Multifamily rents rose in the first quarter of 2025 and “early indicators suggest resilience for multifamily in 2025, but the looming impact of new policies and economic uncertainty casts a shadow,” Yardi Matrix says in its March report.
“While Northeast and Midwest metros post strong growth, oversupplied markets struggle, and the impact of new administration initiatives is yet to be seen,” Yardi Matrix writes in the report as U.S. advertised rents rose $5 in March, and rose by 0.4% for the first quarter of the year.
The rent increase was less than typically seen in the first quarter, likely due to the increased new apartment supply in some markets.
Highlights of the report
Multifamily performance maintained its strength at the start of the spring leasing season, as the average U.S. advertised asking rent increased $5 nationally in March to $1,755. Year-over-year advertised rent growth, which has held to a narrow range since last summer, fell 20 basis points to 1.0%.
Gateway-market performance is solid. New York and Chicago lead the top 30 matrix metros in advertised rent growth, and among gateway metros only San Francisco is below the national year-over-year 1.0% average growth rate.
Single-family build-to-rent advertised rates also had a strong increase in March, up $5 to $2,169. Gains were entirely concentrated in the renter-by-necessity segment, which is up 2.3% year-over-year. Nationally, advertised rents are the same as a year ago.
Reductions in immigration would affect demand to some degree and add to the economic uncertainty, the report says.
“Much about the rest of the year remains uncertain. Economic volatility is extremely high due to the imposition of tariffs, the rising number of layoffs and dwindling consumer confidence,” Yardi Matrix writes in the report.
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.
Fair housing training is a core part of operational risk management and costs of resolving fair housing complaints can far exceed the cost of training.
When recession fears rise, budget cuts often follow—and education directors are being asked to make hard choices. Training programs frequently top the list of cuts, especially those perceived as non-essential or deferrable. At first glance, trimming fair-housing training may seem like a logical decision. But beneath the surface, that cut often becomes a costly shift, moving risk and liability into a company’s blind spot.
Fair-housing training isn’t just a compliance checkbox; it’s a core part of operational risk management. Skipping or delaying it may offer short-term budget relief but open the door to long-term financial exposure. Companies often realize too late that the cost of resolving a single fair-housing complaint can far exceed the initial cost of consistent training.
The Real Cost of Non-Compliance
Across the property-management industry, professionals who handle internal audits and compliance reviews regularly see the same cycle: Organizations forgo training, assuming they can circle back later. But when a complaint is filed—often months or years down the line—they find themselves facing expensive investigations, attorney fees, staff disruptions, and sometimes public scrutiny. By then, the damage is done.
Many still assume that fair-housing complaints are rare. The truth tells a different story. For example, in 2021 alone, more than 31,000 complaints were filed. And while HUD may be the most well-known agency tied to enforcement, investigations also come from the Department of Justice, state agencies, advocacy groups, and private law firms. If one entity doesn’t take action, another often will.
Beyond the Legal Fees: The Ripple Effect
It’s easy to focus on penalties and settlements when thinking about the consequences of a fair-housing violation, but those are only part of the picture. The internal ripple effect can be just as damaging. Investigations pull employees away from their roles for interviews, document collection, and legal prep, hurting productivity and morale. Even a single investigation can stretch resources to the breaking point for small- to mid-sized companies.
There are also reputational risks. Even if a company settles or wins a case, the process can erode trust with residents and staff. That’s a hard cost to quantify, but it’s one that smart companies take seriously—especially in competitive markets where word travels fast.
Can Insurance Carry the Load?
Some organizations believe they’re covered because they have business insurance, but policies vary widely. Not all include coverage for fair-housing claims; even when they do, the support provided might fall short. Insurance carriers often assign their own legal counsel—professionals who may not specialize in fair-housing law. The result is a technically “covered” claim that’s defended with minimal insight or strategy.
This is not to say insurance is irrelevant. It’s a key part of a broader risk-management plan. But it’s not a substitute for prevention; relying on it as the only line of defense can lead to more expensive outcomes in the long run.
A Smarter Strategy for Tight Budgets
So how can property-management companies protect themselves when money is tight? The answer is smarter—not necessarily more expensive—training. Many firms are adopting online, on-demand training programs that allow teams to stay current without pulling them away from day-to-day responsibilities.
Rather than sticking with the same course year after year, effective training plans now rotate topics, address real-world scenarios, and incorporate lessons learned from recent case law or enforcement trends. This approach reinforces fair-housing principles while keeping the material relevant and engaging for staff.
