Remove Compliance Remove Maintenance Remove Rent
article thumbnail

What Does ‘Prorated Rent’ Mean? What You Need To Know

Bay Property Management Group

Ideally, when someone rents out a home, they’d move in the following month. Luckily, when that happens, you don’t necessarily have to pay that entire month’s rent. In other words, the tenant could pay a prorated rent, an amount that reflects the number of days you’ve lived in the rental.

Rent 147
article thumbnail

Can a Landlord Break a Rent-to-own Contract?

Bay Property Management Group

One of the benefits of this option is that you can rent while saving to buy the same apartment. Its a unique combination of renting and owning the property. And can a landlord break a rent-to-own contract? This guide will explain everything you need to know about rent-to-own properties. But its not always that simple.

Rent 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Caution to AI: The Possibility of Fair Housing Violations in Communication and Payments

American Apartment Owners Association

The Evolution of Communication in Property Management AI-powered chatbots and automated messaging systems are becoming the norm, helping property teams respond to resident inquiries, process maintenance requests, and even screen rental applications. Others may rely on government-issued checks or prefer cash payments for personal reasons.

article thumbnail

Crisis Management in Property Management: Strategies for Success

Beach Front Property Management

Effective crisis management is essential in property management to handle unexpected challenges like natural disasters, maintenance emergencies, resident disputes, and financial setbacks. Maintenance Failures Plumbing, electrical, and HVAC system breakdowns can lead to costly repairs if not addressed promptly.

article thumbnail

Finding the Perfect Multifamily Property

American Apartment Owners Association

Multifamily refers to properties, such as apartment complexes, condominiums, townhouses, semi-detached units and duplexes, all of which offer multiple spaces for rent. Operating costs can consist of property taxes, real estate agent fees, utilities, maintenance, property management fees, homeowners insurance and legal fees.

Property 200
article thumbnail

Maximize your rental business with small landlord property management software

Buildium

Manual tracking of rent payments, maintenance requests, and tenant communications can be time-consuming and prone to errors. Small landlord property management software includes financial and accounting tracking capabilities , including rent collection, expense management, and reporting.

article thumbnail

Minimizing Investment Risks in Multifamily Real Estate

American Apartment Owners Association

Identify potential risks through in-depth examination, includingmarket analysisfor rental trends and property maintenance assessments. Implementproactive maintenancestrategies and legal compliance measures to control costs and legal liabilities. Manage maintenance costs proactively. Ensure legal compliance to mitigate risks.