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How to find the best rental property accounting software for landlords

Buildium

Managing rental properties involves more than just collecting rent and maintaining the property. Rental property accounting software offers landlords a practical way to handle these financial tasks. This can become overwhelming, especially for landlords who own multiple properties or those without a background in accounting.

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What to Do If You’re Facing a Rent Increase

Bay Property Management Group

Rent increases are pretty much unavoidable. While they’re unpleasant for tenants, they’re necessary for landlords who must pay for the rising maintenance costs, taxes, and utilities. So, if you’re facing a rent increase, there are a few things to remember. Contents of This Article: How Often Can Your Landlord Increase Rent?

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What Is Phrogging in Real Estate?

Bay Property Management Group

Most landlords worry about chasing late rent, getting repairs done, or dealing with difficult tenants. Its more common than you might think and can happen even in vacant rental units. Sometimes, it even happens in rental units that are sitting empty between tenants. It’s called phrogging.

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What Is Vacancy Loss & How to Calculate It

Bay Property Management Group

Vacancy loss is themoney a landlord loses when rental units remain unoccupied. While its often seen in a negative light, experienced property managers in Baltimore view it as more than just lost incomeit also represents potential earnings you could gain once the units are occupied. Should I lower my rent to reduce vacancy loss?

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A Winter Guide to Renting an Apartment in Portland, Maine

Real Property Management Evertrust

But renting an apartment during this chilly season comes with its own set of challenges and considerations. If you are looking for a rental apartment in Portland, Maine, during the winter months, it’s crucial to understand how the season affects apartment hunting, living conditions, and utilities.

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Tips to Minimize Tenant Turnover

American Apartment Owners Association

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 rental unit was $3,872 in 2023. With renting being 40% cheaper than owning on average, ensure your pricing remains attractive.

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Understanding a Rent Increase Notice and the Importance of Compliance

American Apartment Owners Association

Part of being a rental property owner or manager is understanding the local and state rent increase laws. A rent increase is a consistent responsibility for every landlord, but there are reasons beyond rent regulations and compliance to understand the process and reasons behind it. What causes rent to increase?