Here’s the latest rental activity and trends for the Phoenix Metro area for June 2023: Closed Rental Units: 2,307 (5.67% increase year over year) Median Lease Rate: $2,195 (0.18% decrease year over year) Average Lease Rate: $2,361 (0.08% increase year over year) Average Days on Market: 35 (45.83% increase year over year)

Many employees started working remotely during the pandemic, and few have fully returned to in-person jobs. Whether they work entirely from home or have a hybrid schedule, remote workers have specific needs since their home doubles as an office. Optimizing a rental unit for remote employees significantly impacts the property’s appeal, but where should landlords …

Continue reading “How Can I Optimize Rentals for Tenants Who Work from Home?”

Since rental income is a form of “passive” income, new investors may view real estate as an easy money maker. But the day-to-day work of being a landlord involves complex tasks and considerations that are anything but passive. An inexperienced real estate owner can encounter challenges resulting in foreclosure or massive debt without adequate planning. …

Continue reading “Mistakes to Avoid as a New Landlord”

Shelter, protected by the U.S. government under fair housing and anti-discrimination laws, is a fundamental human right. A subset of these regulations removes obstacles so disabled persons can take full advantage of housing opportunities. Under these laws, the landlord must adapt his units to renters’ unique needs. He must also provide reasonable accommodations to disabled …

Continue reading “What Does Reasonable Accommodation Mean for Rental Properties?”

Here’s the latest rental activity and trends for the Phoenix Metro area for May 2023: Closed Rental Units: 2,062 (3.41% increase year over year) Median Lease Rate: $2,195 (0.23% decrease year over year) Average Lease Rate: $2,371 (0.47% increase year over year) Average Days on Market: 35 (40.00% increase year over year)

When a promising, thoroughly screened renter signs a lease, every landlord hopes that the renter will prove cooperative and content to rent long-term. So, immediately set the tone for your professional relationship by making a positive first impression.   First impressions occur instantly but have lasting consequences. Here are four ways to put your best foot …

Continue reading “Making a Good First Impression with Tenants”

Improving energy efficiency in your rental property sounds like a win-win. Both you and your tenants will save money on utilities while protecting the environment. But the logistics of energy efficiency can quickly become complicated . . . and expensive. Fortunately, not all energy efficiency improvements require significant cost or hassle. Here are some ideas …

Continue reading “Improving Energy Efficiency in Your Rental Property”

Condos, short for condominiums, are individually owned units that compose one housing complex. The units may be attached or detached and can vary in size from studios to 3- or 4-bedroom residences. Homeowners’ associations cover these condos, often located in downtown areas.   Among property investment options, condos are the most approachable due to their versatility, …

Continue reading “When is a Condo a Good Real Estate Investment?”

Owning multiple properties can be an exciting way to expand your assets and take advantage of growth opportunities as a real estate investor. But each new property will likely require additional financing, which leads to the question: how many mortgages can you have? In 2009, the Federal National Mortgage Association, commonly known as Fannie Mae, …

Continue reading “How Many Mortgages Can You Have?”

Nothing adds to curbside appeal quite like attractive landscaping. But upkeeping grounds is also one of the biggest pains of owning a rental property. The good news is that you can promote your property’s visual appeal without a major hassle. Here are some tips for producing an attractive landscape that’s simple to maintain.   Take advantage …

Continue reading “Tips for Low-Maintenance Landscaping”