Buildium

APRIL 23, 2025

This step is key to finding tenants who will pay on time and care for your property. Negotiating Lease Terms: After finding the right tenant, youll negotiate the lease terms, including rent, deposits, and policies. Rent Collection and Financial Oversight Collecting rent is one of your core duties.

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Lease Property Management Property Manager Management 130

Buildium

MARCH 19, 2025

This isn’t just limited to the monthly rent; it also encompasses other payments such as advance rent, security deposits, and lease cancellation fees. Knowing what constitutes rental income is the first step in effective tax accounting for your rental property. Heres a quick breakdown of those definitions.

Rental Property Management 130

Rental Property Management Rental Property Property Management Property Manager 130

Buildium

MARCH 19, 2025

Managing rental properties involves more than just collecting rent and maintaining the property. One of the most important aspects of property management is keeping track of financial transactions, monitoring expenses, and ensuring taxes are filed correctly.

Rental Property 130

Rental Property Landlord Property Utilities 130

Buildium

APRIL 16, 2025

This gives you a preliminary maintenance management workflow you can improve over time. 3 Maintenance Workflows Every Property Manager Must Have That said, you need three main types of maintenance workflows: Work orders: Your go-to workflow for everyday maintenance requests.

Maintenance 195

Maintenance Property Maintenance Management Property 195

Buildium

MARCH 3, 2025

The Benefits of Property Management Automation The term property management automation might sound complex, but its really just about using software and technology to streamline your property management business. Try it for yourself with a risk-free 14-day trial or schedule a live guided demo.

Property Management 141

Property Management Property Manager Tenant Management 141

Buildium

MARCH 19, 2025

Make sure your listing is detailed with descriptions, clear pricing, and essential property features. Pro Tip: Property management software can help you create better listings in less time and syndicate them across top listing sites in just a few clicks. These sites attract a wide range of potential tenants.

Rental Property 130

Rental Property Landlord Property Media 130

Buildium

DECEMBER 30, 2024

For example, you can deduct the rent and utilities you spend for an office or other workspace outside of your home. If you rent equipment or vehicles, the rent you pay is fully deductible. If you rent equipment or vehicles, the rent you pay is fully deductible. Mistake #5: Waiting to File 1099s We get it.

Property Management 245

Property Management Property Manager Management Property 245

Buildium

OCTOBER 28, 2024

However, cultivating strong relationships with existing clients and encouraging them to expand can be a more cost-effective way to add doors to your portfolio—particularly in a market where more rental owners may be interested in acquiring new properties in comparison with the recent past. What Type of Property Manager Are You?

Property Management 246

Property Management Property Manager Management Property 246

MRI Software

DECEMBER 14, 2023

Multifamily property management software has transformed property management operations. This software enables property managers to streamline daily tasks, effectively manage revenue and expenses, and enhance tenant satisfaction.

Property Management Software 52

Property Management Software Property Management Property Manager Management 52

MRI Software

FEBRUARY 11, 2025

Lease audits provide a clear understanding of tenant agreements and ensure compliance with legal and property guidelines. They allow landlords to identify discrepancies in rent payments, lease terms, or operational policies that could lead to financial risks. What is the purpose of lease audits?

Lease 52

Lease Landlord Lease Agreement Property 52

MRI Software

FEBRUARY 5, 2025

Properties with two to four units typically qualify for residential loans, which are easier to secure and offer lower interest rates. Using multifamily property management software can help streamline rent collection, maintenance scheduling, and communication for properties with many tenants.

Property 52

Property Finance Rental Income Single-Family Home 52

MRI Software

DECEMBER 10, 2024

This is making many commercial landlords wonder, can you rent out commercial property as residential to address the housing crisis or boost property income? Whether youre wondering if converting commercial property to residential use is possible, or simply looking for tips on how to get started, this guide has you covered.

