MRI Software

OCTOBER 24, 2023

In residential property management, following up on leads and maximizing occupancy are crucial to the success of your multifamily community. While essential to the success of your property portfolio, maximizing resident occupancy can be challenging. In this guide, we explain how to maximize residential property occupancy.

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MRI Software

MAY 10, 2024

Understanding economic occupancy and physical occupancy is essential for effective residential property management as it allows for in-depth assessment of the financial health of properties and make informed decisions. – Economic Occupancy delves deeper into the financial performance of the property.

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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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Tokeet

AUGUST 12, 2024

Provides advanced training in property management, including financial management, risk management, and resident retention. Residential Management Professional (RMP) : Offered by the National Association of Residential Property Managers (NARPM).

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MRI Software

FEBRUARY 25, 2025

Multifamily properties account for over 40% of rental units in the United States, making them a significant part of the real estate market. Managing these properties effectively requires more than just collecting rent; it involves strategic planning, financial oversight, and operational efficiency.

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MRI Software

DECEMBER 12, 2023

Property managers with these properties in their portfolios will need to know how to navigate the unique challenges and rewards that come with managing homes for multiple families. What is a multifamily property? These units are designed for residential use, with each functioning as a separate home.

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MRI Software

MARCH 25, 2024

To accurately assess the economic occupancy of a rental property, follow these simple steps: Determine gross potential rent (GPR): Start by calculating the total income the property could generate if all units were leased at fair market rates. Multiply the number of units by the market rent for each unit.

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MRI Software

NOVEMBER 4, 2024

Occupancy costs, also known as occupancy expenses, typically account for 35% to 50% of operating expenses for multifamily properties. These costs include rent, utilities, maintenance, property taxes, and insurance, making them a significant portion of your overall operating costs.

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MRI Software

FEBRUARY 9, 2025

Residential management fees are payments property owners make to management companies for overseeing their rental properties. These fees typically cover essential tasks like tenant screening, rent collection, and property maintenance. These can significantly impact your overall cost.

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MRI Software

FEBRUARY 8, 2025

A master lease agreement for multifamily is a legal contract where a property owner leases an entire property to a tenant, granting them management control without ownership. The master tenant can sublease units, collect rent, and handle operations, while the landlord enjoys a fixed income.

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McKee Properties

FEBRUARY 10, 2025

However, ensuring the success of your real estate investment often hinges on choosing the right property manager. A good property manager not only maintains the financial health of your property but also ensures tenant satisfaction by handling day-to-day tasks such as rent collection, maintenance, and compliance.

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MRI Software

OCTOBER 23, 2023

Artificial intelligence (AI) isn’t a dream of the future anymore – it’s here now, and it’s being used in industries across the globe, including in the residential real estate sector. This technology reduces risk through various functions, including ID verification, insurance management, and tenant screening. What is Multifamily AI?

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MRI Software

SEPTEMBER 8, 2024

An overview of multifamily housing in detail Multifamily housing encompasses various residential properties designed to accommodate multiple families or individuals. These properties include apartment complexes, duplexes, and townhomes, each catering to different demographics.

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MRI Software

DECEMBER 5, 2024

Loss of rental income insurance is a type of coverage that helps landlords recover lost rent if their property becomes uninhabitable due to an insured event, like fire or water damage. Some policies will pay for lost rent even if the property was vacant at the time of damage, making it useful for landlords between tenants too.

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MRI Software

MARCH 22, 2025

Tools like Google Analytics, property management software, and social media insights help measure the effectiveness of your campaigns. Organizing occupancy with MRI Software MRI Software offers multifamily property management software that streamlines marketing, simplifies leasing, and enhances tenant satisfaction.

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Second Nature

DECEMBER 16, 2024

The more value a PMC can drive for its property investors and residents, the more revenue they generate. We've worked with hundreds of residential property management companies and seen a wide variety of profitability levels, Daniel says. of one months rent. How is your cash flow?

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Esquire Property Management Group

OCTOBER 12, 2024

Convert a Rental Property Previously Acquired Through a 1031 Exchange : If you’ve used a 1031 exchange to acquire a rental property, you must live there for five years to qualify for Section 121, but you only need to occupy it for two of the last five years before selling. Use a 1031 exchange to invest in a new property.

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Second Nature

JANUARY 29, 2025

How to create a successful property management business plan Peter Lohmann , CEO of RL Property Management , lays out three critical steps for residential property managers looking to crystalize a successful business plan: Identify your ideal clients. Go out and find leads.

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MRI Software

AUGUST 29, 2024

There are different diversification strategies you can consider, such as: Residential and commercial mix: Investing in both residential and commercial properties can balance your portfolio. Residential properties tend to provide stable rental income, while commercial properties can offer higher returns.

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SparkRental

NOVEMBER 14, 2024

Who says you need a separate loan for every single property? As you scale your real estate portfolio, it can get tricky to borrow and manage individual loans for every residential property. It also limits your financing options and your ability to pull equity out of existing properties. Enter: blanket mortgages.

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Second Nature

OCTOBER 18, 2024

How to Value a Property Management Company: Contributing Factors Several factors help determine the value of a property management company, including revenue, profit margins, average rents, portfolio diversity, growth potential, and more. These are often driven by low average rents and high labor costs.”

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