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What Happens If Someone Gets Hurt on Your Rental Property?

Bay Property Management Group

In the meantime, your tenant’s renter’s insurance can help cover the costs. That said, if the tenant or a guest did something to cause the accident, then that could be a whole different story. On the other hand, if the problem is on the tenant, renters insurance can help cover their costs.

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What Utilities Are Included in Rent: A Guide for Tenants

Bay Property Management Group

Oftentimes, landlords exclude them because of how much tenants’ usage amounts can vary, or because of provider-specific agreements. Heres what youll likely need to budget for: Electricity This is almost always the tenants responsibility since each household’s usage looks different from one another.

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Lessor vs. Lessee: How Are They Different?

Bay Property Management Group

They both come from leasing; a lease agreement where one person lets another use their property in exchange for payment. For instance, if a landlord rents out an apartment, they’re a lessor making a rental agreement with a tenant (lessee). Essentially, they must take care of the property and its tenants.

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Choosing an apartment management certification: Tips and comparisons

Buildium

Expand Knowledge and Build Skills Certification programs cover topics such as fair housing laws, leasing strategies, maintenance oversight, financial management, and tenant relations. Benefits: Enhances leasing success and tenant engagement, boosting occupancy.

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Do I need landlord liability insurance? key benefits and tips for adequate coverage

MRI Software

Landlords may face various liability risks, from tenant injuries to property damage claims. This guide will cover what landlord liability insurance is, why its essential, and the key benefits it offers. What is landlord liability insurance? Why do landlords need liability insurance?

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What Is a Master Lease in Real Estate, Answered

Bay Property Management Group

Here’s a real-life example: Imagine a lessee leases a 10-unit apartment building from the owner for 5 years under a master lease. During this time, they can renovate the units, raise rents, and manage tenants as if it’s their own property. Essentially, the lessee is running it like their own business during the lease term.

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The shift to digital property management and what it means for your business

Buildium

You dont have to: Dig through file cabinets Sort through email chains Ask your team who last had the document Leases, correspondence, work orders, receipts, insurance certificatesits all right there. My tenants/vendors arent tech-savvy. Work From Anywhere Without Losing Control Digital tools untether you from the office.