Dominion Management, a property management company based in the Baltimore area that oversees roughly 800 single-family homes, has an exceptionally low delinquency rate – under 5% – compared to the average tenant delinquency of 11%, according to the Census Bureau’s Pulse Survey. They also maintain a long tenancy term of 5-6 years rather than the typical 12 month average. How do they make this happen? Being a landlord entails more than just owning property and collecting rent. It involves careful management, communication, and foresight to protect your investment and maintain positive landlord-tenant relationships. Here are 4 expert tips to maintain low delinquency rates: https://loom.ly/6cs7Xyo #realestate #realestateinvesting #propertymanagement #landlord #tips
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https://lnkd.in/eiBHJCWD Apply a 10% profit cap formula to all rented property that accounts all rental income minus liabilities divided by total number of units for larger properties. this is the cost of the unit. whatever this number is the rent charged can only be 110% of that cost. For a single unit rented it can't be more that 110% of all combined annual costs. For owner occupied units this is reduced to 40%. The reason being is that we want investors that are going to stay for 10 years or more. At 10 years at 10% you have a 100% return on investment. This can stabilize the market. Let's say that we have a complex with 100 units (for the sake of the exercise they are all identical units). Let's say the property was purchased for $6.5M. 6.5M/10 years/12 Months/100 units brings the cost for one of these units monthly to $541.67 a month before other amenities. $541.67 a month times 1.1 equals $595.83. We can mostly agree that if the tenants are paying their own utilities other amenities and utilities and insurances combined cannot even come close to the mortgage payment for the complex in terms of cost, therefore 110% rule would render the highest rents for affordable properties in Massachusetts no more than $1200 per month. Amenities included should all be included under the same 110% rule. Maura Healey Ed Augustus
New 'anti-rent gouging bill' in Virginia General Assembly would limit how much rent landlords can charge
13newsnow.com
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Founder of Next Level Income ► Helping Professionals Create Passive Income Streams | Real Estate Investment Coach | Strategist | Background in Medical Device Sales
“The difference between rent-stabilized unit values and market rent unit values since the 2019 change is startling. Last year, the price of New York buildings with at least one rent-stabilized unit sold for prices that were 34 percent lower than in 2019. By contrast, the price of non-regulated apartments rose 23 percent during the same timeframe.” https://lnkd.in/ej8jVrK5
The Folly of Rent Control in New York City (Again)
mises.org
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Here’s some good news in #housing to offset your #doomscrolling: ✔️ Nationally, about 27,500 #buildtorent homes were completed in 2023, a 75% increase from 2022. ✔️ Over 45,400 more rental homes in #construction are on the way. ✔️ Phoenix is leading the nation with the most #BTR units completed in the past 5 years. ✔️ Rental communities “have proliferated, offering amenities, property management perks — and no mortgages” for residents. ✔️ “It costs about $1,000 less per month to rent a house than to own one.” Data ➡️ RentCafe.com #AMH-built homes in Arizona ➡️ https://lnkd.in/gSp4paJY Article ⬇️
Phoenix leads nation in built-to-rent houses
axios.com
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Two regions of the country demonstrate two extremes in rent change. In South Florida, effective rents have climbed by the highest dollar differential in the nation since February 2020, equating to a more than 43% jump in four years. In contrast, on the other side of the country, the Bay Area saw effective rents stagnate in that time frame: #multifamily #realestate #FL #CA #commercialrealestate
Comparing Rents in Bay Area and South Florida Since Pandemic
realpage.com
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In the heart of South Florida, there is a new noteworthy trend that is integrating annexes into new home constructions. This innovative approach is addressing the growing demand for affordable housing and flexible and multi-generational living spaces. This new trend is redefining family dynamics within South Florida communities. These annexes, equipped with their own kitchens and entrances, provide families with a unique solution to keep their loved ones close while ensuring privacy and independence. This shift towards annexed living is driven by a combination of economic and demographic factors. With the median home sales price in Miami-Dade County reaching $519,811 in January, according to Rocket Homes, and rents soaring to as high as $2,700 for a one-bedroom apartment (Zillow), the annex trend is emerging as a creative solution to the region's affordability crisis. Additionally, these built-in apartments present an opportunity for homeowners to generate additional income, potentially aiding in mortgage qualification amidst rising interest rates and property prices. Could Tampa follow suit? As we watch these developments, the question arises: Is Tampa next in line for this real estate evolution? The potential for annexes here could signify a leap forward in offering more versatile housing options, catering to a diverse array of family setups and investment strategies. But the real intrigue lies in how such a trend could shape our local market, from impacting housing affordability to altering homeowner insurance landscapes. I'm curious to hear your thoughts: How do you perceive the annex trend impacting Tampa's real estate market? Could this approach work in Tampa? What do you think – could this be a game-changer for Tampa real estate? Let’s discuss! #TampaRealEstate #HousingInnovation #SouthFloridaTrends #RealEstateDiscussion #AffordableHousing
