Following several years of significant growth, 2023 marked a cooldown in the rental market. With demand leveling out and inflation rising, rent price increases have declined since their peak in February 2022. High mortgage rates, elevated prices, and economic uncertainty have made investors more reluctant to acquire new properties. Since the pandemic, the rental market …
Coming Rental Market Trends in 2024
Rentals America Surpasses 450,000 Meals Donated
Our charitable initiative, Rentals America Cares, focuses on supporting food and sheltering programs for those in need. We’re pleased to announce that we’ve now surpassed 450,000 meals donated. A big THANK YOU to our customers and clients for all of their support and confidence. If you would like to donate or learn more about Feeding …
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Setting Real Estate Goals for 2024
With a new year rounding the bend, it’s time to prepare your rental property business for 2024! Begin by assessing what went well in 2023 and where there was room for improvement; then adjust your plans accordingly. Every landlord’s goals will vary based on his location, unit types, intended tenure at a given property, and …
Source of Income is Now a Protected Class in Tempe, Arizona
As of December 30th, 2023, Source of Income will now be a protected class in Tempe, Arizona joining the City of Phoenix and the City of Tucson. This means that a Tempe property owner cannot have blanket prohibitions against residents based solely upon where their funds for rent come from, such as Section 8 or …
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Communicating with Tenants Who Speak a Different Language
From the initial application to the move-out walkthrough, a landlord’s ability to communicate well with renters greatly influences a successful tenancy. But what if an applicant speaks a different language? How can a landlord and tenant agree on rental terms, resolve maintenance issues, and share concerns or changes if they can’t understand each other? Entering …
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What Landlords Need to Know about Low-Income Housing Investments
Affordable housing should provide safe living spaces for people with limited income. Low-income accommodations are always in demand, especially in an economy where costs are rising, and incomes are struggling to keep up. Owning a property dedicated to low-income housing can benefit your real estate business and the surrounding community. But what do landlords considering …
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How Should Landlords Deal with Unpleasant Neighbors?
Your rental unit is pristine, the price is fair, and you offer the latest amenities. There’s only one problem: the neighbors. Potential tenants often consider the community’s general “feel” in addition to the rental unit’s specifications. A neighbor who throws disruptive parties, owns a ferocious dog, or neglects his lawn can drag down a whole …
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Avoiding Common Lease Agreement Mistakes
A lease agreement is critical to any landlord’s rental property investment. It entitles a tenant to pay a fee for inhabiting a unit while defining each party’s rights and obligations. Beyond being a mere formality, a lease agreement is a binding contract that protects both landlord and tenant when questions arise, or something goes wrong. …
Pros and Cons of Owning Rental Property with a Pool
For many people, taking a dip in a pool is the ideal way to enjoy hot, sunny weather. Whether for relaxation, exercise, or fun, spending time in the water is a luxury many homeowners and renters seek. Consequently, a property with a pool can be a profitable investment, but there are downsides, as well. The …
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Book Review: 50 Real Estate Investing Calculations
Every landlord quickly learns that real estate investment involves many financial considerations. Whether you’re considering a new investment, comparing properties, preparing taxes, or determining rent increases, knowing financial terms and equations is critical. Fortunately, this book can help! In 50 Real Estate Investing Calculations: Cash Flow, IRR, Value, Profit, Equity, Income, ROI, Depreciation, More, author …
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