September, 2024

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The Effect Of A HOA Reserve Deficit On Homeowners

HOA Managememt

An HOA reserve deficit harms both the association and the homeowners who comprise it. Unfortunately, far too many HOAs have underfunded reserves or, worse yet, no reserves at all. While it may not seem like it initially, the ramifications of a reserve deficit can have a long-lasting negative impact. What is a Reserve Deficit? Homeowners associations are responsible for budgeting, accounting, and financial management.

Finance 246
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What Does A Landlord Look For In A Credit Check?

Rental Choice

Credit checks are handy screening tools that provide landlords with more insight into the tenant’s financial history and responsibility. What does a landlord look for in a credit check? Should tenants have a certain credit score or history to find a place? Let’s find out. Why are Credit Checks Important? Credit checks are an important part of the tenant screening process.

Landlord 246
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Multifamily Market Update: Stability Has Settled, but It’s Temporary. Here’s How to Stay Ahead

Appfolio

In our latest multifamily market update, unpack the current Goldilocks scenario that’s keeping the market balanced, and peer into the future to see how this could change.

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Tenant Retention 101: Essential Tips for Property Managers

BetterWho

Retaining good tenants goes beyond convenience—it impacts your bottom line. High turnover can drain your finances and disrupt your property management workflow. The cost of turnover adds up. You’re not only looking at lost rent for every month your property is empty. The cost of finding a new tenant, additional maintenance, marketing the property, etc., means that keeping your tenants happy is very important.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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How to Negotiate Prices with Renters

American Apartment Owners Association

Negotiating rent prices can be tough for a landlord. On one hand, you want to satisfy your renters and keep their business. But on the other hand, you dont want to lose profit and decrease your rental income. Whether negotiating with tenured residents or prospective renters, you should always be open to discussing rent prices. Though these conversations can be a bit daunting, theyre necessary if youre going to find a way to satisfy both your and your renters needs.

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Can Blogging Be a Property Manager’s Secret Weapon for Local SEO?

Fourandhalf

How do you generate new owner leads? Is it through referrals? Local newspapers? Online ads? Did you know that blogging, with special attention to local SEO, can also be a powerful tool for property managers looking to attract new clients? By now, you’ve probably heard that blogging can be a great way to attract more owner leads. But if you’re writing great blog posts, and not seeing anything come from it, you may need to start paying more attention to your local SEO.

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Simplify Your Life with The Assistance of a Property Management Virtual Assistant

Answer Tenant

You will understand well that being a landlord, it is not easy to deal with several houses at the same time. Some of the responsibilities include managing tenants and maintenance. Rental collections and record keeping, Among them you can name it a never ending list. Bear in mind a method to erase most of the […] The post Simplify Your Life with The Assistance of a Property Management Virtual Assistant appeared first on Answer Tenant LLC.

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Essential Home Maintenance Tips for Renters: Small Tasks to Keep Up With

Real Property Management Evertrust

Maintaining your rental residence may seem minor, but regular maintenance can save you from costly repairs and foster a positive relationship with your landlord. In this blog post, we will explore ten essential small maintenance tasks every renter should tackle to keep their home in good condition. By staying on top of these simple tasks, you’ll protect your living space and demonstrate your responsibility as a tenant.

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How Property Managers Save $100,000 a Year By Hiring RTMs at $6/hour

BetterWho

Have you ever imagined transforming your workweek from exhausting 60-hour grinds to just a handful of productive hours? This isn’t just a dream; it’s a reality for those who’ve embraced the power of Remote Team Members (RTMs). Your payroll is your biggest expense. By lowering it, you’re skyrocketing your profits. NARPM’s research shows that top property management companies have RTMs as 65% of their workforce.

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Top 5 Weather Proofing Hacks for Winter

American Apartment Owners Association

As winter approaches, ensuring your rental properties are prepared for the cold months ahead is essential for both tenant comfort and property preservation. Proper weatherproofing can prevent costly repairs and maintain tenant satisfaction. Here are the top five steps you can take to winterize your rental properties effectively. Insulate and Seal Why It Matters: Proper insulation and sealing prevent heat loss, making your properties more energy-efficient and comfortable for tenants.

Tenant 138
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What Property Managers Should Be Posting on Facebook

Fourandhalf

 Among the various social media platforms available, Facebook stands out as a powerful space where property management companies can build their brand, showcase their expertise, and engage with their audience on a more personal level. But with so many potential types of content to share, how can you ensure that what you post truly resonates with your followers and enhances your company’s reputation?

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Should I Require Renters Insurance? A Guide for Landlords

Osprey Property Management

Requiring renters insurance can be a game-changer for both landlords and tenants, providing peace of mind and reducing potential liabilities. According to Money Geek , the average cost of renters insurance in Virginia is $127 per year. (about $11 per month), renters insurance is an affordable way for tenants to protect their belongings—and for property owners to protect themselves.

