Is Real Estate Hard? How Careers in Real Estate Differ in Difficulty
“Anyone can master the skills of real estate investing with education and practice,” says Alexandra Alvarado of the American Apartment Owners Association. “But the stakes are high, as you typically put tens or hundreds of thousands on the line every time you buy an investment property.”
California’s rent control rejection might point to national appetite for different approach
“I think it’s actually more clear now than ever that rent control on a statewide level isn’t something most Californians want,” said Alexandra Alvarado, director of marketing and education at American Apartment Owners Association, an industry group that helps landlords with tenant screening and other services.
“This is the third time it’s failed, and I think that sends a strong message,” she said. “But I also think that those who are deeply in support of rent control aren’t going to stop trying to put it up for a vote.”
AAOA’s First Hybrid Rental Housing Conference Features ‘Squatter Hunter’ Flash Shelton and LiftMaster’s Smart Access Control Solutions to Help Apartment Owners Keep Their Rentals Secure
The American Apartment Owners Association (AAOA) is proud to host its first-ever hybrid Rental Housing Conference, bringing together thousands of attendees through both in-person and livestream options.
This one-day event is specifically tailored for DIY landlords and investors, realtors/brokers, and property managers seeking the latest insights and tools to manage their properties more effectively.
California’s rent control ballot measure could reverberate across the US
Alexandra Alvarado, director of marketing and education at American Apartment Owners Association, an industry group that helps landlords with tenant screening and other services, said California’s small mom-and-pop landlords — an often overlooked group in the tug-of-war between renters and corporate landlords — can’t recoup the losses that rent control may cause, unlike financially healthy corporate landlords.
“Mom-and-pop landlords typically don’t raise rents as often as corporate landlords, but rent control forces them to keep increasing rent or risk falling behind, particularly when a tenant moves out,” she said in an interview.
Gen Z Want More Pets—But There’s a Housing Problem
Alexandra Alvarado, director of marketing and education at the American Apartment Owners Association, emphasized the concerns landlords face with pets.
“Many properties are not designed with pets in mind, especially larger animals, and this raises concerns about damage to flooring or other interiors. Carpets are particularly vulnerable, while more durable materials like hardwood or tile are more pet-friendly,” she told Newsweek.
“Untrained pets can cause significant damage, and landlords often struggle to enforce pet-related rules after a lease is signed. This is especially true in states where security deposits are capped, making it harder to cover repair costs,” Alvarado explained.
Despite the challenges, Alvarado encouraged landlords to consider allowing pets, as pet-friendly properties attract more tenants.
“The rise in pet ownership post-pandemic gives landlords a competitive edge if they allow pets, and they can charge higher rents or pet fees to offset potential risks,” she said.
After a Record Hot Summer, Pressure Grows for A/C Mandates
Landlord groups have opposed these maximum temperature proposals, saying the cost of installing cooling systems might force them to raise rents or drive landlords who can’t bear the cost out of the market. Mom-and-pop landlords in particular already face small margins amid rising maintenance and insurance costs, said Alexandra Alvarado, director of marketing and education at the American Apartment Owners Association.
But landlords aren’t necessarily opposed to adding cooling systems — or even mandates, Alvarado said. “What is more up for debate is: Realistically, what is possible and reasonable for property owners to do in that timeframe?” she said, referring to deadlines included in some of the bills to meet requirements. “The other aspect is whether or not the landlord can bill the tenant for utilities.”
Home vacancy statistics 2024
Common factors among rental vacancies
| High rental prices | If the rental rate for a property is set higher than those for similar properties in the same locality, there’s a greater chance of that property remaining vacant. |
|---|---|
| Lack of curb appeal | If the rental property or surrounding grounds appear neglected, that property is less likely to appeal to prospective renters. |
| Lack of effective advertising | If a property isn’t marketed well, prospective renters may not even be aware that it’s available for rent. |
| Ineffective property management | Customer service is important when trying to rent a property. Landlords and management companies must be responsive to prospective renters, available to show the property and willing to sell the virtues of the space. |
| Lack of move-in readiness | Unoccupied rental properties should be prepared for the next tenant as soon as they are vacant. Delayed repairs, painting and cleaning contribute to longer vacancies. |
Landlords cry foul as more states seal eviction records.
Alexandra Alvarado, director of education and marketing at the American Apartment Owners Association, a tenant screening provider, told Stateline that the group’s database only displays eviction records with a completed judgment that were filed within the past seven years, which is the time limit set by the federal Fair Credit Reporting Act.
“It can be a monetary or non-monetary judgment, but there must be a judgment. So, if an eviction case is filed, but the parties settled outside of court or the tenant won, then it wouldn’t show up in our reports, even though technically it is public record,” Alvarado said. “Our members are getting evictions that have merit and weren’t erroneously filed.”
Alvarado, of the American Apartment Owners Association, said landlords have mixed views about laws that allow courts to seal cases that have been dismissed or ruled in a tenant’s favor. What’s more important to landlords, she said, is that their screening process can look back the full seven years for problem evictions.
Ohio has no cap on rental application fees, which can add up fast. Some people want that to change.
