MRI Software

SEPTEMBER 10, 2024

Navigating the complexities of commercial real estate leases is essential for both property managers and tenants. In this article from MRI Software, we’ll explore the different types of commercial leases, providing valuable insights to help you navigate lease agreements with confidence. What defines a commercial lease?

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MRI Software

DECEMBER 2, 2024

If you’re managing or investing in multifamily properties, you’ve likely come across the term “loss to lease multifamily.” Loss to lease is the difference between the current market rent and the rent youre actually collecting from your tenants. What is loss to lease in multifamily real estate?

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MRI Software

SEPTEMBER 3, 2024

Lease renewal fees are a critical factor in multifamily property management, affecting both landlords and tenants. Did you know that renewing a lease with an existing tenant can save up to $1,000 in turnover costs? Understanding lease renewal fees is essential for maximizing your rental income and ensuring tenant satisfaction.

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MRI Software

AUGUST 3, 2024

This guide offers best practices for managing lease renewals and strategies for dealing with tenants who decide not to renew. How to ask a tenant if they will renew lease As a tenant’s lease period comes to an end, it’s your responsibility to start the renewal conversation.

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MRI Software

NOVEMBER 26, 2024

Corporate leases are becoming an increasingly popular option for landlords seeking stable and reliable tenants. For landlords and property managers, understanding corporate leases can help optimize rental strategies and reduce vacancy rates. What is a corporate lease?

Residential Property 52

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MRI Software

SEPTEMBER 6, 2024

With so many rental agreements in play, understanding lease transitions is more important than ever. Whether you’re dealing with an old lease vs new lease, knowing how to navigate these transitions can save you time and avoid potential legal issues. What is the difference between old and new lease?

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American Apartment Owners Association

NOVEMBER 11, 2024

Revelas platform uses AI to analyze everything from maintenance histories to leasing data, helping landlords and property managers optimize their portfolios. Schedule your demo now to get started. Turn Data into Actionable Insights AIs capabilities go beyond just automationit is also about using data to make better decisions.

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Fourandhalf

AUGUST 22, 2024

These might include individual lease agreements, tailored maintenance schedules, and personalized tenant communication. Look for features that allow you to easily track tenant information, lease agreements, rent payments, and communication history. Maintenance requests can be easily tracked and managed.

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MRI Software

APRIL 4, 2024

Lease tracking Lease tracking directly affects your real estate portfolio’s performance and profitability. Generating stable income requires efficiently managing lease agreements and maintaining high occupancy rates. Get a demo The post What is real estate portfolio management and why is it important?

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MRI Software

DECEMBER 6, 2023

It’s crucial to explore effective renewal incentives that can encourage your existing tenants to stay and renew their leases. These gestures make tenants feel valued, making lease renewals more likely. This can help tenants save on energy expenses, making lease renewals more appealing.

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MRI Software

DECEMBER 4, 2024

You can instantly track rent payments, maintenance issues, and lease renewals. These tools help you track rent payments, monitor lease renewals, and generate detailed reports on your propertys overall performance. Real-time data access Real-time data access ensures that you always have the latest information on your properties.

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MRI Software

DECEMBER 12, 2024

Whether its missed rent payments or a lease violation, understanding why tenants default and how to address these issues is key to protecting your rental business. Tenant default happens when a tenant fails to meet the terms of their lease agreement. What is tenant default? Send monthly rent reminders or payment confirmations.

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MRI Software

APRIL 23, 2024

Information comes from leases, work orders, energy usage alarms, sensors, and more. Even if your lease management , facilities and finance teams are doing a great job, money can still be wasted if their data isn’t being shared with each other. That’s an uncomfortable question because the answer is also likely yes.

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MRI Software

SEPTEMBER 8, 2024

Differences include shorter lease terms aligned with academic calendars, pre-furnished units, and an emphasis on communal living. Such software allows landlords to handle the complexities of student housing, from managing shorter lease terms aligned with academic calendars to ensuring seamless communication with residents.

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MRI Software

MARCH 6, 2024

It reflects how successful the landlords and property managers are at encouraging tenants to renew their leases rather than moving elsewhere. It involves a simple percentage calculation where you divide the number of tenants who have renewed their leases by the total number of tenants whose leases were set to expire within a given timeframe.

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MRI Software

NOVEMBER 4, 2024

Let’s take a look at these components in detail: Rent payments: This is the primary cost you’ll face, though it can also include extra fees, such as common area maintenance (CAM), depending on the lease agreement. By using data to highlight areas where you’re paying more than necessary, you can negotiate more favorable lease conditions.

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MRI Software

SEPTEMBER 12, 2024

Differences between a pet fee and a pet deposit An apartment pet fee is a one-time, non-refundable charge collected at the start of a lease. A pet deposit is a refundable amount collected at the beginning of the lease. Happy tenants are more likely to renew leases, which reduces turnover and associated costs.

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MRI Software

DECEMBER 3, 2024

Theyre responsible for everything from filling vacancies and managing leases to resolving tenant issues. A property manager also handles lease renewals to ensure a smooth transition at the end of each tenancy. The types of leases and tenant expectations are also different. What does a residential property manager do?

