Remove 2023 Remove Landlord Remove Rent
article thumbnail

Justice Department Sues 6 Large Landlords

Rental Housing Journal

The Justice Department, together with 10 state co-plaintiffs, has filed an amended complaint in its antitrust lawsuit against RealPage to sue six of the nations largest landlords for participating in algorithmic pricing schemes that harmed renters, according to a release. billion in 2023. Regularly conducting call-arounds.

Landlord 105
article thumbnail

Rapidly Rising Rents Squeeze Millions in the Middle Class

American Apartment Owners Association

Rent costs have long weighed on lower-income households — now it’s coming for the middle class. Burdened by rents The percentage of middle-class renters burdened by costs has increased rapidly since 2019. A cost-burdened household is defined as one paying 30% or more of pretax income on rent and housing costs.

Rent 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Tips to Minimize Tenant Turnover

American Apartment Owners Association

Accordingto a report from Zego, the average cost of turning over a rental unit was $3,872 in 2023. For property management companies and landlords, focusing on tenant retention is not just a smart business move it’s essential for long-term success. Offer a range of flexible lease options to cater to diverse resident needs.

Tenant 234
article thumbnail

6 must-know industry trends for small property managers

Buildium

However, the pace of growth has slowed since 2023, with a majority of businesses planning to expand their portfolios by 25% or less over the next two years. Between 2001 and 2022, for example, rents rose by 21%—while renters’ incomes rose by just 2%. In 2024, tenant quality emerged as the #1 concern for property management companies.

article thumbnail

2024 Annual Rental Housing Report Key Takeaways

Rental Choice

However, rent growth for apartments with professional management fell during the third quarter (Q3) of 2023. Only 1% of the markets reported a rent growth of 10% in Q3 of 2023. million) spent over 30% of their income on utilities and rent. Roughly 653,000 people were experiencing homelessness in January 2023.

Apartment 130
article thumbnail

Best Cities for Real Estate Investment by GRM (Price/Rent Ratio) in Q4 2024

SparkRental

This compares with the annual pace of 3.13% seen in 2023 and is more normal than the frothy 7.45% growth in 2022. Investors looking for cities with the best price-to-rent ratio should pay close attention to local market dynamics. by population, mapped with their GRM, median rent, and median home price. saw cooling home prices.

article thumbnail

Understanding the 20% Pass-Through Tax Deduction for Redding, CA Landlords

Authority Property Management

How Landlords Can Qualify for the 20% Pass-Through Tax Deduction If you're a landlord in Redding, CA , you might have heard about the 20% pass-through tax deduction introduced by the Tax Cuts and Jobs Act ( TCJA ) of 2017. This deduction can provide significant tax savings, but it comes with specific qualifications and complexities.