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Monetizing The New Tech Reality, Even If it Wasn’t By Choice

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By The Editors
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Monetizing the new tech reality in multifamily housing even if it was not by choice for apartment operators who scrambled to implement it.

Monetizing the new tech reality in multifamily housing even if it was not by choice for apartment operators who scrambled to implement it.

By Morgan Dzak

Multifamily housing has been propelled into a new era of leasing – and not by choice. Apartment operators had to implement new technologies out of necessity during the pandemic. But in the mad scramble to implement new tech, operators didn’t have adequate time to consider the long-term ROI.

Now that the dust has settled from the early days of the pandemic, operators have taken a step back to rethink their tech stacks and identify opportunities for monetization. Monetizing tech, like community-wide WiFi, smart-home technology and even AI, drives revenue growth, increases asset value and saves operators money.

Here are some ways operators have made that happen, and the opportunities that still exist:

WiFi: The modern tech stack foundation

 Community-wide WiFi is the modern tech stack foundation. It’s not only a feature that residents expect, but it powers other amenities such as smart-home tech, supports new leasing strategies, and enhances day-to-day operations onsite.

“Operators used to think connectivity was the responsibility of the resident,” said Shawn Mahoney, senior advisor at RET Ventures. “Ubiquitous WiFi is not only good for residents, but it’s even better for the operator. It’s the basis of modern leasing, maintenance, operations and the overall resident experience, and the enabling technology that lets operators and onsite teams try all types of strategies they probably haven’t considered before. Once you have true community connectivity, it’s difficult to imagine how you got by for so long without it.”

 Residents will pay for a service like WiFi on their own, but it’s not just a lifestyle-enhancing amenity anymore – it’s a requirement. Apartment communities that offer WiFi as part of the living experience can better accommodate the modern renter lifestyle and support their needs, whether it’s for work or play.

Operators are seizing revenue-sharing opportunities offered by suppliers. Typically, supplier partners and operators agree upon a per-door fee, or operators receive a monthly percentage of revenue. Some operators have opted to make a bulk purchase of – for example, $50 a month per door – then remarket and sell it to residents at a premium.

“There’s a lot of education that still needs to happen in the industry, and that’s one of the biggest challenges that has hindered some operators from taking that step,” Mahoney said. “Once operators realize they can charge for various tech amenities and ubiquitous WiFi, and see the results in their NOI, they won’t just take a step – they will sprint towards the opportunity.”

Community-wide WiFi also offers the benefit of roaming around a community without hitting any “dead zones” – areas commonly found in apartment communities where cell service can’t reach. This capability is essential to new self-guided tours, which require a connection without any interruptions. Reliable connectivity supports every step of a self-guided tour, from initial community access to navigating the community and the capability to contact the leasing team.

“Leasing teams can let a prospect on a self-guided tour into a community with remote access,” Mahoney said. “The prospect can tour the entire community and have a connection. The WiFi is a really big part of self-guided tours, from how prospects enter a community, to the entire tour experience. They’re checking photos, videos, floor plans and even maps during their tour, and if there’s a connection issue, that prospect is going to have some challenges during the tour. It impacts the entire experience and inevitably, lease conversion.”

WiFi enables self-guided tours, and if operators have community-wide WiFi in place, they can not only create a more efficient self-guided tour, but they can support a higher volume of tours. The better the experience, the more likely a prospective renter will sign a lease. The connectivity piece of a self-guided tour is crucial, and if operators can create better leasing experiences for prospects, they will see the results in the lease-conversion rates.

“WiFi is integral to the new tour types being offered,” said Andrew Kusminsky, CEO of GiGstreem, a ubiquitous WiFi provider. “The modern touring experience all comes back to the customer experience. Operators across the country are trying to create better experiences for renters because they see how it impacts the bottom line. The new leasing technologies definitely create better experiences for renters, but without WiFi, they’re not going to operate smoothly.”

Time is money

 Operators have heard the term “The Great Resignation,” and they’ve seen firsthand how it’s affecting  multifamily, notably in leasing and maintenance roles. With thinner onsite teams, operators are now seeing time as currency.

While self-guided touring has been revolutionary for the industry, so have other technologies like AI, automation and mobile maintenance. While these technologies aren’t necessarily being monetized like ubiquitous WiFi, time is currency, and the time savings from these technologies also affects the bottom line.

