Property management software news, views and industry trends
What is condition-based maintenance?
Condition-based maintenance is an advanced approach that relies on real-time data to keep your equipment running smoothly. By continuously monitoring asset performance, you can predict when maintenance is needed, reducing downtime and preventing cost…
Levels of service in asset management
Understanding the intricacies of asset management is crucial for maintaining and enhancing the value of your assets. A pivotal aspect of effective asset management is the concept of levels of service, which serve as a cornerstone for strategic planni…
Why is facilities management important in the hospitality industry?
Facilities management plays a critical role in the hospitality industry, ensuring that properties run smoothly, guests are satisfied, and operations remain cost-effective. From maintaining essential systems to managing guest services, the functions o…
REIT vs real estate crowdfunding: An investor’s perspective
As an investor, the idea of earning a steady monthly income from rental properties can be very appealing. However, real estate investing comes with challenges. You’ll need to manage maintenance costs, deal with tenants, pay taxes, and handle other fi…
Roles and responsibilities of condo boards vs. property managers: Key differences
The world of multifamily property management can be challenging without understanding the responsibilities of a condo board vs property manager. With over 70% of U.S. households living in communities governed by condo associations, their efficiency d…
What is effective gross income: A landlord’s guide to boosting profitability in multifamily properties
Effective Gross Income (EGI) is a crucial metric for landlords and property managers in multifamily real estate, offering a clear picture of a property’s financial health. Representing the total income generated by a property after accounting f…
What is a good cap rate for multifamily investing?
When investing in multifamily properties, understanding the concept of cap rates is crucial. Cap rates, or capitalization rates, are essential metrics that help you evaluate the potential returns on your investments and make informed decisions. But w…
How to value multifamily property
In the fast-paced world of real estate, knowing how to value a multifamily property is essential for landlords and property managers. Did you know that multifamily properties accounted for over 30% of all real estate investments in the past year? Wit…