208.properties’ Post

Your profits are walking out the door, one vacancy at a time! Retention is the game-changer. The difference between turnover and a thriving, tight-knit community is dollars in your pocket. Want to know how we’re turning properties into places tenants never want to leave? You make your money on renewals; turnover is costly and eats into your profits. Keeping a tenant even at a below market rent is more beneficial to your NOI than a vacant unit for a month, turn costs and an increase in rent. Sense of community is the #1 factor in resident retention. Here is how you retain quality tenants and build a community – ➡ Focus on the exterior of the property and specifically the entrance. This is the perceived value factor at play. A beautiful entrance, flower beds and flags offer a warm and inviting feeling tenants want to come home too. Make sure it’s well-lit at night as well as the entire community will make them feel safe. ➡ Renovate the common areas and club house first. This shows the entire community you’re making changes and care about the property and their experience there. They will notice this immediately. ➡ Start monthly community events. Have Taco Tuesday, Movie night or a BBQ at the pool if you have one. Do something to bring the residence together to help build that sense of community. We do this at our properties, and they love it. ➡ Utilize technology. Make it easy for tenants to put in maintenance requests, pay their rent online, smart thermostats, USB outlets and keyless entry. A tech package is cheap, goes along way and you can charge a premium for it. Ready to boost your tenant retention and build a thriving community? Start by evaluating your property's exterior and common areas today, small changes can lead to big results.

According to a recent report, 75% of tenants worldwide are reporting that rising rents hurt their quality of life. Proptech solutions can help bridge that gap by boosting tenant satisfaction and loyalty through transparency, fair pricing, and enhanced community engagement. Read more: https://lnkd.in/gt2PdVRQ

"Understanding Tenant Rights and Responsibilities: A Guide for a Smooth Renting Experience" Navigating the rental market can be complex, both for tenants and property managers. Knowing your rights and responsibilities is crucial for maintaining a harmonious rental relationship. Here's a comprehensive guide to help both tenants and property managers understand and uphold these important aspects. **Tenant Rights 1. Right to a Habitable Property What It Means: Tenants have the right to live in a property that is safe, clean, and in good repair. Responsibilities: Property managers are obligated to address maintenance issues promptly and ensure the property meets health and safety standards. 2. Right to Privacy What It Means: Tenants have the right to privacy in their rental units. Responsibilities: Landlords should respect tenants' privacy and only enter the property for necessary reasons, such as repairs or inspections, with proper notice. 3. Right to Fair Treatment What It Means: Tenants are protected from discrimination based on race, religion, gender, sexual orientation, disability, or other protected classes under federal and state laws. Responsibilities: Landlords must ensure their practices comply with fair housing laws and treat all tenants equally. 4. Right to Proper Notice Before Eviction What It Means: Tenants have the right to receive proper notice and legal grounds for eviction. Responsibilities: Landlords must follow legal procedures and provide clear, documented reasons for eviction. **Tenant Responsibilities 1. Paying Rent on Time What It Means: Tenants must pay rent as agreed in the lease or rental agreement. Responsibilities: Tenants should budget and make payments on time, communicating promptly with landlords if financial difficulties arise. 2. Maintaining the Property What It Means: Tenants are responsible for keeping the property clean and in good condition, addressing minor repairs, and avoiding damage. Responsibilities: Tenants should promptly report maintenance issues and avoid causing undue wear and tear on the property. 3. Following Lease Terms What It Means: Tenants must adhere to the terms outlined in the lease or rental agreement, including restrictions on subletting, keeping pets, and making alterations. Responsibilities: Tenants should review and understand their lease agreement, following all rules and guidelines set forth by the landlord. 4. Respecting Neighbors What It Means: Tenants should maintain good relations with neighbors, avoiding disturbances and respecting shared spaces. Responsibilities: Tenants should be mindful of noise levels, adhere to community rules, and address any issues amicably. For more insights on property management and tenant relations, follow our LinkedIn page and stay updated with the latest trends and best practices in the industry!