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MRI Software

DECEMBER 1, 2024

A positive tenant experience also plays a significant role in encouraging lease renewals, which helps maintain a steady income. Tenants who feel valued and cared for are more likely to renew their leases, reducing turnover and helping keep your revenue stable.

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MRI Software

SEPTEMBER 29, 2024

Offering short-term leases or furnished units can also boost rental income, as these options often command higher rents. Real estate management software can help manage leases, maintenance requests, and tenant communications efficiently. They cater to tenants needing flexible housing solutions.

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MRI Software

OCTOBER 17, 2023

Commercial property managers know that effective commercial tenant retention and engagement doesn’t end when the lease is signed. Get a software demo Commercial Real Estate Software Increase efficiency, reduce costs, and maximize portfolio performance. This can boost tenant satisfaction and encourage them to renew their lease.

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MRI Software

DECEMBER 15, 2024

With tools like AI leasing assistants and digital rent portals, property managers can focus on strategic tasks while tenants enjoy smoother services. For example, digital lease signing means tenants dont need to visit your office, and AI tools can screen applicants in minutes instead of days.

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MRI Software

DECEMBER 2, 2024

Below, well break down the critical components of a residential leasing and property management agreement. Essential components of the agreement A well-structured residential leasing and property management agreement ensures that both the owner and manager fully understand their roles and responsibilities.

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MRI Software

DECEMBER 5, 2023

These features can either contribute to a positive or negative living experience, impacting their decision to stay in your property during lease renewal. Flexibility in lease terms Flexibility in lease terms shows tenants that you value their comfort and satisfaction, which are key factors in retaining residents.

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MRI Software

DECEMBER 17, 2024

From simplifying lease renewals to ensuring robust tenant satisfaction, this software is packed with benefits. It automates repetitive processes like rent collection and lease renewals, saving time and reducing errors. Tenant and lease tracking Tracking tenants and leases is a fundamental aspect of property management.

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MRI Software

OCTOBER 23, 2023

Get a software demo Multifamily software used by the top ten NMHC managers Take full control of the lead-to-lease process Get a demo Utilizing multifamily property management software with multifamily AI can significantly enhance the safety and security of your properties.

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MRI Software

DECEMBER 11, 2024

Heres some detail on the biggest benefits: Faster Construction: Modular projects can often be completed in half the time of traditional builds, helping property managers get units leased sooner. Consistent Quality: Factory settings ensure precision, reducing mistakes and rework compared to building on-site. appeared first on MRI Software.

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MRI Software

OCTOBER 13, 2023

When applying for an apartment lease, applicants may provide a Credit Privacy Number (CPN). Get a software demo Multifamily software used by the top ten NMHC managers Take full control of the lead-to-lease process Get a demo What is a CPN? Instead of providing your SSN, you will provide your CPN.

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MRI Software

DECEMBER 12, 2024

By enhancing organization and tenant satisfaction through lease renewal automation and payment tracking, our software helps landlords reduce missed payments and maintain steady cash flow.

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MRI Software

NOVEMBER 28, 2023

CAM charges are usually included in the lease agreements between landlords and tenants, with costs being allocated based on the tenants’ proportional usage of the shared spaces. CAM charges are often clearly defined in lease agreements, outlining the exact services and the calculation method for each tenant’s share.

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MRI Software

AUGUST 2, 2024

Green leases are quickly becoming the industry standard, reflecting a growing commitment to sustainability. These leases include clauses that promote energy efficiency and environmentally friendly practices, such as recycling. By introducing a recycling program, you can bring the benefits of green leases to your multifamily property.

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MRI Software

AUGUST 3, 2024

A 100% occupancy rate means all units are leased, while 0% means none are. Tracking this KPI helps evaluate leasing strategies and tenant demand trends, informing pricing and marketing decisions and aiding in maximizing rental occupancy rates. It reflects the percentage of tenants who renew their leases versus those who move out.

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MRI Software

SEPTEMBER 11, 2024

These tools can streamline everything from rent collection to lease renewals, making your life easier and your tenants happier. Happy tenants are more likely to renew their leases and recommend your property to others. Embrace technology: Incorporate multifamily management tools , like those from MRI Software, into your operations.

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MRI Software

OCTOBER 12, 2023

Reducing energy usage across properties will require the use of “green clauses” in leases, and these clauses can be abstracted from contracts easily with an AI-powered lease abstraction tool. Get a software demo Property Management Software Multi-discipline technology for property owners, investors and occupiers.

Residential Property 52

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MRI Software

DECEMBER 4, 2023

Circumstances such as non-payment of rent, lease violations, and property damage can make tenant eviction necessary. Understand your lease agreement To navigate the multifamily tenant eviction process successfully, you will need to fully understand the lease agreement signed between you and your tenant.

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MRI Software

DECEMBER 8, 2024

Lease renewals? Tenant retention Happy tenants are more likely to renew their leases, and a PMS helps you deliver the service they expect. PMS solutions also allow property managers to send automated reminders and notifications, ensuring that tenants stay up to date on rent payments and lease renewals. Rent reminders?

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MRI Software

OCTOBER 23, 2023

To check this, you can request a free demo of the software. FAQs about successful workplace software implementation Get a demo Workplace Software solutions and services for workplace management, lease administration and lease accounting. User experience is also an important consideration.

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