retention is not about keeping everyone—it’s about keeping the right ones.

Final Thoughts: Retention Is a Leadership Choice

Tenant retention doesn’t happen by accident. It happens when landlords commit to consistency, clear communication, and care.

It’s not about flashy amenities or luxury perks. It’s about building quiet trust—day after day, lease after lease.

The landlords who retain long-term tenants are the ones who lead well behind the scenes. They anticipate needs, respond professionally, and treat people like people.

Gus Grimstad says it best:

“Most retention isn’t magic. It’s just showing up, being steady, and fixing what you say you’ll fix.”

That kind of leadership doesn’t always show up in your bank account right away. But over time, it builds something much stronger: a reputation, a rhythm, and a rental business that actually lasts.

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What Gus Grimstad Wants Owners to Know: The Case for Capital Planning in Multi-Family Properties

Staying ahead of costly surprises—and investing with purpose

For many multi-family property owners, the day-to-day demands of running a building are more than enough: collecting rent, managing repairs, coordinating vendors, keeping tenants happy. But while short-term operations keep the building going, it’s the long-term capital planning that determines whether your investment grows—or stalls.

If you've ever found yourself caught off-guard by a $15,000 roof replacement or a failing HVAC system, you're not alone. These aren’t just maintenance hiccups—they’re major costs that, if unplanned for, can disrupt cash flow or even derail your investment.

Gus Grimstad, a Wisconsin-based property manager and small business owner, knows this firsthand. He often shares with fellow owners:

“If you wait until a capital item breaks, you’ve waited too long. You don’t have to predict the future—you just need a plan.”

Here’s a guide to help you start thinking about capital planning not as a chore—but as one of your smartest strategies for protecting and growing your investment.

What Is Capital Planning, Really?

Capital planning refers to the process of forecasting, budgeting, and scheduling large-scale, non-routine property improvements. These include:

Roof replacements

HVAC systems

Parking lot resurfacing

Window and siding upgrades

Major plumbing or electrical replacements

Structural work

Common area overhauls

Unlike regular maintenance (like changing filters or repainting trim), capital expenditures (CapEx) are big, infrequent, and essential.

And that’s exactly why they need to be planned for—years in advance.

Why Capital Planning Gets Overlooked

There are a few reasons owners tend to ignore capital planning:

It feels far away. If the roof isn’t leaking, why worry about it?

It feels expensive. And it is—but it’s a lot cheaper when you save for it gradually.

It’s not urgent. Until it is—usually during the worst time, like winter or tax season.

It feels overwhelming. Without a system, it’s hard to know where to start.

But ignoring capital needs doesn’t make them go away. It just makes them more expensive, more disruptive, and more stressful when they eventually demand your attention.

Step 1: Inventory Your Property’s Major Systems

The first step in capital planning is understanding what you have—and when it might need replacement. Walk your property (or review inspection reports) and list:

Roofing

HVAC (heating, cooling)

Plumbing systems

Electrical panels

Windows and doors

Parking lot or driveway

Siding, foundation, and exterior walls

Appliances (in shared units or common areas)

Water heaters or boilers

Elevators (if applicable)

Fencing and landscaping features

Security systems

For each item, note:

Approximate age

Current condition

Estimated replacement cost

Manufacturer’s suggested lifespan

This becomes the foundation of your capital plan.

Gus Grimstad recommends creating a simple spreadsheet.

“You don’t need fancy software,” he says. “You just need a document that tells you, ‘Here’s what might break in five years—and here’s what it’ll cost.’”

Step 2: Prioritize Based on Risk and ROI

Not all capital improvements are created equal. Some are urgent. Others can wait. And some can boost property value or tenant satisfaction in big ways.

Here’s a quick prioritization approach: PriorityDescriptionExamplesHighSafety or structural riskFailing electrical panel, leaking roofMediumNearing end of life, could fail soonHVAC system at 20 years, windows leakingLowCosmetic or low-impact upgradesNew lobby paint, upgraded mailboxes

Also consider ROI potential. A parking lot repaving might not “wow” tenants—but new windows that improve insulation could lead to better retention and lower energy costs.

