Archive for the ‘Rentals’ Category

Landlords Cash in on Higher Demand

Tuesday, June 12th, 2012

As Alex reported 6/16/2012 on Property Source Radio.
Realtor.org – Daily Real Estate News | Tues June 12, 2012
News Sponsored by WNYopenhouse.com
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Taking advantage of an increase in home owners-turned-tenants, apartment landlords are raising their rents and expect to continue to do so.

During the first quarter, monthly apartment asking rents increased 2.2 percent year-over-year, reaching an average of $1,070, according to Reis, a property research firm.

Vacancies are at lows and developers are trying to rush projects of multifamily housing to meet the increased demand from renters, but continued constraints on lending has put the brakes on many projects, particularly in smaller markets.

“I’m optimistic about the multifamily sector, certainly for the next two years,” Kevin Thorpe, chief economist at Cassidy Turley, a commercial property brokerage, told Investor’s Business Daily. “We’ve entered a period of sustained rent growth.

The reason behind analysts’ optimism: Young professionals are increasingly turning to renting and more than 3 million former home owners, who have been displaced by foreclosures or short sales, are turning into renters.

Demand for single-family home rentals is increasing too, according to CoreLogic. A four-month supply of single-family homes is now available for rent, which is down from five months a year ago, according to CoreLogic data.

Source: “Rents Rise as Apartments See Demand,” Investor’s Business Daily (June 7, 2012)

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More Home Owners Try ‘Reluctant Landlord’ Role

Sunday, November 20th, 2011

As Alex reported 11/19/2011 on Property Source Radio.
Realtor.org  – Daily Real Estate News | Tuesday, Nov 15, 2011
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More sellers who are tired of their home lingering on the market or don’t want to have to take a loss on their home are opting to become landlords instead.

For example, according to an article at NPR, one couple describes owning a two-bedroom bungalow in Oakland, Calif., which they purchased for $500,000, that was appraised recently at $260,000. When a job relocation was sending them across the country, they decided to rent instead of sell.

But becoming a landlord isn’t an easy role to step into, as some of these “accidental landlords” describe difficult tenants and constant problem or maintenance issues that require fixing.

The number of unintentional landlords is growing. About 2.3 million single-family homes became rentals during 2005 to 2009, a significant increase compared to about 700,000 single-family homes that became rentals during 2001 to 2005, according to Eric Belsky with Harvard’s Center for Housing Studies.

“The good news for the owners or the reluctant landlords has been that the rental market has been so good, they’ve been able to cover pretty much all their expenses and just been able to basically go on with their lives,” Ron Abrams with the Chicago Association of REALTORS® told NPR.

Source: “Would-be Sellers Become Reluctant Landlords,” NPR (Nov. 13, 2011)

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Rich Levin and The Housing Council on PSR – Listen NOW

Saturday, April 30th, 2011

House and Coyne have a full plate on Property Source Radio this Saturday with 2 guests. Rich Levin, a real estate “success” coach, and Joel Kunkler from the Rochester Housing Council.

Rich Levin is a nationally recognized real estate coach and shares some of his insights on both the Real Estate profession and the local real estate market. Even if you are not a real estate agent, you can apply a lot of his teachings to your own profession. If you would like more information about Rich Levin Success Corp – visit his website: RichLevin.com.

Joel Kunkler from The Housing Council talks about the upcoming Landlord Expo on May 7th at MCC Conference Center. The expo is filled with useful info for the Seasoned landlord to those looking to get into the business.

• Attend workshops with experts in their fields.
• Explore the exposition hall filled with a wide variety of products and services for your business.
• Meet Scott Mcgillivray from Home & Garden Television’s “Income Property”.
• Get the latest news to help you do business.

For more information and to pre-register for the expo – visit their website.

Listen to this show now!

This is Property Source Nation!

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Ribbon-Cutting Ceremony April 2, 2009 for “The Gardens”

Sunday, May 17th, 2009

April 2nd marked the groundbreaking ceremony for “The Gardens”, a unique and exciting community for active adults 62 years and older. Located in the community of Gananda, its peaceful 1,500 acres include a nature pond surrounded by a glacial hill, golf course, and picturesque farmland. You will enjoy the white tail deer, rabbits, turkeys and nature’s symphonic sounds that abound. Among the crisp air, you’ll find a beautiful community garden, greenhouse, and walking paths.

All apartments will be approximately 677 square feet and include a large living room/dining area, a modern kitchen and a spacious bedroom, along with a large bathroom, extra storage area, and a patio or balcony for some well-deserved R & R. For those that have a green thumb, a personal garden plot will be offered.

Overcome boredom as you meet new friends or nurture existing friendships with the many ways you’ll have to spice up your social life. Visit the Community Center that will offer card rooms and a fitness center or attend one of the many activities including several outings that will be planned.

Home Leasing Corporation owned by Nelson Leenhouts’ family is the builder and manager. Deborah Leenhouts, Nelson’s daughter would like to tell you all about it. Her goal is to help each resident live life’s golden years to their fullest. Call her today at 585-764-3535.  

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