Fire damage to your rental property can come with devastating consequences. Without the right insurance, you will be left to deal with the financial strain of repairs and the loss of rental income alone. Having insurance is a must for multifamily property management, but it’s key to choose the right kind for your needs to ensure you are fully covered in case of a fire. Should you go with landlord insurance, or is a dwelling fire policy a better fit for what your property requires? Deciding correctly could mean avoiding unnecessary costs and keeping your investment safe. In this guide, we’ll e ..read more

Effective multifamily property management means having a strategy for any event, including fires. When a fire happens by accident, it’s not always clear who should pay for the damage. Since no one meant for it to happen, figuring out if you or your tenant is responsible for covering the costs can be tricky. In this guide, we explain who is responsible for accidental fire damage. You’ll find out what you and your tenants need to do if you ever face such an unfortunate situation. Where do the responsibilities of fire damage lay? Determining who is responsible for accidental fire damage to renta ..read more

As trees burst into green and frost is replaced by dew, spring brings the promise of a fresh start. For landlords and property managers, this season is the perfect opportunity for essential property maintenance tasks. After the winter months, taking proactive steps to inspect and repair your properties can prevent major issues and ensure they are ready for the warmer months ahead. With so many potential areas needing your attention, knowing what to focus your time and resources on can be challenging. This spring home maintenance checklist will guide you through essential interior and exterior ..read more

If your tenants are hearing strange scratching noises in the roof, discovering unexplained holes in their food packaging, and noticing frayed electrical cables, these are clear signs you’re facing a rodent infestation. A rodent infestation is a major problem, especially in multifamily property management. Rodents pose health risks to tenants by spreading diseases and can cause damage to the property’s infrastructure, including electrical wiring and building materials. This type of infestation can easily spread across multiple units, to widespread tenant dissatisfaction and safety concerns. De ..read more

Imagine you receive the dreaded phone call that a fire has erupted in one of your rental units. Everyone is safe, but the property has suffered from significant damage. This is the scenario no landlord or property manager ever wants to encounter, yet it’s an essential aspect of multifamily property management to be prepared for. Landlord insurance offers a safety net for your rental properties, protecting you against the costs of unforeseen circumstances. But does landlords insurance cover fire damage? In this guide, we’ll take you through what determines whether your insurance will cover fir ..read more

Picture this scenario: one of your tenants is cooking dinner when suddenly the pot on the stove bursts into flames. A fire extinguisher is nearby, allowing them to quickly extinguish the fire and avoid any devastating consequences. Having fire extinguishers in your multifamily property can mean the difference between a minor inconvenience and a major disaster. They allow tenants to respond to fire emergencies swiftly and effectively. But are fire extinguishers required in rental properties? The answer varies by location, but the importance of these safety tools is undeniable. In this guide, w ..read more

In this article, we will discover the essential components of building operations, exploring its significance in ensuring efficiency, safety, and functionality within properties. From the systems that regulate temperature and air quality to the protocols that safeguard against emergencies, it’s important to understand the core elements that underpin the smooth operation of buildings. We will also explore how effective management, maintenance, and innovation converge to create spaces that not only meet the needs of their occupants but also pave the way for sustainable, resilient, and thriving ..read more

In this post, we explore the pivotal role of hard services in facilities management, a key component in maintaining the infrastructure and operational integrity of properties. Understanding what hard services in facilities management are, from heating and air conditioning systems to electrical maintenance, is essential for ensuring a building’s continual functionality and safety. Software solutions such as Computer-Aided Facility Management (CAFM) and facilities management software are designed to streamline these tasks. They provide facility managers with the tools necessary t ..read more

In this article we explore what soft services in facilities management entail, focusing on the aspects that enhance the day-to-day experience within a building. Soft services include such things as cleaning, security and landscaping, all of which play a crucial role in maintaining a welcoming and functional environment, critical for the satisfaction of occupants and visitors alike. Software solutions including CAFM (Computer-Aided Facility Management) and facilities management software can streamline these services, ensuring they are executed efficiently and effectively, w ..read more

Including Microsoft Excel in your lease accounting workflow may seem like the simplest or most practical way to manage simple accounting tasks. And it would be – if the business landscape never changed. While Excel can be a great starting point, it can’t keep up with the real estate market – especially for retailers. As your business adapts to new market conditions and management processes get more complex, the risk of broken formulas, incorrect data, and lost files increases. Leasing commercial space is a cornerstone of the retail business model. Lease terms directly affect your balance shee ..read more