article thumbnail

How to minimize tenant turnover using online property management tools

Housing Wire

Tenant turnover happens when the current tenants move out of a rental property and the property is now vacant and it needs to be prepared for new tenants to move in. Turnover is one of the most costly aspects of the property management business, with the average turnover costing more than two thousand dollars.

article thumbnail

How AI and a changing rental market will shape property management in 2024

Housing Wire

Two complex factors are set to transform the rental market in 2024, creating new challenges and opportunities for property managers. The second is a more competitive rental market, driven by record-high construction of multifamily rental properties. At the same time, the data suggests several benefits for early adopters.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The risks of 1099 contractors in property management

Housing Wire

Multifamily property managers and owner managers face countless challenges and complexities day in and out. From resident relations and legal compliance to property takeover, both established and new property management company executives can quickly become overwhelmed handling all the moving parts required to run the company.

article thumbnail

Seize the student housing surge: A guide for property managers

Housing Wire

Growth in the off-campus student housing market creates massive opportunities for property management companies. Many property managers are looking to enter this market for the first time. Property managers must consider fundamental operational changes and take specific steps before testing this market.

article thumbnail

CubiCasa launches AI tool that creates virtual home tours in minutes

Housing Wire

The new CubiCasa Tour product will create interactive, virtual property tours within minutes. The new product uses similar software to CubiCasa’s Floor Plans, another virtual listing tool that builds floor plans in five minutes or less. Allen said that CubiCasa’s new tool is uniquely positioned to level the playing field.

Tools 467
article thumbnail

Rently CEO Merrick Lackner: The future of renting and property management

Housing Wire

Likewise with our verified renter, leasing and automation tools. For example, if you’re leading someone to your front door, intercom video functionality facilities those key few visual moments. We do the heavy lifting while allowing for human interaction at key moments.

article thumbnail

Yardi’s rent-setting software illegally drove rent prices up for millions of renters: lawsuit

Housing Wire

A renter in Seattle last week filed an antitrust class action lawsuit against 18 property management companies, along with property management company software Yardi Systems Inc., Yardi marketed its tools to rental companies as a method to “beat the market” and maximize profits.

Landlords 403