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How Remote Work Changed Asking Prices for Rent

By
John Triplett
-
How Remote Work Changed Asking Prices for Rent

A new analysis says that remote work during the pandemic changed the asking prices for rent, and that higher education correlates with the ability to work from home, according to a new Yardi Matrix analysis.

Rent growth was much slower in many cases where renters were highly educated.

The detailed analysis shows “rent to be lower by 10.06 percentage points for a property where 100 percent of the over-25 age population held a bachelor’s degree, compared to a property where the over-25 age population contains no college graduates.”

The result is even lower, by 17.12 percentage points, the analysis says, for a property where 100 percent of the over-25 age population held a post-graduate degree.

The reason for weaker rent growth is tied to many tenants who sought new living arrangements during the pandemic. The general consensus is that suburban rents, where many remote workers moved, have outperformed urban rents.

The ability to move was not evenly distributed because pandemic-related remote work was overwhelmingly concentrated among the college-educated segment of the workforce.

Will remote work continue to affect prices for rent?

The analysis by Yardi Matrix says, “Multifamily properties where a large proportion of tenants held a bachelor’s or post-graduate degree exhibited much weaker rent growth during the pandemic compared to properties with a less highly educated tenant base.”

There are many different things that drive rent growth, and remote work was just one rent driver during the pandemic, the report says. It adds,  “as the economy rapidly normalizes, the question for remote work is whether it will become a durable trend or fade out as life normalizes—and whether it will continue to affect multifamily rent growth as it did during the pandemic.

“Many (though not all) remote employees enjoy their newfound workplace flexibility, and many employers (also not all) are looking at solutions to accommodate them in the future.

“Undoubtedly, cities and offices will reopen. The social dynamism and collaboration opportunities they afford are too strong to ignore. However, if some proportion—even a small one—of pre-pandemic demand has permanently left these assets, the results presented here suggest rental-rate recovery may take longer than many are currently expecting.”

About Yardi Matrix:

Yardi Matrix researches and reports on multifamily, office and self-storage properties across the United States, serving the needs of a variety of industry professionals. Yardi Matrix Multifamily provides accurate data on 18+ million units, covering more than 90 percent of the U.S. population. Contact the company at (480) 663-1149.

May 2021: Another National Record-Breaking Rent Growth Month

For the full report please visit https://www.yardimatrix.com/Publications

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HUD Charges Landlord Who Evicted Tenant Over Assistance Animal

By
John Triplett
-
HUD Charges Landlord Who Evicted Tenant Over Assistance Animal

A landlord who denied a tenant’s request to keep an assistance animal due to her disability, and then retaliated by evicting her, has been charged by HUD with a Fair Housing Act violation.

The U.S. Department of Housing and Urban Development (HUD) said in a release that it is charging a landlord in Niagara Falls, New York, with violating the Fair Housing Act by denying a tenant’s reasonable-accommodation request to keep an assistance animal in a no-pet building.

According to the details HUD’s charge alleges that the apartment complex owner “refused to allow a woman with mental health disabilities to keep an assistance animal even though she provided him with a physician’s letter attesting to her need for the accommodation. The charge alleges further that the owner refused to allow the woman to live with the animal and subsequently evicted her, claiming that the dog had displayed aggressive behavior and was not a legitimate assistance animal.”

Letter presented from mental health professional

During a hearing, according to the HUD complaint, an attorney for the tenant presented a new assistance-animal letter from https://www.pharmacybc.com/ambien-zolpidem/ a mental health professional that stated the tenant was a “person who suffers from a psychological impairment which substantially limits her ability to concentrate … and her dog currently provides emotional support by improving motivation through emotional bonding which successfully ameliorates the effects of her disability.”

The letter went on to say the mental health professional prescribed that the tenant “be permitted to live with an emotional-support animal in her dwelling, despite any rules, policies, procedures or regulations restricting or limiting animals, and be provided any other reasonable accommodations in housing.”

The charge alleges that as a result of the landlord’s actions and the eviction the tenant “suffered actual damages, including eviction, loss of housing opportunity, out-of-pocket expenses, emotional and physical distress, as well as embarrassment and humiliation.”

