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Welcome to the AAOA Forum, where we discuss the the topics our members want to hear and want to talk about. We like to take an active roll in the online community to help our members learn and help educate landlords new and old. We encourage you to participate and join in our discussions. Thanks.
Apartments Offer Best Returns
by Howard Bell
In general, rental property is better positioned for this downturn than most other properties.
Why Do It?
According to the National Multi Family Council, U.S. apartments have provided the highest risk-adjusted long-term returns of all real estate asset classes and with less volatility.
1. Because investment income property is a cash flow business it has benchmarks and some standardized methods for determining value. Cash flow provides the investor with an objective evaluation tool.
2. Leases are generally one year, rental income makes relatively quicker adjustments than long term AAA leases or larger shopping malls etc. Apartment buildings have 12-14 month development cycles and can react in a timely fashion to the needs of the market place.
3. Apartments have a lower cost of capital and availability of debt capital thanks to Fannie Mae and Freddie Mac. Its a matter of policy.
4. Demographic trends are favorable. As a result, demand for rental housing in the U.S. is expanding at the strongest pace since the mid-1980s. Three million new renter households were created as a result of new household formation, declining rate of home ownership, foreclosures bringing new renters to market and the echo-boomers coming of age
5. The cost of gas and the time it takes to live in suburban/ex-urban areas is taxing and many people are moving back to city hubs for the convenience. Read the rest of this entry »
Posted by Kim Ezzell on 05.28.2009. CLICK to Leave a Comment »
Filed under: AAOA Forum
Tell Your Tenants to Shape Up
The health and fitness industry is exploding.
Even despite the crazy economy, there are over 30,000 commercial health clubs in the United States, and that doesn’t even include YMCA’s, JCC’s, Park and Recreation Centers, and others who fit the category.
People realize that their health is important, and health club memberships have only taken a slight decline in 2009.
But the number one rule in deciding which club a person will go to is convenience. Not equipment, not the bells and whistles, but the convenience. How long will it take to get there? Is it close to home? To work? In between? Now granted, other factors weigh into the decision after this, but if you can nail the convenience factor, chances are, you get a member.
What does that have to do with you as an owner or operator of an apartment complex or multi housing unit? Well there is nothing more convenient then a fitness center at home!
A fitness center in your complex is a winning selling feature, can generate revenue above and beyond your monthly rents, and in this economy, it can mean the difference between having rented units or more vacancies.
We will be providing a series of articles on how to set up and maintain a quality fitness facility at your complex, and possibly even make additional income off of it. Look for these features on the blog and in upcoming newsletters.
If you’re eager to get started and learn more right now, contact info@fitnessoutfitters.com or 866-369-3188, ext 0. Mention that you are an AAOA member to find out about discounts available to you.
See our feature, The Renter Demographic: Who Are They Now.
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at joinaaoa.
To subscribe to our blog, click here.
Posted by Kim Ezzell on 05.28.2009. 2 Comments »
Filed under: AAOA Forum
Converting Home to Rental More Difficult
by Tom Kelly, Inman News
The housing market has been as uncertain as the next monthly unemployment figures. Families have put home purchases and remodeling projects on hold, waiting for a positive sign in consumer confidence — or an upward, consistent move in the stock market — to make a big-ticket decision.
A friend of mine, whose two daughters are grown and gone, would like to remodel a home in the neighborhood, sell his present residence, and then move in to the remodel. Given the present conditions, he doesn’t feel he can do either. Read the rest of this entry »
Posted by Kim Ezzell on 05.28.2009. 2 Comments »
Filed under: AAOA Forum, Financing
Landlord Quick Tip
Landlords spend so much time dealing with problem tenants that it is easy to ignore the good ones. Have a tip to share? Email our editor at kim@joinaaoa.org.
American Apartment Owners Association offers discounts for landlords on products and services related to your rental investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.
For questions about our blog, contact our editor at kim@joinaaoa.org.
