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Despite shifting market conditions, the property management industry continues to grow at a stellar rate. According to Buildiums 2025 Property Management Industry Report , 82% of the management companies we surveyed experienced portfolio growth within the last two years. Send communications via text message and email.
Property management software (PMS) has become a must- have for landlords who want to streamline operations, manage their tenants, and maintain organized finances. But with so many property management tools available, how do you choose the right one? What Sets Innago Apart as the Best Property Management Software?
Managing rental properties comes with plenty of moving partscollecting rent, handling maintenance requests, keeping up with leases, and tracking finances, to name a few. Weve outlined key features that can help independent landlords become more organized and tackle property management tasks more efficiently.
Whether or not its your full-time job, managing rental propertiesor even a single propertycan quickly become overwhelming. Tracking payments, handling lease agreements, responding to tenant inquiries, and staying on top of maintenance requests often leads to a never-ending cycle. Landlords can review and approve them in real-time.
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managinglease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets.
Handling a noise complaint is one of the biggest challenges for property managers. If the noise complaints are unresolved, it can lead to lease violations, disputes among residents, and even legal consequences if they conflict with local noise ordinances. This guide provides key strategies for handling noise complaints.
Not every rental situation comes with a formal lease. But it does raise a big question: What rights do tenants have without a lease? but lack lease-specific rights like fixed-term tenancy. Having a written lease is crucial for both landlords and tenants, ensuring clarity, legal safeguards, and fewer conflicts.
Tim Wehner is a former president of the National Association of Residential Property Managers (NARPM ). While hes no longer on the National Board of Directors, his experience in property management and expertise on all things NARPM make him a valuable source of information. Start us off right, Tim! Tim : Absolutely.
Acquiring property without buying it outright sounds too good to be trueuntil you learn about ground leases. For investors looking to build without spending millions on land, or landlords who want a more passive investment, this kind of lease could be the golden ticket. Main Takeaways What is a ground lease?
Effective crisis management is essential in property management to handle unexpected challenges like natural disasters, maintenance emergencies, resident disputes, and financial setbacks. Property managers can respond swiftly and efficiently with proactive planning, clear communication, and smart technology.
But sometimes, without even realizing it, you might break a lease rule that could get you in trouble or, worse, evicted. So, what is a lease violation, and how can you avoid making one? What Is a Lease Violation? A lease violation occurs when a tenant doesnt follow the lease terms they agreed to.
But with your lease coming to an end, youre now at a crossroads, wondering how to renew lease agreements and secure your home for another term. Main Takeaways Start the conversation earlyat least 60-90 days before your lease endsso you have time to negotiate and explore other options. What is Lease Renewal?
AI and Remote Hiring for Property Managers The property management industry is evolving at lightning speed. These innovations go beyond industry buzzthey offer real, practical solutions to help property managers optimize operations, improve communication, and reduce costs.
Choosing the right name for your property management company is more than just a creative decisionits a strategic one. Read on to learn our top tips for property management company names. A name like “Elite Property Management” conveys professionalism. Try to visualize your name on a sign or business card.
From Chaos to Clarity: How to Create a Remote Team Playbook for Your Property Management Business In todays evolving industry, property management companies are increasingly shifting to remote teams to improve efficiency and tap into a wider talent pool. Define your: Company vision What makes your property management company unique?
If youre a landlord with just one or small portfolio of properties, managing your investment can quickly dominate your time. The good news is that theres specialized software out there designed to help simplify many aspects of property management. This helps you spot and fix issues quickly.
Have you ever encountered challenges with a lease violation? Lease violations are common situations that can impact both homeowners and residents. Fortunately, with a professional approach, they are entirely manageable. In this article, you will find the most common lease violation types. What is Lease Violation?
Tenant screening is a crucial part of effective property management. From verifying financial stability to checking rental history and conducting background checks, property managers follow a structured process to make informed decisions. What Is Tenant Screening? Here is the process: 1.
In property management, ensuring a safe and respectful living environment isnt just about reacting to problemsits about preventing them before they arise. A property management company that fosters accountability and respect will naturally have fewer fair housing complaints. This starts with leadership.
If you’ve ever asked, “What is KPI in property management?” KPI stands for Key Performance Indicator , and in the property management business, its your north star. These metrics are how successful property managers track progress, identify weaknesses, and make data-driven decisions.
Did you know that two-thirds of rental owners expect top-tier customer service from their property management company? Why Personalized Service Matters in Property Management Every property owner has unique goals and needs, which is why personalized service is a must-have in todays market. Its not just a preferenceits the standard.
