SUMMARY
Every dollar of NOI has a multiplier attached to it. In this episode, we break down how small operational decisions today can add — or erase — hundreds of thousands in value tomorrow.
In this episode of The Property Playbook, Rory Anderson sits down with multifamily broker Max Fiascone to break down why NOI is the scoreboard you can’t ignore—and how everyday operational choices directly shape property value.
From a “resort-style” amenity fail that crushed resident trust to real-world examples like converting a model unit back into revenue and stopping expense leakage in a heated parking garage, this conversation connects the dots between resident experience, disciplined operations, and exit value.
If you’re an operator, asset manager, or owner who wants to run your building like a business, this one’s for you.
CHAPTERS
00:00 Introduction to Multifamily as a Business
02:46 Understanding NOI and Its Importance
07:04 Strategies to Increase NOI
08:37 Operational Decisions Impacting Value
11:20 Expense Management and Leakage
13:30 The Importance of a Business Plan
17:22 Communication Between Owners and Operators
18:19 Preparing Properties for Sale
21:24 The Role of Online Scheduling in Demand
24:10 The Impact of Amenities on Resident Retention
26:26 Best Practices for Property Management
KEYWORDS:
property management, multifamily, NOI, net operating income, cap rate, asset management, property operations, leasing strategy, resident retention, expense audit, operational efficiency, value creation, multifamily investing, apartment management, third-party management, owner mindset, investor mindset, budget management, cost segregation (optional), rent growth strategy, Google reviews, amenities management, maintenance operations, utility billback, vendor bidding, underwriting, exit strategy, property valuation, Milwaukee multifamily, Madison multifamily
27:44 Operational Changes for Long-Term Value
30:33 Thinking Like an Owner
32:13 Balancing Home and Asset Perspectives
35:45 Conclusion and Key Takeaways