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Bye-Bye Broker Fee

American Apartment Owners Association

The New York City Council approved new legislation on Wednesday that will eliminate hefty upfront broker fees for most renters. In New York City, unlike nearly every other place in the country, tenants are often forced to fork over a fee, on top of their rent, to a broker hired by the landlord before signing their new lease.

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6 steps to jump from property manager to property owner: Build your rental portfolio with confidence

Buildium

You already know how to handle tenants, maintenance, budgeting, and legal compliance. Skills such as tenant screening, handling maintenance, and navigating local regulations directly transfer to rental ownership. Relationships with lenders, brokers, contractors, and inspectors can make a big difference when you start investing.

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Finding the Perfect Multifamily Property

American Apartment Owners Association

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. Make sure you understand the historical actuals on the expense structure, not just what the broker estimates they could be, Lea said. Get started by viewing

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5 Best Maintenance Practices to Keep Tenants Happy

Rental Housing Journal

5 best maintenance practices to keep tenants satisfied and keep the property owner and management out of legal trouble. If they do not do so, their tenants will not be happy and the property owner can end up in court. However, they are important to the tenant and must be addressed in a timely manner.

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What Is GCI (Gross Commission Income) In Real Estate?

Bay Property Management Group

Instead, they split it with their broker (the company they work for). These expenses can include broker splits, marketing costs, transaction fees, and other business-related costs. Our team specializes in strategic marketing, seamless property upkeep, and smooth tenant management. Do Agents Get Paid If They Dont Sell?

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Tenants in Big Cities Could Save Thousands if “Broker Fee” Reform Passes

BiggerPockets

New “broker fee” reform could help tenants save thousands of dollars when finding their next apartment or home to rent, but it could come at a significant cost to landlords. […]

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The hidden potential of rent roll analysis for property managers

Buildium

If you or one of your owners is looking to invest in new properties—or even sell a current property—a rent roll is used by investors, lenders, and mortgage brokers to assess the current and potential value of a multi-family property and to verify rent income. They’ll use it to determine both the current and potential value of the properties.