The maintenance process has evolved with technology, and maintenance teams are now receiving and completing work orders via a maintenance app on their phones, which streamlines the entire process.

“Work orders used to be sent to onsite staff in the office who would then page a maintenance technician to get the key, gather supplies and then go to the unit,” Mahoney said. “That process creates a lot of extra time when maintenance teams are not receiving work orders directly from residents. With mobile maintenance, technicians can receive the work order directly, respond faster and complete a higher volume of requests in the same amount of time. And they also need WiFi for this, so the operator’s WiFi investment isn’t just being monetized, but it’s also saving time in the maintenance process.”

AI chatbots and automation technologies also save time for onsite teams while presenting revenue opportunities. Most renters who look at apartments tend to ask the same questions about apartment-specific details, pet and parking policies, or when the pool or fitness center is open. For the most part, a bot can answer those questions, or they can be published on the website. These technologies provide renters with enough information to make a decision while reducing the lead burden on onsite teams, which keeps payroll costs in check.

“I would say for anyone who is a long-term holder of real estate, it’s very important that they’re looking at this stuff because the payback is fast,” Mahoney said. “The upfront cost may be daunting, but the value you get from it is tremendous and will certainly offset the cost. It’s really a no-brainer from both the operations side as well as the investment side.”

While these strategies aren’t necessarily monetizing tech, they’re still increasing net operating income (NOI) and adding to asset value. Some of the greatest NOI opportunities are expense reductions and on the payroll side. Communities are already working with thinner onsite teams, but technology allows current teams to do more with less.

“You can spread the same number of leasing associates out across more communities because the tech is really filling some of the gaps and streamlining many onsite processes,” Mahoney said. “Centralized leasing is a hot topic in multifamily and more operators are seeing the value in it from a resident perspective and also from a revenue standpoint.”

The industry will continue to evolve with new technologies and software integrations, and they will set the stage for how communities operate and make money. Overall, tech plays a central role in resident satisfaction – arguably the largest revenue-generator. As apartment companies continue to deploy technology into leasing and operations, there will be more opportunities to monetize that tech or save money from the efficiencies it creates and the long-term residents it attracts.

Morgan Dzak is an account manager for LinnellTaylor Marketing, which focuses exclusively on the multifamily industry and its technology space. She previously spent time as a digital content and marketing specialist for Cornerstone Apartment Services in Denver.

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Fire Pits, Tenants And Rental Property – Some Things to Think About

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By The Editors
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Fire Pits And Rental Property - Some Things to Think About

It is that time of the season so landlords should consider fire pits and rental property,  the maintenance tip this week from Keepe , which looks at some of the do’s and don’t for fire pits.

Fire pits are very popular, and no doubt your tenants have thought about gathering around one into the crisp evenings of fall.

However, some freestanding fire pits – especially in a common area – could be unsafe and present major hazards to both tenants and property landowners. So correct setup and handling of fire pits is important.

If you’ve decided to allow a fire pit on your property, there are things you can do to protect both your real estate investment and your tenants.

The pit should be placed far enough away from any residences and in a place where the ground is level.  Before starting to build a fire pit, you should check with the local ordinances about possible restrictions.

Fire or gas fire pits

These are two options for fire pits. When it comes to convenience, gas fire pits can produce instant flames. If you choose gas, you’ll need to change out the gas tanks when empty. With a wood fire, you’ll need to have a dry area for a stockpile of logs. For maintenance of gas fire pits, the gas valves should be cleaned regularly to avoid buildup. Log fire pits, on the other hand, don’t need much maintenance at all. Aesthetically, fire glass for gas fire pits can come in many different colors and give a very contemporary look to any outdoor area, while log fire pits give more of a rustic feel and look.

Fire Pits And Rental Property- Some Things to Think About
The pit should be placed far enough away from any residences and in a place where the ground is level.

 Permanent or portable?

If you have chosen a gas fire pit, you will most likely want it to be a permanent fixture. Portable fire pits are still an option for those who want to store them on a seasonal basis or move them around a common area or yard.

 Materials and size?

Most owners who choose a permanent fire pit tend to use stone, brick or concrete for the basis of the pit.

Portable fire-pit users can choose from many different types of metals, copper being the most popular choice. When choosing the right size, you don’t want the fire pit so big that it takes up too much of the yard or makes too big of a statement. You also don’t want it so small that it wouldn’t be ideal for a group to use.

Fire Pits And Rental Property- Some Things to Think About
With a wood fire, you’ll need to have a dry area for a stockpile of logs.