Make Compliance Part of the Culture
Training should begin during onboarding, but it shouldn’t stop there. Companies that consistently incorporate fair-housing education into their cultures tend to stay ahead of risk. This might include short refreshers, policy reminders, or targeted sessions on emerging issues. The goal is to create an environment where compliance is second nature, not an afterthought.
In a challenging economy, the temptation to cut training is understandable. But some corners, when cut, come back to cost more than they save. Fair-housing training is one of those corners. It’s not just about staying compliant—it’s about staying in business.
About the author:
In 2005, The Fair Housing Institute was founded as a company with one goal: to provide educational and entertaining fair-housing compliance training at an affordable price at the click of a button.
The bottom line impact of tariffs on residential landlords is that it inflates costs of repairs and renovations and disrupts the supply chain we need for critical products. Here are 5 things landlords can do.
By Scot Aubrey
With all the talk about tariff–taxes imposed on imported goods–the general public tends to only imagine the impact they will have on manufacturing, trade, or retail.
But for residential landlords like us who own and manage rental properties, tariffs can have surprisingly significant consequences. From rising maintenance costs to inflationary pressures that influence rent dynamics, tariffs affect more than just international commerce; they impact our bottom line.
Repairs and Renovations will Get More Expensive
One of the most direct ways tariffs hit residential landlords is through increased costs of materials.
Many of the everyday items we use to maintain and upgrade our properties are imported; everything from light fixtures and appliances to flooring, plumbing parts, and even drywall. Prices rise with tariffs on these imported goods, which increases the cost of maintaining or renovating our rental units.
If you think about the items that we replace most often, they are likely made of steel and aluminum, which make replacement appliances, HVAC systems, and water heaters more expensive. Tariffs on lumber affect the price of framing, fencing, and decking. Even seemingly minor upgrades like cabinet hardware or lighting fixtures will become pricier if tariffs are in play.
If you manage more than one property, tariffs have the potential to create a financial squeeze you hadn’t planned on when you purchased the property.
Routine repairs become more expensive, and larger renovations—like kitchen remodels or roof replacements—require more capital. If you are operating on tight margins, these increased costs may delay necessary work or force you to make lower-quality choices that could affect property value or tenant satisfaction.
Tariffs Can Disrupt the Supply Chain
Key replacement parts and materials may become harder to source due to trade restrictions or backlogs.
With that, repair timelines stretch out, meaning you could be waiting on a critical component that without, your property is uninhabitable. The inability to place a tenant in the property can also place undue financial pressure on a landlord.
Extended vacancy means lost rental income—and in competitive markets, not having a unit ready in time can mean missing the seasonal peak in tenant demand. Landlords who rely on quick turnovers or who manage short-term rentals may be hit especially hard. It may be advisable to stock up on those items that fail more often to ensure your property is in good repair and ready for the next tenant.
Can You Pass the Additional Costs On?
In theory, landlords could offset rising costs by increasing rent.
In practice, it’s not always that simple.
For many of us, local market conditions play a huge role in rent flexibility. In high-demand markets with limited housing supply, it might be possible to raise rent to match cost increases. But in more balanced or competitive markets, raising rents could result in tenants leaving, leading to turnover costs and potential vacancies.
And if you happen to own rental properties in cities with rent control or rent-stabilization laws, they will cap how much a landlord can increase rent year-over-year. If you are a landlord in one of these areas, rising expenses from tariffs may not be recoverable through rent at all.
Time to Be Strategic- 5 Things Landlords Can Do
What can you as a landlord do to help offset or protect your investments against the economic pressures that tariffs introduce?
Source domestically where possible: While not always cheaper, buying American-made products can help avoid tariff-related costs and lead times. Local sourcing also supports domestic businesses and may improve quality control.
Plan renovations carefully: Scheduling upgrades during off-peak seasons, or opting for materials with more stable supply chains, can help avoid costly delays and price spikes.
Budget with more cushion: With costs possibly fluctuating more due to tariffs, landlords may need to increase reserve funds to cover surprise repairs or longer renovation timelines.
Lock in long-term contracts: For services such as lawn care, pest control, or routine maintenance, longer-term agreements can help keep costs predictable even if broader inflation rises.
Consider energy-efficiency upgrades: Tariffs may increase the upfront cost of certain appliances or systems, but energy-efficient investments can reduce long-term operating costs and appeal to tenants who care about sustainability.