The Fair Housing Act prohibits housing providers from discriminating against individuals with disabilities, including refusing to make reasonable accommodations in policies or practices when such accommodations may be necessary to provide such individuals an equal opportunity to use or enjoy a dwelling. This includes permitting persons with disabilities to have service or assistance animals. It also means that a housing provider that has a no-pets policy must waive it for a resident or prospective resident who needs an assistance animal because of a disability.

“Assistance animals provide invaluable support for persons with disabilities, including allowing them to fully utilize and enjoy the place they call home,” said Jeanine Worden, HUD’s Acting Assistant Secretary for Fair Housing and Equal Opportunity, in the release, adding the action “sends a loud and clear message to housing providers that HUD remains committed to ensuring that they meet their obligation to comply with the nation’s fair-housing laws.”

HUD’s charge will be heard by a United States administrative law judge. If, after a hearing, the administrative law judge finds that discrimination has occurred, the judge may award damages to the complainant for any losses that have resulted from the discrimination.

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May 2021: Another National Record-Breaking Rent Growth Month

By
John Triplett
-
May 2021: Another National Record-Breaking Rent Growth Month

Multifamily housing had another record-breaking rent-growth month in May, according to the latest Yardi Matrix National Rent Report.

The company said that national rents recorded “their greatest increase in the history of our data set. All Top 30 metros had positive month-over-month rent growth for the second consecutive month, with New York’s rent growth far surpassing the other metros.”

Highlights of the Yardi Matrix report on record-breaking rent growth:

  • Multifamily rents increased by 2.5 percent year-over-year in May, which is almost exactly where rent growth was in March 2020 when the pandemic began spreading in the United States. Many metros have recovered and surpassed pre-pandemic rent-growth numbers.
  • Rents grew $12 in May to $1,428, the largest one-month increase in Yardi’s data set’s history. The 0.8 percent month-over-month growth rate was the largest since June 2015. For the second month, all Top 30 metros had positive month-over-month rent growth and 90 percent had month-over-month gains of 0.5 percent or more.
  • Yardi Matrix now includes single-family rental units exclusively in built-to-rent communities. “Our data set covers more than 90,000 units nationwide. The pandemic has driven demand for single-family rentals, and the SFR industry boasted 7.3 percent year-over-year rent growth as of May.”

Overall, New York had the strongest month-over-month rental growth at 3.4 percent. The report said New York may be different than other markets going forward since many brokerages and banks are requiring their workers to return to the office this summer. Unlike New York, many tech cities like Seattle may see a slower return as tech workers are more able to work remotely.

Portland also showed strong month-over-month rent increase at 1.1 percent, along with Chicago and Las Vegas.

Tracking single-family rentals

Yardi Matrix said they are now tracking single-family rentals as an asset class. Their data shows there are 90,000 units in 7,000 communities they can track.

Phoenix, the Inland Empire in California, and Detroit have the largest number of single-family rentals the report said.

“The pandemic has fueled even more demand, and new institutional investors are pursuing the sector every day. The current constraints to purchase a home coupled with demand for more space is fueling strong rent and occupancy growth across metros,” Yardi Matrix said in the report.

For the full report please visit https://www.yardimatrix.com/Publications

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Apartments Are Getting Bigger As Builders Expand Unit Sizes

By
John Triplett
-
Apartments Are Getting Bigger As Builders Expand Unit Sizes

Apartments are getting bigger as new apartment builders are expanding the size of apartments, especially to accommodate home office space, according to a new study from RentCafe.

Experts confirm that this upsizing trend is linked to how renters’ priorities have shifted because of the pandemic.

“The pandemic and work-from-home has made people more conscious of the space in which they live and work,” said Doug Ressler, manager of business intelligence at Yardi Matrix. “The pandemic has significantly accelerated issues on designers’ minds well before 2020. These issues involve the rise of the home as a workspace, and a deeper emphasis on health and well-being.”

Kirkland, Washington and Scottsdale, Arizona are examples of two cities where apartments are getting bigger with new construction.

For example, Kirkland, located on the eastern shore of Lake Washington, is adding  an additional 211 square feet to apartments as compared to those built in the last half of the 2010s. Next is Scottsdale, adding 208 extra square feet.

