Property Management News

One of the best ways to see success in the real estate industry is to invest in properties and rent them out properly; essentially becoming a landlord. However, as many of you already know, being a successful landlord requires a lot of expertise that a new landlord may not have. Therefore it is incredibly essential for a landlord who wants to be successful to surround themselves with the following five professionals.  Realtor  Obtaining a professional and experienced realtor is one of the best ways to increase the chances of returning a profit. Having a realtor at your side can save you from making mistakes, such as purchasing a property in a less than desirable location or condition.... Read more

Rents typically rise in the spring, but according to Redfin, the median asking rent dropped by 0.2% in April. That trend is good news for anyone looking to sign a new lease but bad news for landlords — and it’s nearly a year in the making. Redfin data shows that rent growth cooled for the 11th straight month in April as demand continues to fall. On May 3, the U.S. Census Bureau reported that rental vacancies hit 6.4% in the first quarter of 2023, the highest vacancy rate in two years. So, why are landlords lowering their asking prices to lure tenants, and what’s driving the decrease in demand? Several forces are at play. Supply Caught, Then Outpaced, Demand The Redfin report... Read more