Remove Consulting Remove Contractors Remove Rental Income
article thumbnail

Top 5 Mistakes New Landlords Make and How to Avoid Them

Real Property Management Evertrust

Pro Tip: Build a relationship with reliable contractors early on, so you’re not scrambling to find someone when repairs are needed. Consult a real estate attorney if you’re unsure of the legal requirements in your area. Preventative maintenance can also save you money in the long run.

Landlord 130
article thumbnail

The Top 10 Mistakes Colorado Springs Property Owners Make (And How to Avoid Them)

Muldoon Associates

Ignoring Maintenance Issues There are so many mistakes that can be made with maintenance, from ignoring preventative services to hiring the wrong vendors and contractors. The worst mistake you can make as a rental property owner, however, is delaying or ignoring maintenance needs. Consulting Experts.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Timing Your Capital Expenditures: When to Plan for Big Expenses

RL Property Management

Grouping projects allows landlords to negotiate better rates with contractors by bundling multiple jobs. Completing all necessary upgrades in one project window reduces downtime, keeping tenants satisfied and rental income stable.

article thumbnail

What is a corporate lease for residential properties? Insights for landlords and property managers

MRI Software

For landlords, corporate leases mean fewer vacancies and a reliable source of rental income, making them an attractive option for filling multiple units at once. In a corporate lease, the business is the primary tenant, and it is responsible for paying the rent, while employees or contractors occupy the units.

article thumbnail

What are multifamily ADUs?

MRI Software

If youre managing a multifamily property, youve likely wondered how to make better use of unused areas or increase rental income. By adding two detached ADUs, you could not only boost rental income but also diversify your tenant base. How can multifamily ADUs increase rental income and property value?

article thumbnail

How to Scale Your Airbnb Business

Thanks For Visiting

Your responsiveness extends to all stakeholders: contractors, cleaning staff, maintenance teams, and external property managers. Treat short-term rentals as a serious business, not just a side gig. Consult representatives for revenue management and Airbnb-specific questions.

Airbnb 64
article thumbnail

What Is Property Management Accounting?

California Pacific Realty

It involves a wide array of financial tasks, from income tracking to expense reporting, ensuring both operational efficiency and financial stability. Rental Income Management Accurate tracking and recording of rental property income from tenants is important. Handling Contractor and Mortgage Payments.