Remove Insurance Remove Property Maintenance Remove Residential Property Management
article thumbnail

Differences Between Commercial Property Management vs Residential Property Management

Property Management Inc.

Whether you're managing a bustling office building or a cozy duplex, the details matter. But here's the real kicker—not all property management is created equal. These properties generate income, accommodate businesses, and support trade. Residential tenants typically pay a fixed monthly amount.

article thumbnail

Key elements of a successful residential property management agreement

MRI Software

Understanding these elements will help protect your investment and create a strong working relationship with your property manager. What is a residential property management agreement? For multifamily property owners, having this agreement is even more critical.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Loss of rental income insurance: Essential coverage for every landlord

MRI Software

For many landlords, rental income is more than just extra cashits essential for covering mortgage payments, property maintenance, and personal financial goals. 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.

article thumbnail

The Value of Choosing PMI for Association Property Management

Property Management Inc.

Managing a homeowner’s association (HOA) or community isn’t just about mowing lawns and collecting dues. It’s a balancing act involving financial management, property maintenance , community engagement, and legal compliance. Why Professional Property Management Matters 1.

article thumbnail

Master lease agreements in multifamily real estate: Best practices and insights

MRI Software

Properly defining these elements protects everyones interests and facilitates smooth property operations. Financial arrangements: Common structures include gross leases, where tenants pay a fixed amount, and triple-net leases, where tenants cover property taxes, insurance, and maintenance.