Step 3: Budget Gradually, Not All at Once

Once you know what’s coming, you can start to spread out the cost.

Instead of waiting for a $12,000 roof bill to hit you in one year, you can:

Allocate $2,000/year to a capital reserve fund

Use the extra time to shop vendors

Time the work with lower occupancy or off-season pricing

Aim to contribute 5–10% of annual rental income toward future capital needs. It’s a healthy baseline that can prevent financial shocks.

Step 4: Schedule a Rolling 5-Year Plan

Create a five-year roadmap that includes:

What you’ll likely need to replace

Estimated costs

Target timeframes

Funding plan (reserves, financing, insurance, etc.)

Here’s a sample excerpt: YearProjectEst. CostNotes2025Replace 2 HVAC units$8,000Units are 18 years old2026Resurface parking lot$10,000Cracks forming, due for refresh2027Replace front windows$15,000Improve insulation, reduce energy bills

Revisit and revise this plan annually.

Step 5: Communicate Capital Planning to Your Team

If you work with a property manager, bookkeeper, or maintenance lead, make sure everyone understands the capital schedule.

Why?

Your manager can time upgrades around tenant schedules

Your bookkeeper can build reserve contributions into your monthly budget

Your vendors can give you better pricing with longer lead times

Even if you’re managing solo, documenting the plan helps you stay focused and avoid reactionary spending.

Gus Grimstad puts it simply:

“The goal isn’t to predict every problem. It’s to avoid being surprised by the ones you already knew were coming.”

Final Thoughts: Capital Planning = Calm Ownership

There’s no magic trick to make roofs last forever or plumbing never fail. But there is a mindset shift that can change how you experience those events.

When you stop viewing capital projects as disasters—and start seeing them as scheduled investments—you’ll find property ownership to be a lot more stable, a lot less stressful, and a lot more profitable.

So take a cue from owners like Gus Grimstad: build your list, build your budget, and give yourself the confidence of a plan.

Because in real estate, peace of mind isn’t bought—it’s planned for. Read more here.

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Set the Vision: How Multi-Family Owners Can Lead With Clarity in the New Year

Don’t just survive the next year—build it with purpose

A lot can happen in a year of property ownership. Maybe you filled every unit and hit record rental income. Or maybe you faced unexpected repairs, tenant turnover, or a winter storm that reminded you just how unpredictable this business can be.

No matter what the past year looked like, January brings a moment to pause. Not just to catch your breath, but to set your vision—not just goals, but a clearer picture of what you want your property, your investment, and your role as an owner to look like 12 months from now.

Because property management isn’t just about spreadsheets and smoke alarms. It’s about direction. Here’s how to start your year with intention—and keep that vision guiding you all year long.

1. Ask: What Do I Want This Property to Become?

Think beyond the next rent cycle. Ask yourself:

Do I want to renovate and reposition the building?

Do I want to improve my online reputation and branding?

Do I want the property to run more passively, with less of my direct involvement?

Do I want to raise the quality of life for tenants and become known for it?

Your building is more than its square footage. It's an asset with potential—and your job is to shape what it becomes.

As Gus Grimstad puts it, “The best landlords I know treat their buildings like living things. You can’t control everything, but you can guide the direction.”

2. Decide What Kind of Owner You Want to Be

Take a moment to reflect on your role—not just your job title.

Are you the hands-on, boots-on-the-ground kind of landlord? Are you trying to step back and build systems so you can scale? Are you committed to being the best housing provider in your neighborhood?

Knowing who you want to be helps determine what you need to do—and more importantly, what to let go of.

If the past year left you feeling like a firefighter more than a property owner, it may be time to redefine your identity in this business.

3. Write a Property Vision Statement (Yes, Really)

It doesn’t need to be long. Just 3–4 sentences that clearly describe what you want your building to look, feel, and perform like by this time next year.