A post by Robert McCain on the American Apartment Owners Association’s website says fees help the screening process because people with credit or background issues are much less likely to apply if they have to pay for their applications to be considered.
Biden rent control plan blasted by experts, trade groups
“Inflation is impacting both landlords and tenants, with some real estate costs rising even faster than the general inflation rate,” a spokesperson for the American Apartment Owners Association told FOX Business, noting that multifamily insurance premiums have doubled in certain markets. Rent increases are often necessary for landlords to cover these rising costs and continue providing high-quality housing,” the AAOA added.
RealPage Says Rental Pricing Tech Is Misunderstood, but Landlords Aren’t So Sure
Alvarado says some landlords are taking pause and asking questions before using the tech. Software like RealPage “has made it much easier to understand what is happening in the market,” Alvarado says. “Technology has helped us in so many ways to make all these processes more efficient. In this case, it’s now borderline too efficient.” And members of the AAOA are asking questions about the legality of revenue management, she says. “The first thing landlords typically think is, what is the legal repercussion? Am I going to be in trouble for using this software? If the answer is maybe, it’s usually off the table.”
Check Out These 6 Emotional Support Animal Savings Tips
“An emotional support animal letter needs to be on the official letterhead of the health care provider, identify the presence of a disability, describe the working relationship with the health care provider and recommend the animal as the best treatment,” said Alexandra Alvarado, director of marketing and education at American Apartment Owners Association. “If more than one animal is requested, the health care provider must specify why each animal is needed.”
Amid Rising Evictions and Rents, States Grapple with Protections in Tenant-Landlord Laws
Alexandra Alvarado, director of education and marketing for the American Apartment Owners Association, an industry group, agreed that the advancement in renters’ protections in some states has altered the landlord-tenant dynamic.
The Apartment Transparency Push: What Rental Platforms Are Doing and What It Means for Renters
According to Alexandra Alvarado, director of marketing and education at the American Apartment Owners Association, this industrywide move toward transparency has been in the works for some time. The White House initiative only sped it up.
“Transparency in the private sector has been trending even prior to the Blueprint being issued,” Alvarado says. “Last year Airbnb adopted pricing transparency showing total booking costs, which has helped their customer satisfaction greatly. It’s been an incentive for hosts to compete by lowering their fees.”
These moves toward fee transparency are only a small portion of the changes to result, at least in part, from the White House’s initiatives. Alvarado says she’s seen an uptick in security deposit alternatives, which give renters more financial flexibility in the initial leasing process, as well as property owners being more transparent about qualifying criteria – something that “helps build trust between tenants and their landlords,” she says.
This California handyman found a creative way to force out squatters — but it’s a dangerous tactic.
According to the American Apartment Owners Association (AAOA), most states have laws that give squatters rights to inhabit a property “in the event that the lawful owner does not evict or take action against,” them and they differ from state to state.
How to Run a Tenant Background Check
“The first key step is to have a comprehensive rental application which collects at minimum the name, date of birth, Social Security number, other proposed occupants, pets, previous addresses with landlord references, employer references, vehicle information and driver’s license or government-issued ID,” says Alexandra Alvarado, director of marketing and education at the American Apartment Owners Association. Proof of income is also necessary, such as pay stubs, bank statements or a W-2, and a copy of the applicant’s ID.
“The results of a background check will only be as good as the information that is input,” Alvarado adds. “And the more documentation landlords request, the less likely a tenant will be to forge them.”
What Is a Month-to-Month Lease?
“Month-to-month leases can vary from state to state so it’s important to be aware of the pros and cons where the rental is located,” explains Alexandra Alvarado, director of marketing and education at the American Apartment Owners Association. “For example, the notice of termination period for a month-to-month lease is 30 to 90 days for most states, but some states have ‘just cause’ laws as well.”
“Typically, ‘just cause’ means the landlord must renew the lease unless the tenant has intentionally damaged the unit, not paid rent or broken the lease in some material way,” Alvarado adds. “It’s important to also research whether your state has exemptions for ‘just cause’ so you can ensure the law applies to you.”
White House using one-size-fits-all plan to protect renters at landlords’ expense: ‘Very frustrating’
“We’ve seen it for so many years, and it’s very frustrating,” American Apartment Owners Association director Alexandra Alvarado said during Grady Trimble’s report on “The Big Money Show” Wednesday. “[Mom-and-pop landlords] are not being treated differently, even though it affects them much more than it would affect any large company with thousands of units. They have room for it. Landlords that have a few units don’t.”
Biden’s sweeping plan to help renters comes ‘at the expense’ of mom-and-pop landlords — here’s what to do if you still want your slice of the real estate pie
AAOA director Alexandra Alvarado said it’s “very frustrating” how mom-and-pop landlords are ignored by lawmakers.
“We’ve seen it for so many years … [mom-and-pop landlords] are not being treated differently, even though [housing policy] affects them much more than it would affect any large company with thousands of units,” Alvarado said on “The Big Money Show.”
Landlord Threatens to Evict Tenant for Using A/C, Gets Dragged by Internet
According to the American Apartment Owners Association, if the tenant doesn’t pay rent on time or allows unapproved roommates, the landlord may have cause to evict them.