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A Property Management Virtual Assistant Manages Tasks from Tenant Screening to Rent Collection.

Answer Tenant

Do not like the idea of constantly dealing with some properties? Would you like to have more time to work on expanding an assortment and increasing your income? Thus, it is clear that the need for a Property Management Virtual Assistant is the solution for your needs. In this blog post. In the course of […] The post A Property Management Virtual Assistant Manages Tasks from Tenant Screening to Rent Collection. appeared first on Answer Tenant LLC.

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Choosing The Right Manager For Your Airbnb Property

AirKeeper

Managing a short-term rental property can be an exciting way to boost rental income, but it comes with its share of challenges. For many property owners, balancing all the work involved, including guest communication, property maintenance, marketing, and pricing strategies is overwhelming. This is where professional management services can help, offering their expertise to reduce your workload and maximise rental revenue.

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The NAR Lawsuit: How Property Managers Can Deal With Its Fallout

BetterWho

As a property management company owner, the recent NAR lawsuit might have you questioning your next moves. This isn’t just another headline; it’s a game changer for how we manage properties and comply with new regulations. In this article, we’ll break down exactly what this means for your business and offer some clear, actionable strategies to handle these changes.

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Defining Squatters’ Rights vs Tenants’ Rights: Key Differences and Legal Protections

American Apartment Owners Association

Ever wondered about the difference between squatters and tenants? The complex world of property rights can make you question the legal status of these two occupants. These are two individuals who reside on a property, but their legal standings differ hugely. Therefore, the article will shed some light on what rights each group has, how they’re protected by the law, and what happens when everything goes wrong.

Tenant 130
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Benefits of Having an ROI Calculator on Your Property Management Website

Fourandhalf

ROI calculators are the trendy new thing in property management websites. You might have come across a competitor’s website featuring a sleek new calculator and found yourself wondering if you should invest in one as well. At Fourandhalf, we specialize in digital marketing tailored specifically for property management companies, including the development and integration of ROI calculators.

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Is your Society Management App Distraction Free?

ADDA

Only Zero ads/Zero spam Community & Visitor Apps (like ADDA.io), can be effective in ensuring residents’ security and providing convenience in Community Living. Let’s understand why: Every App has a purpose. The purpose of a Society App is to make sure: Residents receive timely community updates, They can easily reach out to neighbors and the community management team, when in need.

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How Property Management Virtual Assistant Can Transform Your Business

Answer Tenant

Property management virtual assistant profession is one of the most challenging careers out there mainly because of the high levels of multitasking, excellent communication and detailed orientation. You are well aware as property manager that it is as important to manage a variety of activities in the best possible way. Communicating with tenants, performing maintenance tasks, […] The post How Property Management Virtual Assistant Can Transform Your Business appeared first on Answer Tenant

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Choosing The Right Manager For Your Airbnb Property

AirKeeper

Managing a short-term rental property can be an exciting way to boost rental income, but it comes with its share of challenges. For many property owners, balancing all the work involved, including guest communication, property maintenance, marketing, and pricing strategies is overwhelming. This is where professional management services can help, offering their expertise to reduce your workload and maximise rental revenue.

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How to Resolve a Dispute Between Tenants Peacefully

Genuine Property Management

Sometimes, even the best-laid plans often go awry. If you are a landlord who has taken every precaution when finding tenants for your building, it can be disheartening when things go wrong. You might have done the most thorough background checks and interviewed every tenant before renting to them, but even these processes cannot prevent […] The post How to Resolve a Dispute Between Tenants Peacefully appeared first on Welcome to Genuine Property Management.

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Mastering Property Management Accounting: A Simplified Guide to Boost Profitability

BetterWho

Property management accounting can be overwhelming. But, when done right, it becomes a powerful tool to boost your profitability and streamline operations. Whether you’re a seasoned property manager or just getting started, mastering accounting will help you make informed decisions, avoid costly mistakes, and ultimately, grow your business. In this guide, we’ll break down essential accounting practices in property management.

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Top 3 Practices to Fortify Your Property Management Business for the Future

American Apartment Owners Association

Today’s property managers and landlords must go beyond traditional practices to succeed. With changing economic and industry demands, adopting forward-thinking strategies is essential for long-term success. Henry Ford once said, “If you always do what you’ve always done, you’ll always get what you’ve always got. At Revela, we help property managers transform their operations to do business and generate revenue in new ways.

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Important Lease Clauses For Landlords

Beach Front Property Management

When preparing a property for rent, you handle key tasks like painting, cleaning carpets, making minor repairs, and ensuring that plumbing, electrical, and HVAC systems are safe. While you prioritize your residents’ safety, protecting your investment, cash flow, and relationships with neighbors is equally important. Managing a rental property can be rewarding, but dealing with residents’ questions and details can be overwhelming.

