Property management success is driven by continuous tenant retention and attraction. In some cases, you’ll have to make way for rent concessions to retain a percentage of residents. Thus, it is important to understand what a rent concession is. It is a benefit or discount offered to entice and persuade people to sign or renew…
Real Estate Investing & Rental Management
How to Hire a Property Manager in 8 Steps
Investors benefit from hiring a property manager to handle maintenance and daily responsibilities, allowing them to focus on more investments and personal interests. When learning how to hire a property manager, it’s essential to define your needs and budget. You must also thoroughly research possible candidates—including their personality, experience, and communication skills—to identify a compatible…
RentRedi Review: Is It Right for Your Real Estate Business?
RentRedi is a property management platform that offers a comprehensive solution for landlords and property managers. The platform has earned a 4.23 out of 5 rating as one of our top property management companies for small businesses. This rating was determined by examining the platform’s pricing structure, ease of use, help and support offered, and…
TurboTenant Review: Is It Right for Your Business?
TurboTenant is a free property management tool and one of our best tenant screening services for landlords earning a rating of 4.59 out of 5. We arrived at this score based on weighted factors essential to tenant screening, like ease of use, help and support, customer support, and features like rental listing management, finance tracker,…
How to Evict a Tenant in 7 Steps (+ Free Quit Notices)
Learning how to evict a tenant requires extensive research and understanding of the eviction process and laws. Landlords must follow the proper steps on how to evict someone from their property and have legal grounds to conduct eviction, such as tenants failing to pay rent or causing property damage. If landlords do not act quickly…
What Does a Property Manager Do? Duties, Costs & When to Hire
Property managers handle residential and commercial real estate for property owners and investors. Their duties encompass a variety of property management, maintenance, tenant selection, and rent collection tasks. However, the specific responsibilities of a property manager depend on property type, contract terms, and compensation. On average, property managers cost from 8% to 12% of the…
TenantCloud Review: Is It Right for Your Real Estate Business?
TenantCloud is a property management software that enables landlords to collect rent, store information, screen tenants, and manage communications. It’s one of our best online rent payment services, earning 4.95 out of 5. We arrived at this high score based on seven weighted criteria, including ease of use, pricing, customer reviews, and features, such as…
How to Write a Rent Increase Letter + Free Template
While raising the rent price at your properties periodically is often necessary to make the most of your investment, informing your tenants can be difficult. All landlords need a professional and friendly rent increase letter template they can use to make rent changes. The letter should include all pertinent information like contact information, price changes,…