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Finding the Perfect Multifamily Property

American Apartment Owners Association

Operating costs can consist of property taxes, real estate agent fees, utilities, maintenance, property management fees, homeowners insurance and legal fees. Youll need to attract and retain quality tenants, establish rent collection processes, conduct regular maintenance and repairs and ensure compliance with local regulations.

Property 200
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How to Keep Your Tenants Safe

American Apartment Owners Association

This implied warranty also covers the maintenance of all common areas, such as the buildings entryway, staircases and laundry rooms. The monitoring and maintenance of the roof, walls, floors, windows and doors is also understood. The applicant should also investigate the neighborhoods crime statistics.

Tenant 246
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11 Steps to Take Before and During Leasing Season to Maximize Profit and Efficiency

Appfolio

Whether you have on-site maintenance teams or work with third-party vendors, review procedures to ensure tools, supplies, and adequate staff members are available to respond to every situation. Invest in a property-wide deep cleaning, and address any maintenance issues that have been put off. Check Up On Your Application Process.

Lease 264
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Can a Landlord Let Themselves In? Unlocking the Legalities

American Apartment Owners Association

Maintenance and repairs Landlords are responsible for maintaining the rental property in good condition, ensuring that necessary repairs are made promptly. The functionality of security systems, if applicable. Here are some common valid reasons for landlord entry: Performing necessary repairs or maintenance on the property.

Landlord 246
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Understanding HOA finances: A practical guide for association managers

Buildium

The funds cover everyday maintenance as well as future projects and improvements, ensuring the community stays well-maintained and prepared for any upcoming needs. You’ll also need to budget for attorney fees. Review how many hours your association’s attorney typically bills each month so you can plan for those expenses accordingly.

Finance 245
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Seattle Landlord Sues The City Over Tenant Rules

American Apartment Owners Association

The city council has been active the past few years in passing tenant protections such as caps on move-in fees, first qualified applicant rules, eviction rules, lease renewals and tenant screening rules. The suit claims this is a “taking” of the landlord’s property.

Landlord 130
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Top 5 Mistakes New Landlords Make and How to Avoid Them

Real Property Management Evertrust

Pro Tip: Create a rental application form that collects all necessary information in one go. This will help you compare applicants side by side and choose the best fit for your property. The Fix: Budget for ongoing and unexpected maintenance. Preventative maintenance can also save you money in the long run.

Landlord 130