Q2 2015 Rental Market Update – Are You Missing Out?

It’s common knowledge that the U.S. housing market has largely recovered from the calamity that followed the housing bubble burst of 2007-2008. However, relatively few appreciate the fact that the conditions that made the years following the bubble burst so lucrative for rental property owners are still in existence today.

The U.S. homeownership rate is currently at its lowest level in 20 years. Rapidly rising home prices are already making homeownership unattainable again for many in expensive markets like Boston, Seattle and San Diego. Entire generations are saturating rental markets around the country, from Millennials migrating in search of work to Baby Boomers testing out pleasant climes as they prepare for retirement.

Here are three metropolitan areas with rental markets that are on the verge of becoming significantly more lucrative in the coming months because of these housing trends:
Chicago rental market update
Chicago: The Chicago area’s occupancy rate is rising, and so are local rents; suburban Chicago rents have increased for five consecutive years. Its market revenue performance, a metric combining the occupancy rate and median rent, recently reached the highest point it’s ever attained. See a list of Chicago property managers >>

Atlanta rental market updateAtlanta: Rental housing supply in Atlanta, described as “the South’s mecca for migration of the young,” is struggling to keep up with demand even though construction cranes dot its skyline, and rents are soaring as a result. RealtyTrac, a real estate information company, recently named Atlanta to be the best U.S. rental market because of the estimated 26% potential return it estimates property owners can get there. See a list of Atlanta property managers >>

Baltimore rental market updateBaltimore: Home prices are rising much faster than incomes in the Baltimore area, leading to increased demand for rental housing – and rising rents – despite the simultaneous apartment construction boom. RealtyTrac also recently named Baltimore to be one of the best U.S. rental markets because of the 21% potential return it estimates property owners can get there. See a list of Baltimore property managers >>

You need to ask yourself: How is the rental market looking in my city? How easy is it for rental property owners to profit from current housing trends?

There’s no better way to answer these important questions than by reaching out to a local property manager. Click the below button to get a free, no-commitment quote from one or more property managers and start a conversation that could have a huge and lasting impact on your finances.

Your local rental market is heating up - get a free quote from a property management to take advantage of this

2014 Visitors’ Choice Awards: The Most Popular U.S. Property Management Companies

2014 Visitors' Choice Awards - the most popular U.S. property managers of 2014For more than a decade, All Property Management has helped homeowners across the United States and Canada maximize their rental income potential by connecting them with local, professional property managers. We proudly help the two million property owners and association members who visit AllPropertyManagement.com each year get access to the expertise and efficiencies of the 2,000 property and association management companies in our network.

2014 Visitors' Choice Awards: The Most Popular U.S. Property Management CompaniesAll Property Management created the Visitors’ Choice Awards a couple of years ago to recognize the U.S. property and association management companies that are selected most often on our website. Without exception, these property and association management companies provide high levels of customer service and excellent returns on investment for their clients. Their popularity among our website’s visitors is a testament to this. As AllPropertyManagement.com is the Internet’s foremost intermediary between professional property and association managers and the property owners and association members who use their services, Visitors’ Choice Award winners should be viewed as some of the most popular property and association management companies in the entire United States.

Winners of this annual award are given badges of honor (shown above) to display on their websites and in promotional materials. Property owners and association members should look upon these badges as marks of quality, as only special property and association management companies receive them.

The winners of the 2014 Visitors’ Choice Awards are listed alphabetically by state below, without any ordering by rank. Congratulations to the winners! We hope you have an equally successful 2015 ahead of you.

most popular property management companies 2014

Arizona

  • Real Property Management (East Valley) – Mesa, AZ
  • Rentals America – Mesa, AZ
  • All County Prestige – Phoenix, AZ
  • GoldenWest Management (Phoenix) – Phoenix, AZ
  • Gorenter – Phoenix, AZ
  • MBA Real Estate, LLC – Phoenix, AZ
  • Northpoint Asset Management – Phoenix, AZ
  • Renters Warehouse (Phoenix) – Phoenix, AZ
  • SGI Property Management – Phoenix, AZ
  • Rentals America – Tucson, AZ
  • RealManage – Arizona

