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Its no secret that rental maintenance requires careful coordination with tenants, vendors, and owners. We sat down with property management and process solutions consultant Kelli Segretto of K Segretto Consulting to tap into her 20+ years of experience within multifamily, single family, and LIHTC property management.
If youre renting out your property, its only a matter of time before youll need to make an emergency repair, conduct a routine inspection, or invest in preventative maintenance. Because maintenance is such an important and constant responsibility for landlords, it pays to have software that can help lighten the load.
Rent prices are always changing, and having utilities included might seem like an easy way to keep things simple. But are utilities included in rent? Main Takeaways To know if utilities are included in the rent, your answer is simple: look at your lease (and local laws). Read below to learn more.
In any homeowners association (HOA), maintenance goes beyond mowing lawns or cleaning sidewalksits about creating a community that feels safe, cared for, and well-managed. Thats why buttoned-up HOA maintenance scheduling is important. Each type of maintenance requires a different scheduling approach.
When people set up their monthly budget, rent is usually the #1 priority, followed by utilities. But sometimes, utility costs can pile up fast and throw off your entire budget. That’s why some landlords bundle certain utilities with the rent. Still, what utilities are included in the rent, exactly?
Property managers are under pressure to do more with lessfrom labor shortages to rising costs. What Is AI in Property Management? In property management, these abilities are used to optimize workflows that would otherwise take longer. If you automate too much, you could end up losing business.
Because of their capacity to improve an investors cash flow, generate multiple streams of income and boost their net operating income (NOI), multifamily properties are a popular type of real estate investment. Are you taking that big step and purchasing your first multifamily property? Get started by viewing .
As a property manager, you already know that, to find new clients and tenants, youll have to meet them where they are. Let’s dive into some social media strategies for property management to help you broaden your reach and better engage with your audience.
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. Here are the top six trends weve identified for this year.
As a property manager, surprises are the last thing you want. By anticipating repairs, you can plan ahead, budget effectively, and address issues quickly—keeping your properties in great condition while making sure your tenants and owners are happy. Property Type: Different property types experience wear and tear differently.
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.
In todays environmentally conscious world, sustainable property management is more than just a trend; it is a responsibility. From residential properties to commercial real estate, the growing emphasis on sustainability is reshaping how property managers operate, invest, and plan for the future.
Managing rental properties involves more than just collecting rent and maintaining the property. One of the most important aspects of property management is keeping track of financial transactions, monitoring expenses, and ensuring taxes are filed correctly.
In a competitive market, effective marketing strategies for property management companies can set your business apart and attract a steady flow of clients. Blogging: Regularly publish blog posts that address common issues and questions related to property management.
If youre considering starting your own property management company, you may be tempted to look into property management franchises. In this article, well explore some things you should keep in mind if youre thinking about being a property management franchisee. They are certainly an easy way to get your foot in the door.
Tenant screening is a crucial part of effective property management. It ensures that qualified, responsible renters are placed in rental properties, fostering positive, long-term tenancies. Proper screening helps reduce late payments, property damage, and renter turnover, leading to smoother operations and greater peace of mind.
But is inflation a threat to your rental property investment, or can it actually work in your favor? Lets explore how inflation on rental property investment can impact youand most importantly, how you can keep your investments safe and still make a profit, no matter what changes the economy goes through. So, what exactly is inflation?
Wondering what all the fuss is about when you hear property managers talk about data analytics? But analytics and insights based on good data can make a big difference in how your Carson rental property is leased, managed, and maintained. Marketing your rental property gets a boost when youre willing to use data analytics, too.
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.
Owning a rental property often means wearing many hatslandlord, accountant, and sometimes even handyman. So, if youre taking care of repairs yourself, can you deduct the cost of your own labor on a rental property? So, normally, you can deduct labor costs when you hire someone to work on your rental property. Lets break it down.
Landlords have numerous responsibilities when it comes to running a rental property. One of the most important is rental propertymaintenance. Why Is Rental PropertyMaintenance Important? Propertymaintenance for rentals is crucial for several reasons. Let’s find out.
Keeping rental properties occupied is one of the most important challenges landlords face, especially in a competitive market like Orange County. Vacant units not only disrupt cash flow but also lead to additional costs, such as ongoing maintenance, utilities, and marketing expenses to attract new tenants.
