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4 practices property managers use to keep vacancy rates down
Even in today’s high-demand rental property markets, tenants move on and property managers have to fill those vacancies ideally in a month or less. Keeping rental units full and temporary or prolonged vacancy rates low requires expert planning, proficient marketing strategies, and effective tenant screening procedures to find qualified, long-term tenants to deflect the financial losses associated with vacant properties. 1. Maintaining the property’s curb appeal Great curb ap
Tips for Property Managers to Lower Operating Costs
Reduce Property Management Expenses In a recent survey on challenges property managers grapple with, 45 percent of respondents said that “lowering operating costs” is “challenging” or "very challenging.” Reducing operating costs is a universal quest among businesses of all types. Maximizing income is de rigueur among owners and managers alike. That said, finding ways to lower operating costs is usually the dilemma, especially in today’s ever-changing world of property managem
Is it time to update your lease agreement?
We're already into peak rent season, which is May through August, when more people are looking for a new rental home than any other time of the year. It's during the busy summer months that, as a property manager, you need to know that your lease agreement is working for you. If you haven't revised your lease agreement in a year or more, now is the time for an update. Make lease agreement adjustments based on experience Take a step back and consider whether or not your lease
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