Fire pits and rental property safety

If you have a tenant who has installed or used a fire pit without permission, you simply cannot trust that they have taken the necessary precautions or that they understand the dangers and liability this brings to you as the property owner or manager.

Not knowing about a fire pit on your property won’t stop it from causing damage and injury.

Remember to monitor what your tenants are doing and if a fire pit is important for your property in a common area, take charge and get it done in a safe, responsible manner.

About Keepe:

Keepe is an on-demand maintenance solution for property managers and independent landlords. The company makes a network of hundreds of independent contractors and handymen available for maintenance projects at rental properties. Keepe is available in the Greater Seattle area, Greater Phoenix area, San Francisco Bay area, Portland, San Diego and is coming soon to an area near you. Learn more about Keepe at https://www.keepe.com

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18 Months of Outstanding Rent Growth Coming to An End

By
John Triplett
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18 months of outstanding rent growth is coming to an end as asking rents are falling in many national multifamily markets Yardi Matrix says.

Asking rents are falling in many national multifamily markets, bringing an end to 18 months of record-breaking rent growth, according to a special bulletin from Yardi Matrix.

The rent growth coming to an end and the decline in rent growth has been steadily expanding in multiple multifamily markets.

“Of the 136 multifamily markets that Yardi Matrix forecasts, 56 had month-over-month declines in asking rents in September, compared to 53 markets with declining rents in August and 18 markets with declining rents in July,” Yardi Matrix writes in the report. “Of the Yardi Top 30, 22 markets saw asking rents fall month-over-month in September, versus 21 markets in August and seven in July.”

Multifamily Rent Forecast Update

“After approximately 18 straight months of record-breaking rent increases in nearly all markets, national rent growth has ground to a halt,” writes Andrew Semmes, senior research analyst, in the report.

“As usual, most of the volatility is being driven by lifestyle buildings, where asking rents are down an average of 0.15 percent month-over-month across all 136 markets we forecast, and down an average of 0.41 percent month-over-month in the Yardi Top 30,” the report says.

More Than Just Regular Seasonal Decline

The report says while we are not in a recession, the chances for one are increasing in the next year.

“Our forecasts for the end of 2022 and for 2023 have broadly been revised downward, as the usual seasonal deceleration has been exacerbated by a more uncertain economic horizon in the medium term.

“Moving into 2023, we do not expect to see rents accelerate again nearly as much as they did in the first half of 2021 and 2022, but inflationary pressures remain high and employment gains are still very strong, so there is potential for a stronger-than-average jump out of the gate in the spring,” the Yardi report says. “However, eventually the Fed’s actions will noticeably cause inflation to fall and unemployment to rise, and when that happens rent growth will largely become anemic. Until the Fed’s policy moves work their way through the economy, though, we should expect a period of increased volatility,” Semmes writes.

Get the full report here.

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.

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Multifamily Rents ‘Hit the Brakes’ in September

Rental Price Drops Around The Country

Portland Rents Increase Again In October

Portland Rents Increase Again In October

By
John Triplett
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Portland rents have increased 0.3 percent over the past month, and have increased significantly by 4.7 percent in comparison to the same time last year, according to the latest report from Apartment List.

The report says median rents in Portland are $1,309 for a one-bedroom apartment and $1,528 for a two-bedroom.

This is the eighth straight month that the city has seen rent increases after a decline in January. Portland’s year-over-year rent growth lags the state average of 6.8 percent, as well as the national average of 7.5 percent.

Vancouver rents increased over the past month

Vancouver rents increased in October
Charts courtesy of Apartment List

Vancouver rents have increased 0.1 percent over the past month, and have increased sharply by 8.2 percent in comparison to the same time last year. Currently, median rents in Vancouver stand at $1,392 for a one-bedroom apartment and $1,604 for a two-bedroom.

Hillsboro rents decline sharply over the past month

Hillsboro rents decreased in October

Hillsboro rents have declined 1.2 percent over the past month, but are up sharply by 8.1 percent in comparison to the same time last year. Currently, median rents in Hillsboro stand at $1,831 for a one-bedroom apartment and $2,026 for a two-bedroom.

Beaverton rents also decline over the past month

Beaverton rents declined in october

Beaverton rents have declined 1.0 percent over the past month, but are still up by 12.5 percent in comparison to the same time last year. Currently, median rents in Beaverton stand at $1,605 for a one-bedroom apartment and $1,864 for a two-bedroom.

