Flex’s Post

Great article on factors driving renter satisfaction and retention such as maintenance, communications, and digitizing payments being critical. Read more in the latest Journal of Property Management, https://lnkd.in/geDXhXNq

Your rent roll is a powerful tool that can reveal potential issues in your property management process. 🚨 Watch out for these red flags! A drop in occupancy rates can mean there are problems, such as tenants leaving, more competition, or maintenance issues, If your profits drop, find out why. Late payments can mean that tenants are struggling financially. You may need to set stricter payment rules or communicate better. High turnover rates can be caused by tenant dissatisfaction, poor property conditions or management issues. They increase costs and reduce profits. Notice any of these rent roll red flags? 🧐 Don't wait—join our Know Your Rent Roll Statistics Masterclass to learn how to tackle them before they become bigger issues! https://lnkd.in/g2KmPbZN #PropertyManagement #RentRoll #RealEstate #TenantRetention #LandlordTips

Do you use Realpage at your sites? Let's connect on this exciting new announcement and what it means for you and your renters!

As a property owner, unexpected expenses may be difficult to cover unless you have carefully built up a savings fund. Replacements and major repairs cost more than any single month's profit margins. Read my latest blog on how to best plan financially for the unexpected. https://lnkd.in/eNyaMAHv #realestateinvesting #propertymanagement

Are you making one of these seven deadly mistakes in your rent collection process? Today on the Flex blog, we break down the common rent collection traps that property managers can fall into and how to avoid them: https://lnkd.in/ep-NkRzp

Boost Your Property's Net Operating Income: A Guide to Maximizing Profit "In a world of softening rental markets and rising utilities, cost recovery is essential to your bottom line. As a Property Owner/Manager, protecting your bottom line – your net operating income (NOI) – is more crucial than ever. But don't worry, here at Livable we've got you covered with proven best practices to boost your NOI and keep your property generating maximal profit. We know that softening rental markets and rising utilities feels daunting, but they don't have to eat away at your profits. Here is our list of best practices for saving for your bottom line." Continue reading...https://hubs.la/Q02JqJRW0

Do not mess this up if you want to invest in real estate in 2024… ‼️ And make sure to hit save on this post! Thinking of becoming a real estate investor this year? It's a fantastic way to build wealth, but there's more to consider than just the monthly rent. Here are some hidden costs to factor in for informed decisions and success: 1. You make money when you buy real estate Ensure your property withstands tough times for maximum returns. 2. Property Management Imagine vacation time. A good short-term rental property manager handles tasks for a fee (typically 8-10% of monthly rent). Property management frees up your time, but it's optional. You can manage the property yourself, handling tenant calls and repairs. 3. Vacancy Buffer Life happens. Allocate 5-8% of monthly rent to cover vacancy periods. 4. Budgeting for Big Fixes Everything has a lifespan. Budget 3-5% of monthly rent for future major repairs. I highly recommend banking with @relayfi & using @profit first method for this. 5. Keeping Up with Small Repairs Clogged toilets, dripping faucets. Set aside 5-8% of monthly rent for ongoing maintenance. The best part about owning short term rentals is that you have professional cleaners in your property every turn so they keep an eye on these things & make sure they don't add up! Factor in ALL these expenses when analyzing potential properties! This gives you a clearer picture of the true ownership cost and helps you make smarter investment decisions. P.S. Want to learn more about real estate investing and avoid costly mistakes? Just send me a direct message with "INVEST". #cashflow #biggerpockets #lattesandleases #realestate #investing #investor #rental #rentalproperty #rentals #realestatetips #realestatemarket #realestateadvice #realestateinvesting #realestateinvestor #investinrealestate #deal #passiveincome #realestatelife #realestatetipsoftheday

When it comes to real estate investments, one of the most critical decisions investors face is choosing between short-term rentals and long-term leases. Read more on the article below: https://lnkd.in/dunHtmFw #winstonfield #rentalproperty #shorttermrental #LongTermLease #profit #realestate #article #propertydeveloper

🏘️ Property Managers: Is Late Rent Disrupting Your Cash Flow? Key strategies from our guide: -Crafting effective late rent notices -Navigating state-specific grace periods -Implementing proactive rent collection systems -Leveraging technology for seamless payments Discover how to turn late rent nightmares into steady income streams. #PropertyManagement #RentCollection #RealEstateInvesting

Boost Your Property's Net Operating Income: A Guide to Maximizing Profit "In a world of softening rental markets and rising utilities, cost recovery is essential to your bottom line. As a Property Owner/Manager, protecting your bottom line – your net operating income (NOI) – is more crucial than ever. But don't worry, here at Livable we've got you covered with proven best practices to boost your NOI and keep your property generating maximal profit. We know that softening rental markets and rising utilities feels daunting, but they don't have to eat away at your profits. Here is our list of best practices for saving for your bottom line." Continue reading...https://hubs.la/Q02JqLWc0