Commercial Property 52

Commercial Property Landlord Rent Residential Property Management 52

MRI Software

DECEMBER 6, 2023

Our software addresses crucial property management challenges, including lead generation, maintenance requests, lease renewals, and more. These seven tasks are ideal for property management automation, using state-of-the-art property management software that you can find at MRI Software.

Property Management 52

Property Management Property Manager Property Management Software Management 52

MRI Software

DECEMBER 13, 2023

Here are the trends you can expect to see in 2024 for multifamily housing: 1) Increasing use of PropTech One of the most significant trends in multifamily housing is the increasing adoption of Property Technology (PropTech), specifically multifamily property management software.

Property Management Software 52

Property Management Software Property Management Property Manager Apartment 52

MRI Software

DECEMBER 17, 2024

In this guide, well explore the features that make these tools invaluable for property managers and landlords. From simplifying lease renewals to ensuring robust tenant satisfaction, this software is packed with benefits. Why is apartment complex management software important? credit cards, bank transfers).

Apartment 52

Apartment Management Property Management Software Property Management 52

MRI Software

DECEMBER 15, 2024

now pay their rent online, reflecting a growing demand for digital convenience. As expectations for convenience increase, automation in property management is no longer a luxuryits a necessity. For multifamily properties, this means automating everything from rent collection to maintenance requests and even tenant communication.

Property Management 52

Property Management Property Manager Management Property 52

MRI Software

OCTOBER 17, 2023

SaaS (Software as a Service) solutions have transformed traditional property management. These SaaS property management software systems offer increased efficiency, cost-effectiveness, and data accessibility. A property management SaaS software provides a centralized platform for all data.

Property Management 52

Property Management Property Manager Management Property Management Software 52

MRI Software

DECEMBER 4, 2024

Below are the essential features to look for when selecting multifamily asset management software. Real-time data access Real-time data access ensures that you always have the latest information on your properties. You can instantly track rent payments, maintenance issues, and lease renewals.

Management 52

Management Property Management Software Property Management Property Manager 52

MRI Software

DECEMBER 8, 2023

We highlight their characteristics, preferences, and how you can attract and retain these tenants with multifamily property management software. The 5 types of multifamily renters Understanding the diverse needs and preferences of multifamily tenants is crucial for property managers.

Property Management Software 52

Property Management Software Property Management Property Manager Single-Family Home 52

MRI Software

FEBRUARY 24, 2024

Improve property value perception A tenant benefit package can significantly improve how tenants perceive the value of your property. When residents see the extra amenities and services you provide, they’re often willing to pay more in rent. You can utilize multifamily property management software for credit reporting.

Tenant 52

Tenant Property Management Software Insurance Maintenance 52

MRI Software

DECEMBER 12, 2024

Whether its missed rent payments or a lease violation, understanding why tenants default and how to address these issues is key to protecting your rental business. This often includes non-payment of rent, but it could also involve damaging property or breaking other lease terms like unauthorized subletting.

Tenant 52

Tenant Lease Agreement Insurance Property Management Software 52

MRI Software

MAY 10, 2024

Understanding economic occupancy and physical occupancy is essential for effective residential property management as it allows for in-depth assessment of the financial health of properties and make informed decisions. This percentage indicates how effectively the property is generating income relative to its full potential.

Residential Property Management 52

Residential Property Management Residential Property Management Rental Income Residential 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. Managing these properties effectively requires more than just collecting rent; it involves strategic planning, financial oversight, and operational efficiency.

Landlord 52

Landlord Management Property Management Software Property Management 52

MRI Software

DECEMBER 12, 2023

Property managers often utilize multifamily property management software as a powerful tool to streamline management tasks and responsibilities. This software can automate processes such as tenant screening, lease tracking, rent collection, and maintenance requests.

Property Management 52

Property Management Property Manager Management Property Management Software 52

MRI Software

FEBRUARY 4, 2025

Providing a digital walkthrough demonstrates that you value convenience and makes your property stand out. Online applications and payments Streamlining processes like applications and rent payments through multifamily property management software saves time and reduces paperwork.

