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Tag: Financial reporting

9 Benefits of Using a Property Management Company

Posted on January 5, 2023

Are you considering hiring a property management company to oversee your rental properties? There are lots of benefits to using a professional, experienced property manager. From streamlining the rental process and increasing…

What to Expect When You Hire a Professional Property Management Company

Posted on November 3, 2022

Rental properties can be a great source of passive income. But being a landlord comes with a lot of responsibilities—responsibilities that many people simply don’t have the time or energy to take…

How Commercial Property Management Companies Can Improve Your Business

Posted on July 19, 2022

Commercial property management companies can be a great resource for landlords and commercial real estate investors. They can help you improve your business by taking care of all the day-to-day tasks of…

Managing Your Property: The Basics of Rental Property Accounting

Posted on July 13, 2022

As a landlord, property manager, or real estate investor, it’s important to understand the basics of real estate accounting. In this post, we’ll talk about what goes into your income and expense…

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Basic Property Management provides owners and managers of rental property with the tips, tools, and techniques they need to be successful. We provide articles on a variety of topics, including how to find and screen tenants, how to negotiate leases, and how to handle repairs and maintenance. We also offer a directory of property management services and resources, so you can find everything you need in one place.

Residential

Residential real estate property management is the process of overseeing and renting out residential properties. This type of property management is different from commercial property management in a few key ways. First, residential properties are usually smaller in scale than commercial properties. Additionally, residential property managers typically work with individual tenants rather than with businesses. Finally, the leasing terms for residential rentals are usually shorter than those for commercial rentals. As a result, residential property managers must be skilled at handling a variety of tasks, from marketing and advertising vacant units to collecting rent and dealing with maintenance issues.

Commercial

Commercial real estate property management is different from residential property management in a few key ways. For one, commercial properties tend to be much larger than residential ones, so the management team has to be able to handle a larger volume of tenants. Additionally, commercial leases are usually much longer than residential leases, so the manager needs to be prepared for a longer-term commitment. Finally, commercial properties tend to have more complex financial arrangements and regulations that need to be followed. As a result, it takes a different set of skills and knowledge to effectively manage a commercial property.

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