From giving tours to prospective tenants to maintenance work to performing inspections, many aspects of a landlord’s job often need to be conducted on the premises. Fortunately, the IRS allows landlords to deduct the expenses of traveling to and from their rental units and other business-related activities. But since travel expenses are one of the …
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Here’s the latest rental activity and trends for the Phoenix Metro area for January 2024: Closed Rental Units: 1,974 (6.31% decrease year over year) Median Lease Rate: $2,095 (2.45% increase year over year) Average Lease Rate: $2,259 (0.44% decrease year over year) Average Days on Market: 52 (20.93% increase year over year)
Owning rental property can be a great way to reach your financial goals. With a positive cash flow, a landlord can build equity, earn profits, and expand their portfolio. But higher-than-expected vacancies, operating costs, or repair needs can quickly turn what should be a lucrative asset into a financial drain instead. What should a landlord …
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More residents in a rental unit can mean increases in noise, amenity usage, and wear and tear. Overcrowding of a living space might even result in damage, safety hazards, or filth that attracts undesirable pests. For landlords looking to avoid such problems, setting occupancy limits for their rental property seems to be an easy solution. …
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If one of your 2024 goals is increasing income from your rental properties, add The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing to your bookshelf. In this book, successful real estate investor and Bigger Pockets Podcast co-host Brandon Turner shares how he’s gained financial freedom …
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Due to market oversaturation, reduced stress, and steadier income, many landlords are transitioning their vacation properties to long-term rentals. (For a more detailed look at the factors to consider, see our post on Why are People Converting Vacation Rentals to Long-Term Rentals?) Once a property owner decides to convert his property, what’s next? How can he …
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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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