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Main Takeaways Renters’ liability insurance gives you coverage for personal liability and medical expenses if someone gets injured in your rental. While its not legally required, many experienced and tenant-focused property management companies in Philadelphia may require it for their rentals. Let’s get started.
If you have severe vacancy loss, it could be the death knell of your rental business. Vacancy loss is themoney a landlord loses when rentalunits remain unoccupied. Why Vacancies Matter in Real Estate When your rental(s) sit empty, its not just lost rentit affects your entire business. Keep reading to learn more.
Learn more about how RentalsUnited and Booking.com worked together to bring property managers a connection that exceeds standard channel management in the vacation rental industry. The vacation rental industry is constantly evolving. having to log into Booking.com every time).
Keep reading to get the insights you need to maximize your rental income. Why Vacancy Rate Matters for Landlords Before diving into the details, lets define vacancy ratesimply put, its the percentage of vacant units compared to your total rentalunits. Notably, empty units mean lost rental income.
Main Takeaways Here’s what can void a notice to quit in PA: Improper Delivery or Notice Errors A notice must be personally delivered or posted at the rentalunit. Your landlord has served you with a notice to quit, and you don’t know what in the world you should do. Providing the wrong timeframe can void the notice.
The Amsterdam-based company particularly popular with Europeans originally focused on hotels, and now boasts an ever-growing inventory of vacation rentals. Listing your vacation rentals on platforms like Booking.com is essential in an increasingly competitive market, and tools like RentalsUnited make it easy.
Whether you own a single rentalunit or a large portfolio of properties, accounting software can help you manage your finances more effectively, reducing the stress associated with manual record-keeping. There are a variety of software solutions available, each offering different features suited for landlords with varying needs.
AvalonBay has added about 50 ADUs into some of its California communities.The average 425-square-foot studios and junior one-bedroom units generate rent between $4 and $8 per square foot. On average, the units have been rented out within 30 days and there have been minimal concerns from existing tenants.
Get started on your distribution strategy with RentalsUnited. At RentalsUnited, weve rounded up the top-tier channels you should be listing on to maximize occupancy and revenue, besides Airbnb. Vrbo Founded in 1995, Vrbo originally Vacation Rentals By Owners or VRBO is a veteran of the vacation rental industry.
Its more common than you might think and can happen even in vacant rentalunits. Sometimes, it even happens in rentalunits that are sitting empty between tenants. In that case, it’s definitely important to check out the attics, basements, and even empty units. It’s called phrogging.
Long Beach, California is an attractive market for real estate investors due to its coastal location, growing economy, and strong rental demand. The city offers a diverse range of properties, from high-end beachfront homes to affordable multi-family units, making it suitable for both seasoned investors and those just entering the market.
Find out how the RentalsUnited’s Vrbo channel manager can help you sync your rates and availability in real-time. If youd like to learn more about writing headlines that convert, check out our guide to vacation rental copywriting its got a couple of foolproof headline templates, too.
Occupancy Rate This tells you how many of your rentalunits are currently leased. Days on Market How long it takes to fill a vacant unit. If you’ve ever asked, “What is KPI in property management?” ” you’re not alone. This impacts tenant satisfaction and operational efficiency.
Google Vacation Rentals is not an OTA, so the search engine doesnt actually play a role in processing bookings. In this guide, well explain everything you need to know about what Google Vacation Rentals is , its benefits, and how to list on Google Vacation Rentals to increase your properties visibility.
As a child, Hank Rossi sometimes helped his father take care of the family rental-maintenance business. In the mid-90s he got into the rental business for himself. ” How Can I Monitor Tenant Smoking In My No-Smoking Rental? Remember Hank is not an attorney and he is not offering legal advice.
As proptech continues to expand, integrating smart technology into rentalunits early gives properties a strong competitive edge. With features that improve comfort, security, and energy efficiency, smart home technology benefits both residents and property managers. What isSmart Apartment Technology?
In other words, the landlord has followed the local building or housing codes and ordinances which address the structural integrity of the rentalunit along with the tenants health and safety. Suspicious Activity: Most leases have a provision banning illicit actions inside rentalunits.
Moving into a new rental property can be an exciting experience for tenants, but it can also be stressful. Coordinating the move, getting the keys, signing the lease, and making sure the unit is in good shape before move-in are all high priorities. Why Is a Move-In Checklist Important? For a move-in checklist template, click here.
The Importance of Occupancy Limits Occupancy limits are established to maintain safety standards and prevent overcrowding in rentalunits. When a property manager suspects that a unit is housing more occupants than allowed, the first step is to confirm the facts.
The costs associated with vacant units, marketing to new tenants, and preparing properties for new occupants can quickly add up. Accordingto a report from Zego, the average cost of turning over a rentalunit was $3,872 in 2023. Let’s explore actionable tips to minimize tenant turnover and boost your retention rates.
On the other hand, duplexes typically offer better rental income potential and full ownership of the property. The units can be side by side or stacked on top of each other, but they always share a wall. Ownership You own just the inside of your condo unit, plus a shared interest in the common areas. Which ones better?
