Credit scores are one of the best ways for rental housing professionals to gauge an applicant’s financial competency and reliability. As you probably know, the closer the score is to 850, the easier it is to secure loans, lock in lower interest rates, and find housing. That’s all from a consumer standpoint, but what about… Read more »
Tips and Best Practices for Renting a Room in Your House
You may not realize it but when you decide to rent out a room in your house, you’re more than just a roommate; you effectively become a landlord. While the rules and regulations regarding roommates can vary based on your location, it’s important to know the details of being a landlord in order to make… Read more »
Rent Concessions During COVID-19: A Guide for Landlords and Tenants
Like most of the country, California has seen significant economic impact due to COVID-19. The executive orders from Governor Newsom have required many businesses to close or reduce their operations. Many citizens are still out of work; as of July 2020, the state unemployment rate was 13.3% – down from 16.4% in April. In addition,… Read more »
Tips for Adjusting Your Operations as States Lift COVID-19 Orders
As states have begun to lift stay at home orders, online searches for terms like “apartments for rent” have started to increase. With many renters now on the hunt for new housing, there are a few things you should start doing to prepare. First, it’s strongly recommended that you read through the Centers for Disease… Read more »
Roommates: A Guide for Rental Housing Professionals and Renters
For many Americans, roommates are a necessity. High costs of living coupled with low wages and debt have made it difficult for people to meet all their financial responsibilities in many areas of the country. Unfortunately, this trend shows no sign of slowing; if anything, it’s likely to increase with the economic fallout from job… Read more »
Streamline Your Rental Tours with the Best Virtual Tour Apps
Virtual tours have grown in popularity over the years; thanks to the development of smartphone capability and apps, property managers and landlords can show off their rental properties to many prospective tenants at the same time. Renters also benefit, as they can search for housing and view the properties they’re interested in without ever leaving… Read more »
How to Prepare for a Potential Wave of Evictions
Earlier this year, states rushed to put a halt to evictions in response to COVID-19. As some states have now begun the process of reopening, the multifamily housing industry may be at a crossroads with evictions. Eviction moratoriums are set to be lifted in several states, with courts scheduled to begin hearing eviction cases later… Read more »
Could Security Deposit Bans Be on the Horizon?
As a landlord, security deposits are one of the most vital tools you have. While these deposits can only be used in specific instances, they ensure you don’t lose out on money if the tenancy doesn’t go as planned. Unfortunately, security deposits are the latest rental policy to come under fire. The affordable housing crisis, in… Read more »
Fair Housing Considerations during COVID-19
With things changing rapidly in the rental housing industry, you may have missed the recent statement put out by HUD. The notice, titled HUD Statement on Fair Housing and COVID-19, has several key takeaways that are important to note. Fair Housing Laws Still Stand The first important takeaway is that fair housing requirements, as well as… Read more »
Protect Your Property with Roommate Screening
With inmate releases, pandemic-related job loss, and a potential wave of evictions on the horizon, we’ll likely see larger numbers of people choosing to cohabitate. What does this mean for you as a property manager or landlord? There’s a good chance one of your tenants may ask you to consider allowing them to have a… Read more »