Lease 52

Lease Tenant Property Management Software Property Management 52

MRI Software

NOVEMBER 4, 2024

Occupancy costs, also known as occupancy expenses, typically account for 35% to 50% of operating expenses for multifamily properties. These costs include rent, utilities, maintenance, property taxes, and insurance, making them a significant portion of your overall operating costs.

Utilities 52

Utilities Insurance Property Management Software Property Management 52

MRI Software

OCTOBER 24, 2023

In residential property management, following up on leads and maximizing occupancy are crucial to the success of your multifamily community. An occupancy rate refers to the percentage of occupied properties you have across your entire portfolio at any given time.

Rental Property 52

Rental Property Residential Property Management Residential Property Management Property Management Software 52

MRI Software

AUGUST 1, 2024

Rather than being physically present, property managers leverage technology and digital tools to manage essential tasks such as rent collection, lease administration, maintenance coordination, and tenant communication. This approach allows for effective management without requiring the manager or owner to be on-site.

Property Management 52

Property Management Property Manager Management Property 52

MRI Software

DECEMBER 12, 2023

Property managers with these properties in their portfolios will need to know how to navigate the unique challenges and rewards that come with managing homes for multiple families. What is a multifamily property? What is the future of multifamily properties? appeared first on MRI Software.

Single-Family Home 52

Single-Family Home Property Property Management Software Property Manager 52

MRI Software

DECEMBER 8, 2024

Next, evaluate the net operating income (NOI), which shows how much money the property generates before any debt payments are made. Finally, use the capitalization rate (cap rate) to determine the propertys return on investment. If that property is valued at $1 million, the cap rate would be 5%.

Property 52

Property Property Management Software Single-Family Home Property Management 52

MRI Software

DECEMBER 5, 2024

Affordable multifamily housing refers to properties with multiple residential units designed for affordable rent. When you have multiple tenants, youre not solely dependent on one income stream, so even if a unit becomes vacant, the others are still bringing in rent. Its like diversifying your income within a single property.

Government 52

Government Property Management Software Property Management Property Manager 52

MRI Software

SEPTEMBER 5, 2024

From property upgrades to community engagement and efficient marketing, we’ll share tactics to make the most of your multifamily investments and achieve long-term success. Multifamily occupancy rates refer to the percentage of rented units in an apartment complex, compared to the total available units.

Apartment 52

Apartment Tenant Property Management Software Property Management 52

MRI Software

FEBRUARY 3, 2025

What is the propertys current financial performance? Financial performance is one of the most critical factors to examine when buying a multifamily property. Begin by reviewing the rent roll to see how income is distributed across units and verify that tenants are paying market rates.

Property 52

Property Finance Tenant Rent 52

MRI Software

MARCH 25, 2024

To accurately assess the economic occupancy of a rental property, follow these simple steps: Determine gross potential rent (GPR): Start by calculating the total income the property could generate if all units were leased at fair market rates. Multiply the number of units by the market rent for each unit.

Real Estate 52

Real Estate Property Management Software Rent Tenant 52

MRI Software

DECEMBER 1, 2024

Well dive into key tactics to help you efficiently manage your property while securing long-term profitability. What managing an apartment complex entails Managing an apartment complex involves far more than simply collecting rent.

Apartment 52

Apartment Management Property Property Management 52

MRI Software

AUGUST 2, 2024

When it comes to selecting the right tenant for a rental property, verifying income is a crucial step in ensuring a smooth and successful tenancy. By verifying income, property managers can reduce the risk of late payments, defaults, or evictions, which protects the property’s revenue stream and solidifies budgeting and forecasting.

Property Management 52

Property Management Property Manager Management Property 52

MRI Software

DECEMBER 9, 2024

By implementing a thoughtful multifamily operating expense ratio strategy , you can keep your operating expenses under control while still ensuring tenant satisfaction and property profitability. Higher rent prices for tenants When costs rise, landlords often have no choice but to pass them on to tenants through rent hikes.

Management 52

Management Property Utilities Insurance 52