Owning and operating a multifamily property can be a challenge, however, if you employ a competent property management firm, you’ve already won half the battle. In this article, we’ll review some of the top 20 multifamily property managers of 2020-2021, including Greystar, BH Companies, Lincoln Property Company, Pinnacle Property management, Bozzuto, Cortland Properties, and more.
What is a Non-Recourse Loan in Multifamily Real Estate?
When it comes to multifamily and commercial real estate loans, there are two main types of financing; recourse and non-recourse. When a borrower gets recourse financing, they are typically personally liable if they default on (or do not pay back) their loan. This means that the bank or lender may be able to seize their personal property to achieve repayment of the debt. In contrast, if a borrower has a non-recourse loan, the bank or lender generally can only take back the property as collateral for the debt instrument.