Why Add Motorhomes to Your Rental Portfolio In a highly competitive hospitality market, differentiation will be the name of the game. Adding a motorhome to the rentals will attract travelers with a need for flexibility and something different.
Newsom just signed a bill that amends some of the tenancy termination rules under the California Tenant Protection Act of 2019 known as SB 567 Since its inception, the Tenant Protection Act of 2019 has allowed for an owner to recover possession of a rentalunit to substantially remodel it.
Barcelona, Spain – 13 November 2024: According to new research from RentalsUnited – a leading vacation rental channel manager – a staggering 90% of property managers have experienced at least one incident of damage in the past two years, unearthing the extent of the issues in the sector.
What happens if your owner needs coverage for their rentalunits, but not for the possessions inside? Thats where dwelling fire insurance for rental properties may be able to help.In Or what if they want a little extra coverage outside of typical landlord policies? What Is Full Replacement Cost vs. Fair Value Coverage?
The current law applies only to residential rentalunits 15 years and older and limits rent increases to 10% a year. The bill, Senate Bill 722 , provides a ban on algorithm-based pricing software by rental companies and includes a provision to remove the rent cap exemption for buildings older than seven years old.
For rental property owners, a key decision must be made whether to manage your properties or hire a professional Glenview property management company. However, managing rental properties daily is a real job that can be very time-consuming. million rentalunits – are owned by individual investor landlords.
Tenants smoking inside rental property can be a real headache for property managers so in this weeks Ask Landlord Hank question he offers some suggestions on how to know find out if tenants have been smoking in the rentalunit. appeared first on Rental Housing Journal.
Many more rentalunits are affected by this program and are what most people think of when they consider New York City rent-controlled housing. If you own rental property in these states, its recommended that you contact a legal professional or expert to familiarize yourself with any applicable rent control laws.
A vacant rentalunit not only generates no income but also adds to ongoing costs like maintenance, utilities, and advertising. Keeping your rental property occupied with reliable tenants is crucial for maximizing your return on investment and minimizing the time between leases. Strategies to Keep Vacancy Rates Low 1.
Multifamily property management software is a comprehensive tool designed to help you oversee multiple rentalunits with less effort, whether youre focused on a single property or have a portfolio with buildings spread across several locations. Lets take a look at some of those benefits in detail.
Reducing vacancy rates isn't just about luck or timing; it's about strategy, preparation, and knowing the right moves to fill your rentalunits. This guide will equip you with proven techniques and insights for keeping your properties occupied, maintaining a steady rental income, and building a thriving rental business.
Spring: Refresh and Prepare for Peak Season Spring is all about renewal, making it the perfect time for maintenance and getting ready for a busy rental season. Maintain A/C Units Make sure air conditioning is running efficiently to prevent mid-season breakdowns. But managing a property isnt the same year-round.
Streamlining Multi-UnitRental Management with AdvanceCM Managing multiple rentalunits efficiently is essential for property managers handling large-scale operations. Centralized Multi Calendar: Manage all your units from a single platform, making it easy to view availability, bookings, and guest information.
Senator Umberg, the bills author, highlights its broader impact: At a time when rental housing supply is critically low, Im proud to introduce a measure that delivers a comprehensive process for Californians, local governments, and law enforcement to tackle illegal squatting.
The Importance of Digital Marketing in Property Management When property owners and renters begin their search for management or a rentalunit, they usually start online. Thats what makes digital marketing property management its a way to meet your prospects where they are.
Twenty-eight rentalunits before turning twenty-eight years old? That takes some SERIOUS drive. But after talking to Jake Radawick, the whole story makes much more sense. Within three years, Jake […]
California is preparing for new move-in, move-out documentation law that requires landlords take photos of rentalunits before and after a tenant moves in. The new documentation law requires landlords to take photos of rentalunits before and after a tenant moves in.
In 2023, this led to some of RentalsUnited’s highest-value bookings made through these channels. How to use Request to Book on Booking.com with RentalsUnitedRentalsUnited offers the Request to Book feature for properties listed on Booking.com. This is called ‘Instant Booking’. Not an RU customer yet?
However, both federal and state laws have something to say about smoking — even in private spaces like rentalunits. In addition, landlords may prohibit smoking under the rental agreement and an apartment smoker will face consequences should they ever break the rules. Let us discuss the former first. According to the U.S.
It can be difficult to deal with a smelly rental property, particularly if your new tenants don’t own pets or are extremely sensitive to pet odors. Pet odors can be difficult to eliminate from a rental property, especially if the tenant has occupied it for an extended period of time or if the pets have caused significant damage.
Luke Carl’s real estate “gateway drug” took him from one home to three hundred rentalunits in record time—and it can do the same for you. What started as a […]
In other words, the landlord has followed the local building or housing codes and ordinances which address the structural integrity of the rentalunit along with the tenants health and safety. Suspicious Activity: Most leases have a provision banning illicit actions inside rentalunits.
The Importance of Occupancy Limits Occupancy limits are established to maintain safety standards and prevent overcrowding in rentalunits. When a property manager suspects that a unit is housing more occupants than allowed, the first step is to confirm the facts.
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