📈 Elevate property values and attract more high-quality tenants with our advanced community features! This is what LIV’s community solutions help you with: ✅ Enhance tenant satisfaction and retention ✅ Offer tools that enrich your residents’ daily lives ✅ Foster a sense of belonging and interaction among your tenants Want to learn more about LIV’s transformative community solutions? Read our latest blog article here: https://lnkd.in/gqFyz9k5

How Technology Makes Landlords More Profitable https://lnkd.in/dCmG_nMa #LandForSale #landlord #landlordchallenges #landlordlife #landlordtips #property #propertymanagement #properties

Why is Co-Living Gaining Popularity? What are the benefits for tenants? What are the benefits for Landlords? Read on to discover why co-living is rising in popularity, and whether it is a viable solution to a prolonged affordability crisis. https://lnkd.in/e8UbDERh #affordablehousing #affordablehomes #affordability #affordableliving

Why is Co-Living Gaining Popularity? What are the benefits for tenants? What are the benefits for Landlords? Read on to discover why co-living is rising in popularity, and whether it is a viable solution to a prolonged affordability crisis. https://lnkd.in/e8UbDERh #affordablehousing #affordablehomes #affordability #affordableliving

If there is a secret way to increase the overall investment return of your real estate and lower rent on your tenant, get more qualified tenants to apply. Would you like to know it? The answer is Co-living. It addresses the affordability crisis while boosting landlord revenue. Here's the deal: Higher Density, Higher Revenue: By splitting larger units into co-living spaces, you increase the number of tenants per square foot. This means more rent overall. Market Demand: Young professionals and others priced out of city living are hungry for affordable options. Co-living fills this gap. Value-Added Services: You can offer additional services (like cleaning, Wi-Fi, and utilities) bundled into the rent, increasing revenue and tenant appeal. Community Appeal: Co-living isn't just a place to stay; it's a community. This aspect can be marketed to attract tenants seeking more than just a roof. Turnover and Management: Be warned, co-living can have higher turnover rates and requires active management. Balance these factors against the potential higher income. Structuring it right is key. Not all properties are a good fit for a Co-living model. Think about tenant compatibility, quality of life, and maintaining a balance between privacy and community. Get these right, and you're looking at a win-win in the real estate game. ~~~ If you find this useful, consider resharing ♻️ and follow me for more insights like this.

It's #landlordingtip Thursday with Lucrative Landlording! 📌🔑🏠 This week's focus: Tenant resources Offering valuable resources to your tenants goes beyond just complying with local requirements. It demonstrates care, fosters trust, and ultimately contributes to a positive living experience for everyone involved. Here's how providing tenant resources can benefit you and your tenants: ⭐Access to information helps tenants fulfill their responsibilities, understand their rights, and find solutions easily. ⭐ Sharing information improves lives by providing comfort and knowledge. ⭐Providing resources relevant to the local community demonstrates your commitment to their well-being and fosters a sense of belonging. 🔑Providing tenant resources is a continuous process. Regularly review and update information, adapt to changing needs, and welcome feedback. ✨✨✨Share your tips on how you were able to adapt to a sudden change in your business in the comments below! ✨✨✨ Keep Moving Forward⏩💫 I Believe In You💖 #LandlordLife #RealEstate #Success #Adaptability #LucrativeLandlording

"🏠 As a landlord, it’s more important than ever to get capable tenants in your property. Diverse Nation is the capable tenant you've been looking for. We rent property long-term and typically above market rates, do not charge fees, and remove landlord hassle as a priority – we enable you to feel free, empowered, and back in control of your property. Diverse Nation aims to be the most straightforward and most profitable tenant you’ve ever had. Having spoken to many landlords, we know that you have questions about renting to us. Below is our response to one of those questions: Q: Will I be responsible for furnishing the property? A: No. We furnish and style the property to ensure it is neuroinclusive. If your property is furnished, we can help to find somewhere to safely and securely store them. Ready to ditch the hassle and regain control of your property investment? Send me a direct message or comment below to receive our free landlord brochure that gives you information on Diverse Nation and the easy 3-step process to renting to us. #DiverseNation #StayDiverse #neurodiversity #neurodiverse #diversityequityinclusion #servicedaccommodation #adhdtips #landlordtenant #staycation #landlords"