Eugene rents decline sharply over the past month

Eugene rents have declined 2.9 percent over the past month, but have increased by 7.1 percent year-over year. Currently, median rents in Eugene stand at $1,136 for a one-bedroom apartment and $1,564 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in July.

 

National Multifamily Rent Growth Hits A Wall In August

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Rental Price Drops Around The Country

By
John Triplett
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The monthly report reveals significant rental price drops throughout much of the country, according to Zumper.

The monthly report reveals significant rental price drops throughout much of the country, according to Zumper.

National one-bedroom median rent is down 0.8 percent over last month, to $1,491 and the two-bedroom median is down 0.7 percent to $1,832.

“ More than half the cities on our list posted month-over-month declines and 19 cities remained flat, leaving just 20 percent of Zumper’s top 100 list with month-over-month increases. This slowdown is showing up in our year-over-year figures, too: After 12 straight months of double-digit year-over-year jumps, the national median is up a slightly more reasonable 9.2 percent over October of last year,” the report says.

Some highlights of the report

  • Boston surpassed San Francisco to become second most expensive city in the United States—thanks, in part, to especially low supply in Boston (plus a slower pandemic rebound in San Francisco).
  • Both one- and two-bedroom prices are down at a national level. It’s the first time in two years both markers have declined in tandem.
  • More than half the cities on Zumper’s list posted month-over-month declines and 19 cities remained flat, leaving just 20 percent of the top 100 list with month-over-month increases.
  • Several factors are causing prices to slow—including rising vacancy rates in some markets, a return to more typical seasonal moving patterns and, above all, fear of recession. In response to a recent Zumper survey, 76.2 percent of U.S. respondents said they think we’re in a recession.

The report says the reversal of widespread price hikes is fueled by several factors, including rising vacancy rates in some markets, a return to more typical seasonal moving patterns and, above all, fear of recession.

In response to a recent Zumper survey, 76.2 percent of U.S. respondents said they “think we’re in a recession. Since high interest rates and inflation continue pushing potential buyers out of the market, we’re still seeing relatively strong competition for rentals and therefore don’t expect drastic price drops until supply and demand become more closely aligned. However, we do expect a significant amount of new supply will finally hit the market over the next six months, putting pressure on property owners to compete for residents and driving prices down even more.”

“In many metro areas, declining prices are actually a correction to prices that’d become overly inflated,” Zumper CEO Anthemos Georgiades said in a release.

“We saw historic levels of migration throughout the pandemic, as people switched to working from home and re-imagined their living situations. Now—with a turbulent, unpredictable economy causing fear of recession—migrations are slowing, occupancy rates are falling and rent prices are following suit.”

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SB 891’s Conclusion and What it Means for Landlords

By
Brad Kraus
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By Bradley S. Kraus
Partner, Warren Allen LLP

As the calendar turned to October, another important date has come and gone. I have previously covered Senate Bill 891 in depth, and readers may recall that October 1, 2022 was built into SB 891 as the sunset date for many of the bill’s provisions and changes to the Oregon Residential Landlord and Tenant Act. While a few provisions remain related to screening from the former law, SB 891’s departure brings back many of the normal rules and procedures landlords were familiar with prior to the COVID-19 restrictions frequently covered in this article series.

One of the largest changes landlords should be aware of is with respect to non-payment notices and timelines. COVID-19 saw changes to ORS 90.394, requiring non-payment notices to be 10 days long (along with the requirement of additional disclosures in the notice). Those changes have now sunset, and landlords can return to providing only 72 hours’ notice for their non-payment-of-rent notices. As a reminder, non-payment notices can only include full units of rent (partial payments are problematic) and may only be served on or after the eighth day of the rental period.

SB 891 disclosures

Landlords also no longer need to provide the SB 891 disclosures to which they have grown accustomed.

However, landlords should also be aware of, and take stock of, any prior evictions they have/had pending, and how they should proceed with them. As a reminder, many cases from months prior were set over until October if/when the tenant provided documentation that they had applied for rent assistance. Many landlords received that rent assistance, but any evictions related to those cases did not simply go away. In other words, they still must be disposed of through paper filings, or they remain on the court docket. If landlords had eviction cases in which they received rent assistance covering the amount stated in the notice, it is imperative that they dismiss that case as SB 891 previously required.