The Bottom-Line Impact of Tariffs on Residential Landlords
The impact of tariffs won’t be felt just by big business; they will filter all the way down to everyday residential landlords.
Rising costs, delays, and broader economic shifts can make managing a rental property more expensive and complicated.
By staying informed and adjusting strategies accordingly, landlords can protect their investments, maintain healthy tenant relationships, and keep operations smooth—even as the trade winds change.
Being proactive, flexible, and budget-conscious has never been more important for rental property success.
About the author:
Scot Aubrey is vice-president of Rent Perfect, a private investigator, and a fellow landlord who manages short-term rentals. Subscribe to his weekly Rent Perfect podcast to stay up to date on the latest industry news and for expert tips on how to manage your properties.
Exclusions outline what your insurance policy does not cover. Carriers often exclude costly risks like earthquakes or those deemed the owner’s responsibility, such as wear-and-tear or mold. Insurance covers sudden, accidental damage, not gradual or preventable issues.
Knowing which losses are typically excluded helps clarify retained risks and prevent coverage assumptions. Some exclusions can be bought back by endorsement or separate policy.
Standard homeowners policies often exclude business-related losses, including those resulting from rental activities. Investors must have a policy designed specifically for investment properties to ensure proper protection.
Wear-and-Tear
Normal wear and tear is expected from regular use. As an investor, you should be prepared to pay for carpet cleaning or a fresh coat of paint between renters. Wear-and-tear and deterioration are industry-wide exclusions. These small “repairs” can be covered by the security deposit or accepted as the cost of doing business.
Intentional Tenant Damage
Many investors assume that any damage done by a tenant will be covered by their property policy. Intentional tenant damage is usually a sudden, one-time event and may include damage such as broken doors, missing appliances, or spray-painted walls. Damage done by tenants is typically excluded and not considered vandalism or theft to most carriers as you have a lease entrusting the tenant with the care of your property. That contract should stipulate penalties for misuse of the property, whether that be withholding the security deposit or filing a civil lawsuit.
Mold & Fungus
Standing water from floods, backups, etc. can cause mold within 24-48 hours. Coverage for mold, mildew, and fungus is typically completely excluded or very limited. As insurers differ, policy language may mention “mold,” “organic pathogens,” “mycotoxins,” or “penicillium.” Policies may also exclude wet/dry rot and bacteria. Some courts of law treat mold as a pollutant. As such, mold may not be covered if the policy has an absolute pollution exclusion. Mold can damage building materials and affect tenant health.
Sewer & Drain Backup
Tree-root blockages or clogs may cause sewage to back up through drains in the home. This water backup or overflow from a sewer, drain, or sump is typically excluded from standard property policies. For these losses to be covered, you’ll need to purchase a Sewer & Drain Backup endorsement.
Natural Disasters: Earthquake, Sinkholes & Flood
Standard property policies typically exclude damage from earthquakes, sinkholes, and floods due to their catastrophic and unpredictable nature. However, coverage is often available for all three through an endorsement or separate policy. Flood damage must come from an external source, such as overflowing rivers or heavy rain, not from internal plumbing or sewer systems. Most also exclude surface water, tides, waves, and overflow from any body of water.
Faulty Workmanship
Most policies exclude coverage for damage resulting from faulty structural work, like deck support failure or other construction defects. Even if a renovation property is properly insured under a Builders Risk policy, carriers typically exclude Faulty Workmanship to prevent overlapping coverage. Instead, any damage or negligence caused by a contractor’s workmanship should be covered under their own policy.
These exclusions reflect common limitations in standard investment property policies and do not represent the specific terms of any NREIG policy.
Have confidence in your coverage.
At National Real Estate Insurance Group, investment properties are all we insure. Our expert team can review your current policy, compare it with our offerings, and identify any gaps in coverage–all at no cost to you. Contact us today for your complimentary policy review.
About NREIG:
NREIG is a national, independent insurance agency, offering the most comprehensive, and flexible industry-leading insurance program for residential real estate investment properties. Our team of advisors and specialists delivers unmatched service and streamlined insurance solutions for investors with single-family and small multifamily rentals, renovation projects, and vacant homes. Seamlessly make coverage changes as your portfolio fluctuates and pay only for the coverage you need each month.
The Portland City Council has pushed back to committee a proposal to ban landlords from using rent-setting algorithms, according to reports.
The measure’s sponsor, Portland City Council member Angelita Morillo, asked that the proposed ban be moved back to committee because there is ongoing litigation involving the issue around the country with other states and cities.