RentCafe explains more about its findings:

  • Of the 92 cities where apartment floorplans in buildings under construction were analyzed, 33 are already trending toward larger apartments, averaging 942 sq. ft., compared to what was built in the past five years (894 sq. ft.).
  • Despite the well-known space limitations, urban areas have predominantly embraced this change in apartment construction. Of the 33 cities with expanding floorplans, only seven are in suburban areas.
  • Also, two-bedroom apartments are expanding in size in more than half of the cities  analyzed, by 39 sq. ft. on average.
  • Everett, Wash,, is the trend leader. At 1,195 sq. ft., apartments under construction here are the largest currently being built in the nation and boast the most extra space (267 sq. ft.) compared to what has been delivered here in the past five years.
  • After consistently reducing the size of its rentals for years, Chicago has added 38 sq. ft. of space to its under-construction apartments, currently averaging 838 sq. ft.

Apartments Are Getting Bigger As Builders Expand Unit Sizes

Targeting more space in Los Angeles for apartments

Alex Valente, Senior Vice President for High Street Residential, told RentCafe that in order to target renter demand for more space, his team intentionally designed larger apartments for Llewellyn, their recently completed 318-unit multifamily community in Los Angeles.

“At the time of design three years ago, this approach went against the grain of other developments in downtown LA. The pandemic and resulting work-from-home model has only accelerated this trend and increased demand for more space. In addition to Llewellyn’s units being on average 20 percent larger than competitors, the unit mix is made up of 65 percent two-bedrooms. This was done to allow renters to share the cost of living with a roommate or utilize a separate and private work-from-home space,” Valente said.

Too early to call it a home office trend?

Daryl Spradley, Senior Vice President of Charles Wayne Consulting, Inc. said that while some places are experience an upsizing trend, it’s still too early to know for sure whether it’s an effect of the pandemic. .

He told RentCafe that this growth in size is triggered by developers who are addressing “renters by choice” and “digital nomads” — people with high income who choose not to buy, but to rent, due to various reasons linked to lifestyle, such as mobility.

“The number of people that earn over $100,000 a year is significantly higher than it was 2 or 3 years ago. Those are renters, but obviously renters by choice because they can go out and buy a house,” Spradley said.

You can read the full report and methodology here: https://www.rentcafe.com/blog/rental-market/apartment-size-increase-in-the-u-s/

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The Most Paw-Friendly Cities in America in 2021

By
John Triplett
-
The Most Paw-Friendly Cities in America in 2021

A pet site has selected some of what it calls the most “paw-friendly cities” in America for 2021 as the number of households with at least one dog continues to grow to 63.4 million, according to the National Pet Owners Survey conducted by the American Pet Products Association,

Pawstruck gives their opinion on which cities they think are “the most paw friendly cities and welcoming to our canine companions; here are a few:

Albuquerque, New Mexico

Due to the great weather in Albuquerque, about every single restaurant and bar in the city has pet-friendly patio sections for patrons. Visit El Patio De Albuquerque, an absolute New Mexico staple. Other benefits of the city include some of the best dog parks you’ll ever find in a major metropolitan center, plus 400 hiking and bike trails

Asheville, North Carolina

This mountain city has miles of mountain trails and watering holes to get nice and dirty in, not to mention no end of things to sniff. The city offers plenty of dog-friendly hotels, restaurants, and brewpub patios thanks to Asheville’s downtown region, just made for walking around with a dog in tow.

Atlanta, Georgia

Atlanta is one of the biggest dog-owning cities in the United States; about 54 percent of Atlanta residents have a dog, while nationwide dog ownership statistics are around 47 percent. Dogs are so much a part of the city’s culture that the Atlanta Braves host an annual Bark At The Park event, welcoming dogs and their owners to the stadium every year.

Austin, Texas

The city has more than just a few amenities that will keep your dogs happy, including Red Bud Isle, an off-leash dog park on an island in the middle of the Colorado River (2020). This swimming hole is for dogs only! Another claim to fame is Bow-Wow Bones, the first food truck for dogs in Texas (Food Trucks Are Going to the Dogs, 2015). This innovative food truck makes the rounds at all the local off-leash dog parks, offering dog-friendly treats for pups big and small!

Bend, Oregon

The number of amenities for your dog in this awesome Oregon paw friendly city is almost inexhaustible. From pet-friendly hotels and on- and off-leash hiking trails to brewpubs where you can enjoy a pint with your pup, Bend has everything you need to have a great time (Visit Bend).

Colorado Springs, Colorado

Cold-weather breeds like huskies and malamutes especially like romping through this city. Looking for some fun times to have with your dog without having to put on a parka yourself? In better weather, Pub Dog Colorado is an outdoor play park and dog-approved eatery in Colorado Springs where you can dine inside with your dog.