Many landlords have current cases in which they are either (a) still waiting on rent assistance and (b) have a case setover that is currently on the docket. Those landlords may proceed with their case when that date arrives as normal. While tenants may still apply for rent assistance, landlords are no longer required to pause and/or delay their non-payment eviction matters (in fact, they haven’t been required to do so after June 30).

Finally, landlords should be aware of the court docket situation in larger counties, and what they may mean going forward in the coming months. Many counties have dockets that are packed with setovers related to SB 891. As the court has only so much docket space to set cases, any eviction filings that occur within October could be delayed. This will result in first appearance dates that are more removed from the filing date. While unfortunate, it is a practical reality of what SB 891 required in months past. Going forward, as more cases resolve, those delays will subside, and landlord/tenant law will return to what it was pre-COVID (or as I call it, “in the before time . . . in the long, long ago”).

About the author:

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 [email protected] or at 503-255-8795.
SB 891’s departure brings back many of the normal rules and procedures landlords were familiar with prior to the COVID-19 restrictions frequently covered in this article series.
Bradley Kraus, Portland attorney

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The Perks and Pitfalls of Prepaid Rent

By
By The Editors
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Something that we are seeing more and more of industry-wide is prepaid rent so Scot Aubrey looks at the perks and pitfalls of prepaid rent.

Something that we are seeing more and more of industry-wide is prepaid rent so Scot Aubrey looks at the perks and pitfalls of prepaid rent.

By Scot Aubrey

The Saturday mornings of my youth were spent eating pancakes and watching cartoons on TV.  One in particular, Popeye, had a character named Wimpy who was a well-known cheapskate.  The line that defined his character most was “I’d gladly pay you Tuesday for a hamburger today.”

Of course, he rarely showed up on Tuesday to pay his debt; as a landlord, you may be all too familiar with this type of scenario.  On the other side of this is something that we are seeing more and more of industry-wide, and that is prepaid rent, where a prospective tenant might say “I’ll gladly pay you today for a roof over my head for the next 6 months.” For applicants that do not qualify for your property in a traditional way due to financial or other issues, prepaid rent may be an option that helps fill a vacancy and assists someone with housing.

As with anything outside the normal transaction, there are some rules to be aware of that vary from state to state so we always advise consulting your local landlord attorney on what works best for you.  With evictions on the rise, please review the following  guidelines to be aware of if presented with this unique way of collecting rent.

What Prepaid Rent is Not

Sometimes the best way to understand what something is, is to understand what it isn’t.  In this case, prepaid rent is not:

  • A substitute for criminal and credit background screening checks. Always adhere to your criteria in every situation and do not be tempted to change a “denied” applicant with disqualifying criminal or credit history into an “approved” as a response to their offer to prepay rent.
  • A security deposit: Most states limit the security deposit to 1.5 times to 2 times the monthly rent.  However, there is normally not a cap on prepaid rent amounts.
  • A holding account for your tenant to use when they need funds: The tenant must understand that they forfeit rights to this money until it has all been used to cover the agreed-to payments for the agreed-to rental term.
  • A source of funds for tenant late fees, court fees, or attorney fees.

As an example, if you collect $6,000 in prepaid rent and the rent is $1,000 per month, you have six months’ rent.  Nothing more, nothing less.

Looking for Volunteers

Don’t go running out and start shouting from the rooftops that you are now accepting prepaid rent for your property.  In every state this will immediately get you in trouble.  The key word to understand when discussing prepaid rent is voluntary.  I can’t stress this enough; the tenant must initiate any and all conversations regarding prepaid rent.  Any mention of it by you as the landlord could be considered coercion, and that will get you an automatic loss in court.

Get It in Writing    

If your tenant initiates a conversation about prepaid rent, make sure before collecting any monies that you have the agreement in writing.  Ideally you would have this included and agreed to in your lease.  If that’s not possible, we recommend creating an addendum that should be signed by both parties.  You can receive a free copy of our recommended addendum language by requesting it from [email protected].

Money Management

As recommended earlier, it is a best practice to create a separate account for each property where you can hold any prepaid rent.  Two important things if you accept prepaid rent are:

1) If, and only if a tenant is evicted from the property, you can use any remaining prepaid rent to pay for expenses related to the property that exceed the security deposit, and

2) No refunds of excess funds are considered returnable until the lease/contract has been completed and all accounting is completed.  Let me reemphasize that the security deposit and any prepaid rent are completely separate and should be managed in a way that you can verify their independence.