California

  • Lido Property Management – Anaheim, CA
  • Blackstone Realty & Management, Inc. – Beverly Hills, CA
  • Marples Property Management – Brentwood, CA
  • A&M Property Management, Inc. – Campbell, CA
  • LRS Realty and Management (Los Angeles) – Chatsworth, CA
  • LRS Realty and Management Multifamily – Chatsworth, CA
  • Southern California Property Management – Chino Hills, CA
  • Noble Real Estate Services – Chula Vista, CA
  • Power Property Management – Culver City, CA
  • Pristine Property Management – Downey, CA
  • Real Property Management (California Coast) – El Segundo, CA
  • Star Real Estate Management – Fountain Valley, CA
  • White Glove Property Management – Fullerton, CA
  • DMM Property Management – Gardena, CA
  • Prellis Property Management – Granada Hills, CA
  • West Point Property Management – Huntington Beach, CA
  • LRS Realty and Management (Orange County) – Irvine, CA
  • Blue Sapphire Homes – Lafayette, CA
  • 24/7 Real Estate Leasing & Management – Los Angeles, CA
  • Liberty Property Management – Modesto, CA
  • All County Property Management West – Monterey Park, CA
  • Black Diamond Management – Oakland, CA
  • Real Property Management (San Diego Shores) – Oceanside, Escondido and Mira Mesa, CA
  • LRS Realty and Management (Inland Empire) – Ontario, CA
  • My Smart Lease – San Bernardino, CA
  • LRS Realty and Management (San Diego) – San Diego, CA
  • Intempus Realty – San Jose, CA
  • LBPM – Sherman Oaks, CA
  • Real Property Management (South San Fernando Valley) – Sherman Oaks, CA
  • RentToday – Southern California
  • All County Community – Temecula, CA
  • Secure One Properties – Westlake Village, CA
  • VPMI INC – Whittier, CA
  • RealManage – California

Colorado

  • Denver Property Management, LLC – Centennial, CO
  • All County Colorado Springs – Colorado Springs, CO
  • Investor’s Realty, LLC – Denver, CO
  • Northpoint Asset Management – Denver, CO
  • Woodruff Property Management, LLC – Denver, CO
  • Echo-Summit Property Management – Greenwood Village, CO
  • RealManage – Colorado

District of Columbia

  • Citylights Realty Group – Washington, DC
  • Nomadic Real Estate – Washington, DC
  • Urbane Results, LLC – Washington, DC

Florida

  • MREI Professional Management – Brandon, FL
  • Douglas Realty Property Management – Cape Coral, FL
  • Home Solutions Property Management, Inc. – Fort Lauderdale, FL
  • PGM Property Management – Fort Lauderdale, FL
  • Complete Realty Solutions – Fort Myers, FL
  • Diamond Rental Management – Jacksonville, FL
  • Property Management Pros – Jacksonville, FL
  • Warner Quinlan, Inc. (Kissimmee) – Kissimmee, FL
  • Dennis Realty – Lutz, FL
  • Affinity Management Services – Miami, FL
  • Florida Advanced Properties, Inc. – Miami, FL
  • Association Services of Florida – Miramar, FL
  • Woodruff Property Management, LLC – Naples, FL
  • Warner Quinlan, Inc. (Northeast) – North Orlando, FL
  • All County Premier Property Management – Orlando, FL
  • Classic Florida Realty – Orlando, FL
  • Orlando Realty and Property Management – Orlando, FL
  • Property Management Pros – Orlando, FL
  • RealSource Property Management – Orlando, FL
  • Warner Quinlan, Inc. – Orlando, FL
  • Warner Quinlan, Inc. (Southeast) – Orlando, FL
  • Warner Quinlan, Inc. (Central) – Orlando, FL
  • Warner Quinlan, Inc. (South) – Orlando, FL
  • Warner Quinlan, Inc. (North) – Orlando, FL
  • Camelot Property Management – Pompano Beach, FL
  • Keyes Property Management – Pompano Beach, FL
  • Rent It Network – Tampa, FL
  • Rent Solutions – Tampa, FL
  • WrightDavis Property Management – Tampa, FL
  • Marketplace Homes – Florida (statewide)
  • RealManage – Florida

Georgia

  • Real Property Management Peachtree – Atlanta, GA
  • Renters Warehouse (Atlanta) – Atlanta, GA
  • Sentry Management, Inc. – Atlanta, GA
  • Avenue Real Estate (Marietta) – Marrietta, GA
  • Central Georgia Realty – Senoia, GA
  • Central Georgia Realty (East Perimeter) – Senoia, GA
  • Central Georgia Realty (North Atlanta) – Senoia, GA
  • Marketplace Homes – Georgia (statewide)
  • RealManage – Georgia

Illinois

  • Chicagoland Leasing and Property Management, Inc. – Aurora, IL
  • Chicagoland Leasing and Management – Chicago, IL
  • Real Property Management Group – Chicago, IL
  • Westward Management, Inc. – Chicago, IL
  • Letts Property Management – Downers Grove, IL
  • Real Property Management (Suburban Chicago) – Franklin Park, IL
  • Celtic Properties, LLC – Joliet, IL
  • RE/MAX Synergy Residential – Orland Park, IL
  • D&R Property Management and Realty – Richmond, IL
  • Real Property Management (West Suburban Chicago) – Warrenville, IL
  • Grid 7 Properties – West Dundee, IL
  • Marketplace Homes – Illinois (statewide)