According to govtech.com, Morillo’s statement was an apparent reference to real estate software company RealPage’s recent lawsuit against Berkeley, California, which has attempted to stop landlords from using its tools to set rents.
Texas-based RealPage said Berkeley’s ordinance, which goes into effect this month, violates the company’s free-speech rights and is the result of an “intentional campaign of misinformation and often-repeated false claims” about its products.
“It’s kind of with a heavy heart that I have to say this,” Morillo said while introducing her motion.
Subscribing to real-estate data services such as RealPage has become more and more common among landlords, but critics like Morillo argue the practice amounts to collusion that drives up rents for tenants because landlords effectively work in concert with one another.
A federal antitrust lawsuit filed last year accused RealPage of scheming to drive down competition among landlords. Oregon and several other states joined the civil lawsuit, which was updated in January to add six landlords.
Some municipalities have weighed or formalized measures to ban the use of rent setting algorithms locally, but RealPage fired back with its federal lawsuit against Berkeley in April.
A similar proposed ban in the Oregon Legislature died in the Senate Committee on Housing and Development. Senate Bill 722 got two public hearings and robust testimony but failed to advance before the cutoff date for lawmakers to vote it out of committee.
Most rental housing owners understand the general purpose of a will and its goal to carry out the deceased’s instructions after their death. However, too many hapless owners have overlooked the necessary requirements to ensure their will’s validity, thereby triggering a myriad of problems for their heirs.
Primary Requirements to Execute a Will
Even the most basic wills require one of the following events to occur in front of two or more witnesses: (1) the testator signs the will in front of the witnesses; (2) the testator directs one of the witnesses (or some other person) to sign the name of the testator and have that person actually signing for the testator also sign their name; or (3) the testator acknowledges that a signature previously made on the will without the witnesses present at that time, was in fact signed by the testator or signed at the testator’s direction. Further, those two witnesses must sign the will within a reasonable time before the testator’s death.
Modifying or Revoking a Will
Once a will is in place, the owner can revoke or modify it by (1) executing a subsequent will; or (2) burning, tearing, or otherwise completely destroying the current will for the intended purpose of revoking or altering the same.
The testator can even have another person carry out the latter acts at the direction, and in the presence, of the testator with at least two other people present to attest to the fact the testator did in fact direct that other person to take such action.
Witness as Beneficiary
The owner’s heirs and beneficiaries can serve as a witness during the execution of the will. However, it is not recommended that the owner’s heirs, or a beneficiary, also serve as a witness due to concerns of undue influence on the testator that could later create costly litigation.
Marriage and Divorce
Rental housing owners are not immune to the effects marriage and divorce can have on their estate.
If the testator’s will already includes instructions for a distribution of rental properties, marriage can trigger a revocation of that will, unless (1) the testator’s will shows a clear intent that it is not to be revoked by any subsequent marriage, or that the will was drafted in contemplation of the marriage; or (2) the testator and spouse entered into a written agreement before the marriage (e.g., a prenuptial agreement) specifying (a) what the spouse is to receive, or (b) that the spouse shall have no rights in the estate.
If the married testator divorces their spouse after execution of a will, the divorce triggers a revocation of (1) all provisions in favor of the former spouse, and (b) any appointment of the spouse as personal representative of the estate. (That’s why divorce judgments commonly describe the revocation of any previously executed wills.)
Who should be my Personal Representative?
Rental property owners should choose their personal representative carefully, as that person will be responsible for the testator’s estate.
An ideal personal representative would have property management experience, financial aptitude, and both the time and resources to maintain the properties with only limited direction from the testator’s will. Further, when there is conflict during distribution of the estate, it may become necessary for the court to exercise its authority and appoint a personal representative to resolve the issues.
There are a multitude of estate planning options available to rental property owners. Every owner is as unique as their estates and objectives. This short article offers only a handful of the different circumstances rental housing owners may experience when contemplating the proper execution of a will.
If you have more questions or would like to have Warren Allen LLP assist you in preparing and executing your will, please feel free to contact John Stromberg at 503-255-8795. You can also email John Stromberg, Attorney at Law, at stromberg@warrenallen.com.
About the author:
John Stromberg
John Stromberg assists clients in domestic relations, estate planning, and civil matters. He received his Doctor of Jurisprudence from Willamette University College of Law and attended the University of Oregon for his Bachelor of Arts degree. John Stromberg has experience litigating civil and divorce cases involving estates worth millions, as well as litigation for highly contentious custody, parenting time, and spousal support matters. He is a current member of the Multnomah Bar Association Service to the Public Committee and has appeared at events informing the local community of available domestic relations resources.