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There are trends in every business, property management included. Since the pandemic, major shifts have occurred in the housing markets coast to coast. 1. Rent vs Own Trend: With home prices, personal debt & inflation on the rise, more people are driven to rent. 2. Multi-family construction has hit a 50 year high 3. Single-family home rental is on the rise. Developers and property owners have surged ahead to meet the demands of today's consumers creating single-family rental home communities. When you factor in the costs and fluctuations in labor and staffing with stubborn inflation, having the expertise of property management behind you can save you thousands in lost rents, staff turnover and operations. With offices in Florida and New York, ask us how at Great Arrow (844) 473-2826 or visit https://lnkd.in/eMWu7vJF Photo credit: Florida Times-Union #rentalhousing #rentalincome #rentalhome #developer #hoa #propertymanagement
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It is a complete failure of both New York State's government, and NYC's government, regarding the apartment rental market here in NYC. It is beyond outrageous and no one is doing ANYTHING about it. Landlords literally need to be executed for extortion. How about the governments stop focusing on issues of no importance and focus on making housing realistic? The average rent is upwards of $5k/month and the mean income in NYC is ~$50k. Do you not see the discrepancy here? Not to mention that you pay these prices and don't even have modern conveniences like laundry in each and every apartment. There should be a law that states if you are charging money with a value in 2023 then your offering must match the times with modern conveniences, etc. No laundry? An immediate 25% reduction in rent. No A/C? Another 10% reduction. All sizes of apartments should have MAXIMUM rental values (and I'm not even addressing the fact that landlords and tenants are utilizing three bedroom apartments as five and six bedrooms ones, and even beyond.) and it should also be linked to the what the mortgage payment of that property would be. For example, if the mortgage would be $2,500/month then the apartment can rent for a max 2x value (I'm using arbitrary numbers to make a point). I'm fully supportive of an open market and capitalism, but I'm learning in this day and age there need to be profit limits - and I think this should apply to EVERYTHING that is purchased. #nyc #realestate #extortion #living #housing #landlords #disruption
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🏠💼 One in six renters chose to stay in their homes for 10 years or more in 2022, a notable increase from 13.9% a decade earlier, according to a recent report from real estate brokerage Redfin. 📈🔍 #RentalHousing #RealEstateTrends #TenantRetention
Redfin: Renters Staying Put Longer
multifamilyexecutive.com
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🏠💼 One in six renters chose to stay in their homes for 10 years or more in 2022, a notable increase from 13.9% a decade earlier, according to a recent report from real estate brokerage Redfin. 📈🔍 #RentalHousing #RealEstateTrends #TenantRetention
Redfin: Renters Staying Put Longer
multifamilyexecutive.com
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"American dream is on life support now." How one financial professional characterized our 'Vampire Fed Rate', mortgage-less economy. Most people understand we live in a retail economy, no longer based on making what we consume. And to make up for the short-fall in the drop in value for most of the Working Class, credit has kept the wheels of American business turning. Take away the credit and you have exactly what you expect - a recession that forces the Working Class further and further into poverty from an unsustainable lifestyle. What's going on behind the scenes is not an accident, or just 'good business'. There's nothing good about an economy manipulated to force the Working Class into one giant 'Mill Village'. It's not that the American Dream is dying. It's that it's become a virtual nightmare for many, and some still expect the 'Lesser of Two Evils', owned by Wall St. and the Wealthy, Inc. to fix it.
🏡New on USA TODAY's website: A look at the #buildtorent trend. 📈Build-to-rent communities have served senior populations for decades. In recent years, though, they have taken off and targeted younger tenants who cannot yet afford a down payment on a home. In 2023, builders completed an estimated 97,000 build-to-rent residential homes, an increase of 45% from the prior year and a record for the sector, according to estimates from John Burns Research and Consulting. While leasing may not fulfill the typical #AmericanDream of #homeownership, some experts view any addition to the #housing supply ‒ including more #rental properties ‒ as positive. "For many, renting is just the only affordable option," said Susan Wachter, a real estate professor at The Wharton School.
“Build-to-rent’’ communities fill the gap as home prices soar
usatoday.com
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