Here’s an example: “By the end of the year, I want this property to be 100% occupied with stable, respectful tenants. I want all units to be freshly painted and common areas upgraded. Rent collection should be fully digital, and I want my involvement to drop to no more than 5 hours per week.”

Writing this kind of vision creates a target to align with all year.

Gus Grimstad recommends this exercise every January. “Without a vision, you’re stuck in maintenance mode. A statement like this becomes your North Star—even when the daily grind tries to pull you off course.”

4. Review the Obstacles From Last Year

Every landlord hits roadblocks—legal issues, bad tenants, surprise expenses, vacancies. Don’t just move on—learn from them.

Ask yourself:

What slowed you down?

What mistakes could have been avoided with better planning or help?

What systems failed under pressure?

Treat these obstacles like teachers. They reveal the cracks in your processes—and your mindset.

5. Identify Key Relationships That Need Strengthening

No landlord succeeds alone. January is a great time to reconnect and recommit to the people who support your business:

Tenants

Vendors

Your property manager

Accountants or tax advisors

Local housing professionals

Send a quick thank-you note, schedule a short call, or check in with service providers. Strengthening these relationships early sets the tone for smoother collaboration all year long.

As Gus Grimstad notes, “Your network is your safety net. In this business, the relationships you build are just as important as the buildings you own.”

6. Get Real About Time (And Delegate If You Need To)

One of the biggest things that holds owners back from growth isn’t money—it’s time.

You don’t have to do everything yourself. Ask honestly:

What tasks do I dread?

What’s eating my weekends?

What would free up my time for smarter planning—or just peace of mind?

This could be the year you:

Hire a property manager

Automate rent collection

Delegate bookkeeping

Outsource tenant screening

Letting go doesn’t mean losing control—it means stepping into a smarter role.

Gus Grimstad says it well: “Delegation is how you stay sharp. It’s how you move from working in the property to working on it.”

7. Choose One Bold Move

Every year should include at least one move that pushes you forward. Not just maintenance, but momentum.

This could be:

Raising underpriced rents

Refinancing for better terms

Adding laundry or storage income

Launching a new marketing campaign

Buying another property

Whatever it is, choose one bold move that aligns with your vision—and commit to making it happen before summer.

Final Thoughts: Build With Vision, Not Just Routine

The most successful multi-family owners aren’t just the ones with the biggest buildings or highest rents. They’re the ones with a clear vision—and the habits to back it up.

When you take the time to clarify what you want (and what you’re building), your day-to-day decisions become easier. The hard calls make more sense. The late nights feel more purposeful.

So before the new year kicks into full gear, pause. Reflect. Write. Envision.

And as Gus Grimstad reminds us, “Don’t start another year reacting. Start by leading. Lead your property, your people, and yourself—with vision.”

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New Year, New Property Goals: How to Reset and Refocus as a Multi-Family Owner

Start the year with purpose, not just a to-do list

January doesn’t just mark the start of a new calendar—it’s a reset button. And for multi-family property owners, it’s one of the most powerful times to take a breath, zoom out, and ask:

What kind of landlord do I want to be this year? What kind of property do I want to run? What kind of income and experience do I want to build?

Because let’s face it: this business moves fast. Between tenant questions, maintenance calls, leasing tasks, and bookkeeping, it's easy to stay stuck in reaction mode all year long.

But if you carve out time right now—even just a quiet afternoon—you can set the tone for the entire year. Here’s how to reset and refocus with intention, clarity, and confidence.

1. Revisit Your "Why"

Before diving into spreadsheets or service contracts, step back and ask yourself why you got into this business.

Was it to build long-term wealth?

Create passive income?

Grow a portfolio you’re proud of?

Leave your 9–5 job?

Reconnecting with your purpose helps shape your goals—and reminds you that every lease signed, every repair made, and every tenant conversation is moving you in that direction.

As Gus Grimstad often says, “When the day-to-day starts dragging you down, go back to your ‘why.’ It makes everything clearer and lighter.”

