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How to find the best rental property accounting software for landlords

Buildium

Rental property accounting software offers landlords a practical way to handle these financial tasks. Whether you own a single rental unit or a large portfolio of properties, accounting software can help you manage your finances more effectively, reducing the stress associated with manual record-keeping.

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What Is Phrogging in Real Estate?

Bay Property Management Group

Its more common than you might think and can happen even in vacant rental units. Signs to Watch For : Look out for unexplained noises, unlocked doors or windows, personal items that dont belong, or unexpected spikes in utility bills. Sometimes, it even happens in rental units that are sitting empty between tenants.

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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.

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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. Let’s explore actionable tips to minimize tenant turnover and boost your retention rates.

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Digital marketing for property management: Choosing strategies that work

Buildium

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. ” Utilizing Ads Social media advertising allows you to target specific demographics, such as age, location, and interests.

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Condo vs Duplex: Which Should You Choose for Investing?

Bay Property Management Group

Here’s what they entail: Pros You Get Two Homes in One: A duplex is basically two rental units under one roof. Over time, it might cost more to manage each unit’s separate utilities and appliances than it would for single-family investments. More rent = more income!

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How to Minimize Vacancy Rates in Your Rental Properties

Young Management

A vacant rental unit not only generates no income but also adds to ongoing costs like maintenance, utilities, and advertising. Keeping your rental property occupied with reliable tenants is crucial for maximizing your return on investment and minimizing the time between leases. Strategies to Keep Vacancy Rates Low 1.