Posted on 02. Sep, 2015 by Rachel Jefferson.
Apartment supply is increasing for the year of 2015. Axiometrics.com found that the increasing new supply of apartments are being steadily occupied by American renters. By the end of 2015, there is an expected quarter of a million units to be available. Texas, Colorado and New York are just a few of the states delivering […]
Posted on 28. Aug, 2015 by Jamie Sternberg.
California law provides a framework for California tenants to request permission from their landlords to install electric vehicle charging stations. AB 2565 added new Civil Code §§1947.6 (residential tenancies) and 1952.7 (commercial tenancies). A summary of the law is below. The full text of these code sections is included at the end of this article. […]
Posted on 28. Aug, 2015 by Rachel Jefferson.
To save money on renters insurance, it’s necessary to install certain safety upgrades. Zillow.com explains how likely is it for a damage to happen within a rented space. In 2013, there were more than 1.24 million fires, resulting in billions worth of property damage. And not only should renters be weary of fire damages, but […]
Posted on 27. Aug, 2015 by Rachel Jefferson.
The number of Millennials represents almost 50 percent of home buyers, yet the number of Millennials in the real estate workforce is tiny by comparison. In this article, Inman shares three tips to learning more about and how to connect with this influential generation. And these tips easily translate to property managers who are looking to bring in […]
Posted on 25. Aug, 2015 by Marc Courtenay.
In today’s housing market there are some unmistakable trends that I’ve commented on in recent articles. The number of owner-occupied dwellings is dropping while rental vacancies are vanishing. Put another way, recent data from varying sources—including the Census Bureau—verifies that vacancy rates have fallen to a 30-year low. Residents are finding fewer choices available to rent than […]
Posted on 21. Aug, 2015 by Rachel Jefferson.
A “Smart House” with technology-based features is a popular request from renters. But there are pros and cons property managers should consider before installing modern pieces onto their property. While installing technology-based security systems can provide a positive return, investing in the installation of a $11,000 coffee maker may not be your best possible investment. Read […]
Posted on 19. Aug, 2015 by Rachel Jefferson.
If you’re considering buying a property to rent out, you’re on the right track. Owning and renting a property can benefit the property owner and the property itself. There are several steps in accomplishing this, from creating positive cash flow to receiving tax benefits for owning a rental property. These are just two of the […]
Posted on 18. Aug, 2015 by Marc Courtenay.
There is nothing fun about the eviction process. However, when a resident stops paying rent or becomes a problem tenant, appropriate action must be taken. But property managers can turn this frustrating process into a growth opportunity to find new owners. You might also discover potential clients that are ready to sell their “headache” properties. Turn the stress of […]
Posted on 17. Aug, 2015 by Rachel Jefferson.
The US economy is slowly getting back on track, as the unemployment rate has been steadily decreasing since 2014. The number of unemployed has decreased by 1.38 million since June 2014, according to a study done by Axiometrics. While this past July’s unemployment percentages aren’t as promising as those of June or May, the overall […]
Posted on 17. Aug, 2015 by Rachel Jefferson.
Depending on the generation, certain wants and needs for a new home differ. A recent article reveals the difference in apartment-searching patterns, from Millennials to Gen Xers to baby boomers to the Silent Generation. For example, being in a quiet neighborhood is a must for one generation, while another age group cares more for the availability […]
Posted on 12. Aug, 2015 by Rachel Jefferson.
Texas is known to have one of the most consistently successful economies in the country. But, cities in Texas that depend on oil prices have had difficulty recently. Axiometrics reports how 23,000 jobs related to oil have been lost in cities like Houston and Odessa. This leads to a loss in renters. While these cities are suffering, […]
Posted on 10. Aug, 2015 by Rachel Jefferson.
What they don’t know won’t hurt them, right? That’s how one property in Los Angeles felt, with forty percent of residents keeping a pet in their apartment, even though it was against the rules. Property managers all over the country are starting to realize that they need to rethink their “No Pets Allowed” rule, or renters won’t be renewing their leases. […]
Posted on 07. Aug, 2015 by Marc Courtenay.
