MRI Software

AUGUST 3, 2024

In the competitive landscape of property management, tracking the right Key Performance Indicators (KPIs) is crucial for optimizing operational efficiency and enhancing tenant satisfaction. Occupancy Rate Indicates the percentage of rental units occupied by tenants. Operational KPIs for Property Management 1.

Property Management 52

Property Management Property Manager Management Property 52

MRI Software

SEPTEMBER 10, 2024

Multifamily operating expenses per unit One way to keep track of your expenses is by looking at the cost per unit. This helps you see exactly where your money is going for each rental unit and figure out if there’s room to cut costs. Energy-efficient properties attract eco-conscious tenants, which is a growing market.

Insurance 52

Insurance Utilities Maintenance Property Management 52

MRI Software

FEBRUARY 25, 2025

Multifamily properties account for over 40% of rental units in the United States, making them a significant part of the real estate market. Landlords must focus on factors such as tenant retention, cost control, and market positioning. These metrics help landlords identify trends and make data-driven decisions.

Landlord 52

Landlord Management Property Management Software Property Management 52

MRI Software

FEBRUARY 2, 2025

In contrast, condo ownership is limited to a single unit, with the HOA managing the shared areas. Multifamily properties require more hands-on involvement, including tasks like tenant screening, lease management, and repairs. With a condo, these responsibilities are limited to managing your unit, while the HOA oversees the rest.

Finance 52

Finance Commercial Property Single-Family Home Maintenance 52

MRI Software

MARCH 22, 2024

This spring home maintenance checklist will guide you through essential interior and exterior maintenance tasks to keep your properties safe, efficient, and appealing to current and prospective tenants. Interior maintenance checklist Interior maintenance is crucial for keeping current tenants happy and attracting new ones.

Maintenance 52

Maintenance Tenant Property Management Software Property Management 52

MRI Software

DECEMBER 13, 2024

Adding ADUs to a multifamily property can unlock significant value and rental potential that single-family properties simply cannot match. With the ability to construct multiple units, multifamily properties can accommodate diverse tenant needs while maximizing underutilized spaces. Property value also sees a boost.

Single-Family Home 52

Single-Family Home Rental Income Finance Regulation 52

MRI Software

MAY 22, 2024

This is what is typically covered in a landlord insurance policy: Property damage coverage: This coverage protects the physical structure of your rental property and any of your belongings used by tenants, like appliances. Another limitation is the lack of coverage for personal property within the rental unit.

Insurance 52

Insurance Landlord Rental Income Rental Property 52

MRI Software

DECEMBER 7, 2024

For instance, many renters are willing to pay a premium for in-unit laundry, modern kitchens, and updated bathrooms. If your property doesnt have these features, consider adding them to attract higher-paying tenants. After installing new appliances and adding security cameras, you increase rents by $150 per unit.

Real Estate 52

Real Estate Finance Tenant Contractors 52

MRI Software

JANUARY 2, 2024

Picture this scenario: one of your tenants is cooking dinner when suddenly the pot on the stove bursts into flames. They allow tenants to respond to fire emergencies swiftly and effectively. But are fire extinguishers required in rental properties? This proactive approach reduces the risk of fire-related incidents and damages.

Rental Property 52

Rental Property Property Insurance Compliance 52

MRI Software

FEBRUARY 3, 2024

Imagine you receive the dreaded phone call that a fire has erupted in one of your rental units. Landlord insurance offers a safety net for your rental properties, protecting you against the costs of unforeseen circumstances. This insurance covers the personal property and liability of the tenants themselves.

Insurance 52

Insurance Landlord Broker Rental Income 52

MRI Software

DECEMBER 1, 2024

Unlike single-family foreclosures, multifamily homes have multiple rental units. For landlords, its an appealing option because it allows the management of multiple rental units within a single investment. With multiple units and tenants, these properties often require more upkeep and hands-on management.

Finance 40

Finance Real Estate Rental Income Rental Unit 40

MRI Software

MARCH 20, 2025

Multifamily apartment investing involves owning residential properties designed to house multiple tenants within a single building or complex. Unlike single-family properties, multifamily investments generate income from multiple households, reducing reliance on a single tenant.

Apartment 52

Apartment Single-Family Home Finance Landlord 52

MRI Software

MARCH 5, 2025

Airbnb investing offers the potential for high returns through short-term rentals, while multifamily investing provides steady income with long-term tenants. Multifamily investment, on the other hand, involves purchasing buildings with multiple rental units leased to long-term tenants.

Airbnb 40

Airbnb Rental Income Airbnb Property Finance 40

Propertyware

DECEMBER 29, 2023

This preference for digital processes cuts across generations: Property managers and landlords will rely increasingly on property management software , smart home devices, and automation to streamline operations, enhance security, and deliver better services to their tenants. Having a great screening process is invaluable.

Single-Family Home 52

Single-Family Home Property Management Property Manager License 52

MRI Software

APRIL 1, 2025

Condos tend to sell at a higher price per square foot compared to rental units, especially in competitive markets. With the right multifamily management software , you can efficiently track your units, streamline upgrades, and attract more buyers. This shift can lead to significant cost savings over time.

IT 52

IT Property Single-Family Home Condominium 52