An increasing number of property managers, from residential and multifamily, to short and long-term rentals, are investigating the benefits of smart home technology to automate their properties. They want what others are realizing; greater convenience and safety for their residents and guests, and more efficient operations and lower costs for their management company. But it doesn’t take long for smart-shopping…
Anyone who loves skiing or snowboarding is likely to head to the mountains in the upcoming months to relax and enjoy the winter sports. That means that smart homeowners and investors will take the time to review the amenities in their winter vacation rental property before these vacationing guests arrive. Winter vacation rental properties can be great investments depending on…
The home and vacation rental property industries are fraught with con artists and scammers. One of the most common cases of rental fraud happens when scammers copy photos and descriptions of real properties, post them online and demand an upfront deposit from the victim. After getting the money, the scammers disappear. Cases like this are constantly making their way into…
No matter how secure your neighborhood feels, leaving your home alone while you’re traveling may come with a touch of anxiety. After all, the most recent FBI statistics on property crime reveal the following: More than 7 million property crime offenses happened in the United States in 2018. The rate of property crime was almost 2,200 per 100,000 inhabitants in…
Economic recessions come and go—every 4.7 years by some estimates—and that means we’re overdue for a financial meltdown, as this quote from a January 2020 Forbes article indicates: “While it remains unclear whether a recession will indeed occur and, if so, how significantly economic conditions will deteriorate, businesses are preparing for a potential downturn in the next 12 months,” [the consulting firm Grant…
Occupancy rate is a key performance indicator (KPI) for the hotel and vacation rental property industries. Property managers use this indicator to measure the health and performance of their businesses. Calculating your occupancy rate for a given period of time is as simple as dividing the number of units available by the number of units occupied. However, there’s a little…
Managing a single property requires a great deal of time and attention to detail. You need to watch for leaky faucets, pipe-freezing temperatures, HVAC maintenance issues and a whole lot more. Moreover, if you spot a problem, it requires even more time to meet repair people at your home. A smart home system can relieve many of these burdens, but…
Hurricanes and overflowing rivers are not the biggest flooding threats to your home. The most common causes of water damage come from the inside. Broken pipes and leaking appliances cause 14,000 water damage emergencies throughout the United States every year. On average, these emergencies cost the property owner $7,000 each in repairs. If a water damage emergency happens at your home, apartment—or a rental…
As the world has come to rely increasingly on technology, everything has shifted to reflect that focus, including criminal activity. Hardly a month goes by without news of a new hacking incident in which criminals accessed the private information of consumers. This is particularly an issue given the vast numbers of interrelated computing devices on the market today. California is…
When choosing a short-term rental (STR), people tend to look carefully at location, amenities and price. But don’t forget personal safety, and we’re talking about more than a lock on the door. Think of the safety devices you’ve installed at your own house—like smoke and carbon dioxide (CO) alarms. While they are required in many states for regular rental properties,…
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