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Mon
26
Mar
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Millennials Spend About 45 Percent Of Income On Rent Before Age 30

Millennials Spend About 45 Percent Of Income On Rent Before Age 30

A new study based on Census data shows that millennials spend about 45 percent of their income on rent before reaching the age of 30, according to Rent Café.

The cost of renting is a huge subject nowadays and a big expense as well, arguably the biggest it’s ever been. People in their 20s starting a life on their own have always faced a lot of challenges. Besides having a low income because of limited work experience, leaving home and paying rent make things even harder, according to Rent Café.

“Analyzing Census data going as far back as 1974, we discovered that rent burden followed an ascending trend over time, making millennials the hardest hit generation. But the future doesn't look too bright for Generation Z either,” the company said in a release.

Mon
26
Mar
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Millennials Spend About 45 Percent Of Income On Rent Before Age 30

Millennials Spend About 45 Percent Of Income On Rent Before Age 30

A new study based on Census data shows that millennials spend about 45 percent of their income on rent before reaching the age of 30, according to Rent Café.

The cost of renting is a huge subject nowadays and a big expense as well, arguably the biggest it’s ever been. People in their 20s starting a life on their own have always faced a lot of challenges. Besides having a low income because of limited work experience, leaving home and paying rent make things even harder, according to Rent Café.

“Analyzing Census data going as far back as 1974, we discovered that rent burden followed an ascending trend over time, making millennials the hardest hit generation. But the future doesn't look too bright for Generation Z either,” the company said in a release.

Mon
26
Mar
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Confused Over Service, Assistance And Emotional Support Animals?

Confused Over Service, Assistance And Emotional Support Animals?

The Grace Hill training tip of the week focuses on the confusing issue and definitions of service animal, assistance and emotional support animals.

By Ellen Clark

You probably hear the terms service animal, assistance animal, and emotional support animal a lot. But do you really know what these terms mean? If not, you are not alone!

 There are three laws that relate to rental housing and service and assistance animals:

Tue
20
Mar
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Seattle, Phoenix, Denver Top Hot Spots For Apartment Jobs

Seattle, Phoenix, Denver Top Hot Spots For Apartment Jobs

Apartment jobs listings jumped up 18 percent in February over January, according to the apartment jobs report from the National Apartment Association Education Institute.

The increase in the number of apartment job listings in February certainly involves some seasonality factors as 2018 hiring plans took firmer hold, according to Paula Munger, Director, Industry Research and Analysis, for the National Apartment Association (NAA).

Denver, Phoenix and Seattle maintained spots in the top three metro areas for apartment jobs as a percent of the entire real estate sector, signaling increasingly competitive job markets where qualified candidates have plenty of choices, she said.

Tue
20
Mar
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How Your Terms, Conditions Or Privileges Could Mean Discrimination

How Your Terms, Conditions Or Privileges Could Mean Discrimination

The Grace Hill training tip of the week focuses on the issue of how your terms, conditions or privileges you provide prospective tenants and existing tenants could be discrimination under the Fair Housing Act.

By Ellen Clark

You must treat all prospects and tenants in a consistent way in how you use terms, conditions or privileges to avoid discrimination under the Fair Housing Act.

Setting different terms, conditions, or privileges for buying or renting housing is a little less direct than other illegal practices, such as an outright refusal to rent or sell to an individual.

But it is just as illegal.

Requiring higher security deposits from families with children and demanding higher application fees from minorities are examples of discrimination in terms, conditions, or privileges. These practices violate fair housing laws.

Tue
20
Mar
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10 Things To Consider Before Investing In A Pool For Your Rental

10 Things To Consider Before Investing In A Pool For Your Rental

Property managers and renters may view a pool for your rental property as an appealing feature that can de help attract new tenants and keep current tenants happy. But pools also come with a maintenance price tag and that is the maintenance checkup from Keepe this week.

Building a swimming pool on-site may not always be a good option so there are some issues to consider.

Here are 10 things to consider before building a pool for your rental property.

1. A pool for your rental can be dangerous

Pools can represent a serious and potentially deadly danger for those who do not know how to swim, especially children. Making a pool available to residents will require implementing effective safety measures to eliminate the danger of accidental falls or easy access for unsupervised children.

Thu
15
Mar
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Utah Company Acquires Two Apartment Communities

Utah Company Acquires Two Apartment Communities

Restore Utah has purchased two apartment communities totaling 76 units, Pine Valley and Pine Cove in Salt Lake County, according to a release.

"We are pleased with the acquisition of Pine Valley and Pine Cove and are optimistic regarding the Salt Lake market because of its expanding population, strong job growth and low unemployment. We now own over 450 multifamily units in and around Salt Lake County and have found great success investing in the Utah economy while delivering quality affordable housing," Jim Schulte, President at Restore Utah, said in the release.

Pine Valley is a 60-unit apartment community that was built in 1970 and offers two bedrooms units. 

Wed
14
Mar
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Multifamily Rents Remain Steady In February

Multifamily Rents Remain Steady In February

The average multifamily rent in the U.S. rose $1 to $1,364 in February, a 2.7% year-over-year increase, according to the Yardi Matrix Multifamily monthly report for February and survey of 121 markets. 

“The deceleration was expected, coming after a long period of above-trend growth and just as deliveries were reaching a cycle peak,” the report says. “We forecast a slowdown, so growth of 2.7% is not surprising. Nor is it something to be disappointed with, since it is very close to the long-term average.”

Tue
13
Mar
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How A No Pet Policy Can Be Discriminatory

How A No Pet Policy Can Be Discriminatory

The Grace Hill training tip of the week focuses on the issue of how a no pet policy can be discriminatory when it involves potential tenants with disabilities.

By Ellen Clark

Landlord and property managers must make reasonable accommodations to meet the needs of people with disabilities.

An accommodation is a change in any rule, policy, procedure, or service if the changes are needed for a person with a disability to have equal opportunity to occupy and enjoy full use of their housing.

One of the most common accommodation requests people with disabilities make is to have an animal that would otherwise be restricted by a community’s rules.

Tue
13
Mar
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20 Easy, Affordable Maintenance Projects To Update Your Rentals

20 Easy, Affordable Maintenance Projects To Update Your Rentals

The smaller maintenance jobs that improve the look and feel of a rental space and make it feel welcoming can really help when it comes to landing that next tenant is the maintenance checkup from Keepe this week.

This week’s post will list easy and affordable maintenance projects to update every room. These small improvements and investments really go a long way.

 

5 front and outdoor improvements

1. Repainting the front door - a fresh and crisp coat of paint does wonders for a property’s exteriors, especially when opting for bright or bold colors. Due to its exposure, the front door can be prone to discoloration and chipping, and a new coat of paint can completely transform it into a cheerful and appealing detail.

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