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Tim Wehner is a former president of the National Association of Residential PropertyManagers (NARPM ). His term as president ended in 2023, but hes been involved with the association in one way or another for his entire career in real estate. Start us off right, Tim! Back in 2009, we were a small company with around 120 units.
Heading into 2025, portfolio growth was at the top of propertymanagement companies list of priorities for the seventh year straight. In Buildiums most recent survey , 91% of third-party propertymanagement companies told us that they expect to grow their portfolios in the two years to come.
Generating enough revenue to compensate for rising costs remains a top challenge for propertymanagement companies in 2025. But when we look at the rate of growth that companies expect, we can see that they anticipate a slower pace of revenue growth over the next two years than they did back in 2023.
Ray Hespen, who is a frequent flier on The PropertyManagement Show, joined us again to discuss maintenance metrics and how measurement improves resident satisfaction and owner NOI. The last time he was on the podcast, in late 2023, his team was just beginning to establish this concept of maintenance analytics.
AI has the potential to address this by moving beyond task-based efficiency gains to drive big-picture operational performance that creates value for propertymanagers, owners and residents alike. One finding from NAA’s AI research report is that 74% of respondents ranked operational efficiency as their top challenge.
For propertymanagers and landlords, this trend serves as a reminder of the importance of proactive marketing and pricing strategies during slower quarters. Number of Homes Leased The number of homes leased in Q4 2024 dropped to 348, marking a 39% decrease from 573 homes leased in Q4 2023.
This marks a sharp improvement from October 2023, when rates peaked at 8.01%, a 23-year high. Whether youre buying your first home or working with propertymanagers in Washington DC on a current one, you can get the best deal possible if you know exactly what goes into mortgage rates. So, lets break it down in simple terms!
That can feel pretty frustrating, especially if you’re a landlord or a rental property owner who is trying to keep up and stay in compliance. As propertymanagement experts in Colorado , it’s our job to stay up to date on all the existing and pending legislation, and to keep the owners we work with in full compliance.
Sublease Market 2025: Increased Competition and Pressure on Rental Rates The increase in sublease availability presents additional opportunities for prospective tenants, thereby heightening competition among property owners, landlords and propertymanagersmanagingleasing.
In the United States return-to-office (RTO) rules are still changing as of early 2025, and they have a big impact on commercial property prices, commercial leasing rates, and staff retention. Companies, building owners, landlords and propertymanagers are watching these trends develop with anticipation.
Tenant demand remains high across the metro, with well-priced propertiesleasing in as little as 1416 days in desirable areas. Rent growth is outpacing national trends , particularly in Class B and Class C rental properties , where rents have increased by approximately 5% year-over-year. RL PropertyManagement is here to help.
Our propertymanagement in Baltimore will break down what’s driving rent increases right now. However, in 2023, regulations passed that order landlords to provide rent increase notices certain days ahead of time. appeared first on Bay PropertyManagement Group.
It requires active involvement in managing bookings, performing turnover cleanings , and communicating with guests, among other tasks, and may feel like a part-time job. If you prefer not to handle everything yourself, you can hire a propertymanager to oversee your daily operations.
In the competitive world of propertymanagement, tenant turnover can be a significant drain on resources and profitability. The costs associated with vacant units, marketing to new tenants, and preparing properties for new occupants can quickly add up. Offer a range of flexible lease options to cater to diverse resident needs.
Why you should vote for us as Best PropertyManager in the Best of North State 2024 When it comes to propertymanagement, we at Authority PropertyManagement know that choosing the right partner can make all the difference. At Authority PropertyManagement , we strive for excellence in everything we do.
Mid-term rentals are rental properties that you can lease for a medium-length period. Their leases tend to last longer than a short vacation but shorter than a full year-long lease. If youre considering offering a mid-term rental, working with a propertymanagement company in Washington, D.C.,
2023 California Residents can request to receive electronic communications Civil Code 4040 was amended at the beginning of 2023, making it mandatory for associations to deliver documents according to the preferred delivery method specified by the member. The policy must be posted on the POA’s website.
As the leaves begin to change and the temperatures cool down in LA and Ventura County, it's time for California LeasingPropertyManagement to help you prepare your rental property for fall. Regular gutter cleaning is essential for properties in LA and Ventura County to prevent water damage and maintain drainage systems.
Were beyond excited to share that Authority PropertyManagement has been named Best PropertyManager once againthis time for 2024! It reflects the passion, effort, and energy our team pours into serving property owners and renters across Redding and Shasta County every single day. Every lease drafted with care.
However, managing these properties takes a fair amount of time and energy, especially if you start to build a portfolio across multiple locations in the city. Enter an experienced propertymanagement company to protect your investment and peace of mind. Boosted tenant retention rates!
And Dallas, which saw the largest increase in population in 2023, according to the U.S. In 2023, Goldman Sachs broke ground on a $500 million corporate facility that will house over 5,000 employees. The country music hot spot grew by 86 people a day throughout 2023, according to U.S. Census Bureau data.
Discover Key Trends and Strategies to Enhance Tenant Stability and Boost Investment Returns in Shasta County At Authority PropertyManagement , we understand the importance of tenant stability for real estate investors, particularly in Shasta County. years) 2023: 337 days (about 0.9 years) 2021: 699 days (about 1.9
Propertymanagement services have changed by leaps and bounds over the past 5-10 years. And propertymanagement outsourcing services have grown along with it. While the traditional approach to propertymanagement simply provided the basics – maintenance, rent collection, etc.
