MRI Software

DECEMBER 3, 2024

Managing these properties can be challenging, and thats where residential property management comes in. If you own a rental property or multifamily building, the day-to-day responsibilities of tenant management, property upkeep, and finances can quickly become overwhelming. What is residential property management?

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MRI Software

DECEMBER 3, 2024

In this blog, we’ll explore the most important expectations of residential property management and how proactive management can enhance satisfaction. From communication and maintenance to leveraging technology, we’ll cover actionable strategies that can help you improve tenant retention and streamline your property management process.

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MRI Software

DECEMBER 2, 2024

Understanding these elements will help protect your investment and create a strong working relationship with your property manager. What is a residential property management agreement? A residential property management agreement is a formal contract that outlines the services a property manager will provide to the owner.

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MRI Software

DECEMBER 15, 2024

Thats where unoccupied residential property insurance comes inits designed to protect your investment when your property isnt actively in use. This guide breaks down everything you need to know about unoccupied residential property insurance and how to choose the right policy. What is unoccupied property insurance?

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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. What is landlord residential insurance?

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MRI Software

NOVEMBER 26, 2024

A corporate lease is a rental agreement where a business rents one or more residential units to provide housing for its employees. In a corporate lease, the business is the primary tenant, and it is responsible for paying the rent, while employees or contractors occupy the units. What is a corporate lease?

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Fourandhalf

AUGUST 22, 2024

While you might not need all of these features, or you may need some that aren’t listed here, this should serve as a good starting point: Comprehensive Tenant Management Effective tenant management is the backbone of property management software. Buildium Buildium is a comprehensive property management software that is very popular.

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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? This appeals to tenants looking for convenience, while allowing landlords to charge premium rents. Did you know that the U.S. million homes?

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Buildium

MAY 15, 2025

As a residential property manager, you have a front-row seat to one of the best opportunities for building wealth: owning rental properties. Every day, you help property owners grow their assetsso why not start doing the same for yourself? You know properties arent always full, and unexpected repairs happen.

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MRI Software

DECEMBER 12, 2024

were behind on their rent payments in 2021? A missed rent payment can create a domino effect of financial challenges. Tenant default insurance is a financial safety net for landlords when tenants fail to pay rent. Tenant rent default insurance ensures landlords stay financially secure even during tenant-related disruptions.

Rental Income 52

Rental Income Insurance Landlord Tenant 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.

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Residential Property Management Residential Property Management Rental Income Residential Property 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. While essential to the success of your property portfolio, maximizing resident occupancy can be challenging. In this guide, we explain how to maximize residential property occupancy.

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MRI Software

DECEMBER 11, 2023

Here we explore the factors that influence how to classify a multifamily property and the implications of the classification: Residential property classification Before categorizing a multifamily property, it is important to understand the difference between residential and commercial property.

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MRI Software

FEBRUARY 9, 2025

Residential management fees are payments property owners make to management companies for overseeing their rental properties. These fees typically cover essential tasks like tenant screening, rent collection, and property maintenance. Think of these fees as an investment in your propertys long-term success.

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MRI Software

FEBRUARY 8, 2025

A master lease agreement for multifamily is a legal contract where a property owner leases an entire property to a tenant, granting them management control without ownership. The master tenant can sublease units, collect rent, and handle operations, while the landlord enjoys a fixed income.

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MRI Software

DECEMBER 8, 2024

Instead of juggling spreadsheets, phone calls, and paper files, you can do everything in one placefrom tracking rent payments to scheduling maintenance. PMS solutions are particularly useful for residential properties where there are many tenants to manage. Rent reminders? Automatically sent. Maintenance requests?

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MRI Software

SEPTEMBER 8, 2024

An overview of multifamily housing in detail Multifamily housing encompasses various residential properties designed to accommodate multiple families or individuals. These properties include apartment complexes, duplexes, and townhomes, each catering to different demographics.

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MRI Software

OCTOBER 23, 2023

Artificial intelligence (AI) isn’t a dream of the future anymore – it’s here now, and it’s being used in industries across the globe, including in the residential real estate sector. In this guide, we look at what AI multifamily is, its functions, and how it is benefitting residential property managers by reducing risk and saving time.

