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Tips to Minimize Tenant Turnover

American Apartment Owners Association

The costs associated with vacant units, marketing to new tenants, and preparing properties for new occupants can quickly add up. Accordingto a report from Zego, the average cost of turning over a rental unit was $3,872 in 2023. Offer a range of flexible lease options to cater to diverse resident needs.

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Property managers’ revenue may be growing more than they think [The Lookout]

Buildium

But when we look at the rate of growth that companies expect, we can see that they anticipate a slower pace of revenue growth over the next two years than they did back in 2023. On one hand, companies are anticipating less revenue growth over the next two years than they projected in 2022 and 2023.

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Managing expense growth: The major costs facing multifamily property owners

MRI Software

Key factors contributing to expense growth in multifamily properties The rising costs of labor, utilities, and materials are driving up multifamily expenses across the board. over a 12-month period through midyear 2023. Use software to categorize expenses, identify cost trends, and flag anomalies. each month.

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Investor’s guide to multifamily real estate syndication

MRI Software

In fact, according to a 2023 study by CBRE , multifamily properties have shown a strong recovery post-pandemic, with investment volumes increasing by 50% year-over-year. This makes multifamily real estate syndication an attractive option for investors looking to tap into the lucrative world of large-scale property investments.

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Property Management Outsourcing Services: Benefits and Cost

Second Nature

Outsourced property management refers to the practice of paying for a third-party company or product to handle certain tasks or operations for your property management company. Property management is, in itself, an outsourced service for real estate investors/property owners. Maintenance and repair.

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7 Must-Know Trends in Single-Family Rentals for 2024

Propertyware

2023 was another rocky year for the housing market. Those trends, however, didn’t necessarily spell bad news for single-family rentals, and as we leave 2023 behind, single-families are well-positioned to remain strong in 2024. This tech-driven approach will improve tenant experiences and make property management more efficient.