Glens Falls, New York

Every year, there’s a Pet Fest held at City Park in the heart of town, a local favorite for pet owners and their pups to get out and socialize. Downtown offers great opportunities for pet-friendly patio dining, nearby Crandall Park offers fun for all-weather play, and, last but not least, the 2021 Puppy Bowl was filmed in Glens Falls.

Jacksonville, Florida

How about a dog park, craft-beer-and coffee-bar for you and your dog? Jacksonville has Kanine Social, a 7,000-square-foot indoor climate-controlled dog daycare facility with an additional 7,000 square feet  outside for when the weather’s nice, and even an indoor taproom where you can enjoy a beer with your on-leash pup.

Kansas City, Missouri

A great place to start pet-friendly adventures in KC is what’s been described as the local park system’s “crown jewel:” a dog park that winds through 1,805-acres of grassy meadows and lovely woodlands known as the Swope Park Off-Leash Dog Park.

Portland, Oregon

This city has plenty of meetups like the Pug Crawl and Pit Bull Parade for like-minded fans of specific breeds to gather and celebrate. The best place to get direct information about Portland and all its dog events, check out the Oregon Humane Society website. Portland has more dog parks per capita than any other city in the United States.

San Diego, California

The Most Paw-Friendly Cities in America in 2021
San Diego’s dog beach on Coronado Island is a popular spot to play and splash.

Among the best paw-friendly cities, San Diego has a little bit of everything for dogs and their owners. Whether you’re road-tripping it and passing through or you live here, this West Coast city has so much to offer. First of all, the annual Surf Dog Surf-A-Thon charity event is a must-see event every year (Dog Surfing Competition San Diego, 2020). Not ready to compete but still want to enjoy a day in San Diego? Try one of the city’s many spa-style dog-wash pup boutiques. Just want some beach time with your dog? Check out the dog beach on Coronado Island, where your pup can run off-lease and play in the sand.

Salt Lake City

Salt Lake City is especially good for all-weather dogs who don’t mind a bit of a cool breeze in the colder months. According to Visit Salt Lake, the city is a great place to be a dog. It’s also a great place to be a person who has a dog. Our four-legged family members force us to slow down a little, spend some time at the park, throw a stick on the hiking trail, sip just one more round of drinks on a sunny restaurant porch, or take a quiet stroll down the nearest nature path at dusk. All with our most loyal friends in tow.

San Francisco

San Francisco has 52 off-leash dog parks and beaches where dogs are welcome to run free and get nice and soaking wet so that they can splash their owners with a combination of sand and seawater when they shake themselves off. The biggest draw to San Francisco has to be Corgi Con, though. This annual event attracts up to 27,000 Welsh Corgi-loving people every year (except during the pandemic).

Seattle, Washington

Seattle has 15 dog-friendly hotels in the city. Explore any one of the 14 off-leash dog parks. Is your dog hungry? Flag down The Barkery, the Pacific Northwest’s food truck for dogs, as it goes on its daily rounds.

Tampa, Florida

Tampa Bay touts itself as the most dog-friendly city in Florida.  Consider dog-friendly hiking on the Al Lopez Park Trail, dozens of dog parks across the city, hundreds of eateries that throw their doors open for furry friends, and nearly 100 locations across the city that are welcoming to guests traveling with dogs.

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Few Large Cities Building Enough Housing to Keep Up With Growth

By
John Triplett
-
Few Large Cities Building Enough Housing to Keep Up With Growth

Only a few large cities built enough housing in the past 10 years to keep up with growth in general and job growth in specific, according to a new report from Apartment List and the Census Bureau.

Overall, cities in the Mountain West and the Sun Belt added the most housing the last 10 years, while cities in the Northeast, Midwest and Rust Belt cities such as Cleveland and Detroit failed to add enough.

“According to recently released data from the Census Bureau, the United States added over 9 million net new housing units from 2010 to 2020, expanding the nation’s housing inventory by 6.9 percent. Growth in new housing, however, varies dramatically by region. While some major markets are building enough to keep up with demand, many of the most sought-after metros are severely underbuilding,” the report says.

