For better or worse, preparing units for tenant turnover is part of every property manager’s job. There’s good news, though. Just a few simple strategies can go a long way toward making the turnover process more efficient and cost-effective....
Your vacancy rate is low and you have great long-time tenants. Sure, comparable units are renting for more, but why raise rents when things are going so well? Because, just like any other market, the rental market is cyclical. As...
A line from John Belushi’s character in the 1978 movie Animal House sums up the concerns many landlords have when it comes to renting to college students: “Food fight!” While it’s true students can be hard on rental...
Security deposits—and how they’re handled—may be one of the most misunderstood topics for landlords and property managers alike. Part of this confusion stems from the fact that security deposit laws vary from state-to-state. For example, many states have...
I don’t know about you, but I hate filling vacant units. Maybe hate is a strong word, but searching for tenants, screening tenants, and doing showings just to fill a single vacant unit is a major pain. So...
Chances are, at some point in your property management career, you’ll have to evict a tenant. Whether it’s because he hasn’t paid his rent, threw one too many late-night parties, or violated any other term of the lease...
Not only do we all want our tenants to feel safe, but we also want them to actually be safe. The last thing any property manager wants is for a tenant to fall victim to injury, theft, or...
Wouldn’t it be great if all tenants stayed in their units for multiple years, agreeing to regular rent increases, obeying all the rules, and paying their rent on time? Since the reality is that tenants come and go...
In 2020, a portion of the rental market moved out of big coastal cities such as San Francisco and New York, and moved to mid-size cities and suburban communities. However, rental listing company Zumper took a look at...
Since one of the core responsibilities of a property manager is to manage an owner’s assets, income, and expenses, you’re constantly dealing with accounting whether you like it or not. From receiving rent payments to handling vendor invoices,...
Think about the top 10 sites you visit every week. They probably have one thing in common: accurate, authentic, quality information. Tech companies like Google and Amazon have understood the value of data and putting the needs of...
It’s no secret that property managers are control freaks when it comes to their property accounting—and that’s a good thing. Setting up and keeping up a strong process supported by the right technology is key. It can be...
John Babiarz is the owner of Suffolk Property Management, which manages residential and commercial properties in the Greater Boston area. They started out as a small family-owned business with about 40 units. When Babiarz took over from his...
How do you know when it’s time to grow your business—and how can you prepare to take on more doors sustainably? Our guide, The Science of Growing Your Portfolio, explores the key challenges and opportunities that thriving property...
According to Buildium’s 2021 State of the Industry Report, almost 54 percent of community managers used social media as a means to communicate and market in 2020. It’s an often overlooked tool for PMs to engage current residents...
Property management marketing is tough work. A lot of times for property management businesses, it can take a backseat to other pressing needs. Getting the nuance just right during trying times also isn’t easy; but, at the end...