MRI Software

DECEMBER 16, 2024

Owning rental properties can be rewarding, but without the right insurance, a single incident could cost you thousands of dollars. If youre renting out a residential property, protecting your investment isnt just smartits essential. After all, your rental property isnt just a buildingits a business.

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Fourandhalf

AUGUST 22, 2024

Specific Needs for Single-Family Property Management Single-family property management often comes with unique requirements compared to multi-family or commercial properties. These might include individual lease agreements, tailored maintenance schedules, and personalized tenant communication.

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MRI Software

DECEMBER 12, 2024

This guide will walk you through everything you need to know about tenant default insurance. From how it works and why its crucial, to tips on choosing the best policy, youll gain the insights needed to protect your rental income and stay ahead of unexpected tenant defaults. What is tenant default insurance?

Rental Income 52

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MRI Software

OCTOBER 24, 2023

In residential property management, following up on leads and maximizing occupancy are crucial to the success of your multifamily community. It’s about securing reliable tenants, providing consistent value, and fostering an environment where tenants want to stay long-term. What is a rental occupancy rate?

Rental Property 52

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MRI Software

MAY 10, 2024

Understanding economic occupancy and physical occupancy is essential for effective residential property management as it allows for in-depth assessment of the financial health of properties and make informed decisions. What is physical occupancy? What is a typical physical occupancy rate? A rate close to 93.8%

Residential Property Management 52

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MRI Software

DECEMBER 10, 2024

This is making many commercial landlords wonder, can you rent out commercial property as residential to address the housing crisis or boost property income? While the answer is often yes, it requires navigating zoning laws, habitability standards, and tenant expectations. Equally important are habitability standards.

Commercial Property 52

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MRI Software

OCTOBER 23, 2023

Artificial intelligence (AI) isn’t a dream of the future anymore – it’s here now, and it’s being used in industries across the globe, including in the residential real estate sector. This technology reduces risk through various functions, including ID verification, insurance management, and tenant screening. What is Multifamily AI?

Property 52

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MRI Software

DECEMBER 11, 2023

Here we explore the factors that influence how to classify a multifamily property and the implications of the classification: Residential property classification Before categorizing a multifamily property, it is important to understand the difference between residential and commercial property.

Commercial Property 52

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MRI Software

DECEMBER 13, 2023

This software also often includes features for online rent payments and communication channels between property managers and tenants. There are numerous benefits of multifamily property management software, leading to its increasing adoption by property managers.

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MRI Software

DECEMBER 8, 2024

In fact, according to a survey by Software Advice , 53% of property managers report that using a PMS has reduced their operating costs, proving that these systems arent just convenienttheyre transformative. PMS solutions are particularly useful for residential properties where there are many tenants to manage.

Property Management 52

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MRI Software

MARCH 25, 2024

For example, in a rental property with 10 units renting at $700 each per month: Gross potential rent (GPR) = 10 units x $700/month = $7,000 per month Calculate actual rent collected: Next, tally up the actual rental income collected for the given period. Tenant satisfaction: High economic occupancy typically correlates with satisfied tenants.

Real Estate 52

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MRI Software

SEPTEMBER 8, 2024

An overview of multifamily housing in detail Multifamily housing encompasses various residential properties designed to accommodate multiple families or individuals. These properties include apartment complexes, duplexes, and townhomes, each catering to different demographics.

Property Management 52

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MRI Software

DECEMBER 12, 2023

Semi-detached homes also tend to be more affordable than completely detached homes, making them a great way to invest in multifamily properties. Townhouse A townhouse, also called a townhome, is a residential property that is connected side-by-side to other townhouses in a long row. What is the future of multifamily properties?

Single-Family Home 52

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MRI Software

DECEMBER 5, 2024

For instance, imagine your property is damaged in a fire, and your tenants are forced to move outthis insurance steps in to ensure you still get paid during the downtime. Some policies will pay for lost rent even if the property was vacant at the time of damage, making it useful for landlords between tenants too.

Rental Income 52

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MRI Software

SEPTEMBER 2, 2024

According to a recent survey , 78% of residents prioritize customer service when choosing where to live​ Ensuring a great experience from the first day can set your properties apart. Strategies and techniques for building a brand identity for multifamily properties Branding is essential for multifamily residential property management.

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MRI Software

JUNE 2, 2024

MRI Software are leaders in innovative real estate software and in this article, we explore how AI is reshaping residential property management software and real estate CRM solutions. AI in real estate is transforming the industry by enhancing efficiency, accuracy, and customer experience.

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