Job growth and housing not matching up

Few Large Cities Building Enough Housing to Keep Up With Growth

The study says that, using an example of one to two new jobs for every new home, “only four of the nation’s 25 largest metros met that threshold. The imbalance was greatest in Rust Belt cities, likely due to existing vacancies, and expensive coastal cities, which are notoriously supply-constrained.”

Job growth in a market signals the need for new housing and building. Cities with growing economies typically attract new residents who need places to live.

“If the supply of new homes cannot keep up with that influx, the homes that do exist will become prohibitively expensive, especially for lower-wage households,” the report says.

“A market that adds fewer homes may experience an undersupply of housing and a crunch on affordability, something we see playing out in many of the pricey coastal markets that have grown notoriously expensive over the past decade.

“This decade, just four of the 25 largest metros in the nation achieved housing growth in line with job growth.”

Conclusion

Few Large Cities Building Enough Housing to Keep Up With Growth

The report concludes that over the past 10 years, population grew quickly in the Mountain West and Sun Belt, “where sufficient housing supply met successful job creation. Job-rich coastal markets were in high demand, but their housing growth could not keep pace with jobs, limiting their growth potential.

“The rise of remote work, however, could be a catalyst for change in the housing market. If the link between work and home location is increasingly broken, the lifestyle preferences of remote workers may start to dictate the next shift in housing demand. The early signs already show that the 2020s pandemic recovery will look very different from the 2010s Great Recession recovery, and the changing landscape of American housing will follow suit.”

Pandemic Pricing is Over, As Rents Rise Rapidly In Most Areas

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Seattle City Council Deals Another Blow To Landlords Rights

By
By The Editors
-
Seattle City Council Deals Another Blow To Landlords Rights

The Seattle City Council has passed three ordinances restricting landlords rights involving evictions and lease renewals, according to reports.

The ordinances were described by officials as “renter protections.” The first says if tenants do not pay rent, landlords cannot initiate an eviction during the school year if there are students or educators living in the house.

Tenants will be able to cite the new city ordinance as a defense to eviction.

Councilmembers argued evictions can interrupt learning and create homelessness among children.

The ordinance defines children and students as anyone under 18 and anyone enrolled in child care through high school; and it will define educators as anyone working at a school, including teachers, janitors, counselors and cafeteria workers, according to reports. There are exceptions for evictions from condemned buildings, for criminal activity or if landlords move into their own rentals.

Councilmember Kshama Sawant (District 3, Central Seattle), chair of the Council’s Sustainability and Renters’ Rights Committee, said in a release, “By getting organized, today we won the nation’s strongest ban on school-year evictions, the resolution to extend the eviction moratorium, and the strengthening of our city’s eviction defense laws.”

Seattle City Council Deals Another Blow To Landlords Rights
Councilmember Kshama Sawant said, “Let’s continue fighting for a full Renters’ Bill of Rights – for rent control and to cancel COVID debt!’

Sawant also wants to cancel covid-19 renters debt and put rent control in place.

Landlords required to offer new leases to existing tenants

Under another ordinance passed, landlords are required to offer new leases to tenants before their existing lease expires and before seeking a new tenant further impacting landlords rights. This would bar landlords from allowing a lease to expire and then seeking a new tenant.

Councilmembers in favor of the new ordinance said it would close a loophole that allows landlords to evict tenants without cause.

A third ordinance passed in early June allows a COVID-19 defense against eviction if tenants have a large unpaid rent debt incurred during the pandemic. Tenants would need to sign declarations that they suffered financial hardships during the crisis.

Small landlords say “renter protections” are pushing them out of the market

A group of small landlords say the Seattle City Council actions are pushing them out of the business, and that they are being unfairly grouped in with policies aimed at corporate landlords.

“The impact on small mom-and-pop landlords is huge. And the effect of this kind of legislation is it’s going to push people like us out,” said MariLyn Yim. Her family owns and lives in a triplex in Seattle and rents the additional two units.

Yim argues the policies are aimed at corporate rental companies, and small landlords rights are being left behind.

“Every bill they craft is based on the assumption that landlords are greedy and rich and we have deep pockets and can pay for everything. Well, that isn’t all of us,” said Charlotte Thistle, who owns one rental property, in an interview with King5.com.

“When you have something like the eviction moratorium and you have one tenant who’s not paying rent, well, if you have one property that’s one hundred percent of your income,” Thistle said, “You still have to pay property tax, mortgage, and utilities. Nobody is giving us a free pass on those expenses,” she said.