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What A Property Management Virtual Assistant Can Do for You

Answer Tenant

Are you tired of getting bogged down by the mundane tasks of property management? Are you ready to focus on strategic planning and growing your business instead? A virtual assistant can handle maintenance scheduling and tenant communications. Management virtual assistant It can free up your time for more important endeavors. Post will explore how can […] The post What A Property Management Virtual Assistant Can Do for You appeared first on Answer Tenant LLC.

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Tips for Decluttering Your Rental Property

Real Property Management Chicago

When clutter starts to pile up, tackling it can be quite stressful. But if your rental home begins to overflow with clutter, you need to cope with the issue as soon as possible. As time goes by, more clutter will accumulate, rendering the procedure of decluttering harder still! Rather than trying to declutter your entire house or apartment in one go, think about dividing up the task into smaller parts.

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Handling Tenant Complaints: Best Practices for Quick and Effective Resolutions

Real Property Management Evertrust

As a new landlord, one of the inevitable parts of managing rental properties is handling tenant complaints. While this can seem daunting, addressing issues quickly and effectively is key to maintaining happy tenants, preserving the condition of your property, and reducing turnover. Unfortunately, many new landlords make common mistakes when faced with tenant complaints, leading to strained relationships, unresolved problems, or even legal issues.

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Are Rental Properties a Good Investment?

Genuine Property Management

In the world of investing, owning rental properties can be a lucrative venture. However, like any other investment, the prospect of rental property ownership does carry risks, and so should be carefully considered. We’ll review the benefits and potential downsides, along with key decisions to make before investing. The Upsides to Investing in Rental Properties […] The post Are Rental Properties a Good Investment?

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Recommendations from Fuse Service on Top Questions to Ask Your Electrician Before an Electrical Panel Upgrade

American Apartment Owners Association

Electrical panel upgrades may be the biggest home improvement project and their influence on the safety and functionality of your home are unquestionable. Before you start with it, is your preparedness set with the right questions to ask your electrician? As far as electrical panel replacement options are concerned, be it for an old system or electrical panel installation for a new building, knowing what questions to ask can save you time, money and anxiety.

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7 Benefits of Offering Online Rent Payment Options

Beach Front Property Management

Timely rent payments and an efficient collection system are essential to a successful rental property. So, how can property owners ensure on-time payments? No one wants the stress of tracking down residents or dealing with payments lost in the mail. With advancements in rental technology, offering online rent collection has become easier than ever. Modern residents now expect the convenience of online payments.

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Revolutionizing Real Estate and Property Management Accounting with Technology

Answer Tenant

Are you tired of the traditional, time-consuming methods of real estate and property management accounting? Do you wish there was a way to streamline your processes and make them more efficient? Look no further than technology! In this blog post, we will explore how technology is revolutionizing the way we approach real estate and property […] The post Revolutionizing Real Estate and Property Management Accounting with Technology appeared first on Answer Tenant LLC.

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Leveraging AI for Maximum Impact in Property Management: Important Tools & Strategy

BetterWho

Are you a property manager looking to stay ahead of the curve? Embracing AI can seriously upgrade your business, making operations smoother and more efficient. It’s worthless knowing what AI is capable of if you’re not applying it to your business. We need to do more with less as business owners, and AI is the key. In this guide, we’ll explore essential AI tools and strategies to help you achieve your goals.

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Guide to Rental Bookkeeping

ADDA

Managing rental properties comes with a variety of financial responsibilities, and proper rental bookkeeping is essential to keeping everything organized. Whether you own one property or several, keeping accurate financial records can help you manage your business more efficiently, track expenses, and comply with UAE tax regulations. In this guide, we’ll explore the basics of rental bookkeeping and offer tips to help you stay organized and on top of your rental property finances in the UAE

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Do Property Managers Pay for Repairs?

Genuine Property Management

When you rent a home, it’s common to wonder who handles repairs and maintenance. The answer usually depends on the terms of your lease agreement and the type of repair in question. While every situation is different, property managers often play a key role in managing repairs. Below, we’ll cover the typical circumstances where property […] The post Do Property Managers Pay for Repairs?

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Can the Past Predict the Future?

American Apartment Owners Association

Can a tenants past behavior predict how they will act in the future? If they did not pay their rent on time at the last place they lived, does that mean they will not pay their rent for their next home? Will they continue to damage the property in which they live as they did in their last place? Theres only one way to find out the answer to these very important questions: the AAOA Landlord Verification.

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How To Build Resilient Teams Through Radical Transparency

Beach Front Property Management

The post How To Build Resilient Teams Through Radical Transparency appeared first on Beach Front Property Management Inc.