Indiana

  • Complete Real Estate Solutions, LLC – Indianapolis, IN
  • Real Property Management (Indianapolis) – Indianapolis, IN
  • Marketplace Homes – Indiana (statewide)

Maryland

  • Baltimore Property Management Pros – Baltimore, MD
  • REMAX American Dream – Baltimore, MD
  • All County Chesapeake – Bel Air, MD
  • WEICHERT, Realtors (New Colony) – Columbia, MD
  • Real Property Management Prime – Frederick, MD
  • Realty Group Property Management – Gaithersburg, MD
  • Metropolis Condominium Management – Hyattsville, MD
  • Goldberg Group PM – Montgomery County, MD
  • Real Property Management Capital – Rockville, MD
  • Penn Property Management – Maryland (statewide)
  • Property Management Pros – Maryland (statewide)

Massachusetts

  • J. Butler Property Management, LLC – Andover, MA
  • Meridian Realty Group, LLC – Boston, MA
  • Real Property Management (Boston) – Jamaica Plain, MA
  • Hancock Realty Group – Newton, MA

Michigan

  • Mutual Property Management – Farmington, MI
  • One Step Realty – Grand Rapids, MI
  • Prime Property Management – Lansing, MI
  • Aspect Properties, LLC – Rochester, MI
  • East Side Property Services – Rochester, MI
  • Real Property Management Metro Detroit – Troy, MI
  • Beka Management – Walled Lake, MI
  • Marketplace Homes – Michigan (statewide)

Minnesota

  • Sharper Management – Eden Prairie, MN
  • Northpoint Asset Management – Edina, MN
  • Tradewind Properties – Maple Grove, MN
  • R.E.I. Property Management, LLC – Minneapolis, MN
  • Renters Warehouse – Minnetonka, MN
  • Realty Connect – Plymouth, MN
  • Marketplace Homes – Minnesota (statewide)

Missouri

  • Worth Clark Realty – Chesterfield, MO
  • Elite Property Management – Saint Charles, MO
  • Upper End Properties – Saint Louis, MO
  • Avenue Residential Leasing & Management – Town and Country, MO
  • Marketplace Homes – Missouri (statewide)
  • RealManage – Missouri

Nevada

  • Advanced Management Group – Las Vegas, NV
  • Real Property Management (Las Vegas) – Las Vegas, NV
  • RealManage – Nevada

New Jersey

  • Abacus Avenue Property Management – Hoboken, NJ
  • Mem Property Management Corporation – Jersey City, NJ
  • Real Property Management (Central New Jersey) – Matawan, NJ
  • Alliance Property Management – Morristown, NJ
  • Cervelli Management Corp – North Bergen, NJ
  • RE/MAX Unlimited – Rancocas, NJ
  • Samroz, LLC – Rutherford, NJ
  • T.R.M. Property Management – Trenton and Matawan, NJ
  • MNI Property Management Pros – Windsor, NJ

New York

  • Newgent Management – Brooklyn, NY
  • Real Property Management (New York) – Queens, NY

North Carolina

  • Cedar Management Group – Charlotte, NC
  • Group 15 Real Estate – Charlotte, NC
  • Northpoint Asset Management (North Carolina) – Charlotte, NC
  • Park Avenue Properties – Cornelius, NC
  • RE/MAX Gold – Matthews, NC
  • Marketplace Homes – North Carolina (statewide)
  • RealManage – North Carolina

Ohio

  • Marketplace Homes – Ohio (statewide)

Oregon

  • Passadore Properties, LLC – Portland, OR

Pennsylvania

  • Atlas Property Management – Fort Washington, PA
  • Del Val Property Management, LLC – Malvern, PA
  • Tague Real Estate, LLC – Pittsburgh, PA
  • Onyx Management Group – Southampton, PA
  • Real Property Management (Delaware Valley) – Wayne, PA

Tennessee

  • Clark Simson Miller – Knoxville, TN
  • Marketplace Homes – Tennessee (statewide)

Texas

  • Real Property Management LoneStar – Austin, TX
  • PIP Management – Dallas/Fort Worth, TX
  • Renters Warehouse (Texas) – Dalworthington Gardens, TX
  • Leap Property Management – Denton, TX
  • Northpoint Asset Management (Dallas)- Fort Worth, TX
  • Renters Warehouse (North Dallas) – Frisco, TX
  • 360 Realty & Property Management – Houston, TX
  • Northpoint Asset Management (Houston) – Houston, TX
  • Precision Realty – Houston, TX
  • Propertycare – Houston, TX
  • Renters Warehouse (Houston) – Houston, TX
  • Tramco Realty – Houston, TX
  • Tusk Property Management – Houston, TX
  • Trend Property & Management – Keller, TX
  • A-TX Property Management – Pflugerville, TX
  • Rave Property Management – Round Rock, TX
  • Birdy Properties, CRMC – San Antonio, TX
  • Larsen Properties – San Antonio, TX
  • Liberty Management, Inc. – San Antonio, TX
  • Red Wagon Realty – San Antonio, TX
  • All County Alamo Property Management – Universal City, TX
  • RealManage – Texas

