Remove Lease Remove Rental Unit Remove Utilities
article thumbnail

11 Steps to Take Before and During Leasing Season to Maximize Profit and Efficiency

Appfolio

In the residential leasing world, May through September are known as leasing season—with July and August typically seeing the most volume. To make the most of leasing season, property managers, leasing teams, and marketing managers need to be ready for increased demand and commit resources to encourage lease renewals.

Lease 264
article thumbnail

8 practical use cases for AI in property management that you can try today

Buildium

Plus, AI can help you catch maintenance issues early to reduce repair costs and optimize utility use to lower energy costs. Its a great way to speed up leasing cycles and expand your pool of potential tenants. Lease Management Automation Managing leases and lease renewals can be challenging, especially as your portfolio grows.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Is a Co-Applicant in a Rental?

Bay Property Management Group

In this article, well break down what being a co-applicant really means, how its different from a co-signer, what the landlord looks for, and the good (and not-so-good) things you need to know before you sign that lease with someone. They share responsibility for fulfilling the lease terms. Main Takeaways What is a co-applicant?

article thumbnail

What Is a Mother-In-Law Apartment & Should You Have One?

Bay Property Management Group

Main Takeaways Mother-in-law apartments offer flexible living solutions , serving as spaces for aging relatives, guests, or rental units that can generate extra income. property management isnt just about fixing leaky tapsits knowing whether you can legally rent out that little unit in your backyard without breaking any rules.

Apartment 130
article thumbnail

Tips to Minimize Tenant Turnover

American Apartment Owners Association

The costs associated with vacant units, marketing to new tenants, and preparing properties for new occupants can quickly add up. Accordingto a report from Zego, the average cost of turning over a rental unit was $3,872 in 2023. Offer a range of flexible lease options to cater to diverse resident needs.

Tenant 246
article thumbnail

What Is Phrogging in Real Estate?

Bay Property Management Group

Its more common than you might think and can happen even in vacant rental units. Signs to Watch For : Look out for unexplained noises, unlocked doors or windows, personal items that dont belong, or unexpected spikes in utility bills. Sometimes, it even happens in rental units that are sitting empty between tenants.

article thumbnail

How to Minimize Vacancy Rates in Your Rental Properties

Young Management

A vacant rental unit not only generates no income but also adds to ongoing costs like maintenance, utilities, and advertising. Keeping your rental property occupied with reliable tenants is crucial for maximizing your return on investment and minimizing the time between leases.