A Qualified Opportunity Zone (QOZ) Fund is an investment vehicle created under the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in economically distressed communities. These funds provide investors with substantial tax incentives while promoting economic development in designated Opportunity Zones, which are typically low-income areas selected by state governments and certified by the U.S. Treasury Department.
How QOZ Fund Tax Benefits Work
Investors can defer capital gains taxes by reinvesting the gains from the sale of stocks, businesses, or real estate into a Qualified Opportunity Zone Fund (QOF) within 180 days. Unlike 1031 exchanges, QOZ funds only require that a taxpayer reinvest their gains, not the entire sales proceeds. Investors’ original capital gains taxes are deferred until their 2026 tax payment (typically Spring 2027). If the investment is held for 10 years or more, investors also pay zero capital gains tax on the gains derived from their QOZ investments.
Benefits and Risks
QOFs, which are development funds, may have greater potential for appreciation than other buy-and-hold real estate investments. However, QOFs require a long-term commitment and involve market risks tied to the economic performance of the designated zones. There may be little or no income generated by the fund for several years, and real estate development presents much higher risk of capital than more conservative buy-and-hold real estate strategies.
Investors should carefully evaluate fund structures, project feasibility, and regulatory compliance before investing in a QOF. Consulting a financial advisor like 1031 Capital Solutions—and a tax professional—is highly recommended.
QOZ Tax Law Updates
As of March 2025, the tax deferral provisions under the Qualified Opportunity Zone (QOZ) program are legislatively set to expire on December 31, 2026. This means that taxpayers who have invested in QOFs are required to recognize their deferred capital gains as taxable income by that date.
In recent years, bipartisan efforts have been made to extend these tax incentives. Notably, legislation was introduced in the 117th Congress to prolong the deferral period, but it did not advance. The proposal was reintroduced in the 118th Congress, which is currently in session, but as of now, it remains pending without enactment.
Given the current legislative landscape, the likelihood of Congress extending the QOZ tax deferral provisions beyond 2026 is uncertain. While there is ongoing discussion and some legislative proposals aiming to extend these benefits, no definitive action has been taken to date. Investors should stay informed about legislative developments and consult with tax professionals to navigate potential changes to the QOZ program.
In this webinar, Jimmy Atkinson details how Congress and President Trump will work together to both extend and renew the Opportunity Zone tax incentive in 2025… before it’s too late, including eight new ideas that are being considered to improve the OZ legislation.
1031-Qualified Fractional Mineral Rights Interests
Investing in fractional mineral rights interests allows individuals to own a portion of the subsurface resources of a property, such as oil, gas, coal, or precious metals. Unlike traditional real estate, mineral rights ownership provides income potential through royalty payments when resources are extracted by energy companies.
How Fractional Mineral Rights Work
Fractional ownership means multiple investors share rights to the minerals beneath a property. These rights are often leased to companies that extract resources, providing passive income in the form of royalties. Since these rights can be bought and sold separately from the land, investors can diversify portfolios without owning physical real estate.
Benefits and Risks
Passive Income: Earn royalties without active management
Inflation Hedge: Commodity prices often rise with inflation
Diversification: Non-correlated asset class for investors
Market Volatility: Prices depend on global demand for resources
Legal Complexity: Ownership verification and lease agreements require due diligence
Environmental Regulations: Policy changes may impact extraction
Getting Started
Investors can acquire 1031-qualified fractional mineral rights through qualified brokerage firms like 1031 Capital Solutions, that offer syndicated programs designed for 1031-exchange investors. Due diligence is critical to making informed decisions. Consulting a qualified tax professional or attorney can help ensure IRS compliance and mitigate risks.
“Pre-REIT” Exchange Investments: Combining IRC 1031 and IRC 721
IRC Sec. 1031 allows investors to defer the payment of capital gains taxes when selling investment property and exchanging into other qualified investment property. IRC Sec. 721allows investors to transfer their interests in a property to the operating partnership (“OP”) of a REIT. Some sponsors of 1031 DST programs have combined these two tax advantages into one strategy, creating an opportunity to exchange today into a “Pre-REIT” property, ultimately with the intention of owning OP units with enhanced redemption options.
