Artificial intelligence, or AI, features in the news increasingly frequently as its capabilities encompass more industries and applications. AI has already impacted the real estate industry for some time, but its influence will continue to expand as investors find new ways to harness its potential. As this technology revolutionizes the way investors buy, sell, and …
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Here’s the latest rental activity and trends for the Phoenix Metro area for December 2023: Closed Rental Units: 2,033 (4.64% decrease year over year) Median Lease Rate: $2,095 (3.71% increase year over year) Average Lease Rate: $2,250 (1.32% decrease year over year) Average Days on Market: 46 (12.20% increase year over year)
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 …
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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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 …
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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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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Here’s the latest rental activity and trends for the Phoenix Metro area for November 2023: Closed Rental Units: 2,249 (2.88% increase year over year) Median Lease Rate: $2,095 (0.48% increase year over year) Average Lease Rate: $2,256 (1.31% decrease year over year) Average Days on Market: 44 (18.92% increase year over year)
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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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 …
Continue reading “How Should Landlords Deal with Unpleasant Neighbors?”
