American Apartment Owners Association

JANUARY 9, 2025

Rental business owners frequently keep tight budgets, balancing operating expenses like insurance and utilities with unexpected repairs and even long-term capital investments. If this sounds familiar, you might assume property management software is just another expense eating into your profits.

Property Management Software

American Apartment Owners Association

JANUARY 9, 2025

Rental business owners frequently keep tight budgets, balancing operating expenses like insurance and utilities with unexpected repairs and even long-term capital investments. If this sounds familiar, you might assume property management software is just another expense eating into your profits.

Property Management Software

Buildium

DECEMBER 30, 2024

Insurance Insurance you buy for your business, such as business liability or property insurance. If you have a home office, you can deduct some of your homeowner’s insurance. When you hire an independent contractor, that cost is deductible, too. This deduction is scheduled to end on Jan.

Property Management

Buildium

NOVEMBER 5, 2024

Property managers are required to request a W-9 from and issue a 1099-MISC form to each owner, attorney, and contractor they work with, so long as payments meet or exceed the $600 threshold. Luckily, you’ve got the knowledge and tools to make filing 1099 forms for property management a breeze.

Property Management

Buildium

OCTOBER 28, 2024

For instance, the majority of rental owners want their property management companies to handle payments electronically , and renters prefer to complete most processes on their smartphone, with the exception of applying for rentals and signing up for renters insurance.

Property Management

Buildium

MAY 15, 2025

Relationships with lenders, brokers, contractors, and inspectors can make a big difference when you start investing. You know properties arent always full, and unexpected repairs happen. List your expected rent income and subtract all expenses, such as your mortgage, taxes, insurance, maintenance, and vacancy periods.

Property Management

MRI Software

DECEMBER 16, 2024

Owning rental properties can be rewarding, but without the right insurance, a single incident could cost you thousands of dollars. If youre renting out a residential property, protecting your investment isnt just smartits essential. In this guide, well break down everything you need to know about landlord insurance.

Residential Property

Second Nature

OCTOBER 1, 2024

Now, property management services are increasingly seen as a way to generate value for residents, real estate investors, and property management companies. PMCs are delivering resident benefits like credit reporting, renter’s insurance programs, pet guarantees, and more. Maintenance and repair.

Property Management

California Pacific Realty

AUGUST 14, 2024

This would encompass maintenance costs, such as repairs and routine upkeep, along with variable expenses, such as property taxes, which depend on the location. Other important costs that should be included in property accounting are utilities like water, electricity, and gas and insurance premiums covering various risks.

Property Management

Appfolio

AUGUST 7, 2020

No property manager wants to face claims of negligence in court, deal with skyrocketing insurance premiums, or experience bad press and negative reviews. As a property manager, you also have to make sure contractors get paid and expenses are tracked. Effectively Track and Handle Expenses. Back to Top.

Property Maintenance

MRI Software

AUGUST 6, 2024

Talk with contractors about payment plans or discounts to manage the financial burden more effectively. You can also explore financing options or insurance claims to help cover the costs without impacting your overall budget. One essential technology for operational risk management is multifamily property management software.

Management

Buildium

MAY 21, 2025

Maintenance and repair markups : A surcharge for acting as a general contractor on maintenance itemsusually a percentage of the total property maintenance bill. Payroll and contractor fees : Payroll includes the base salary paid to employees along with any benefits, bonuses, overtime pay, training, and development costs.

Property Management

Buildium

MAY 21, 2025

Assets include checking accounts, savings accounts, and accumulated depreciation of each property, while your liabilities could include refundable security deposits, credit card balances, and taxes/insurance owed on properties. Why Do You Need a Chart of Accounts for Your Property Management Company?

Property Management

Buildium

MAY 6, 2025

Maintenance and Repairs: Lay out how you intend to handle managing maintenance tasks for the properties in your portfolio. Do you plan to hire staff to handle these tasks or outsource to third-party contractors? Discuss how your team will manage these responsibilities alongside other, larger projects.

Property Management