How Pre-REIT Exchange Investments Work
Investor sells a rental property and exchanges it for interests in a 1031 DST property
The 1031 DST sponsor is affiliated with a public REIT; property often is already part of the REIT portfolio
The investment period in the 1031 DST is typically two to three years
Thereafter, the DST shares are exchanged for units in the OP of a non-traded REIT
OP distributions mirror REIT distributions; investor receives a Schedule k-1
Depending on the REIT, units may be redeemed by the REIT or sold on an exchange
Alternatively, investors may hold their OP units until death and benefit from a step-up in basis
Benefits and Risks
Most non-traded REITs with “pre-REIT” exchange options are large, institutional portfolios offering diversity across various sectors, lease durations and geographies. Net asset values(NAVs) are calculated daily but are based on the actual underlying real estate values, rather than a constantly fluctuating stock price. After a one-year hold, healthy non-traded REITs typically offer redemptions capped quarterly (usually 5% of NAV).
No secondary market exists for DSTs, there is no guarantee of principal or income, and the REIT redemption program may be suspended. There is no guarantee that a REIT will exercise its option to purchase its pre-REIT DST. All macroeconomic and financial market risks apply to real estate investments, regardless of the investment vehicle and structure.
Disclaimer: The inclusion of any links to third-party websites in this article is provided solely for informational purposes. Richard Gann and 1031 Capital Solutions are not responsible for the content, accuracy, or availability of these external sites, nor do they endorse or have any affiliation with those sites.
About the author:
Rick Gann
Richard (Rick) Gann is a graduate of UCLA and California Western School of Law. He has been a member of the State Bar since 1997. Before transitioning to financial services, Rick practiced law for nine years in the fields of real-estate taxation and estate planning. Rick proudly helped numerous clients manage taxes on their real-estate holdings and investments. Rick’s inspiration for helping property owners came from his grandfather, Paul Gann, author of California’s Proposition 13, which lowered property taxes and sparked a nationwide movement of fiscal conservatism.
The contents of this article are for informational purposes only and do not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers are only made through the sponsors Private Placement Memorandum (PPM) which is solely available to accredited investors and accredited entities.
There are material risks associated with investing in real estate securities and 1031replacement properties such as Delaware Statutory Trusts (“DSTs”) and Real Estate Investment Trusts (“REITs”), including liquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of newsupply coming to market and softening rental rates, general risks of owning/operatingcommercial and multifamily properties, short term leases associated with multi-familyproperties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal.
There are material risks associated with investing in Qualified Opportunity Zone Funds (“QOFs”), including changes in national and local economic conditions, changes in the investment climate for real estate investments, changes in the demand for or supply of competing properties, changes in local market conditions and neighborhood characteristics, the availability and cost of mortgage funds, the obligation to meet fixed and maturing obligations (if any), changes in real estate tax rates and other operating expenses, changes in governmental rules and fiscal policies, and changes in zoning and other land use regulations, environmental controls, among other factors.
There are material risks associated with investing in mineral rights interests, including the risk that wells will not provide enough revenue to return the amount of your investment. The
revenues are directly related to the productivity of the underlying wells, which is volatile and cannot be predicted. Further, if oil and/or gas prices decrease, then your investment return may decrease even if production increases. There is a very limited secondary market for fractional mineral rights interests.
Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory services offered through Concorde Asset Management, LLC (CAM), an SEC registered investment adviser. 1031 Capital Solutions is independent of CIS and CA
The median overall rent in Salt Lake City stands at $1,253, roughly the same as last month, according to the April report from Apartment List.
Rent prices remain down 4.5% year-over-year in the city as rent growth over the past year has fallen behind both the state (-2.9%) and national averages (-0.4%).
City rent growth in 2025 pacing similar last year
Three months into the year, rents in Salt Lake have risen 0.3%.
This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to March 2024 rents had decreased 0.1%.
In city rents are 13.6% lower than the metro-wide median
Across the metro area, the median rent is $1,450 meaning that the median price in Salt Lake City proper ($1,253) is 13.6% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at -2.8%, above the rate of rent growth within just the city.
The table below shows the latest rent stats for 10 cities in the metro area that are included in the Apartment List database.
Among them, Draper is currently the most expensive, with a median rent of $1,890. South Salt Lake is the metro’s most affordable city, with a median rent of $1,241. The metro’s fastest annual rent growth is occurring in Sandy (2.1%) while the slowest is in West Valley City (-7.5%).
8 spring maintenance items to check inside and outside your rental property to keep tenants happy and protect your investment.
