As a homeowner, you know that preventative maintenance is essential to keeping your property in good condition — and it’s even more important when you own or manage a rental property. Your tenants can’t be expected to stay on top of all the home repair and maintenance tasks, so there are several items you should check off your rental management to-do list before winter sets in (even if your rental is in a warmer part of the country).
When to raise rent is a question many landlords ask themselves. Sometimes it comes up when a tenant leaves. Other times it comes up when a landlord gets an increase in taxes or insurance. Rents have been increasing and it is a great time to be a landlord. In fact, landlords have been enjoying some of the fastest growth in rental rates in recent history. But you want to be aware there is a cap to that growth and we have begun to see this in some markets already.Rental demand has continued to remain very strong, which allows landlords to be bullish on rental rates.
Greetings, everyone! Thanksgiving is a blessing in disguise. With your friends and family near, make this day as special as you can and thank them with your heart. May you have a wonderful time this season! Happy Thanksgiving!
As property managers and owners you want to know what keeps tenants happy. And what keeps them around and also what can set you apart from the competition. This article will help you in your rental housing business. A new survey designed to help property managers and owners gain insight into what tenants care about the most in their apartments shows insight on:
- What will they pay more for?
- What drives them crazy?
- What makes them happy?
- What makes them sign a lease or renew a lease?
- What makes them move on from a property?
Now that Donald Trump baffled most of the pundits to secure the U.S. presidency, a host of people from different industries are beginning to study how the Trump administration’s policies will affect them and the overall U.S. economy over the next four years and beyond.
Those in the apartment industry are trying to get a beat on how the economy might look, with its effects on the U.S. job market and the atmosphere for investments. Jobs are sure to be a focal point, as one major factor in Trump’s victory was that his message about job creation resonated with blue-collar workers in the Rust Belt who have voted Democratic in the past.
Renters who are strangers and yet will be roommates can present a challenge for leasing apartments.
Here are 4 safeguards to consider when renting to these types of occupants.
While individual renter households represent the highest volume growth since 2007, non-family roommate renter households have grown at almost twice the pace, or 2.9 percent over the same period, according to recent Axiometrics data.
That’s an increase of 20.7 million “non-family” households consisting of either one person or two or more roommates, representing growth of 330,000 people per year sharing apartment homes – and potentially a lot of hassle for communities that don’t have clear policies in place.
The company speculates that the construction labor workforce may constrict given the President-elect's immigration stances.
- - Zillow predicts 2017 will mark a new stage of the post-recession housing recovery and the company expects recent trends to reverse course next year.
- - New-home buyers could face increased building costs if President-elect Trump follows through on his tougher immigration policies, which may worsen the construction industry labor shortage, according to the company.
- - Zillow also anticipates continued but slowed home price growth (3.6 percent over the year), decelerated rent prices, homeowners seeking affordable housing further from urban centers, and an increased homeownership rate driven by millennial buyers.
Each year around this time, the industry tries to gauge where we are headed in the next year. Will this be a groundbreaking year in property management, or business as usual? While it’s hard to make concrete predictions, one thing is certain: Technology will have a major impact on the way property managers do their job and engage with renters, real estate agents and maintenance teams — more than ever before.
Here are three predictions about how technology will change your job in 2017.
For many people, being a landlord is a rewarding and profitable experience, but if you are new to the rental real estate business, you might have discovered that managing a rental property is not a simple endeavor. Taking the time to gain a basic understanding of some key landlord responsibilities, property marketing tactics and areas of the law will go a long way in helping you find (and keep) a tenant, effectively manage your rental and avoid the most common landlord mistakes.
In this guide, we’ve compiled several tips for new landlords to help you succeed and get the most out of your real estate investment.