MRI Software

AUGUST 3, 2024

Occupancy Rate Indicates the percentage of rental units occupied by tenants. A 100% occupancy rate means all units are leased, while 0% means none are. Tracking this KPI helps evaluate leasing strategies and tenant demand trends, informing pricing and marketing decisions and aiding in maximizing rental occupancy rates.

Property Management 52

Property Management Property Manager Management Property 52

MRI Software

FEBRUARY 25, 2025

Multifamily properties account for over 40% of rental units in the United States, making them a significant part of the real estate market. Common strategic decisions include property renovations, lease structuring, and pricing adjustments. These platforms centralize data, making it easier to manage multiple units.

Landlord 52

Landlord Management Property Management Software Property Management 52

MRI Software

SEPTEMBER 10, 2024

Multifamily operating expenses per unit One way to keep track of your expenses is by looking at the cost per unit. This helps you see exactly where your money is going for each rental unit and figure out if there’s room to cut costs.

Utilities 52

Utilities Insurance Maintenance Property Management 52

MRI Software

FEBRUARY 20, 2024

This will protect you from the legal costs if someone is injured in your rental unit or if you accidentally cause damage to someone else’s property. Vandalism If your rental unit or personal property is vandalized, renters insurance can help cover the repair or replacement costs.

Insurance 52

Insurance Rental Unit Landlord Tenant 52

MRI Software

FEBRUARY 2, 2025

In contrast, condo ownership is limited to a single unit, with the HOA managing the shared areas. Multifamily properties require more hands-on involvement, including tasks like tenant screening, lease management, and repairs. With a condo, these responsibilities are limited to managing your unit, while the HOA oversees the rest.

Finance 52

Finance Single-Family Home Commercial Property Maintenance 52

MRI Software

APRIL 17, 2024

Determining who is responsible for accidental fire damage to rental property depends on the cause of the fire and the terms outlined in the lease agreement. This can encourage tenants to act responsibly in your rental unit and avoid an accidental fire. Where do the responsibilities of fire damage lay?

Insurance 52

Insurance Tenant Lease Agreement Landlord 52

MRI Software

DECEMBER 13, 2024

Adaptability: Use ADUs as rental units, guest housing, or even office spaces for remote workers. How can multifamily ADUs increase rental income and property value? Rental income grows significantly with each ADU you add. Benefits of multifamily ADUs Steady income: ADUs attract tenants seeking smaller, affordable spaces.

Single-Family Home 52

Single-Family Home Rental Income Finance Regulation 52

MRI Software

SEPTEMBER 5, 2024

Lease terms Flexible lease terms can also influence occupancy rates. Offering options such as short-term leases, month-to-month arrangements, or lease renewal incentives can attract a wider range of tenants. Flexibility in lease terms can accommodate different tenant needs and improve overall occupancy rates.

Apartment 52

Apartment Tenant Property Management Software Property Management 52

MRI Software

MARCH 22, 2024

Well-maintained interiors show tenants that you prioritize their comfort and safety, which can encourage them to keep renewing their lease. Prospective tenants are more likely to be attracted to properties that show clear signs of care and attention to detail, helping you quickly fill vacant units.

Maintenance 52

Maintenance Tenant Property Management Software Property Management 52

MRI Software

AUGUST 4, 2024

A multifamily property is more than just a building with multiple rental units. 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 The post Building community: Effective management practices for multifamily properties appeared first on MRI Software.

Management 52

Management Property Property Management Software Maintenance 52

MRI Software

DECEMBER 7, 2024

Lets say you own a multifamily property where the rental units are older, and youve noticed your tenants complaining about the outdated appliances and poor security. After installing new appliances and adding security cameras, you increase rents by $150 per unit.

Real Estate 52

Real Estate Finance Tenant Contractors 52

MRI Software

DECEMBER 1, 2024

Unlike single-family foreclosures, multifamily homes have multiple rental units. For landlords, its an appealing option because it allows the management of multiple rental units within a single investment. However, the potential for higher rental income makes these challenges worth managing.

Finance 40

Finance Real Estate Rental Income Rental Unit 40

MRI Software

JANUARY 2, 2024

You may be required to have fire extinguishers in all rental units, on each level, or just in common areas. Benefits of fire extinguishers in rental properties Fire extinguishers are more than just meeting regulatory compliance. You should consult with your local fire department or building codes to understand your obligations.

Rental Property 52

Rental Property Property Insurance Compliance 52

MRI Software

FEBRUARY 3, 2024

Imagine you receive the dreaded phone call that a fire has erupted in one of your rental units. Landlord insurance offers a safety net for your rental properties, protecting you against the costs of unforeseen circumstances. Everyone is safe, but the property has suffered from significant damage.

Insurance 52

Insurance Landlord Broker Rental Income 52

MRI Software

MAY 22, 2024

They primarily focus on the structure itself and may not offer protection for liability issues or loss of rental income, potentially leaving you exposed to significant financial risks. Another limitation is the lack of coverage for personal property within the rental unit.

Insurance 52

Insurance Landlord Rental Income Rental Property 52

MRI Software

MARCH 20, 2025

Population growth and limited housing supply in many areas drive demand for rental units, further boosting property values. Platforms like MRI Software streamline operations with tools for rent collection, maintenance tracking, and automated lease renewals. Learn more Want to learn more about the latest from MRI?

Apartment 52

Apartment Single-Family Home Finance Rental Income 52

MRI Software

MARCH 5, 2025

Multifamily investment, on the other hand, involves purchasing buildings with multiple rental units leased to long-term tenants. Multifamily investing requires a focus on tenant acquisition, lease agreements, and ongoing property maintenance to ensure steady cash flow. appeared first on MRI Software.

Airbnb 40

Airbnb Rental Income Airbnb Property Finance 40

Propertyware

DECEMBER 29, 2023

According to the Industry Report, “When it comes to the amenities within their rental unit, renters are looking for a space with all the comforts of home, from air conditioning and a washer and dryer to the option to own a pet—features that have drawn a third of the renters we surveyed to single-family rentals.”

Single-Family Home 52

Single-Family Home Property Management Property Manager Tenant 52

MRI Software

APRIL 1, 2025

Condos tend to sell at a higher price per square foot compared to rental units, especially in competitive markets. With the right multifamily management software , you can efficiently track your units, streamline upgrades, and attract more buyers. Learn more Want to learn more about the latest from MRI?

IT 52

IT Single-Family Home Property Condominium 52