Ideally, every one of your tenants would come to you financially qualified with a crime-free history and no record of evictions.  In reality,  we know that many of your applicants may present issues that disqualify them from being the ideal tenant.  If they offer to prepay their rent, use this as a reference point and counsel with your landlord attorney to ensure you are following your local and state laws.

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 the weekly Rent Perfect podcast (available on YouTube, Spotify, and Apple) to stay up to date on the latest industry news and for expert tips on how to manage your properties.

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Reasonable Accommodation Forms: How Can They Be Helpful?

By
By The Editors
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Reasonable-accommodation requests can be completely obvious and straightforward. Still, more often than not, they require a little bit more due diligence or investigation to verify the need for what is being requested.

By The Fair Housing Institute

Reasonable accommodation requests can be completely obvious and straightforward. Still, more often than not, they require a little bit more due diligence or investigation to verify the need for what is being requested.

Along with that is the range of requests a leasing office can come across: accessible unit, live-in aide, and parking-spot requests, just to name a few. Forms are a practical way to help a leasing office gather the information needed to make a determination. But it raises the questions: What kind of forms should a leasing office use, and what should you do if a resident refuses to fill one out?

Best Practices for Reasonable Accommodation Forms

Many offices have a pretty basic or boilerplate type of form that they use. This is fine but can result in missing information that can be helpful when making a determination. Having forms specific to each type of request can help you avoid this. Also, pre-made forms can ensure that every resident is asked the same questions to avoid any appearance of discrimination.

For example, a resident is requesting that they need to change units because they have allergies and their next-door neighbors own a bird. Having a reasonable accommodation form that asks specific questions regarding allergies will help determine if the tenant has an allergy that meets the definition of a disability, therefore having an identified need which should be accommodated. But what should you do if a request is being made and the resident refuses to fill out your form, perhaps insisting that the doctor’s note they gave you is enough?

I Don’t Need to Fill Out Your Form!

We have all been there. A resident is requesting an accommodation but doesn’t want to do the paperwork. First off, you can try to defuse the situation by stating that the easiest way to get the ball rolling is to complete the form and that you would be happy to help them fill it out. Just be sure that the information contained and the signature authorizing the verifier to provide the information must be from the resident.

Another common hurdle we see is that a resident has brought in a note from their physician insisting that it is all they need to do. While it’s true –  we technically can’t require a resident to use or fill out a form – if the doctor’s note is missing critical information, then the verification process can’t move forward. Only then can you ask that a verification form be completed if there is needed information missing, with the form outlining the specific information required.

Reasonable Accommodation Forms – Final Takeaway

Having carefully created forms for specific reasonable accommodation requests helps to create a streamlined process and reduces the chances of miscommunication that can lead to a charge of discrimination. Having forms ready for your staff, along with proper training on how to execute them, will help your leasing office manage these requests and keep everything fair-housing focused.

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.

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America’s Best Landlord Contest Enter To Win Now

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By The Editors
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Enter the landlord contest here to win $10,000 in America's best landlord contest to recognize and reward landlords nationwide. Steadily, a top-rated landlord insurer, is running a national contest to positively highlight landlords nationwide.

Enter the landlord contest here to win $10,000 in America’s best landlord contest to recognize and reward landlords nationwide.

Steadily, a top-rated landlord insurer, is running a national contest to positively highlight landlords nationwide.

The contest launched October 2, 2022 at BPCON, the annual national event hosted by BiggerPockets, a community of more than 2 million real estate investors. Running through till October 31, 2022, the contest is an opportunity for the community to share personal stories, positively recognize and reward landlords, and deepen the relationships between landlords on social media.

“The past several years have presented rental property owners with many unprecedented situations”, says Darren Nix, Founder and President of Steadily. “The pandemic and economic downturn have challenged landlords to adapt and rethink their business in new and innovative ways. From rent relief, to offering options to pay rent via credit card, to quarantine baskets, and beyond – we’ve heard many positive stories emerge of landlords spreading kindness, and going above and beyond to help those in need. Steadily wants to recognize and celebrate the strength of this community, and highlight positive stories of the ways, both big and small, that landlords contribute positively to our lives. This contest is an opportunity to surface these stories, positively recognize landlords, and reward their efforts”.

