Leasing

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. If you’re an owner, leasing agent, or property manager and you’re wondering where the qualified tenants are right now, history shows that many potential tenants looking for a change of scenery go quiet in November and December.

DON’T MAKE THESE MISTAKES WHEN SENDING KEYS IN THE MAIL

There are plenty of things you can’t legally send through the mail but keys are not on that list. Quite often we at Nexus will have keys mailed to us by outgoing tenants or onboarding owners and more often than not there are no issues.

6 REASONS OVER-EAGERNESS TO FILL VACANCIES QUICKLY CAN AND WILL BACKFIRE

From time to time we at Nexus Property Management® have conversations with owners with upcoming vacancies regarding when to start advertising the unit. Intuitively, owners want to get a new paying tenant in as soon as they can, to minimize lost rent, and in doing so they elect to advertise occupied apartments. Does this save time? Yes. But is it best practice? As an investor, your decision making should always hinge on long term results.

WHAT ARE THE TRICKS TO GETTING LATE RENT PAID?

A tenant owes money because their rent is late. TRUE OR FALSE: The property manager is responsible for rent collection so it’s their job to do all they can to collect that money for the owner that employs them? If you answered “true”, your enthusiasm can be commended, but regardless of what the task might be and who it might apply to (more globally than just property management), doing “all you can” is one of those phrases that can get you into trouble.

WITH DATA FROM THE APPLICATION IN HAND, WHAT MORE DO YOU NEED THAT IS WORTH THE RISK OF A DISCRIMINATION ACCUSATION?

Some property owners insist on meeting potential tenants before deciding whether or not they can rent their property. If landlords want to meet after they’ve already given their approval to place the tenants, that’s one thing; but to meet a prospective tenant and then after that meeting decide not to rent to them opens landlords up to accusations of discrimination.

PROPERTY MANAGEMENT SERVICE HIGHLIGHT: 

NEXUS’ RENT4U® PROGRAM  

The real estate market is in a funny place right now.

MASSACHUSETTS’ BUSINESS SPOTLIGHT: VETERANS’ INC. (WORCESTER) 

It’s that time of year when people around the country (and globe) reflect on their year and think about making improvements going forward. New Years represents that “fresh start” for so many people and we applaud everyone out there planning on taking steps toward a successful 2023. 

SHOULD YOU RENT TO FRIENDS OR FAMILY MEMBERS? 

IN TWO WORDS: ABSOLUTELY NOT 

As a property owner with rental property, there’s not much worse than an extended vacancy in one of your units. If finding a reliable tenant seems daunting or has proven difficult, it can be tempting to rent to friends or family. Perhaps someone close to you knows you have an available unit and they’ve come asking.