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How to find the best rental property accounting software for landlords

Buildium

Rental property accounting software offers landlords a practical way to handle these financial tasks. Whether you own a single rental unit or a large portfolio of properties, accounting software can help you manage your finances more effectively, reducing the stress associated with manual record-keeping.

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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. With AI-powered smart devices, you can track and automatically adjust HVAC, lighting, and other utility usage. To hit the sweet spot, use AI to analyze real-time rental market data.

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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.

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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.

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What Is a Co-Applicant in a Rental?

Bay Property Management Group

A co-applicant can be: Spouses or Partners: Couples who wish to live together and combine their financial resources to meet rental qualifications. Roommates: Friends or acquaintances who agree to share a rental unit and its associated costs. Family Members: Relatives who decide to cohabitate and support each other financially.

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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. Let’s explore actionable tips to minimize tenant turnover and boost your retention rates.

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Digital marketing for property management: Choosing strategies that work

Buildium

The Importance of Digital Marketing in Property Management When property owners and renters begin their search for management or a rental unit, they usually start online. ” Utilizing Ads Social media advertising allows you to target specific demographics, such as age, location, and interests.