By Finnmark
As weather gets warmer, it becomes easier to begin projects that would have been difficult or even impossible to complete during the wet and cold of winter. Here are eight spring maintenance rental-property checklist items for both inside and outside your rentals this spring, provided by Finnmark Property Services.
Here are 8 key spring maintenance items to check
Inspect the exterior for damage or wear, especially the roof. It is best to hire a professional to climb on the roof and check for cracks that might cause interior leaks.
Test smoke and carbon monoxide detectors. Sometimes it is unclear whether the tenant or maintenance should check batteries, so be sure everyone knows who is responsible.
Check for leaks or water damage indoors. Windowsills and entryways can easily develop cracks. Those cracks make it possible for critters to enter the property while also contributing to straining the heating, ventilation and air-conditioning (HVAC) system. A professional can easily reseal cracked thresholds.
Maintain exterior surfaces. A cleaning and pressure-washing specialist can assess the conditions of a property’s exterior siding and recommend whether it should be thoroughly cleaned. Cleaning dirt and debris from siding keeps mold and fungi from growing and should be a part of spring rental-property maintenance.
Complete roofing, siding or concrete repairs. Check for any interior leaks. Additionally, natural debris – such as leaves and branches – can easily collect on the roof during the winter, which makes the spring a good time to schedule a roof-cleaning service. If your property has an exposed brick or concrete foundation, check for cracks and signs of deterioration.
Schedule your big capital construction projects for spring.
Resolve any outstanding water-damage issues. After a winter of snow or showers, it is necessary to check whether any water remains undrained around the property. Noticing whether puddles fail to disappear after 24 hours is one way of gauging this. If water fails to properly drain, moisture can easily increase around the property’s foundations and walls.
Assess for mold problems and address as needed. Often, heightened moisture levels within or around the property causing water damage to walls and floors can facilitate mold growth.
About the author:
Finnmark Property Services offers a range of maintenance and construction/capital-improvement services to apartment and HOA communities throughout Oregon and Washington. Our team of trained professionals helps maintain the beauty of your community and build the value of your investment.
Fair Housing Month this year comes when federal policies are in a more significant transitional moment than they have been in the past, so here is a checklist for success.
By Kendall Pretzer
April is Fair Housing Month, and it’s never too early to review the policies that keep properties compliant and without issue.
As fair-housing regulations continue to evolve, new challenges and opportunities for multifamily owners and operators are ever-present. Compliance with fair-housing laws is both a legal requirement and an ethical responsibility.
Fair-housing policies have become crucial, and property teams continue to adapt to new regulations and expectations to create more inclusive communities and avoid legal and financial consequences.
Fair Housing Policies in 2025
Fair Housing month this year comes when federal policies are in a more significant transitional moment than they have been in the past.
As changes begin to take effect, fair-housing education for multifamily is more imperative now than it has been in years. An aggressive approach to communication and training will ensure that onsite teams are current on regulations and following the most recent policies and procedures for their community.
What regulations will remain in place has yet to be seen as the federal government begins making sweeping changes to the U.S. Department of Housing and Urban Development (HUD), most recently bringing an end to Affirmatively Furthering Fair Housing (AFFH) policies.
Other policies that may or may not remain include:
“Ban the box” initiatives limit the consideration of criminal history in housing decisions
Language-access requirements that mandate essential information to appear in multiple languages
Oversight regarding algorithmic bias in resident-screening
Disclosure of environmental risks and offering incentives for improvements in disadvantaged areas
Reasonable accommodation policies that cover a broader spectrum of disabilities, including mental health and chronic conditions
Regulations surrounding pre-existing conditions and establishing enhanced health and safety standards
Economic-diversity initiatives covering zoning requirements and mixed-income development incentives
Changes on the federal level, however, do not necessarily affect fair housing on a local level.
Federal policies serve as a baseline, and states and metropolitan areas may expand protections to better serve their demographics. Traditional protected classes have expanded in some regions, which may require updates to policies and practices. In addition, property teams may encounter local regulations where systemic discrimination is in greater focus.
The role of technology in property management also brings new considerations. While it streamlines processes, owners and operators must ensure these tools do not perpetuate biases.
Leveraging Technology for Fair-Housing Compliance
There are several ways to make this easy on teams.
The right technological tools can streamline processes, reduce errors and provide valuable data for decision-making. AI-powered screening tools help eliminate unconscious bias in resident selection by focusing on relevant criteria, and regular audits ensure these systems remain unbiased and practical. In addition, these tools will be valuable for keeping track of critical regulatory and legislative changes.
