Category Archives: Property Management

All things concerned regarding property management

Housing Market Intelligence, Monthly Housing Market Snapshot, Property Management

ARMLS RENT Check™ – April, 2017

May 26, 2017 azrealtycom

For the month of April 2017, all RENT Check indicators showed great momentum comparing to previous month, March 2017.

Median Lease: $1,350 – Healthily increased from $1,328 previous month.
Average Lease: $1,546 – Aggressively increased from $1,470 just previous month.
Avg. Days on Market: 27 – Decreased from 31 days of previous month.
Rent Check Quotient™: 2 : 10 – Rental supplies went low comparing to 3 : 10 last month.
Closed Rental: 1,991 – As a result of short supplies, much decreased from 2,291 homes previous month.
Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Cap rates are still around 4.0% – 5.0% to begin with for the first year. With the steadily increasing rent, consequently cap rate will improve year-over-year.

Housing Market Intelligence, Property Management

ARMLS RENT Check™ – March, 2017

April 29, 2017 azrealtycom

For the month of March 2017, all RENT Check indicators showed great momentum comparing to previous quarter, Dec 2016.

Median Lease: $1,328 – Healthily increased 4.16% from $1,275 previous quarter.
Average Lease: $1,470 – Slightly increased from $1,444 previous quarter.
Avg. Days on Market: 31 – Decreased 16.22% from 37 days of previous quarter.
Rent Check Quotient™: 3 : 10 – Remained flat as 3 : 10 last quarter.
Closed Rental: 2,291 – Increased 8.63% from 2,109 homes previous quarter.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Cap rates are still around 3.5% – 4.5% yet be careful about the potential mortgage interest rate hike.

Housing Market Intelligence, Property Management

ARMLS RENT Check™ – Dec, 2016

February 25, 2017 azrealtycom

For the month of Dec 2016, all RENT Check indicators showed low momentum during the closing month of 2016. This is not surprising yet we expect to see gains in all area starting 2017.

Median Lease: $1,275 – Slightly decreased from $1,295 previous month.
Average Lease: $1,444 – Slightly decreased from $1,464 previous month.
Avg. Days on Market: 37 – Increased from previous 34 days.
Rent Check Quotient™: 3 : 10 – Remained flat as 3 : 10 last month.
Closed Rental: 2,109 – Increased from previous 1,986 homes.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Cap rates and Cash on Cash are still around 3% – 4% yet be careful about the potential mortgage interest rate hike.

Housing Market Intelligence, Property Management

ARMLS RENT Check™ – Nov, 2016

January 4, 2017 azrealtycom

For the month of Nov 2016, all RENT Check indicators turned to RED again. Yet it is normal during this season of the year. Now the numbers…

Median Lease: $1,295 – Decreased from $1,300 previous month.

Average Lease: $1,464 – Decreased from $1,476 previous month.

Avg. Days on Market: 34 – Increased from previous 33 days.

Rent Check Quotient™: 3 : 10 – Remained flat as 3 : 10 last month.

Closed Rental: 1,986 – Decreased from previous 2,309 homes.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Cap rates and Cash on Cash are still around 4% – 5% yet be careful about the potential mortgage interest rate hike.

Property Management

ARMLS RENT Check™ – Oct, 2016

November 14, 2016 azrealtycom

After all RENT Check indicators turned to RED last month, we got some good news for you as the down turn stopped at the median lease as well as month total number of closed rental. Both of them gained some positive ground in the month of Octover. In the meantime, the average lease just dropped $1 and merely noticable. However, the DOM increased once again from 30 days to 33 days. Now the numbers…

Median Lease: $1,300 – Increased from $1,295 previous month.

Average Lease: $1,476 – Decreased from $1,477 previous month.

Avg. Days on Market: 33 – Increased from previous 30 days.

Rent Check Quotient™: 3 : 10 – Remain flat as 3 : 10 last month.

Closed Rental: 2,309 – Increased from previous 2,295 homes.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Cap rates and Cash on Cash are still above 4.14%, It’s time to ACT carefully!

Housing Market Intelligence, Property Management

Owning vs Renting

November 4, 2016 azrealtycom

Owning a home has great financial benefits. Because of this, more and more experts are growing concerned about the ramifications of a falling homeownership rate. Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

What proof exists that owning is financially better than renting?

A study published by the Joint Center of Housing Studies at Harvard University shows the financial benefits of homeownership. The study mentions five major financial benefits:

Housing is typically the one leveraged investment available
You’re paying for housing whether you own or rent
Owning is usually a form of “forced savings”
There are substantial tax benefits to owning
Owning is a hedge against inflation

Studies have shown that homeowners have a net worth that is 45X greater than that of a renter.

Just last month (August 2016), we explained that a family buying an average priced home this past January (2016) could build more than $46,000 in family wealth over the next five years.

Some argue that renting eliminates the cost of taxes and home repairs. Every potential renter must realize that all the expenses the landlord incurs are baked into the rent payment already – along with a profit margin!