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MRI Software

DECEMBER 13, 2023

This software also often includes features for online rent payments and communication channels between property managers and tenants. There are numerous benefits of multifamily property management software, leading to its increasing adoption by property managers.

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MRI Software

DECEMBER 5, 2024

Loss of rental income insurance is a type of coverage that helps landlords recover lost rent if their property becomes uninhabitable due to an insured event, like fire or water damage. Some policies will pay for lost rent even if the property was vacant at the time of damage, making it useful for landlords between tenants too.

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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.

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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.

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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.

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MRI Software

DECEMBER 12, 2023

Whether you’re looking to rent, buy, or invest, understanding these types is crucial for making informed decisions. This type of property is an excellent option for those seeking a blend of private homeownership with the investment potential of renting out the adjacent unit. What is the future of multifamily properties?

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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.

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MRI Software

MARCH 20, 2025

Multifamily apartment investing involves owning residential properties designed to house multiple tenants within a single building or complex. These properties include duplexes, triplexes, townhomes, and apartment complexes. These advantages help reduce financial risks and maintain steady revenue for property owners.

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Apartment Single-Family Home Finance Rental Income 52

MRI Software

MARCH 23, 2025

Managing multifamily properties involves everything from tenant screening and lease renewals to rent collection and maintenance. These tools allow you to automate tasks such as online rent payments, maintenance requests, and lease renewals, saving you time and effort. Learn more Want to learn more about the latest from MRI?

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MRI Software

MARCH 26, 2025

Most syndications target properties with value-add opportunities, where improvements drive rent growth and appreciation. Long-term appreciation and profit upon sale Syndications also deliver substantial profits when properties are sold. Our solutions allow landlords to focus on returns instead of day-to-day property issues.

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MRI Software

MARCH 27, 2025

Whether youre modernizing an aging property or keeping rents affordable, these grants can provide the financial support needed to meet your goals. Qualifying for a grant often depends on factors like the location of your property, the income levels of your tenants, and the specific goals of the funding program.

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MRI Software

MARCH 25, 2025

AI automation with MRI Software MRI Software provides a comprehensive suite of multifamily property management tools that work seamlessly with AI leasing assistants. From online applications and automated lease renewals to digital rent payments, these solutions simplify leasing operations and improve efficiency.

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MRI Software

MARCH 24, 2025

Simple Syndication with MRI Software At MRI Software, we understand that managing multifamily properties comes with unique challenges, and were here to simplify the process. Our comprehensive tools, including automated lease renewals, digital rent payments, and tenant screening, are designed to save you time and enhance tenant satisfaction.

Real Estate 52

Real Estate IT Rental Income Apartment 52

MRI Software

MARCH 22, 2025

Organizing occupancy with MRI Software MRI Software offers multifamily property management software that streamlines marketing, simplifies leasing, and enhances tenant satisfaction. With tools like online applications, digital rent payments, and automated lease renewals, landlords can save time while maintaining high occupancy rates.

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Buildium

APRIL 23, 2025

Leasing is at the heart of a thriving residential property management business. How Tenant Screening Fits into Property Management Leasing When it comes to leasing, your tenant selection process is the first line of defense. Keep in mind, though, that each property and situation is unique.

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Buildium

APRIL 23, 2025

As a residential property manager, one of your most important responsibilities is selecting tenants who will pay rent on time and care for your property. It helps reduce risks, keeps you compliant with laws, and helps you find high-quality tenants who fit your properties.

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Buildium

APRIL 23, 2025

Types of Lease Agreements There are several types of leases, and choosing the right one depends on the property and your goals. The tenant agrees to rent the property for the entire term, offering stability for both the landlord and tenant. If the tenant wishes to stay after the lease expires, you can renegotiate the terms.

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Lease Agreement Lease Apartment Property Manager 130

Buildium

MAY 29, 2025

Buildium: A Trusted All-in-One Management Platform Buildium stands out as a comprehensive property management solution designed to cover nearly every aspect of residential property oversight. This model helps property managers attract a wider range of applicants and close leases faster.

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