This accelerated depreciation method was expanded under the Tax Cuts and Jobs Act (TCJA) of 2017, which allows investors to deduct 100% of the cost of qualified property acquired and placed in service after September 27, 2017, and before January 1, 2023.
That equates to 70 deed-in-lieu transactions spanning office, industrial, multifamily, hotel and retail properties in the first quarter, following 93 properties handed to lenders in the last three months of 2023. Those borrowers might have a rude awakening come tax season.
We pay attention to the competing properties on the market, the rental values that rise and fall, and the demands and wishes of the best residents we’re trying to place into your homes. Our propertymanagement insights for 2024 are around technology, tenant demand, and remote work. Others hate it. We promise.
In the United States, return-to-office (RTO) rules are still changing as of early 2025, and they have a significant impact on commercial property prices, commercial leasing rates, and staff retention. Companies, building owners, landlords and propertymanagers are watching these trends develop with anticipation.
Ark7 maintains a transparent fee structure, charging a 3% acquisition fee and propertymanagement fees ranging from 8% to 15%. Ark7 is a real estate crowdfunding platform that lets you buy fractional ownership in multifamily and single-family rental properties. New property shares are priced at $20 per share.
Silicon Valley Office Market In the third quarter of 2023, the iconic Silicon Valley commercial real estate office market faced ongoing challenges. quarter-over-quarter, might signify a market correction due to low demand and a lack of new leasing activity. pre-leased. Net absorption recorded a negative 1.8 Approximately 15.8%
We are seeing the typical slow down for this time of year- The advice I give at this time of the year is to expect units to take longer to rent moderate price reductions and lease start dates to occur after the first of the year. The post Market Update for the Week of November 22 appeared first on Foundation Homes PropertyManagement.
In early 2023, he moved in with the friend, who is also his landlord, whom he met playing soccer. The friend cut him a deal on rent, Evans also helps out with tasks such as property maintenance. “Median rents have gone up 23.4% where median incomes have gone up by 5%,” Hepburn said.
Plenty of tax benefits are available to rental property owners in San Francisco, and that’s good news. You’ll be able to recoup a lot of what you spend on things like maintenance, propertymanagement fees, and mortgage interest when you file your taxes. For the fiscal year 2023 – 2024, the amount is $59.00
As seasoned propertymanagement experts deeply rooted in the Washington, DC, community, we are committed to keeping our clients informed with specific knowledge about our market. If you are stuck with vacant units in 2023 Q4/2024 Q1, don’t overestimate your returns based on the past two years of data.
Resident retention is a measure of a property’s ability to keep its tenants over time. It reflects how successful the landlords and propertymanagers are at encouraging tenants to renew their leases rather than moving elsewhere. Maintaining a high retention rate is essential for multifamily properties.
Multifamily operating expenses are the costs that keep your property running smoothly, from fixing leaky faucets to paying property taxes. Typical operating expenses for multifamily expenses fall into predictable categories like maintenance, utilities, and propertymanagement fees.
From evolving tenant preferences to the ripple effects of economic policies, understanding these trends will give landlords, propertymanagers, and rental investors the insights needed to make informed decisions. million new households were formed in 2023, highlighting the increasing demand for rental properties.
In fact, according to a 2023 study by CBRE , multifamily properties have shown a strong recovery post-pandemic, with investment volumes increasing by 50% year-over-year. This makes multifamily real estate syndication an attractive option for investors looking to tap into the lucrative world of large-scale property investments.
Equity REITs Equity REITs invest in and own income-generating real estate properties. They make money through leasing the properties they own and collecting rent. This is the most common type of REIT, making up 96% of the market share in 2023. This removes the burden of day-to-day propertymanagement from you.
A holdover tenant is one that remains on the property after their lease has expired. The first option is to let the tenant continue living at the property. In other words, they will still be required to adhere to the terms of the existing lease or rental agreement. Hire a qualified propertymanagement company.
Sadly, Groundfloor ended its Stairs program in 2023. Arrived Rental Property Fund Arrived was the first real estate crowdfunding platform to offer fractional ownership of single-family rental properties. T hey let you buy shares for $100, but once you buy in, you’re stuck holding the property until they sell.
2023 was another rocky year for the housing market. Those trends, however, didn’t necessarily spell bad news for single-family rentals, and as we leave 2023 behind, single-families are well-positioned to remain strong in 2024. This tech-driven approach will improve tenant experiences and make propertymanagement more efficient.
Rent that goes unpaid during this protected period must be paid by July 31, 2026, but the city encourages renters and property owners to work together on payment plans or partial payments when possible. Renters are protected from eviction at the end of their first lease or after six months of a new lease agreement , whichever comes first.
Most propertymanagers and independent rental owners (IROs) are on the lookout for ways to streamline operations, reduce administrative work and increase their bottom line. In propertymanagement, some things are out of our control, but workflows, processes and procedures give us control over what we can manage.
While youre at it, show off the propertymanagement software you use to stay connected with your customers. Theyll appreciate the ability to easily contact you with questions, complete the leasing process and pay rent online. the popularity of RVs and boats soared in recent years.
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