To subscribe to our blog, click here.
Posted by Kim Ezzell on 05.25.2009. 1 Comment »
Filed under: AAOA Forum
Mystery of the `Mud-Jacked` Driveway
Q: My cement driveway is about 25 years old and certain spots became “mud-jacked” about nine years ago due to “settling”.
Posted by Kim Ezzell on 05.25.2009. CLICK to Leave a Comment »
Filed under: AAOA Forum
Nipping Problem Tenant in the Bud, Part Two
by Robert Griswold
Q: I am an apartment manager and have some great tenants who always pay their rent on time.
But in the last year many of my tenants have fallen into a pattern of paying a little bit later each month.
This is becoming a real problem, and it almost seems like the tenants are talking to one another and conspiring.
Many of them still get it in just before the late charge kicks in on the sixth of the month, but the owner is now telling me he is worried that because so many tenants are paying late he won’t be able to pay the property mortgage when it is due on the 10th.
Do you have any suggestions?
Posted by Kim Ezzell on 05.25.2009. 2 Comments »
Filed under: AAOA Forum
Nipping Problem Tenant in the Bud
Q: I manage a very large rental property and while the majority of our residents are great, we do have an occasional “problem tenant” who is making life miserable for neighbors. A: You may be able to negotiate a voluntary move-out with your tenant.
Although you may feel strongly that your tenant should keep up his end of the lease, you may come out ahead by avoiding legal action and not having to worry about the problem anymore.
This column on issues confronting tenants and landlords is written by property manager Robert Griswold, author of “Property Management for Dummies” and “Property Management Kit for Dummies” and co-author of “Real Estate Investing for Dummies.”
E-mail your questions to Rental Q&A at rgriswold.inman@retodayradio.com. Questions should be brief and cannot be answered individually. Copyright 2009, Inman News
For more about Robert Griswold’s latest book, see Property Management Kit for Dummies, or visit the AAOA Store.
Share your insights by commenting below. For questions about our blog, contact our editor at kim@joinaaoa.org.
American Apartment Owners Association offers discounts for landlords on products and services related to your rental investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.
To subscribe to our blog, click here.
Posted by Kim Ezzell on 05.25.2009. 9 Comments »
Filed under: AAOA Forum
16 Cheap, Easy Ways to Save
by Jeff Adie
High heating, cooling, and water bills are not going away.
With this list of 16 cheap, easy-to-install upgrades, you owe it to yourself, and your tenants, to find a few that will work to lower your costs.
We are not talking major projects in this blog– just 16 low-cost improvements that you can easily accomplish that will help save our resources.
So, no more excuses! Read the rest of this entry »
Posted by Kim Ezzell on 05.21.2009. 1 Comment »
Filed under: AAOA Forum, Going Green
The Renter Demographic: Who Are They Now?
by Howard Bell
The rental demographic is changing. Are you keeping pace?
The Echo-Boomers
The children of baby boomers are now driving the rental market. They make up a third of the population and are a significant segment of the renter population.
This is a group of younger adults that grew up on the Internet, not television. They are wired, multi-cultural, and hold more traditional values than many of their parents.
The largest generation of young people since the ’60s is beginning to come of age.
The owner that understands this demographic will rent smarter and faster.
Posted by Kim Ezzell on 05.21.2009. 4 Comments »
Filed under: AAOA Forum
Dislike, or Discrimination?
by Janet Portman, Inman News
Q: I’ve been advertising for a tenant to occupy my single-family rental, and interviewed someone whom I just don’t like.
He didn’t look me in the eye; his answers to my questions were evasive; and he began asking about improvements to the house that aren’t necessary.
He has a job and appears to have enough income to pay the rent. He’s also a member of a racial minority. If I can’t point to anything besides my unease, am I breaking the law if I refuse to rent to him? –Jake W. Read the rest of this entry »
Posted by Kim Ezzell on 05.21.2009. 2 Comments »
Filed under: AAOA Forum