Recent reports of a robust recovery in the construction and sales of single-family homes are eclipsed by stories of a boom in higher-density, multifamily complexes. Even publicly traded homebuilders are seeing their share prices soar to heights last seen well before the Crash of 2008. D.R. Horton (DHI), the largest publicly-traded homebuilding company recently reported […]
Posted on 06. Aug, 2015 by Rachel Jefferson.
In an effort to curb water usage in drought-stricken California, the California affordable housing nonprofit Chinatown Community Development Center (CDC) is going straight to the source: residents. Because capital improvements only go so far, they set up an educational program to teach residents about water conservation and started a little friendly competition. Read more on Mulifamily Executive
Posted on 04. Aug, 2015 by Aimee Miller.
Maintaining resident relations is a key factor to successful property management; but, it can be hard keeping clients happy when you are managing multiple properties and juggling various responsibilities. How do you keep track of one individual’s needs in a sea of many? How do you improve tenant relations so that your renewal rates can continue […]
Posted on 04. Aug, 2015 by Mary Girsch-Bock.
Security deposits continue to present a very unique set of problems for both property managers and staff alike. Property management companies large and small continue to struggle with this very routine task and often lose money in the process. The following is an example of security deposit mismanagement and the associated repercussions experienced by the […]
Posted on 30. Jul, 2015 by Rachel Jefferson.
Las Vegas is not only prosperous in Blackjack and poker tables, but also in growing housing demand and increasing employment. Where annual effective rent growth has more than doubled in the last year, Vegas has a healthy occupancy of 94.4 percent. The city is also successful in its job growth rate, as it is above the national average of 2.1 […]
Posted on 29. Jul, 2015 by Rachel Jefferson.
In a new study released by the US Census Bureau, it was found that home ownership has dropped to 63.4 percent, the lowest it has been since 1967. Some economists attribute it to the real estate market crash of 2008, others blame it on wage growth and mortgage standards failing to keep up with rapidly […]
Posted on 28. Jul, 2015 by Marc Courtenay.
Just when we thought housing prices may cool down, a new sign of a housing “bubble” has emerged. This combined with a June surge in U.S. home construction has property managers paying attention. Other bubbles that directly relate to the property management business include rental rates, which moved 3% higher in June on a year-over-year […]
Posted on 22. Jul, 2015 by Rachel Jefferson.
While blogging is important, there are other unique ways to share great content and engage with your clients and renters, including things like quizzes, text messaging, and Pinterest boards. In this recent post from Inman, they outline 12 creative ideas for getting your messages out there. Get the 12 tips.
Posted on 21. Jul, 2015 by Marc Courtenay.
It’s been one year since my article urging property managers to “Get Yelp for Your Property Management Business.” Hopefully you heeded my suggestions and are reaping good results, because when used effectively and consistently, Yelp brings attention to any business that is customer-centric. If your marketing and management efforts are successful, the world will know […]
Posted on 16. Jul, 2015 by Mary Girsch-Bock.
If you’ve considered offering corporate or short-term housing, you’re not alone. With property management costs steadily rising, property managers across the U.S. are looking for a reliable funding stream. With a significant increase in business travel and employee relocation, corporate housing is often suggested as a viable way to increase revenue. It’s no secret that […]
Posted on 15. Jul, 2015 by Rachel Jefferson.
Buying a house can be a long process that many people forgo in an effort to save money, but new information shows that it can actually be cheaper in some cities to buy instead of rent. Real estate information company Realtytrac released a report finding that “making monthly house payments on a 3-bedroom property is […]
Posted on 13. Jul, 2015 by Rachel Jefferson.
To be successful on social media, you need to build up a strong following and write clear, compelling content. In a recent article from Inman titled “5 Methods to Tweet Your Way to Online Real Estate Success,” Digital Marketer Lucie Simpson shares examples of using Twitter right. It’s an essential tool for property managers in connecting with current […]