MRI Software

MARCH 5, 2025

This can result in stronger tenant relationships and longer lease agreements. Checking for additional coverage options Basic liability insurance may not cover all potential risks associated with rental properties. Consider additional coverages such as loss of rental income, sewer backup protection, and vandalism protection.

Insurance

MRI Software

FEBRUARY 12, 2025

Residential management services focus on professionally overseeing rental properties to ease the landlords responsibilities. These services typically include tenant screening, lease management, rent collection, and property maintenance, among others. These efforts create a positive rental experience, encouraging tenants to stay longer.

Landlord

MRI Software

FEBRUARY 5, 2025

These properties provide landlords and investors with opportunities to generate rental income while meeting a variety of housing needs. They are ideal for landlords seeking rental income or for families looking to live close to one another while maintaining privacy. appeared first on MRI Software.

Property

MRI Software

DECEMBER 12, 2024

From how it works and why its crucial, to tips on choosing the best policy, youll gain the insights needed to protect your rental income and stay ahead of unexpected tenant defaults. Without tenant rent default insurance, youd not only lose that income but also face additional costs to replace the tenant.

Rental Income

MRI Software

DECEMBER 5, 2024

For many landlords, rental income is more than just extra cashits essential for covering mortgage payments, property maintenance, and personal financial goals. In fact, a 2020 report by the Joint Center for Housing Studies found that 41% of rental property owners depend on rental income for more than half of their household income.

Rental Income

MRI Software

DECEMBER 2, 2024

If you’re managing or investing in multifamily properties, you’ve likely come across the term “loss to lease multifamily.” Loss to lease is the difference between the current market rent and the rent youre actually collecting from your tenants. What is loss to lease in multifamily real estate?

Lease

MRI Software

FEBRUARY 27, 2025

Leases are designed to provide stability for both landlords and tenants, but unforeseen circumstances can sometimes force landlords to consider breaking the agreement. Understanding your rights and responsibilities during an early termination of the lease agreement by landlord is key to handling lease terminations effectively.

Lease

MRI Software

APRIL 25, 2024

Are you a real estate portfolio manager looking to streamline your lease management processes? This blog will walk you through the top five features to consider when choosing the right lease management software for your business. This includes lease terms, rent payments, lease commencement and expiration dates, and important clauses.

Lease

MRI Software

SEPTEMBER 3, 2024

Lease renewal fees are a critical factor in multifamily property management, affecting both landlords and tenants. Did you know that renewing a lease with an existing tenant can save up to $1,000 in turnover costs? Understanding lease renewal fees is essential for maximizing your rental income and ensuring tenant satisfaction.

Lease

MRI Software

NOVEMBER 26, 2024

Corporate leases are becoming an increasingly popular option for landlords seeking stable and reliable tenants. Corporate housing has grown significantly in recent years, becoming a key segment of the rental market. In this blog, we’ll explore what is corporate leasing and how it differs from traditional personal leases.

Residential Property

MRI Software

FEBRUARY 10, 2025

Managing tenant turnover can be one of the most challenging aspects of rental property management. For landlords and property managers, effective residential leasing management is essential to reduce vacancies, attract quality tenants, and maintain a steady rental income. What is residential leasing management?

Lease

MRI Software

MARCH 1, 2025

Lease agreements are a fundamental aspect of managing rental properties, helping to establish clear terms and protect both landlords and tenants. Whether you’re an experienced property owner or new to renting, choosing the right lease agreement is essential for maintaining a smooth and profitable rental operation.

Lease Agreement

MRI Software

MARCH 1, 2025

Early lease termination by tenants can leave landlords dealing with unexpected vacancies and financial losses. It can disrupt your rental income and make finding new tenants quickly a challenge. Knowing how to handle these situations efficiently helps landlords minimize financial risks and maintain a stable rental business.

Lease

MRI Software

DECEMBER 13, 2023

Lease management software has become a valuable tool for businesses who need to streamline their lease management processes. From small enterprises to large corporations, implementing lease management software  delivers numerous benefits and advantages. What can a lease management solution do for your business?

Lease

Buildium

MAY 15, 2025

Debt Service Coverage Ratio (DSCR) loans focus on the rental income potential, not your personal income. With the right software, you can automate rent collection, handle maintenance requests, stay on top of lease renewals, and keep detailed financial records.

Property Management

MRI Software

SEPTEMBER 29, 2024

Calculating effective gross income (EGI) Calculating EGI involves several steps to ensure accuracy. First, determine the potential gross income (PGI), which is the total rental income if the property is fully occupied. To boost EGI, you need to increase rental income and reduce losses.

Real Estate

MRI Software

SEPTEMBER 7, 2024

Multifamily property insurance is your first line of defense, covering everything from physical damage to liability claims and lost rental income. Plus, it can cover loss of rental income if your property becomes uninhabitable due to a covered event. Liability 53% Fire damage 52,3% Wind-driven damage 28.5%

Insurance

MRI Software

DECEMBER 13, 2024

If youre managing a multifamily property, youve likely wondered how to make better use of unused areas or increase rental income. By adding two detached ADUs, you could not only boost rental income but also diversify your tenant base. How can multifamily ADUs increase rental income and property value?