While technology offers numerous benefits, it remains a tool that must be coupled with strong company policies and a genuine commitment to fair-housing principles. As we progress through 2025, technology integration in fair-housing practices continues to be essential in creating more equitable housing communities.
Building Inclusive Communities
Building inclusive communities is a cornerstone of fair-housing practices, emphasizing environments where diversity thrives beyond basic legal compliance.
Creating a sense of belonging is the sum of many parts. While inclusivity is traditionally thought to be achieved through cultural events that celebrate diverse traditions and promote understanding among residents, property development now incorporates inclusive design principles, such as flexible floor plans and multigenerational amenities that accommodate various abilities and ages.
Building truly inclusive communities requires sustained commitment and creativity. As we progress through 2025, the emphasis on creating spaces where every resident can thrive continues to grow, reflecting broader societal shifts toward equity and inclusion.
Navigating Challenges and Consequences of Non-Compliance
Property managers will always face evolving challenges in fair housing, requiring a strategic approach and adaptability.
Clear policies are required to balance fair housing with community standards. Navigating these challenges demands ongoing education and a proactive stance. By focusing on compliance and seeking expert advice, teams can manage the complex fair-housing environment.
The stakes for fair-housing violations are higher than ever, and pre-leasing season is the time to make sure your compliance is up to date. Legal consequences include an increased risk of lawsuits, as more accessible legal resources make litigation more common. Financial penalties have also increased, depending on the severity of the violation.
Fair-housing violations also pose a risk to reputation leading up to peak leasing season.
In today’s digital environment, discriminatory incidents can quickly spread via online platforms, damaging a company’s brand and making it difficult to attract prospects and retain residents. These consequences affect operations in a competitive market, making fair-housing compliance crucial for property teams.
Checklist for Fair Housing Success
Teams need a comprehensive checklist of fair-housing regulations and how they function at the community level to ensure compliance and foster inclusion.
Following this checklist helps create inclusive communities while maintaining compliance, and consistent implementation ensures that properties lead in promoting equitable housing. Implementing fair-housing practices in 2025 requires a proactive and comprehensive approach. Property managers must integrate these practices into daily operations and organizational culture.
The following is a policy and procedure checklist to help teams get started. You can also reference this free fair-housing tool kit here.
Policy Checklist
Policies should make it clear to employees that treating applicants or residents differently based on membership in a protected class is prohibited.
Ensure your sexual harassment policy lists prohibited behaviors and includes multiple avenues for reporting.
Assistance animals are not pets, so be sure to have policies specific to assistance animals that are separate from pet policies.
Evaluate company policies for any unintentional discriminatory effect they could have on groups protected by federal, state, and local Fair Housing law.
Create a policy that encourages employees to come forward if they witness or become aware of sexual harassment or other forms of illegal discrimination taking place.
Review your screening policies, particularly those regarding criminal-background checks, to ensure they comply with federal, state and local laws.
Assess policies and procedures for dealing with “nuisances” as defined by local nuisance ordinances and evaluate whether they are compliant with the Fair Housing Act (FHA).
Procedure Checklist
Apply policies equally to all residents; avoid any preferential treatment.
Train employees on how to avoid discriminating against a protected class (race, color, national origin, religion, sex, disability, and familial status), including ways they might discriminate unknowingly.
Advise employees against using any language, written or spoken, that could be construed as discouraging someone from leasing based on their protected class.
Apply rules about religious gatherings consistently, fairly, and equally.
Consult legal counsel before evicting a resident who has accused your company of discrimination or harassment, regardless of the reason for eviction or whether the accusation was made directly to you or the authorities.
Ensure that training clearly addresses the types of behaviors that could be sexual harassment.
Avoid language or imagery in marketing materials that suggest you are targeting people of a particular race, color, national origin, religion, disability status, familial status (including pregnancy) or sex.
Avoid comments, advertisements and postings that state “adults only” or “no children allowed.”
Be consistent and do not selectively apply local nuisance ordinances to residents in accordance with HUD guidelines.
Promptly investigate all complaints of harassment or discrimination.
About the author:
Kendall Pretzer
Kendall Pretzer brings more than 30 years of experience in property management and supplier solutions to her role as the chief executive officer at Grace Hill.
About Grace Hill
Grace Hill provides technology-enabled performance solutions designed to help owners and operators of real estate properties enhance property performance, mitigate operating risk and cultivate top talent. Get the free fair-housing tool kit here.
