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Source: National Association of Realtors Bloomington, Illinois Economic Statistics Population Growth (2022): -0.4% GDP Growth (2022): 4.4% Source: National Association of Realtors Rockford, Illinois Economic Statistics Population Growth (2022): -0.4% GDP Growth (2022): 6.1% GDP Growth (2022): 7.4%
Alongside the many positive factors that may pique real estate investors interest, there are three considerations that you may want to keep in mind when considering investing in New York State: Regulatory environment: Passed in 2019, the states Housing Stability and Tenant Protection Act dictates how landlords can operate rent-regulated units.
While the overall rental market saw huge growth through the 2020-2022 period with low interest rates and new large-scale apartment projects nationwide, most renters are still turning to more affordable renting options. Why Landlords, Property Managers, and Property Owners Should Take an Interest The industry is calling for updates.
Property management companies can help residents build credit, and Yardi Breeze is proud to partner with IDIQ, which acquired Resident-Link in 2022. It’s every housing provider’s dream to keep good tenants for as long as possible, making Resident-Link a no-brainer for many housing providers.
Would you rather lose 50 percent of your owners or 50 percent of your tenants? One of the reasons that tenants leave is that they hate the maintenance. Tenant satisfaction with maintenance is about the details. In 2022, a property manager could rent a home sight unseen. So, the hierarchy starts at the investor.
Sean brings his passion, energy, and expertise to our team, ensuring prospective tenants find their perfect place to call home. Meet Sean Maziarz, Leasing Agent for BMG Philadelphia Sean joined Bay Property Management Group in April 2022 as a Leasing Agent in Philadelphia. His daily routine starts at 9 a.m.
By Vanessa Anderson C0O, PropertyTek After years of markets that were unusually favorable to landlords and property managers, we’re shifting into more of a tenants’ market: Time on market is trending up, leads per rental are down, and concessions are increasing. In 2022, we were seeing about 30; today, it’s closer to 22.
The Sublease Market 2025 is shaping the landscape, with sublease space dropping by 3% in the fourth quarter of 2024, falling below 8 million square feet for the first time since 2022. Owners and Property Managers Are Offering More Flexible Lease Terms Provide tailored leasing options to accommodate tenant and sub-lessee needs.
Units are currently sitting vacant for 3 days longer than they were at this time last year, and for 10 days longer than they were in March 2022 when the market was just beginning to loosen. Sign Up For Our Weekly Newsletter And Get Rental Property And Apartment News And Helpful, Useful Content Each Week.
In 2022 alone, hosts in the US collectively earned approximately $22 billion by opening their homes to travelers. Airbnb guests pay before their stay, so there’s no risk of late payments compared to long-term tenants. Let’s take a look at the numbers. In 2024, the typical US host earned $15,000 over the year.
He begins this undertaking by showing tenants the properties and reaching out to potential renters. Then, he guides tenants through each step of the application and leasing process until when the tenant finally moves in. Then, he goes on the ground, moving from property to property, to lead tours for potential tenants.
As you can see below demand for rentals in Anderson has increased year after year since 2022. And with that surge will come tighter inventory, rising prices, and more competition for vendors and tenants alike. And while the crowds are still thin compared to larger cities, seasoned investors are starting to take notice.
In 2022 alone, disasters forced 32.6 adults were displaced or evacuated because of natural disasters in 2022, with more than 500,000 still unable to return home by the end of the year. And that trend will likely grow as disasters become more frequent and severe. If trends continue, 1.2 million U.S.
Retaining good tenants goes beyond convenience—it impacts your bottom line. The cost of finding a new tenant, additional maintenance, marketing the property, etc., means that keeping your tenants happy is very important. The cost of finding a new tenant, additional maintenance, marketing the property, etc.,
Published December 2022. Determining the right rental price for your property is crucial for attracting reliable tenants and maximizing your return on investment. Calculating the perfect rental price involves considering market trends, property features, and tenant demand. Updated January 14, 2025.
Fact #3: Tenant Quality Is Property Managers’ Top Concern Finding financially stable tenants is getting harder as rent growth outpaces wages, causing property management companies to prioritize tenant screening. In 2024, tenant quality emerged as the #1 concern for property management companies. This comes as U.S.
Inflation went up slightly month-over-month in October 2022. It means inflation may be slowing down, but how does it affect investors? By definition, inflation is the increase in living costs…
In 2022, the most recent statistics the U.S. As a property manager, there are plenty of measures you can take to prevent fires at your owners propertiesregular inspection and maintenance of smoke detectors and fire extinguishers, tenant education on fire hazards, updating electrical systems and appliances, to name a few.
As of January 1, 2022, residential landlords are now required to provide written disclosure to prospective tenants of the potential health risks and impact of the exposure to mold by providing a mold booklet. There is a new law that requires all landlords to provide information regarding dampness and mold.
As a real estate investor in 2022, what do you do when you find out your primary tenant wants to sublet your property without your approval? Table of Contents What…
million in 2022, but up from an average of 915,000 during the preceding decade. Prediction #4: Property Managers’ Use of Tenant Screening Services Will Increase Heading into 2025, tenant quality is property management companies’ #1 concern, according to Buildium’s most recent Industry Survey. What else is driving rental demand?
