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Tag: Rental income

How to Manage Declining Rents and Thrive in Real Estate Investing

Posted on May 29, 2023

In a world where fluctuating market conditions are the norm, real estate investors and landlords often face the challenge of declining rents. While this may seem like a daunting obstacle, it is…

What To Do When Your Tenant Is Not Paying Rent

Posted on March 27, 2023

Are you a landlord trying to figure out what to do when your tenant is not paying rent? You’re not alone. Dealing with tenant non-payment of rent can be frustrating and time-consuming,…

3 Ways To Increase Cash Flow on Your Rental Property

Posted on December 8, 2022

If you’re a rental property owner, you know that cash flow is essential to your success. After all, what good is owning a property if it’s not generating income? If your property…

How to Read and Understand a Profit and Loss Statement for Rental Property

Posted on October 17, 2022

If you’re a landlord or rental property owner, it’s important to understand your business’s financials – and that includes your profit and loss (P&L) statement. A P&L statement is a key financial…

Keep Your Sanity and Your Investment: The Importance of Residential Property Management

Posted on July 6, 2022

There’s a lot of responsibility that comes with being a property manager or landlord. Between finding new tenants, collecting rent, and ensuring the property is in good condition, it can be difficult…

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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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