8342 Schaefer is a quadruplex located less than a mile from five schools in a family-friendly neighborhood. When looking at the post-Covid world, we believe that the ability to isolate yourself in comfort, with a little touch of green as a back or front-yard, will be very much in demand. Single-family homes will also be in demand, as opposed to large multi-family buildings where isolation is nearly impossible. A quadruplex like 8342 Schaefer offers the possibility of distancing and isolation with a small group like an extended family or a group of friends—what we now call “confinement together”—and also creates economies of scale that you cannot achieve with the expenses of a single-family home. We believe this format strikes an ideal balance for renters in the post-Covid world.

Three of Schaefer’s four apartments are Section 8, and the fourth has a long-time tenant that pays more often than not. When the tenant is unable to pay rent, the property management company hires him to take care of maintenance work on the quadruplex, like cutting the grass, taking care of the common areas for two weeks or a full month, and fixing any fixable items to the other tenants’ satisfaction. This has been an advantageous compromise that has resulted in a stable arrangement for years. The property manager then credits the tenant’s account with the money earned and applies it toward his rental payment, which is then sent to the landlord. This is fine in a small multi-family like a quadruplex. So far, even if this has created some irregularities, rent has always been paid by month’s end.