A lease renewal is a common part of renting. If a tenant’s lease term will end soon, it’s important to know how the lease renewal process works. What is a Lease Renewal? A lease renewal is an agreement between the tenant and the landlord to renew the lease. Lease Renewal.
Leading Your Property Management Team in 2025: A Growth-Focused Approach In property management, success depends on leadership. Whether youre managing local employees or remote team members , the way you guide, support, and empower your team determines how smoothly your operations run.
In the previous editions of our property management software buying guide, we covered the basics of how to compare property managers, from key features software should have to assessing pricing models and customer reviews. We also explored specific considerations for multifamily property management software.
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. As a property manager, it’s important to make the process as smooth and efficient as possible. Why Is a Move-In Checklist Important?
AI in Property Management: Separating Hype from Reality Artificial Intelligence (AI) is revolutionizing various industries, and the property management business is no exception. However, amidst the excitement, it’s crucial for property managers to distinguish between what’s merely hype and what genuinely delivers value.
The Mistakes Property Managers Make When Hiring a BDM If youre looking to grow your property management business, hiring a Business Development Manager (BDM) seems like a no-brainer. But many property management business owners make serious missteps in this processturning what should be an asset into a costly mistake.
Tenant turnover is the time between lease agreements when one renter moves out and the next renter moves in. Want to reduce rental vacancy […] The post Tenant Turnover Tips for Landlords and Property Managers – Video appeared first on Rentec Direct Blog.
How Property Managers Can Create an Effective Accountability Chart vs. Traditional Org Charts Learn how an accountability chart can improve leadership , team accountability, and growth in your property management business. If you want to grow your property management business , its time to rethink how you structure your team.
Generating enough revenue to compensate for rising costs remains a top challenge for property management companies in 2025. Property Management Companies Rate of Revenue Growth In Buildiums most recent survey of thousands of property management professionals, 91% said they expected their companys revenue to increase over the next two years.
There are so many types of leases. Examples of these are gross lease vs. net lease vs. triple net lease, which all sound very technical and full of jargon. As dedicated property managers in Baltimore and surrounding areas, we deal with a lot of leases. Table of Contents What is a Gross Lease?
Managing rental properties in Columbus can be incredibly rewarding, but even small missteps can snowball into expensive problems. Because even small screening and lease agreement mistakes can cost you thousands in lost rent, legal fees, and property damage, not to mention time, stress, and lost sleep. Then someone messages you.
Finding the perfect commercial property for your business is an exciting milestone, but lease negotiations can sometimes feel overwhelming. Negotiating commercial property leases requires careful market research and attention to key terms like rent, lease duration, and maintenance responsibilities. What is a Commercial Lease?
Heading into 2025, portfolio growth was at the top of property management companies list of priorities for the seventh year straight. In Buildiums most recent survey , 91% of third-party property management companies told us that they expect to grow their portfolios in the two years to come.
In the previous editions of our property management software buying guide, weve talked about comparing software using high-level criteria such as price and features. How Does Multifamily Property Management Software Benefit Your Business? Lets take a look at some of those benefits in detail. All these factors add complexity to the job.
The swift change in the rental property management industry is no surprise. All of these factors, taken together, have lastingly altered the property management landscape. What then drives property management going forward? As a professional in the industry, staying ahead of the trends is imperative.
The property management industry is evolving, mostly propelled by technological advancement. Indeed, AI-based technology is transforming every facet of rental property management. Continue reading to uncover the key technologies revolutionizing rental property management and defining the industry’s future.
This isn’t just limited to the monthly rent; it also encompasses other payments such as advance rent, security deposits, and lease cancellation fees. Operating Expenses Operating expenses are the costs of maintaining and managing your rental property. Rental income includes all the payments you receive from tenants.
Implementing marketing strategies can require time and resources that you might not have as a busy property manager. Thats where property management marketing tools come in. Property Management Marketing Tools: What Are They? Because this kind of software covers so much ground, it also has a wide range of benefits.
In property management, it is essential to be thoroughly aware of tenants’ rights and obligations. Let’s examine the specifics of these rights and obligations to assist property managers in better and more effectively navigating this complex environment.
Traditional Property Management Pricing Most property management companies charge at least two types of fees: a leasing fee and a monthly management fee. The leasing fee is usually 50-100% of the first months rent , which means property owners pay hundredsif not thousandsupfront just to get a resident in place.
Digital marketing might just be the most common and accessible way that property managers can reach prospective owners and tenants. The Importance of Digital Marketing in Property Management When property owners and renters begin their search for management or a rental unit, they usually start online.
In property management, ensuring a safe and respectful living environment isnt just about reacting to problemsits about preventing them before they arise. A property management company that fosters accountability and respect will naturally have fewer fair housing complaints. This starts with leadership.
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