U.S. rents surge, leaving behind generation of younger workers
As coronavirus infections spread in 2020, wealthier people went to summer homes or remote areas to avoid infection, leading to vacancies and steep rent reductions in many cities. Now, landlords are making up for those losses while also trying to recoup higher maintenance and insurance costs, said Alexandra Alvarado, marketing director at the American Apartment Owners Association, which represents smaller landlords.
With low supply in large cities and rural areas where more people have moved for remote work, landlords can ask prospective tenants to show higher incomes than previously required, she said.
Looking for an apartment? That will be $400 in application fees, please
“In California, it could be a $1 million property that they’re renting out, and they’re giving it to a complete stranger,” said Alexandra Alvarado, marketing director for Calabasas-based American Apartment Owners Association and its sister company, TenantAlert. “It’s not easy for a landlord to just give that to somebody that they don’t know. They want to make sure there’s something there that can make them feel a little better about the decision.”
It’s rare to find landlords who don’t do background checks unless they’re renting to a relative, Alvarado said
“If anything, they’re just upping it more,” she said. “They want more data.”
Why College Students May Need Renter’s Insurance
Some colleges may require students to carry insurance as part of their campus housing contract. And many property owners who rent off-campus housing require students to buy coverage, said Alexandra Alvarado, director of marketing and education for the American Apartment Owners Association, which provides services to landlords.
“The landlord has insurance on the property itself,” she said, “but that doesn’t include the tenant’s property.”
If you have a renter’s policy, your belongings are often covered even if they are stolen away from home. Ms. Alvarado recalled that when she was in college, her laptop was stolen from her car and her renter’s policy paid to replace it.
New service provides landlords coverage for evictions
The American Apartment Owners Association (AAOA) offers LeaseGuarantee, a new program that reimburses owners for up to $10,000 for unpaid rent, property damage and legal fees incurred during eviction proceedings. The service, which costs a minimum of $299 for one year of $2,500 in protection without a deductible, can be paid for by the landlord or tenant.
Tenants may prefer this program since it is less costly than a traditional security deposit. Whether the tenants are eligible depends on a screening by the AAOA. Rates depend on the amount of coverage requested and the tenant’s credit and eviction history. Protection is available at higher rates for up to $10,000. The program is available to owners of single-family rentals as well as multiunit houses and apartments.
Columbus renters push back against rising rents with formation of tenants’ union
“Part of the reason why unions are becoming more popular is because that lack of communication became really evident during the pandemic,” said Alexandra Alvarado, director of marketing and education at the American Apartment Owners Association, which supports roughly 130,000 landlord members across the country.
Alvarado said while tenant unions can sometimes threaten landlords’ ability to operate, especially smaller mom-and-pop outfits, property owners should listen to their concerns.
“Homeownership is not on the rise, it is declining. Homeownership is becoming less affordable, and so at least for the time being, there may be more renters than homeowners, and they’re going to have a voice. And that should be heard, I think, within these conversations, it can actually be something helpful,” she said.
Missouri tenants, landlords enter uncertain period after overturning of federal eviction moratorium
The American Apartment Owners Association surveyed its members last May and found an overwhelming percentage willing to help tenants. At the time, most people were hoping the worst of the pandemic would be over by the fall.
I think it’s quite frustrating for many landlords,” said Alexandra Alvarado, director of marketing and education for the American Apartment Owners Association (AAOA). “In some cases, many have considered selling their rental properties if they don’t think they can afford to continue.”
Alvarado said a common misconception is most apartment owners are large companies or retirees earning extra income. Approximately 50% of rental owners in AAOA are small “mom and pop” landlords. These landlords are responsible for paying maintenance, taxes, insurance and utility costs. They also juggle marketing and advertising, customer relations, maintenance, accounting and other tasks.
“A year later, they are just finding it not to be sustainable,” Alvarado said.
Getting or Returning a Security Deposit: What You Need to Know About Security Deposit Refunds
As noted, every state has different regulations surrounding security deposits. Below is a summation of how each state handles these deposits, according to the American Apartment Owners Association. However, you’ll want to consult a financial professional or refer to your state’s individual law code for a full list of regulations.
Should we hold apartment complexes accountable for crimes committed within the property?
According to the American Apartment Owners Association in Tennessee, the Landlord-Tenant law states landlords must comply with building and housing codes that affect both health and safety.
3 Strategies To Help You Rent Out Property Quickly
A past report by the American Apartment Owners Association found that certain features like the inclusion of an air conditioning unit, dishwashers, and well-designed kitchens were important to them
How Tenant Screening Reports Make It Hard for People to Bounce Back From Tough Times
“The theme for the landlord is, ‘How do I lower my risk?’” says Alexandra Alvarado, head of marketing and education at the American Apartment Owners Association, which represents more than 120,000 landlords
Mediaplanet and Industry Leaders Partner to Discuss 2021 Top Trends in the Rental Industry During COVID-19
This campaign was made possible with the support of the National Apartment Association, American Apartment Owners Association, National Association of Rental Property Managers, National Multifamily Housing Council, Peter Lorimer, LiftMaster, SmartRent, and Property Meld.
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