A Growing Number of Millennials Are Entering the Housing Market Studies show that millennials (people ages 18-35) are making up an increasing share of the home buying market, particularly in suburban areas. A survey shows that 65% of the respondents are renting because of cost and financial circumstances. However, more of these millennials are starting families. Although 65% of this group is...
Federal Reserve Hikes Rates The Federal Reserve bumped rates by 25 basis points to between 0.50% and 0.75%, and are guided toward more rate hikes in the year 2017. Real estate economists are predicting a modest increase in home sale growth, but not as much as 2016. A mixture of caution and enthusiasm are advised in taking on the new year. Read about it in detail HERE. Budget Friendly DIY...
How Trump’s Presidency Could Impact Real Estate Markets After the recent election investors are curious about how Trump’s Presidency will affect real estate. Based on his current values there will no doubt be a short-term stimulus to the economy. A combination of tax cuts and government spending in the form of upgrading nation’s infrastructure and for national defense will provide a...
How a 28-Year-Old Plans to Upend the $81 Trillion Global Real Estate Investment Market In 2014 Ryan Williams founded Cadre now, Williams and friend, alongside a slew of a-list investors who have plowed $68.3 million into Cadre. Today, Cadre is an invitation-only platform that directly connects high-net-worth and institutional investors to commercial and multi-family real estate deals. This idea...
As a property manager, your clients are your first priority (albeit not your only one!). Keeping your clients happy and maintaining a great relationship will reap benefits for your property management business. Happy clients keep business coming, not to mention they build your reputation and can lead to excellent referrals and references. What are the essential client management skills you need...
Investing in military housing can be a great strategy, whether you’re new to investing in rental property or have some experience under your belt. Even though it does have a few negative aspects to consider, there are several reasons why you should at least think about it if there is a military community relatively close by. Let’s start by talking about several advantages of investing in military...
Managing several complexes or just one complex with several buildings that house over a thousand units can get complicated. You’ve got to have the right team, the right skills, and excellent customer service to be successful in enterprise property management. If you’re managing multi-family units such as apartments, town-homes, condominiums, or even duplexes, you’re going to need to need the...
Refinancing a mortgage- whether its real estate or your own home- can be a life saver! It can dramatically cut your monthly bill, giving you the funds you need for a car payment, student loans, enjoying life or whatever you want. Here are a few refinancing guidelines to keep in mind before you move forward. These will help you determine the best time to refinance and whether or not this is a good...
If your property management business is getting more time consuming than ever, consider going online for your property management needs. Online property management is simpler than you think. There are many different software options out there and other services that are available for your convenience. What are some other ways you can transfer your property management services and needs online...
Productivity is a white whale that almost everyone is constantly chasing – and few chase it harder than property management professionals. In this business, you must be able to work quickly and efficiently to satisfy the needs of your client and their tenants. This is the only way you’re able to scale your business, and means you will need to plan ahead, stick to schedule and get...
Among the many day-to-day issues an apartment manager has to deal with, there is one that can be pretty uncomfortable and even intimidating: property crime. With this type of crime, perpetrators target denser, contained communities of people as opposed to communities that are wider-spaced and less contained – such as suburbs and similar house-based communities. This is a big concern because...
Missteps. Mess-ups. Gaffes. Or as Homer says, “Doh!” Whatever you call them, mistakes are common in life. Everyone has them, even the best of us, and especially when you’re new on the job. That being said, there are two types of mistakes. There are the ones that you can look at immediately afterward and chuckle about. Things like forgetting someone’s name, or accidentally...
Do you have questions about rental investing? Check out this post for some common questions a real estate investor who is interested in rental properties would be interested in exploring before diving into this article. It’s easier than ever to post rental listings online. But writing an effective rental ad is harder than you think. I’m currently in the middle of a housing search and some of the...
One of the most common questions asked by both landlords and property managers is: how do I get my renters to not only have paid rent on time, but to pay it in full? Nobody likes having to deal with slow payments or even tenants who default, and even fewer still like having to face down an eviction. (I’m sure there are some out there who do, I’ve just never met any of them and I doubt you have...
I live in a funky old house subdivided into six apartment units and I’ve lived there for almost three years. I live in a college town, so the other units see a lot of turnover and every time I see a moving truck in the driveway, I sniff around outside waiting to meet my new neighbor. Many of these people are unaccustomed to an easy display of neighborly kindness, and look horrified from the...
I live in an apartment in a subdivided house that was built in 1902. When I went to view the property I noticed right away that the building had seen some better days, but I was excited nonetheless. I grew up in a series of ramshackle farmhouses and my grandma’s own lovingly restored older house, so a unit in a building that’s obviously old makes me feel right at home. The leasing agent who...
I was 19 and decorating my first apartment for Christmas and I had my heart set on a real tree. I checked my lease and there wasn’t a rule against live trees inside, so I picked one out and brought it home. My roommate and I threw a holiday party that year and invited our friends to make ornaments for the tree with colorful paper, glitter, and other tools commonly found in the elementary...
During my early twenties I moved five times in four years. My reasons for moving varied, but one part of relocating always stayed the same; touring rental units. For every move I made, I looked at 5-10 units each time, always in search of the perfect place to call home. There are a few key things a leasing agent can do before showing a unit that make prospective residents like myself much more...
Winter holidays are coming and college students are getting ready to trek home for an extended break from their studies…and their rental housing. Students generally get a week long break for Thanksgiving and a 3 to 4 week break for winter holidays. Their exodus leaves a lot of rental units empty and vulnerable to property damage and cold weather related maintenance issues. When I was in...
Smoking has fallen out of fashion in the U.S. The number of Americans who smoke is at the lowest rate in over sixty years. According to the CDC only 18.1% of American adults smoke cigarettes, down from 41% in 1940 and 26% in 2000. Smoking is prohibited in indoor public spaces in 28 states, and banned in any establishment that serves minors in another 12 states. Following national trends toward...
Sprucing up your rental units isn’t all that different from taking care of your own house. You want to make sure that all the little details are attended to before they end up becoming big problems. Of course, a regular walk around and routine inspections can help, but also, if you take care of these 6 things while they’re small issues, they never really need to become big problems at...
I really like my landlord. I live in a tight rental market dominated by student housing. The unique challenges and joys of renting primarily to college students leaves some property managers and owners overwhelmed, particularly during turnover and at the beginning of leasing season. Finding a landlord in such a busy market who has the time, will, and resources to give individual attention to...
Being a landlord means having a load of responsibilities. From collecting rent and utility money, property management, marketing, and maintaining a good relationship with the tenants, a landlord’s plate can seem very full. If you manage numerous rentals then you may be a bit too busy to manage your properties to the fullest. Hiring a property manager can help alleviate the stress and will ensure...
A great way to help generate new and consistent income is to invest in rental properties. However mistakes are made and some can end up costing you a decent amount of money. While you can have what you think is a rather strict and secure screening process, there’s still no guaranteed way to ensure you weed out bad tenants. But you can help safeguard yourself from similar situations in the future...
Avoiding Rental Scams In the age of technology, it’s not just renters who are getting scammed with rental properties. Now there is such a thing as tenant fraud and it can be the cause of a serious headache. Here are a few ways to help avoid all of that and to keep yourself from being a possible victim. Search through online listings Do a search of listings in your area and even a little outside...