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What Insurance Do I Need If I Rent Out My House?

Bay Property Management Group

Protecting whats yours is one of the most important parts of managing a rental property. And if youve been asking yourself, What insurance do I need if I rent out my house? Read along to learn what each option covers and how to choose the right insurance for your rental. Homeowners insurance wont cover the lost rent.

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Renters’ Liability Insurance: What It Is and How It Works

Bay Property Management Group

Main Takeaways Renters’ liability insurance gives you coverage for personal liability and medical expenses if someone gets injured in your rental. While its not legally required, many experienced and tenant-focused property management companies in Philadelphia may require it for their rentals. Let’s get started.

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Is It Time for Property Management Software? Here’s How to Tell

American Apartment Owners Association

Managing properties whether its a few rental units or a growing portfolio takes a lot of time, organization and resources. A professional property management platform like Revela brings everything under one roof, so you can scale easily whether you manage 10 units or 10,000. Here are the clear signs to watch for: 1.

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How to Become a Tiny House Landlord

American Apartment Owners Association

AvalonBay has added about 50 ADUs into some of its California communities.The average 425-square-foot studios and junior one-bedroom units generate rent between $4 and $8 per square foot. On average, the units have been rented out within 30 days and there have been minimal concerns from existing tenants.

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What Can Void a Notice to Quit in PA?

Bay Property Management Group

You may have missed a rent payment or violated your lease, and now the issue has escalated. Main Takeaways Here’s what can void a notice to quit in PA: Improper Delivery or Notice Errors A notice must be personally delivered or posted at the rental unit.

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How To Calculate A Vacancy Rate? A Guide for Landlords

Bay Property Management Group

Keep reading to get the insights you need to maximize your rental income. Several Factors Influence Vacancy Rates – Population growth, rental pricing, and the local job market play key roles in determining how easily a property can attract tenants. Direct Impact on Revenue As we mentioned, your rentals are your business.

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How to find the best rental property accounting software for landlords

Buildium

Managing rental properties involves more than just collecting rent and maintaining the property. Rental property accounting software offers landlords a practical way to handle these financial tasks. This can become overwhelming, especially for landlords who own multiple properties or those without a background in accounting.