October 04, 2013 By mortgage
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Category Archives: Rentals
CoreLogic recently released its Rental Applicant Risk report for the first quarter of 2013, and it looks promising for consumers on the hunt for a place to rent this year. The report provides market-based research intended to shed some light on the housing market specifically for renters. Their Renter Applicant Risk index evaluates applicants’ credit quality and their risk of default, and the RAR index for the first quarter of 2013 is at a healthy 104, up 2 points from last year and up from 99 at this time in 2011.
In most areas, keeping residents and your rental property safe doesn’t require bars on the windows and doors. Common-sense practices can deter thieves from targeting your property, including crime-fighting landscape design. Properly placing plants, trees, fences and other landscape elements can make your property unattractive to thieves and other lawbreakers. A new approach is called Crime Prevention through Environmental Design, which includes using landscaping and site layout to support natural surveillance, access control, territorial reinforcement, and image and maintenance.
The U.S. Department of Housing and Urban Development and the U.S. Census Bureau recently conducted a survey to gather more data on the country’s multifamily rental properties. Multifamily rentals numbered approximately 2.3 million in the U.S., but little was known on their value, or how they are financed.
Have you ever heard a tenant explain that they broke the rules of the lease because they didn’t know or realize what those rules were? Or because they thought they heard you say it was okay? Many an experienced landlord can tell stories about the misunderstandings that go on nearly every day with tenants. That’s why it’s so important to establish good communication from the start of your relationship with every tenant.
MetLife has secured Cushman & Wakefield to market and lease Morris Corporate Center IV Phase II, an interconnected, two-building, 350,000-sq.-ft., class-A office complex in Parsippany, N.J. The Cushman & Wakefield team leading the assignment includes Ken Flynn, Jr., Bill Brown and Jason Tenenbaum of the firm’s Morristown office.
TriComB2B, a magazine and marketing agency, has signed a 10-year lease to occupy two floors at the Performance Place building here, at 109 North Main Street. The company will operate out of 18,000 sq. ft. on the seventh and ninth floors in the 18-story building, which has about 166,000 sq. ft. The building is located within the Schuster Performing Arts Center, at the corner of Second and Main streets.
A landlord recently asked if her tenant, who claimed her roommate had abused her, would be allowed to break her lease. Good question! Many abuse victims do not feel safe in their homes, even with protective orders against their abusers. Others, as in the case above, actually live with their abusers. In either case, the desire to move can be strong—even if it means breaking a lease.
Stella McCartney, the daughter of Beatles great Paul McCartney, is famous for her sense of style. In fact, the fashion bigwig’s company designed the gear of Team Great Britain for the Olympics, according to Time magazine.That makes the attention her London townhouse has recently received somewhat ironic: The apartment has taken heat for being rather dull. One commenter claimed it was “blah and bland,” according to The Daily Mail.
Crime happens—even in the nicest apartment complexes and neighborhoods. Despite landlords’ and property managers’ efforts to deter criminal activity, tenants can still become victims of random or targeted crimes. So, what should you do if a crime does occur on or near your property? Is it your obligation to disclose the information to tenants?
If you have rental units to fill, you might want to put yourself in your potential tenants’ shoes, and give them what they want. So what do people look for when searching through apartment or rental home ads?
Photos: You can’t have too many photos of your rental. Exterior and interior photos are a must for attracting the right tenant. And be sure the photos are done well. Use good lighting or bright, natural light. Be sure to show features like closets, dishwashers, laundry rooms, garages, patios and any attractive views.