Single-Family Home

MRI Software

DECEMBER 6, 2024

Net Operating Income (NOI), Cash-on-Cash Return, and Capitalization Rate (Cap Rate) are crucial numbers to understand. NOI is calculated by subtracting operating expenses from gross rental income. This calculation reveals the income potential of the property after accounting for operating expenses.

Rental Income

MRI Software

MAY 10, 2024

Economic occupancy provides insights into the property’s income efficiency by comparing actual rent collected to potential maximum rent, enabling managers to optimize rental income and lease management strategies. A rate close to 93.8%

Residential Property Management

MRI Software

SEPTEMBER 15, 2024

Imagine you and a group of friends want to buy a $5 million apartment complex; alone, it’s out of reach, but by pooling your resources, each of you can own a slice of the pie and benefit from both rental income and potential property appreciation. This regular cash flow can be especially beneficial in markets with strong rental demand.

Real Estate

MRI Software

FEBRUARY 9, 2025

Percentage-based vs. flat fees Percentage-based fees are calculated as a percentage of your monthly rental income, typically ranging from 5% to 10%. This structure incentivizes management companies to maximize rental income, making it ideal for mid-range properties. These are often based on property size and complexity.

Rental Management

MRI Software

DECEMBER 6, 2024

These properties offer the chance to boost rental income and significantly raise the overall value of the asset. These properties are often older or not performing well, presenting opportunities for investors to increase rental income and overall property value. What are common physical improvements in value-add projects?

Real Estate

MRI Software

DECEMBER 16, 2024

It covers risks like damage to the building, loss of rental income, and liabilities if someone is injured on the property. Landlords residential property insurance protects not just the building but also your financial stability, ensuring youre prepared for events that could interrupt your rental income or lead to costly lawsuits.

Residential Property

MRI Software

SEPTEMBER 5, 2024

High occupancy rates are essential for steady rental income and increasing your property values. Steady rental income Occupancy rates are crucial because they directly link to your income and profitability. This steady income helps you manage maintenance, utilities, and staff salaries effectively.

Apartment

MRI Software

SEPTEMBER 24, 2024

Value can be influenced by location, condition, rental income, and market trends. Properties with higher rental incomes and stable occupancy rates tend to have increased values. Here’s an overview of some of the top ones: What is the Income Capitalization Approach? How do you determine the Gross Potential Income?

Property

MRI Software

SEPTEMBER 1, 2024

Multifamily renovations are a powerful tool for increasing property value, attracting quality tenants, and boosting rental income. Upgrades can raise property values and increase rental income by making apartments more appealing with modern amenities and updated interiors. Contact us today to learn more.

Apartment

MRI Software

MARCH 26, 2025

These investments let you benefit from rental income and property appreciation without the headaches of active property management. How multifamily syndication returns generate passive income Passive investors in syndications earn returns in two primary ways: rental income and property appreciation.

Rental Income

MRI Software

MARCH 25, 2024

At its core, economic occupancy serves as a measure for the financial performance of rental properties. It measures the ratio of actual income generated by a property compared to its potential income if all units were leased at market rates. Multiply the number of units by the market rent for each unit.

Real Estate

MRI Software

DECEMBER 1, 2024

Typically, these fees range between 4% and 10% of your monthly rental income, depending on the size of the complex and the services required. A positive tenant experience also plays a significant role in encouraging lease renewals, which helps maintain a steady income.

Apartment

MRI Software

DECEMBER 3, 2024

A good rule of thumb: try to ensure you can cover at least 75% of the mortgage with your personal income, leaving tenant rent as a cushion for unexpected expenses. Lenders might tell you that your rental income will easily cover your mortgage, but be cautious. What happens during vacancy periods or when repair costs spike?

Insurance

MRI Software

OCTOBER 17, 2023

Commercial property managers know that effective commercial tenant retention and engagement doesn’t end when the lease is signed. Get a software demo Commercial Real Estate Software Increase efficiency, reduce costs, and maximize portfolio performance. This can boost tenant satisfaction and encourage them to renew their lease.

Commercial Property

MRI Software

DECEMBER 8, 2024

Cash flow is the difference between the total income generated by the property and its operating expenses. For instance, if a property generates $120,000 in rental income annually and has $90,000 in expenses, the cash flow would be $30,000. Negative cash flow, on the other hand, is a red flag for potential investors.

Property

MRI Software

DECEMBER 3, 2024

Theyre responsible for everything from filling vacancies and managing leases to resolving tenant issues. A property manager also handles lease renewals to ensure a smooth transition at the end of each tenancy. This method keeps rental income aligned with market rates while reducing the likelihood of tenant turnover.

Residential Property Management

MRI Software

DECEMBER 5, 2024

While this program requires landlords to comply with significant regulations, it can be a reliable way to ensure rental income is consistent, even if tenants are struggling financially. Youre dealing with multiple tenants, which can mean more maintenance requests, more paperwork, and more lease renewals.

Government

MRI Software

SEPTEMBER 27, 2024

Get a software demo Multifamily software used by the top ten NMHC managers Take full control of the lead-to-lease process Get a demo Who typically performs underwriting for multifamily properties? You can assess market conditions by analyzing local rental markets, occupancy rates, and economic trends.

Real Estate

MRI Software

MAY 22, 2024

Fire damage to your rental property can come with devastating consequences. Without the right insurance, you will be left to deal with the financial strain of repairs and the loss of rental income alone. This ensures your cash flow is maintained, helping you manage financial obligations without the rental income.

Insurance