MRI Software

DECEMBER 13, 2023

Here are the trends you can expect to see in 2024 for multifamily housing: 1) Increasing use of PropTech One of the most significant trends in multifamily housing is the increasing adoption of Property Technology (PropTech), specifically multifamily property management software.

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MRI Software

DECEMBER 8, 2023

We highlight their characteristics, preferences, and how you can attract and retain these tenants with multifamily property management software. The 5 types of multifamily renters Understanding the diverse needs and preferences of multifamily tenants is crucial for property managers.

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MRI Software

FEBRUARY 24, 2024

This approach can lead to higher satisfaction levels among your tenants, making them more likely to renew their leases. Prospective tenants are more likely to choose a property that offers additional perks and conveniences. This increased appeal can lead to faster leasing cycles and higher occupancy rates.

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MRI Software

SEPTEMBER 5, 2024

Tenants are more likely to choose and stay in properties that offer a comfortable and convenient living environment. Lease terms Flexible lease terms can also influence occupancy rates. Offering options such as short-term leases, month-to-month arrangements, or lease renewal incentives can attract a wider range of tenants.

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Tokeet

AUGUST 12, 2024

Courses typically cover real estate principles, property laws, and ethics. National Apartment Leasing Professional (NALP) : Provided by the National Apartment Association (NAA). Focuses on leasing practices, marketing, and customer service. Passing the state exam is necessary to obtain the license.

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MRI Software

DECEMBER 12, 2024

Tenant default is a challenge many landlords and property managers face, often causing financial stress and operational disruptions. 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. What is tenant default?

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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. In this blog post, we will explore a range of multifamily renewal incentives that multifamily property managers can offer tenants. Upgrades aren’t limited to the interiors of your multifamily units.

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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. Automation bridges the gap between traditional property management and modern tenant expectations. This integration eliminates the need for juggling multiple systems.

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MRI Software

AUGUST 4, 2024

It includes building a sense of community for tenants, maintaining the property, and addressing tenant concerns. This involves engaging with tenants, organizing community events, and maintaining open lines of communication. This helps enhance tenant satisfaction and retention, ensuring the profitability of your property.

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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. For families, having a playground and organizing family-oriented events can significantly enhance their living experience.

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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

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

DECEMBER 16, 2024

Landlords residential property insurance protects not just the building but also your financial stability, ensuring youre prepared for events that could interrupt your rental income or lead to costly lawsuits. Tenants may unintentionally cause damage, or unforeseen events like fires or storms can leave your property uninhabitable.

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Propertyware

NOVEMBER 21, 2023

Even when a software solution is as customizable as Propertyware , there still may be a few aspects of your business you’re still using other programs to run. But what if you could pull information from those programs into your property management software, or even push information out to spreadsheets or other programs?

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MRI Software

FEBRUARY 16, 2024

By incentivizing your current tenants, you can potentially access high-quality tenants to sign new leases. You will gain the information you need to enhance your tenant acquisition strategy and build a thriving community at your multifamily property. It will offer rewards to tenants for successful referrals that lead to new leases.

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MRI Software

SEPTEMBER 7, 2024

It’s not just about covering the building itself—this insurance also provides liability protection in case someone gets injured on your property. Plus, it can cover loss of rental income if your property becomes uninhabitable due to a covered event. Discover how MRI can simplify your property management process.

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MRI Software

SEPTEMBER 11, 2024

Embrace technology: Incorporate multifamily management tools , like those from MRI Software, into your operations. These tools can streamline everything from rent collection to lease renewals, making your life easier and your tenants happier. Plan for upgrades: Periodic renovations can keep your property competitive.

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InveServe

MAY 16, 2024

Property owners must build strong tenant relationships through effective communication, prompt maintenance, and addressing concerns to decrease tenant turnover. This creates a feeling of community, encouraging tenants to renew their leases. These gestures can motivate tenants to stay longer and foster loyalty.

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MRI Software

SEPTEMBER 18, 2023

From office buildings and retail spaces to industrial complexes and leisure facilities, effective commercial property management is crucial for maximizing value, ensuring tenant satisfaction, and maintaining profitability. That’s why MRI Software develops smart solutions for the property sector.

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Florida Property Management

SEPTEMBER 11, 2023

Remote work has spurred the development of communication tools and platforms that facilitate seamless interaction between property managers, tenants, and property owners. Property owners can receive real-time updates on their investments, including financial statements, occupancy status, and maintenance requests.