” Managing single-family rental (SFR) properties comes with unique challenges, particularly when it comes to balancing tenant satisfaction with propertymaintenance. One area that’s frequently overlooked but crucial for long-term cost efficiency is the maintenance of HVAC systems.
’ Whether you’re renting out one property or several, understanding taxes is crucial for your business’s health. As property management in Baltimore can tell you, renting out a property is a business. After all, youre managing tenants, maintaining the property, and, of course, getting income.
Note: This guide is intended to provide general information on rental property tax accounting. For specific advice on your own property or portfolio, speak with a tax professional that can examine your specific situation in detail. Operating Expenses Operating expenses are the costs of maintaining and managing your rental property.
In the world of rental properties, numerous maintenance responsibilities fall under the purview of either the landlord or the tenant. With effective communication, tenant satisfaction, and cost management, it helps to know who is in charge of maintaining rental properties.
Expert Advice for Property Managers Managing rental properties can feel like spinning a dozen plates at once. Between keeping tenants happy, maintaining properties, and marketing your services, the job demands a unique mix of organizational skills and creativity. Improve tenant retention rates.
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? AI-Powered Property Management Tools Property management software has developed greatly in the past years.
Cons of Buying a Duplex: Managing a duplex comes with added responsibilities, such as handling tenant disputes, increased maintenance costs, and financing complexities that may differ from single-family homes. Thats double the income from the same property. Lenders may view duplexes as higher-risk properties. What Is a Duplex?
Unexpected crises – an inevitable tragedy, protracted power outage, or emergency maintenances – can create major disruptions for rental properties. For property owners, these incidents can bring about property damage, renter displacement, and costly repairs.
property management companies often manage duplexes, so we can walk you through the biggest features that differentiate this multi-family property from other housing types. Separate Utilities: Many times, each unit can have its own utility meters for water, electricity, and gas. Washington, D.C
Expert Advice for Property Managers Managing rental properties can feel like spinning a dozen plates at once. Between keeping tenants happy, maintaining properties, and marketing your services, the job demands a unique mix of organizational skills and creativity. Improve tenant retention rates.
Effective property management maintenance services go far beyond just fixing problems when they arise. A proactive, well-organized maintenance strategy can prevent costly repairs, reduce tenant complaints, and ultimately increase the longevity and value of the property.
Assess the Age of Your HVAC System HVAC systems typically last between 10 to 15 years, depending on maintenance plans and usage. Modern high-efficiency units (SEER 15+) use advanced variable-speed technology and smart compressors to reduce energy waste, dramatically lowering monthly utility costs.
Key questions should focus on maintenance policies, guest parking options, safety measures, and the building’s history to ensure there are no surprises after moving in. How Are Maintenance Requests Handled? Therefore, its important to understand to what extent you could be charged for maintenance.
Tracking payments, handling lease agreements, responding to tenant inquiries, and staying on top of maintenance requests often leads to a never-ending cycle. Disorganization: Managing multiple properties and tenants can become a complex task without a single, centralized platform to track key details such as lease dates and payment histories.
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. Basic Appliance Maintenance.
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.
Paying vendors, maintenance teams, and utility bills manually can be time-consuming and error prone. Processing one transaction at a time is inefficient, especially when managing multiple properties. Automated Payables: Are You Avoiding Late Payments and Errors? Printing and mailing checks FOR you, once payments are approved.
A landlord’s primary responsibility is to ensure their rental property remains safe, comfortable, and appealing to tenants. For this reason, it’s essential to conduct proper maintenance whenever the seasons change. What parts of the property should you maintain when the weather gets warmer?
Property management and the essential role of policies, written communication and procedures for the year ahead. By The Fair Housing Institute As the new year begins, property management professionals have the opportunity to reflect on foundational practices that ensure both compliance and operational excellence.
Net Operating Income, or NOI, is a key metric in real estate that shows how much profit a property generates. Simply put, its the income a property brings in after covering all operating expensesexcluding taxes, mortgage payments, and depreciation. Now that we know what NOI is, lets look at how it helps in real estate investing.
For some, this may mean working out more often or starting a new hobby, but for otherslandlords and property managersit means organizing finances and preparing for the upcoming tax season. Luckily, theres an easy answer: Property management accounting software. But which option is the best landlord accounting software for you?
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