Bookkeeping Tips for New Landlords Managing expenses, receipts, payables, payments, and tax reports is a slightly, unappreciated and neglected task for all small business owners. Getting organized about how you manage your books has many benefits. For property management startups, good bookkeeping is a good habit underpinning a viable, sustainable company. Property managers may learn…
Increase Profit Margins The purpose of any business including a property management business is to earn a good profit. It's the number one goal of property managers according to surveys and whether through efficiency, revenue increases or scaling up with new accounts, you'll find plenty of ways to make your business more profitable if you're…
Reduce Churn and Turnover Costs Have you calculated how much revenue you've lost due to tenant churn over the years? Some landlords and property manages do have systems to report these losses, but how many are resolving losses from churn? In some states and cities, the issue of tenant turnover is a current matter. With…
Rental Unit Turnover and Tenant Churn Now in 2022, we're seeing higher rental apartment and house rental churn rates because people are moving for new employment, lower rents, and making other post pandemic adjustments. Property managers might feel powerless to reduce that occurrence and control the losses for landlord owners. Having to renovate and remodel…
Biggest Mistakes Landlords Make "If only I'd known then what I know now." That's what too many landlords utter when they're struggling to keep afloat, facing weighty financial challenges, and looking for ways to improve their profits. When we cover the topic of the most costly landlord mistakes, it's not insinuating, but rather just…
Survey Shows What's Behind Tenant Churn Inner-city landlords in the US, UK, Australia and Germany are seeing higher vacancies and reduced rents as renters flee the cities for more space in suburbs and other small cities and towns. A desire for lower rents and more spacious living is encouraging many tenants to decide not to renew their apartment…
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