Discover Key Trends and Strategies to Enhance Tenant Stability and Boost Investment Returns in Shasta County At Authority Property Management , we understand the importance of tenant stability for real estate investors, particularly in Shasta County. years) 2022: 576 days (about 1.6 years) 2022: 576 days (about 1.6
The rental market rapidly increased during 2021 and 2022. In 2022, a record-high number of renter households (approximately 22.4 million units had rental contracts under $600 in 2022. Over half a million low-rent apartment units were lost between 2019 and 2022. They are 21% higher as of 2022. It dropped from 15.3%
The company alleges the city passed ordinances between 2018 and 2022 that hurt its ability to successfully operate a low-income apartment building. The city has retained the law firm Bryan Cave Leighton Paisner.
Industrial tenant demand cooled during 2023, particularly in bulk warehouse and distribution space. decrease compared to 2022’s total of 576 million square feet. Tenants took occupancy on a total of 1,042 new leases and user sales in 2023 […]
Voted Best Property Manager 2022 Congratulations to Authority Property Management on being selected as Best Property Manager! Whether you are a property owner or a tenant, we strive to be professional, courteous and provide top-notch customer service and to address any concerns or issues that may arise.
I only mean to demonstrate that laundry is important to every potential tenant who comes your way, and therefore it is something all landlords should carefully consider. Failing to do so can lead to disgruntled tenants or costly repairs. Should You Purchase or Rent Laundry Equipment?
I only mean to demonstrate that laundry is important to every potential tenant who comes your way, and therefore it is something all landlords should carefully consider. Failing to do so can lead to disgruntled tenants or costly repairs. Should You Purchase or Rent Laundry Equipment?
As you learned in the last installment of our Fair Housing blog series , fair housing applies to every action or inaction taken on the basis of protected classes; and that starts as soon as a prospective tenant engages with you, your rental listing, or your property manager. This does NOT mean that we choose the “best of the bunch.”
There are so many more tenants and units, […]. If you own a single-family rental or a portfolio of single-family rentals, the world of large multifamily may seem scary to you.
By: Laurie Mega According to the 2022 State of the Property Management Industry Report , the number of renters living in single-family rentals has risen steadily for the last several years. Here are some of the most important rental owner and resident service trends property managers across the country expect to stick with us in 2022.
Whether you're a property owner looking for peace of mind or a tenant seeking a seamless renting experience, we pride ourselves on being the team that delivers. Over the years, we’ve received numerous accolades, including the Best Property Manager for the Best of North State 2022 and 2023.
Senate Bill 4-D was signed into law in May of 2022 as a response to the Surfside condominium collapse. One of the most significant laws allows HOA owners, tenants and guests to park pickup trucks in driveways. HB 1203 makes it clear that HOAs need a website, just like condominium communities.
Location can dictate the cost of certain expenses like property taxes, and if your property is in an area with rent control laws, there could be a limit to how much you can charge tenants. A multi-family property will allow you to collect rent from a number of tenants, while a single-family home would yield just one rent payment a month.
Location can dictate the cost of certain expenses like property taxes, and if your property is in an area with rent control laws, there could be a limit to how much you can charge tenants. A multi-family property will allow you to collect rent from a number of tenants, while a single-family home would yield just one rent payment a month.
T hough a majority of businesses expect their revenue to increase, they’re anticipating slightly less revenue growth than they did in 2022 and ‘23. Current property management industry trends emphasize the importance of robust tenant screening. What’s causing businesses’ revenue growth expectations to moderate?
Property investments are not restricted to the standard buy-to-let design, and some may ask if furnished apartments are suitable for investors. Table of Contents What Are Furnished Apartments? Are Furnished…
Help your prospective tenants see all of the features of your properties in a timely manner with a fast, mobile-friendly website and thorough, attractive listings. Zumper Zumper is a value-added site that offers up neighborhood information and city guides for your tenants. That’s why it’s so important to optimize for mobile.
Property management companies may assist with the day-to-day activities of your residential or business properties. Table of Contents What Does a Property Management Company Do? Do You Need Property Management…
What cities are experiencing the boost in 2022? Gen Z renters seem to be moving to areas that are primarily attractive tourist destinations. Looking at the numbers, interest in destinations…
industrial market would see signs of cooling, occupier activity in bulk industrial space (tenant size larger than 100,000 square feet) outperformed 2021 transactions at the end of the year. Despite widespread speculation that the U.S. Transaction volume increased 16.2% year-over-year and totaled more than 672.2 million square feet.
2022 Year-in-Review The retail industry remained in expansion mode in 2022 as consumers and retailers remained resilient despite concerns over inflation, interest rates, and a potential recession.
OA Development entered into two deed-in-lieu-of-foreclosure deals on suburban Atlanta office assets in 2021 and 2022, Granath said. Despite years left on the lease, the tenant exercised an opt-out clause and vacated the property shortly after it traded hands.
Washington – According to the US Treasury, the remaining rental aid budget for struggling US renters is expected to be exhausted by the summer of 2022. Rental Aid Funds Running…
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