Since mid-winter of 2020, the COVID-19 pandemic has served as an omni-present reality. There is literally no place to run. Yet people continue to move and relocate for work, for family and for quality of life.
It seems annually recurring expenses come around sooner and sooner. This is partly due to aging and in part due to dread. Yet a proactive approach to these ritual expenses takes some of the sting out of their yearly return.
The key to comprehending economics and finance is to understand prices. These do not exist in a vacuum but touch upon supply and demand; interest rates; investment portfolios; and even employment rates.
The Realtor.com annual housing market forecast, published December 22, 2021, predicts "national rent growth of 7.1% for 2022." Home buyers cannot find homes to purchase because of the historic supply deficit of homes available for sale.
Rental prices are going up just as home values are. Potential tenants are flocking to new rental listings and are fighting for the opportunity to be approved. This is a prime opportunity for landlords to find solid tenants for their rental properties.
In Part 2 of our series on optimizing your rental property, we'll take a look at finding the best local agent for your circumstances. Investors are purchasing rental properties to add to their investment portfolios because interest rates are so low, and money is so cheap to borrow.
Just as home values and prices are increasing across the country, we are also seeing a huge jump in rent prices. The rental market is more competitive than ever right now and over the next couple of days we'll share information on the market and how to manage your rental efficiently.
Even though it's the middle of winter, it is not too early to start thinking about spring. Get creative on those long, cold nights and start planning and improvement plan for your landscaping.
Step outside and take a look at the exterior of your home. Take notes on what you see that may need attention. Updating and maintaining the exterior of your home on an annual basis can help preserve the life of every aspect of your exterior.