Connecting You To Better Living®
Leasing
10 RECOMMENDATIONS TO HELP AVOID RISK AND BUILD STRONG RELATIONSHIPS AS A TENANT
As a property management company it is our responsibility to help maintain and add value to owners’ rental properties. The best way to do that is to empower tenants to view and treat the property as their own home. This means consistently treating them with respect. It also means making sure new tenants fully understand what is expected of them. We believe that happy tenants make happy owners and our primary goal is to provide hassle free tenancy.
YES, PETS WILL CREATE DAMAGE BUT IS NOT ALLOWING THEM YOUR BEST OPTION?
There’s no doubt about it, Americans love their pets. And more and more people are renting in recent years. That inevitably means more and more people with pets are looking to rent, so what are you to do if you’re a landlord? What is the best approach when it comes to renting your property and having a sound approach toward tenants’ pets?
10 SIGNS THE LANDLORD OF THE RENTAL YOU’RE INTERESTED IN WILL BE A PROBLEM
Markets can be funny things with lots of gravitational pull. With real estate prices so high and little sign of them coming down, rental prices have also risen dramatically. Financial responsibilities and obligations of rental property owners, like everything these days, continue to increase and ultimately it comes out as higher rents. Ideally, this also leads to higher quality rentals…but that’s not always the case.
GETTING THE PRICING RIGHT SETS THE TONE FOR A SUCCESSFUL RENTAL EXPERIENCE
There are natural ebbs and flows to all markets and rental properties are certainly no different. As housing prices skyrocketed and then stayed high despite elevated interest rates, owners who were brave enough to buy needed to increase their rent prices to help cover their new mortgage.
MORE PEOPLE THAN EVER ARE LOOKING TO RENT…HOW DO YOU SEPARATE YOURSELF FROM THE COMPETITION?
More and more people are looking to rent these days. A combination of increased housing prices and interest rates, along with inflation and other variables, has made it harder for people to buy homes of their own. Because of that, the tenant pool has never been deeper and if you’re looking to rent a quality place to live, it’s likely you’re facing a lot of competition.
THERE ARE THREE OPTIONS BUT ONLY ONE IS THE BEST CHOICE
More and more people are looking into renting their properties these days and that leads to a natural first question: Who’s the best person to lease your rental property for you? These days, with Youtube in our pockets, it’s more common for landlords to think they could likely do it themselves. Then there are some people who go to the complete opposite extreme and seek out a realtor.
HOW BEST TO DETERMINE THE LIKELY MARKET VALUE OF YOUR RENTAL UNITS
It’s simply beating a dead horse to talk anymore about how out of whack the real estate sales markets are and have been since the changes in supply, demand, and interest rates that followed the pandemic. When will sales prices come down? Who knows? How much will the interest rates come down this year? Not much. What else can we speculate about that won’t be all that helpful in the present? Plenty…but let’s not.
IS THE LARGE AMOUNT OF HIGHLY QUALIFIED TENANT CANDIDATES A GOOD THING?
It goes without saying that there is always a pool of prospective renters and current renters out there but that group has never been larger, or more highly qualified, than they are today. At first glance this sounds like a great thing but in reality it is just another downstream effect of the wonky real estate market and it’s hurting more stakeholders than it’s helping.
THERE ARE SO MANY QUICK AND EASY OPTIONS THESE DAYS…WHY NOT USE THOSE?
It’s never, in the history of the planet, been easier to exchange money. A Nigerian prince could email me right now and I could send him $500 to help his undoubtedly worthy cause by the time you finish reading this paragraph…what a beautiful thing!!! Peer-to-peer payment through mobile phones and the internet has revolutionized the sales and business world, but like so many things that prioritize convenience, it is not without its risks.
IS THERE A NATURAL CYCLE TO RENTAL UNIT DEMAND THROUGHOUT THE YEAR?
It doesn’t take over a decade in the rental real estate business and over a 1000 units under management to notice there are clear trends when it comes to rental property demand.
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Nexus Property Management
National Franchise Headquarters
49 North Union St
Pawtucket RI 02860
