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Propertymanagers are under pressure to do more with lessfrom labor shortages to rising costs. What Is AI in PropertyManagement? In propertymanagement, these abilities are used to optimize workflows that would otherwise take longer. They can handle multiple conversations, 24/7.
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Despite shifting market conditions, the propertymanagement industry continues to grow at a stellar rate. According to Buildiums 2025 PropertyManagement Industry Report , 82% of the management companies we surveyed experienced portfolio growth within the last two years. Set up a tenant portal.
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?
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 a competitive market, effective marketing strategies for propertymanagement companies can set your business apart and attract a steady flow of clients. Theres a lot of strategies out there, and some may be better suited for your company and management style than others.
If youre considering starting your own propertymanagement company, you may be tempted to look into propertymanagement franchises. In this article, well explore some things you should keep in mind if youre thinking about being a propertymanagement franchisee.
AI in PropertyManagement: Separating Hype from Reality Artificial Intelligence (AI) is revolutionizing various industries, and the propertymanagement business is no exception. Understanding AI in PropertyManagement AI refers to the simulation of human intelligence processes by machines, especially computer systems.
At Bay PropertyManagement Group, we are committed to providing exceptional propertymanagement services while fostering a culture of growth and teamwork. In this months Employee Spotlight, we are excited to introduce Stephanie Smith, Director of PropertyManagement for our Austin office.
Concise communication with your tenants and team members is crucial. As the nature of your work continues to rely on digital communications; emails, texts, and phone calls are more essential than ever.
Understanding Rental Income The first step in getting a handle on tax accounting for rental property is understanding exactly what counts as rental income and expenses. Rental income includes all the payments you receive from tenants. Operating Expenses Operating expenses are the costs of maintaining and managing your rental property.
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But it does raise a big question: What rights do tenants have without a lease? From understanding tenants at will to knowing how eviction protections and security deposits work, well walk you through the key rights every landlord should know even without anything in writing. What Is a Tenant-at-Will and What Does It Mean?
It can also reduce operating costs, boost property values, and improve sustainability. Let’s look more deeper at the key sustainable practices every propertymanager and owner should know to develop greener, more efficient properties that residents will cherish.
The propertymanagement industry is evolving, mostly propelled by technological advancement. Indeed, AI-based technology is transforming every facet of rental propertymanagement. Continue reading to uncover the key technologies revolutionizing rental propertymanagement and defining the industry’s future.
Its no secret that rental maintenance requires careful coordination with tenants, vendors, and owners. We sat down with propertymanagement and process solutions consultant Kelli Segretto of K Segretto Consulting to tap into her 20+ years of experience within multifamily, single family, and LIHTC propertymanagement.
Wondering what all the fuss is about when you hear propertymanagers 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. We admit that its not an easily accessible subject matter.
An investigation of key sustainable practices every propertymanager and owner should know is important to create eco-friendly, better functioning properties that residents will like. Upgrades for Energy Efficiency One effective way to incorporate green living into your rental property is by enhancing your energy efficiency.
Expert Advice for PropertyManagersManaging 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.
Expert Advice for PropertyManagersManaging 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.
In the competitive world of propertymanagement, tenant turnover can be a significant drain on resources and profitability. The costs associated with vacant units, marketing to new tenants, and preparing properties for new occupants can quickly add up.
Analyze the neighborhoods growth potential, property valuations, rental demand, crime rate and school district ratings as well as future development plans. These factors can affect a propertys value and its appeal to tenants. That means that if one tenant moves out, you will still receive income from the other tenants.
The swift change in the rental propertymanagement industry is no surprise. All of these factors, taken together, have lastingly altered the propertymanagement landscape. What then drives propertymanagement going forward? They can answer tenant inquiries and requests promptly.
The regulations regarding snow removal for rental property owners are quite extensive and even intricate. Who is responsible for this task – you or your tenant? Some may even prohibit what kinds of road salt or other deicing materials you can utilize on your walkways and driveways.
If youre new to propertymanagement taxes, there could be some big mistakes youre making that could cost you or your owners money. Check out these six propertymanagement tax mistakes to see if youre guilty of making themand how to remedy them moving forward. What is a tax credit, you might ask?
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Have you ever wondered how to quickly assess whether a tenant can afford your rental property? In this article, well help you understand how to calculate the rent-to-income ratio, why it matters to you as a landlord, and what to do if a tenant doesnt meet the threshold. As experienced propertymanagers in Washington, D.C.,
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. If you rent out both units, youre earning from two tenants instead of one. What Is a Duplex?
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.
How We Approach Change Management One of the most significant hurdles to adopting new technology is ensuring that everyonefrom the propertymanager to the maintenance teamfeels comfortable with the change. The post Embracing Change: Navigating Technology Implementation in PropertyManagement appeared first on AAOA.
As propertymanagement in Baltimore can tell you, renting out a property is a business. After all, youre managingtenants, maintaining the property, and, of course, getting income. If your tenants give you services or goods instead of cash for rent, that counts too! Read below to learn more!
propertymanagement 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
As a landlord, you’re used to juggling everything from repairs to tenant concerns, but tiny invaders like ants can still catch you off guard. Apartments : Defined rooms, built-in storage, and better energy efficiencygreat for everyday comfort, privacy, and lower utility bills. Tenant Bill of Rights. The good news?
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.
There are several business models investors can explore, including owner-operator, lease arbitrage, and management models. As our Baltimore propertymanagement company can tell you, in simple terms, coliving is a modern way of sharing a home. Tenants get their own private bedroom, often with its own bathroom.
Renting to tenants who can reliably pay on time, every time. Verifying income helps you find tenants who are financially stable and trustworthy. Main Takeaways The income verification process is a core part of finding qualified tenants who can pay the rent on time. Its a win-win for both the landlord and the tenant.
Luckily, theres an easy answer: Propertymanagement accounting software. In this article, well explain why accounting software for propertymanagement is a must-have as well as our pick for the top software for 2025 so that portfolios both big and small can stay organized, up-to-date, and accurate.
Local zoning laws, rental regulations, and permits dictate whether you can build and lease them , with size restrictions, occupancy requirements, and compliance with tenant rights laws varying by region. For example, you’ll need to stay in the loop about tenant rights, rent control measures, and licensing requirements.
Before our propertymanagement company in Washington, D.C. Although the landlord may check your credit, they may be more flexible about your score since an established tenant is already taking on some of the rental responsibilities. Because of that, landlords and propertymanagers put a lot of stake into your income status.
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. If you own a rental property or are thinking about having one, inflation should be a guiding factor of making your decisions.
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Know Whats Included in Your Rent – Clarify whether utilities like water, electricity, gas, and internet are included in the rent or if they need to be paid separately. Are repairs your responsibility, or does the management cover them? Are Utilities Individually Metered? Are there Guest Parking Options, and Are They Free?
AI in PropertyManagement: Separating Hype from Reality Artificial Intelligence (AI) is revolutionizing various industries, and the propertymanagement business is no exception. Understanding AI in PropertyManagement AI refers to the simulation of human intelligence processes by machines, especially computer systems.
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