Utah

  • Northpoint Asset Management (Utah) – Salt Lake City, UT
  • Secure Property Management – Salt Lake City, UT
  • Real Property Management Elite – West Jordan, UT

Virginia

  • URBANA RE – Alexandria, VA
  • PMI of Fairfax – Fairfax, VA
  • Real Property Management Pros – Haymarket, VA
  • Patriot Properties, Inc. – Lansdowne, VA
  • Tri Borough Management – Leesburg, VA
  • KRS Holdings – Norfolk, VA
  • Property Management Pros – Northern Virginia, VA
  • Great Richmond Rentals – Richmond, VA
  • KRS Holdings – Richmond, VA
  • The Wright Choice Richmond Realty Group – Richmond, VA
  • Northern Virginia Property Management – Springfield, VA
  • Flat Fee Landlord – Vienna, VA
  • Atlantic Coast Property Management – Virginia Beach, VA

Washington

  • Miller Laine Properties – Bellevue, WA
  • Lakeshore Corporation – Kirkland, WA
  • Brink Property Management – Seattle, WA
  • Circle Point Homes Real Estate, Inc. – Seattle, WA
  • Full Service Property Management – Seattle, WA
  • Yates, Wood & MacDonald, Inc. – Seattle, WA
  • MacPhersons Property Management – Shoreline, WA
  • T-Square Properties – Woodinville, WA
  • RealManage – Washington

Wisconsin

  • Marketplace Homes – Wisconsin (statewide)

Previous Visitors’ Choice Awards winners

Check out past winners of Visitors’ Choice Awards by clicking on the below links.

2013 Visitors’ Choice Awards

2012 Visitors’ Choice Awards

6 Tips for Being a Better Landlord

cheerful young businesswoman real estate agent holding and giving keys to new rental houseWhether you’re a first-time landlord or an old pro, there’s always room to get better. Improving your skills can increase occupancy rates, make for more consistent revenues, and lead to a less stressed life for you and your business. For some helpful tips on how to up your game, read on.

1. Be More Personable
Landlords all hope to be busy, but that doesn’t mean they can’t be personable. When tenants stop by with their rent payments, ask about their families or jobs. Inquire about hobbies, too. It’s little inquiries like these that can make your tenants feel more appreciated. Be professional, but friendly.

2. Include More Detail In Rental Contracts
If excessive noise is against the rules, note that in the lease – and be detailed. No loud music after 9 p.m., for example. Don’t leave anything open to interpretation. If home improvements are restricted, list that as well. Renters may be allowed to repaint their rooms, for example, but not re-carpet their floors. And, if installing a new ceiling fan is prohibited, your tenants are going to appreciate knowing that so they don’t waste money buying one.

3. Price Your Rentals Appropriately
Do some market research and see what other rentals in the area are going for, and be sure your properties are priced appropriately. Of course, you want to improve your profits as much as possible. But, if you overprice properties and folks move in only to eventually find they’re paying hundreds of dollars more than they could have been, you can harm your reputation. Keep your bottom line in mind, but always stay reasonable.

4. Vet Prospective Tenants
Good tenants can go a long way toward
creating a good landlord. Always do criminal background checks, get thorough credit reports, and contact every personal and professional reference. Renting to folks with sketchy histories can lead to trouble further on down the road.

5. Maintain Your Property
Make sure you’re addressing the concerns of your renters, whether it’s a leaky faucet or a faulty AC system. Nothing can damage a landlord-tenant relationship more than ignoring your tenants’ problems. Ramping up your repair department protocols can help a great deal. You’re much more likely to have minimal tenant problems when your property is a place they enjoy coming home to.

6. Seek Out Professional Advice
No matter how long you’ve been a landlord, there’s nothing wrong with asking for advice. Professional property management companies provide a wealth of knowledge around legal issues, tenant relations, even evictions. Check out the directory All Property Management to find a local property management company and any of a number of legal blogs targeting landlords. You can also join a professional association in your city or state.

Final Thoughts
If you’ve got property managers on staff, they serve as conduits to your tenants – so choose them with care. Vet your hires just as much as you do your tenants. Any candidates should have previous experience managing properties, solid accounting and organizational skills, and be trustworthy and reliable. You can do everything in the world to improve your personal landlord skills, but if your direct managers aren’t qualified, all your efforts could be lost.

What other ways do you know of to be a better landlord?

Dale Terry is based in Georgia and writes about credit and debt, personal finance, managing rental properties, and growing long-term investments.

We hope this article was helpful! Thanks for reading.

– The All Property Management Team

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