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6 must-know industry trends for small property managers

Buildium

Fact #3: Tenant Quality Is Property Managers’ Top Concern Finding financially stable tenants is getting harder as rent growth outpaces wages, causing property management companies to prioritize tenant screening. In 2024, tenant quality emerged as the #1 concern for property management companies.

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Five Ways to Boost Employee Retention in Property Management

Appfolio

Since mistakes will be made early in a property manager’s career, it’s important to provide mentorship and help your staff learn from these mistakes. Unfortunately, upper management sometimes forgets the toll that this takes on the team. . But software is only one piece of the puzzle. .

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3 Ways Mobile Access to Real-Time Data Helps You Maintain Business Continuity

Appfolio

From social distancing mandates to eviction bans, property management businesses across the country have had to change their workflows and policies to adapt to the constantly changing environment. For instance, on AppFolio Property Manager PLUS, you can create customizable reports , such as income, cash flow, and rent roll.

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Budget Season: A Strategic Opportunity for Multifamily Rental Growth

American Apartment Owners Association

Rent growthis decelerating from the double-digit increases seen in 2021 year-over-year rent growth currently stands at -0.8 Tasks like tour scheduling, applicant vetting, lease renewals, rent collection, and maintenance requests are prime candidates for automation.

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Budgeting Post-Pandemic: How to Forecast With the Numbers You Have Now

Propertyware

By: Laurie Mega It’s so easy to get caught up in the everyday logistics of property management. Focusing on rent and fee collection, marketing to attract tenants, and communication with owners can take the spotlight off the health of your core asset: your business. “At

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How are modular homes addressing the multifamily supply problem?

MRI Software

million homes in 2021 to 4.5 For multifamily property managers and landlords, this growing demand is paired with the challenges of high construction costs and long project timelines. When developers spend less on construction, they can pass those savings on to tenants in the form of lower rents. million in 2022.

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Property Management Profitability: FAQs on Profit Margin

Second Nature

In 2017, the average profitability in the property management space was 6%, and the top 25% of performers profitability was 25%. In 2021, the average profitability was 11%, and the top performers were 32%. Many rental property managers may not realize they could strive for anywhere from 25% to 32% profitability.