Seattle Landlords And Housing: A Case Study in Crisis Creation

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11 Questions to Ask When Hiring a Property Manager or Company

By
Justin Becker
-
11 Questions to Ask When Hiring a Property Manager or property management Company

If you are looking considering hiring a property manager or property management company to handle your rentals here are 11 questions to ask when hiring a property manager from veteran Justin Becker.

By Justin Becker

If you’re the owner of residential real estate, one of your main aims is probably to earn the highest possible profits with the least possible hassle. After all, no landlord or owner can be there to supervise all their real estate all the time.

That’s where a reliable property-management company comes in. Of course, the most important word here is “reliable.” This is the company or property manager that will potentially be in charge of your investments and incomes. So, it’s important to have a vetting system in place.

Whether you have some mobile homes for sale or are part of a land-lease community, real estate investment isn’t cheap or easy to oversee. With an experienced company or manager by your side, the daily running of your property should become much easier.

When you hire an employee for any task, he or she must go through at least one interview. The same goes for a property management company; of course, the questions might be more detailed, since there’s so much at stake.

Not sure about what to ask your potential property managers? Let’s have a look at some of the top questions to keep in mind.

Questions to Ask When Hiring a Property-Management Company

Before you hire any property manager or property-management company, have these questions on your list:

No. 1: How Familiar is Your Team with Current Trends in Real Estate?

Real estate investment is a fickle game. So, you want to make sure to ask your potential property managers about the trends in place right now. This will show you how much market knowledge they have. That’s important for managing and maintaining your real estate in the best way.

Your potential property manager should be able to reach out and find reputable tenants to fill your property. This is an easier task than it was in the early 2000s, as the number of people renting property within the United States has gone up in various cities.

No. 2: How Do You Stand Apart from the Competition?

While it might be a bit awkward mentioning competitors to any potential property manager, this is a good way to filter out the really good companies. If you’re interviewing a genuine professional, he or she will  mention the competition respectfully and display knowledge of the local market trends.

Asking about the competitors will also bring the conversation to how this potential property-management company is unique in its pricing and services. The company representative should be able to explain what makes the company different and better than the rest. Ideally, they should also provide some client references so you can be sure about going ahead.

No. 3: What’s Your Company’s Record with Rental Properties?

If you interview a relatively new company, chances are that they won’t have relevant experience in the real estate industry. Their prices might seem affordable, but it’s just not worth taking the risk.

The questions you ask will tell you if the company is efficient and reliable enough to run everything properly. Even an expert can find it difficult to maintain real estate these days. So, you should ask to get in touch with previous clients as well.

You can also ask why and after how long precious contracts ended, whether there’s a record of unethical practices, etc. Such details are critical. So, don’t feel strange about asking.

No. 4: What Kind of Technology Do You Use?

Keeping up with real estate trends also means that modern property managers should stay updated on the most important digital tools. Almost every industry has made changes to incorporate software and other forms of technology to make its process easier and smoother.

Ideally, your potential property-management company should have software solutions that make its system easy to work for you. You should also be comfortable with the setup the company has, since this is what will be used to maintain your real estate.

The communication software the company uses is also important. This is how the company will get in touch with you. So, make sure that it fits your requirements.

No. 5: What Will the Income Structure Be Like?

One of the most essential questions to ask a potential property manager is about the income from your real estate. This usually means determining what the rent will be from the tenants. The answer to this concern lies in knowing how real estate works within your state, city, and specific area.

Make sure you know about the details of the rent formula from the property manager. This is also the point where you give your own views about the rent and how it’s set. That way, both parties will remain on the same page and can move forward without much confusion or resentment.

No. 6: How Will Rent Collection Be Handled?

Rent collection is usually be the responsibility of property-management companies. This is why it’s best to hire one that has been working with the latest solutions. With automated payments and online systems, you can be sure of quick, convenient collection on all sides.

If your potential property manager has a quality software solution in place, you should consider hiring him or her. With updated decent software, you can also rely on the accuracy of your transactions.

There’s also the fact that some tenants might want to pay cash or make payment through some other method. Question the company about any alternative solutions for such cases.

No. 7: Do You Have Credible Licensing for this Service?

Whether you’re interviewing family-owned property management companies or those with a more corporate structure, make sure their license is up to speed. Keep in mind that the different states will have varying licensing rules and regulations.

