Property Management News

Why do photos matter? Higher rent, better tenants. Great photographs are more than just aesthetically pleasing—they increase online clicks, bringing you more potential tenants. In some cases, excellent photos even let you demand a higher rent. This is two-fold: You can list the property with 2-5% higher rent than comparables. This is especially true at the low-end of the market ($1,500-$3,000) where few listings have good photos. Tenants in this range are dying to find something nice, and often willing to tour a slightly more expensive place based on the photographs Better photos → more clicks → more applicants → more offers which creates a real bidding war There is another,... Read more

‘At Lease’ is a term commonly used in commercial real estate, particularly in the multifamily sector. It is important to understand what this term means, as it can indicate the status of a property and whether it is available for lease or not. Essentially, ‘At Lease’ means that the property is in the process of being leased to a prospective tenant, and the deal is almost finalized. There are several types of leases in multifamily real estate, and each one has its own set of terms and conditions. Some of the key terms in a multifamily lease agreement include the length of the lease, the rent amount, security deposit, and renewal options. When making an offer on an... Read more