According to RentCafé’s year-end report for 2022, almost two-thirds of renters renewed their leases in a market still hindered by record home prices and rising interest rates. As many as 14 prospective renters competed for a lease at the national level for vacant apartments in 2022, on average, resulting in vacant apartments being occupied within […]
Property Management
Rents are down in 90 of 100 top cities as the market continues to cool
Rents were down in 90 of the nation’s 100 largest cities in December of 2022, Apartment List reports in January. In December, national rents declined by 0.8 percent for the fourth straight month. “We expect that 2023 will see bargaining power shift back to renters, and that rent prices this year will grow only modestly, […]
Fear of the unknown and the recession cause renters to put off moving
The Zumper State Of The American Renter Report shows that renters are hunkering in place until they have a better understanding of the market, and having trouble finding a home that suits their budget. “Rent prices are nearly always a harbinger of other economic indicators. We’re seeing pandemic-era trends begin to unwind, and we expect […]
Risk Management: Habitability in Property Management (Updated January 2022)
What is habitability and why is it so important? Essentially, it is anything that endangers the livability of the property and the health and welfare of the tenants. Many common issues are lack of heat, running water, major roof leaks, unsafe electrical, carpeting, stairways, or sidewalks, etc. When renting a property to others, whether […]
When is the Perfect Time to invest in Rental Property?
Quick Start Guide for Colorado Real Estate Investors This quick start guide outlines what Colorado real estate investors need to know to get started, and when is the perfect time to invest in rental property. It lays the foundation for putting together a long-term strategy. Colorado Springs Market Trends There are plenty of investment opportunities […]
Colorado Springs Home Sales Decrease but Prices are Rising
While home prices continue to rise, Colorado Springs-area home sales fell last month and the supply of homes for sale ballooned to a nearly three-year high – signs that rising mortgage rates are finally affecting the housing market. In June, the Pikes Peak Association of Realtors reported 1,712 sales of single-family homes and patio homes in the […]