The contest winner will receive a grand prize of $10,000, as well as their own content series on Steadily’s blog and social channels, a ticket to next year’s exciting annual BPCON event (2023), and a year of Premium Membership to the industry-leading landlord software and tenant screening platform, TurboTenant.

Enter the contest here

To enter, Steadily invites landlords and others in the rental property ecosystem to share their thoughts, experiences, and unique point of view on what makes a great landlord. Entries may be an Instagram feed post or video, and can be submitted by rental property owners, tenants, property managers, real estate investors, and others. Posts must be accompanied by the hashtag #AmericasBestLandlord to increase the discoverability of content among contest entrants and the broader community. Full content entry guidelines and prize pack information can be found on the contest landing page at Steadily.com/contest.

“Biggerpockets is a platform for real estate investors, empowering a community of more than two million members with education, networking, and tools to share ideas and connect with others in the space,” says Scott Trench, CEO of BiggerPockets. “Like Steadily, we believe in providing knowledge, support, and encouragement to rental property owners, as they navigate the complexities of this ever-changing industry. We are delighted to support Steadily’s efforts to highlight the positive impact of landlords within the broader community”.

The contest is hosted on Steadily channels and supported by a cross-channel awareness campaign, including content amplification on BiggerPockets and TurboTenant social media and email newsletters, and the BiggerPockets Podcasts. Influential voices in the space, such as @TheKeyResource, @BeckyNova24, @TheFiCouple, @BernaDebtJoy, and @BlackRealEstateDialogue, have also signed on to promote the campaign. Paid media channels include investments on Instagram, YouTube, Facebook, and the Investor’s Podcast Network.

About Steadily

Steadily was created by industry experts to offer the best landlord insurance service and a top-rated customer experience from quote request to claim resolution. Mobile-first and direct-to-consumer, Steadily is poised to rapidly remake the insurance segment. The company is dual headquartered in Austin, Texas and Overland Park, KS., and is backed by investors including Matrix Partners, Zigg Capital, Next Coast Ventures, Nine Four Ventures, and SV Angel. Learn more at https://www.steadily.com and stay in touch @SteadilyInsure and Facebook.com/SteadilyInsurance.

 

Apartment Owners To Pay $123,000 To Settle Discrimination Lawsuit

By
John Triplett
-
Apartment owners will have to pay $123,000 to settle a racial discrimination lawsuit according to the U.S. Department of Justice

The owners of several apartment complexes in Pearl, Mississippi, SSM Properties LLC, and Steven and Sheila Maulding, and their former rental agent, James Roe, have agreed to pay $123,000 to resolve a racial discrimination lawsuit, according to a release from the U.S. Department of Justice.

The U.S. District Court for the Southern District of Mississippi ruled in August that the defendants had violated the Fair Housing Act by discriminating against Black prospective residents.

The case began when the Louisiana Fair Housing Action Center conducted fair-housing testing at the properties.

“Based on the results of these tests, which showed that Roe treated Black and white testers differently and made discriminatory statements to the Black testers, the center filed a complaint with HUD. HUD conducted an investigation and determined that there was reasonable cause to believe that discrimination occurred, and referred the matter to the department, which filed this lawsuit. The testers subsequently intervened in the lawsuit as plaintiffs. The court found that Roe’s conduct violated the Fair Housing Act and held the owners legally responsible because Roe was acting as their agent,” the Justice Department said in the release.

“Housing discrimination has no place in our society and a person’s race should never determine where that person can live,” Assistant Attorney General Kristen Clarke of the Civil Rights Division, said in the release. “The Justice Department will continue to vigorously pursue and hold accountable those who would deny equal housing opportunities because of the color of one’s skin.”

“We will not tolerate discrimination in housing,” said U.S. Attorney Darren LaMarca for the Southern District of Mississippi. “Those who choose to deny equal housing opportunities will be held to atone for their conduct.”

Under the terms of the consent decree, which must still be approved by the court, the owner-defendants will pay $110,000 in monetary damages and attorneys’ fees to four Black testers and all the defendants will pay civil penalties to the federal government to vindicate the public interest. The consent decree also prohibits Roe from working at any residential rental properties and requires the owner-defendants to hire an independent leasing manager, implement nondiscriminatory standards and procedures, undergo fair housing training and provide periodic reports to the department.

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Fair Housing and Sexual Harassment – Staff and Resident Relationships

Landlord To Pay $135,000 In Sexual Harassment Lawsuit Settlement

Landlord Charged With Sexually Harassing Female Tenant

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