2. Set Just Three Priorities

There are always 100 things you could do for your property. But what are the three things that would truly move the needle this year?

Maybe it’s:

Upgrading common areas to raise rents

Hiring a property manager to free up your time

Refinancing to lock in a better rate

Improving tenant retention to cut turnover costs

Choose your top three and write them down. Post them where you’ll see them. Keep them front and center—because when everything feels important, nothing gets done.

3. Streamline One Major System

If last year felt chaotic, don’t overhaul everything at once. Choose one system to simplify:

Rent collection: Move to online payments

Maintenance tracking: Start logging requests digitally

Lease management: Switch to digital signing and storage

Tenant communication: Use a group text app or management portal

Even one change can dramatically reduce your workload—and increase tenant satisfaction.

Gus Grimstad recommends a simple approach: “Ask yourself: what part of managing this building frustrates me most? Fix that one thing first. Then move on.”

4. Audit Your Property’s Online Presence

In today’s rental market, your online presence matters more than ever. Start the year by:

Googling your property’s address

Checking photos and reviews on Zillow, Apartments.com, or Facebook

Updating your website (if you have one)

Refreshing your listing description

Small tweaks to your digital presence can make a big difference when it's time to fill a vacancy.

5. Walk the Property Like a Tenant

Sometime this month, do a full walkthrough—but this time, see it through a tenant’s eyes.

Is the entryway clean and well-lit?

Are hallway lights working?

Is the laundry room functional and tidy?

Do common areas look inviting?

Take notes and fix what you can. This kind of proactive care not only improves tenant morale—it protects your asset’s value.

According to Gus Grimstad, “When tenants see that you notice the little things, they start taking more pride in the space too. That’s how you build a culture, not just collect rent.”

6. Reconnect with Your Tenants (Even Briefly)

You don’t need to host a holiday party or drop off gift baskets. But even a simple gesture goes a long way:

A handwritten note

A quick thank-you text

A small update posted in the entryway

Tenants want to feel like they’re more than just a rent check. When they feel seen and respected, they’re more likely to stay, pay on time, and take care of their units.

7. Build or Revisit Your Vendor List

Winter is the worst time to realize you don’t have a reliable plumber, roofer, or snow removal crew. Take a few minutes now to:

Confirm contact info for your go-to vendors

Add backups for emergencies

Look for gaps (pest control? appliance repair?)

Put the list somewhere easy to access when things go sideways—because they eventually will.

Gus Grimstad compares it to insurance: “You don’t think about your vendor list until you really need it. But when the pipes burst or the stairs ice over, you’ll be glad you planned ahead.”

8. Forecast (Don’t Just Budget)

Budgets look backward. Forecasting looks forward. Use your past year’s income and expenses to answer:

What months are historically slower?

How much should I save for seasonal maintenance?

Can I afford to raise reserves or tackle upgrades?

Where am I likely to overspend again?

You don’t need to predict everything perfectly—but even a simple forecast can help you feel more in control.

9. Ask: Do I Need Help?

This is the hardest but most powerful question you can ask yourself as a landlord.

Do you need to:

Hire a part-time property manager?

Bring in a bookkeeper or tax advisor?

Use a virtual assistant for scheduling or tenant follow-up?

Many owners think they should “tough it out” and do it all. But time is money—and burnout is expensive.

Gus Grimstad always reminds fellow landlords, “Asking for help isn’t failure—it’s how you scale. It’s how you get your weekends back. It’s how you stay in this game long-term.”

Final Thoughts: The Property Will Reflect You

Your property is a living system. It reflects the attention you give it—or the neglect.

Starting the year with clarity, priorities, and support means that your building stays full, profitable, and peaceful—not just for your tenants, but for you too.

And remember: you don’t have to fix everything at once. Progress, not perfection, is how smart landlords build real success.

Here’s to a new year filled with smoother systems, better tenants, and a bit more breathing room than last year. Read more here.