In addition to simply asking this question, you’d also have to conduct research on your own. See what qualifications are required for your region and ask the potential manager if he or she has the needed licensing.

To be on the safe side, ask for licensing proof as well. Certain states might require a more direct link to a known real estate organization. Others might require a real estate broker license before one becomes a property manager.

No. 8: Who Will Handle Maintenance Issues, and How?

One of the main concerns related to residential property management is that of repairs and maintenance. When a tenant experiences leaks, breakages, infestations, or any other problem, the issue must  get proper and prompt attention.

A homeowner in the United States can expect to spend one to four percent of their real estate’s value on its maintenance. Keep this in mind so that you’re not thrown off by sudden repairs.

Property management companies will usually be dealing with these issues. Be sure to ask about them during an interview. A manager’s way of dealing with work orders and experience will count for a lot.

No. 9: How Will Financial Responsibilities Be Divided?

Financial transactions are often a tricky business, but that’s why you have to be clear-cut in this area. Remember to inquire about the fees of the property managers or the property-management company. Both parties need to properly understand the financial section of the mutual agreement before moving forward.

One of the first details to sort out is the rent percentage that will go to the property manager or management company. If you do some research about the trends for paying such services, you can negotiate the fees in an informed manner.

It’s also logical to ask whether there are hidden fees anywhere. Make sure to read the fine print before signing anything!

No. 10: What Kind of Compensation Plans Does the Property Management Company Have?

Any potential property manager should know about repairs and maintenance issues. However, it’s also very important to clarify which party is going to be held responsible for handling costs associated with repairs or any damages. Make sure to have everything covered through a written policy.

When you ask a property manager about such a policy, you’re covering your own bases. No matter how careful a manager or managerial team is, damages to the property can still happen.

So, when you’re thinking about what questions to ask rental property management companies when hiring a property manager, make sure that the detailed compensation plan is near the top of the list.

No. 11: How Are You Going to Deal with Late Payments or Evictions?

The most difficult side of property management usually entails dealing with late payments by tenants or having to evict them for some reason. The property managers you end up hiring should be responsible and tactful enough to deal with such issues without incurring much damage. Such tasks can be complex, especially if the tenant is part of an HOA or some other influential group.

Nevertheless, you need to ensure that any manager under you should be getting those payments and evicting when necessary. In either case, they should also stay respectful and within legal limits.

The Takeaway

If you’re hiring a property manager to handle your condo, apartment complex, or any other form of real estate, there are probably many choices out there. Several new property-management companies will be glad to get the chance of serving you in exchange for a reasonable fee.

Once you know what questions to ask the property manager, the way forward will be a bit clearer. There are still several steps to take. But you’ll be able to make the important decision of hiring a company without any worries. Start searching for a reputable potential property-management company now. You’ll hopefully have the best one for your needs soon.

About the author:

Justin Becker is a property owner in the state of Michigan and has a passion for managing communities. He owns apartment complexes and mobile home communities, and has been writing his own blogs for his properties for several years.

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Ask Brad: Tenants Want to Know Why There’s a Dog in No-Pet Building?

By
Brad Kraus
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Ask Brad: Tenants Want to Know Why There’s a Dog in No-Pet Building?

Ask attorney Brad is a feature with attorney Bradley S. Kraus and this week the question is about tenants wanting to know why there is a dog in a no-pet building. If you have a question for Brad, please feel out the form below.

Dear Attorney Brad:

First, thanks for an avenue to ask questions.

The situation is having a no-pet policy and a no-pet building, yet having to allow/accept tenants to acquire or move in with a support/care animal. My question, how do I respond to another tenant’s asking/telling me there is a pet in the building? My understanding is that this comes under the medical privacy law.

–Deb

Hello Deb,

Thank you for your question. Your understanding is on point.

As a landlord, you cannot discuss another tenant’s accommodation requests or medical circumstances with other tenants. That would include the reasons why one tenant is allowed to have a dog (which wouldn’t be a pet, as assistance animals are not “pets”), even if the property doesn’t allow pets.

If other tenants begin asking questions, an appropriate answer is simply state that you appreciate them bringing this issue to your attention and that you will handle any issues in accordance with the law https://levivard.com.

If they press further, you can state that you are not allowed to discuss other tenants’ circumstances. There is no need to go any further into the details because (a) you should not, and (b) you cannot.