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MRI Software

DECEMBER 5, 2024

In fact, a 2020 report by the Joint Center for Housing Studies found that 41% of rental property owners depend on rental income for more than half of their household income. So, what happens when an unexpected event, like a fire or storm, leaves your property temporarily uninhabitable and your rental income at risk?

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MRI Software

SEPTEMBER 2, 2024

In today’s competitive property market, standing out is more crucial than ever. Properties with strong brand identities can see up to 23% higher rental income and 20% faster lease-up rates. This means that multifamily branding not only attracts potential residents but also significantly enhances property value.

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MRI Software

MARCH 12, 2024

From late rent payments to property damage, noise complaints, or even legal disputes, the challenges presented by troublesome tenants can disrupt the harmony of any rental property and create significant headaches for those responsible for its management.

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MRI Software

DECEMBER 14, 2024

What role does automation play in multifamily property management? Automation is a game-changer for property managers, helping streamline repetitive tasks and enhance tenant satisfaction. Multifamily property management software can handle everything from rent collection to lease renewals with minimal effort.

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MRI Software

DECEMBER 11, 2023

7 Ways to protect your multifamily property A safe living environment is a fundamental factor in tenant satisfaction. When tenants feel secure, they are more likely to renew their leases and stay longer, reducing turnover rates and vacancy periods.

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MRI Software

FEBRUARY 20, 2024

Landlords typically cover the physical structure of the rental property and any appliances or fixtures they own against damage from insured events like fires, storms, or other natural disasters. Protects personal property The main reason you need renters insurance is to protect your personal property.

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MRI Software

SEPTEMBER 14, 2024

Plus, find out how real estate property management software can help when dealing with multifamily vacancies. Multifamily vacancy rates measure how many units in a property are unoccupied compared to the total number of units. What are multifamily vacancy rates?

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Esquire Property Management Group

DECEMBER 11, 2023

Typically, landlords mandate tenants to maintain various forms of insurance coverage as a prerequisite or addendum to commercial lease agreements. Landlords and property managers need to familiarize themselves with the ins and outs of insurance policies and coverage details to verify tenants’ compliance with lease agreement terms.

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Propertyware

NOVEMBER 11, 2021

For example, if your properties are located in college towns, rental occupancy will most likely be at its highest beginning in August. This may also be the month with the highest turnover or lease-renewal rates. But, in general, he encourages property managers to look back on their goals, their commitments, and actual outcomes.

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MRI Software

DECEMBER 8, 2024

billion in damages per event in the United States. For multifamily property owners, storm season can be especially challenging, as one extreme weather event can cause widespread damage, disrupt operations, and jeopardize tenant safety. How does storm tracking and communication technology improve safety and preparedness?

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MRI Software

OCTOBER 8, 2024

This can be accomplished through excellent property management, thorough tenant screening, and securing long-term leases with reliable tenants. You should also review zoning laws and future development plans in the area to ensure the property aligns with your investment goals.

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Avantio

JUNE 3, 2024

Unlike traditional rentals with year-long leases, short-term rentals offer flexibility and potentially higher nightly rates. Asia Tokyo, Japan: Hosting events like the Olympics boosts tourism significantly. What factors must you consider when choosing a market for short-term rentals? Book a demo Interested?

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Propertyware

JANUARY 6, 2022

Legal Services “[The pandemic has] highlighted the need for knowledge around current and legislative events in their local markets,” a property manager in Denver told us. With a property management software solution like Propertyware , property managers can even set up customized dashboards for owners.

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MRI Software

MARCH 1, 2024

Inspections should also be conducted following severe weather events, construction activities, or other significant changes that may impact outdoor safety conditions. These providers will also ensure properties comply with local codes and regulations, providing you with peace of mind.

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Second Nature

OCTOBER 18, 2024

McNeill explains how they evaluate this at PURE: “We evaluate pro forma financial statements and arrive at a percent profitability based on adjustments we can make by removing ‘seller benefits’ such as vehicle leases, personal expenses, etc.” Location The location of the company can affect its valuation in different ways.

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SparkRental

NOVEMBER 14, 2024

If you default on your mortgage payment, they file for foreclosure on all secured real estate properties. Lenders usually include a partial release clause with blanket loans to cover the event of the borrower selling one property. Unlike traditional mortgages, you don’t have to repay the entire loan when you sell a property.

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MRI Software

AUGUST 4, 2024

This centralized system ensures that no request is missed and allows you to prioritize and manage tasks more efficiently. By using property management software , you can automatically assign tasks to the appropriate personnel and set deadlines based on the urgency of the request.

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