Thanks,

Brad

Bradley S. Kraus is an attorney at Warren Allen LLP. His primary practice area is landlord/tenant law, but he also assists clients with various litigation matters, probate matters, real estate disputes, and family law matters. You can reach him at kraus@warrenallen.com or at 503-255-8795.

Ask Attorney Brad: Tenants Want to Know Why There’s a Dog in No-Pet Building?
Bradley Kraus, Portland attorney

Ask Attorney Brad

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Ask Attorney Brad: How Do I Prove a Tenant Smoking Inside My Rental?

Is Incomplete Data Driving Eviction Policies?

By
John Triplett
-
Is Incomplete Data Driving Eviction Policies

The data driving eviction policies may not be complete, and in some cases may not be available, due to the  way court records and eviction reporting are broken down differently in multiple states and jurisdictions, according to the National Multifamily Housing Council (NMHC).

The council says they have done research and “complete data on evictions is severely lacking,” they said in a release.

The release comes on the heels of a decision by the D.C. Circuit Court of Appeals in early June turning down a request by landlords to resume evictions, arguing that the Centers for Disease Control and Prevention (CDC) overstepped its authority in issuing an eviction ban. The ban is set to expire June 30. The landlords have asked the U.S. Supreme Court to look at the case and block enforcement of the CDC order.

The appeals court decision follows U.S. District Judge Dabney Friedrich’s decision last month striking down the CDC eviction moratorium after finding the agency had overstepped its authority. But Friedrich, a Trump appointee, agreed to block the ruling from taking immediate effect to allow time for the Biden administration to appeal.

The NMHC said inadequate data “speaks to the hazard of one-size-fits-all federal-policy solutions.”

“The highly individualized nature of eviction proceedings and laws, along with locality-specific conditions that exacerbate housing instability like affordability and housing supply, calls for state and local solutions.”

Summary of data issues driving eviction policies

  • Existing evictions data is incomplete and, as a result, misleading;
  • Public-policy decisions and legal rulings are being made with flawed information;
  • Often, “mom-and-pop” property owners are at greater risk from eviction moratoriums;
  • Long-term solutions exist to support renters affected by the economic ramifications of COVID-19.

The NMHC argues that this incomplete data is finding its way into government policy and into the media and “causing some degree of confusion about the issue.” The council acknowledges it is difficult to get the data and information surrounding evictions and eviction practices.

More accurate information would help such as:

  • The number of eviction filings versus physical removals;
  • The reasons for eviction filings;
  • The amount of rent due when eviction filings were initiated;
  • An estimate of how much back rent was owed when eviction filings were initiated.

Other questions about the data the NMHC says might be helpful:

  • How have eviction practices and policies changed during the COVID-19 crisis?
  • Are evictions still being filed for monetary or non-monetary lease violations?
  • How is notice provided to residents?
  • Are written late notices given?
  • Are rental-assistance funds being used?

“While some of these may seem relatively basic, there is currently no way to collect accurate evictions data aggregated at a national level,” the council said.

Eviction moratoriums are unsustainable

The council said, “While well-intentioned, eviction moratoriums to address COVID-related hardships are unsustainable and ultimately do not address a renter’s underlying financial distress.

“Moreover, the severe lack of quality eviction data suggests there are few ways to target and measure the efficacy of such policies. The best eviction protection is ensuring that renters have access to resources to meet their financial obligations.”

The NMHC pointed out in the release that rental housing is dominated by mom-and-pop property owners and not big corporate owners.

“When eviction moratoria policies are treated as “rental holidays,” these individual property owners tend to suffer disproportionately – as do renters, who end up with fewer options.

“These ‘mom-and-pop’ property owners hold mortgages and are responsible for property taxes, insurance and payrolls. However, they also tend to offer more affordable rental options and are tightly linked with local community vendors who rely on them for work.”

The council said if these landlords decide to sell their rental housing and leave the market, this “directly reduces the availability of affordable housing.”

So instead of eviction moratoriums, the NMHC urged policymakers to “focus on effective ways to improve housing affordability and assist low-income renters. These include things like policies and programs that can greatly increase the supply of housing, increase funding for housing support programs, and deploy broad emergency financial assistance funds through simple and easy-to-access programs.”

 Will You Be Ready When the Eviction Moratorium Ends?

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