Recent Posts: Renters and Renting

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Don’t Forget Renters Insurance Coverage.

Renters insurance protects  furniture, clothes and a tenant’s personal property. Instead of potentially having to re-buy the entire contents of your rental home, you could be insured for as low as $20 a month, or less than $250 per year. Coverage includes losses from fire or smoke, vandalism, theft, and water damage, including if an […]

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Many Renters Don’t Get Security Deposits Back.

26% of renters don’t get their security deposits back when they move out, a Rent.com survey of 1,000 renters found. Landlords cite the biggest reason for withholding security deposits was tenants who moved out too early. And renters agree: 44% between the ages of 18 and 24 said that’s why they didn’t get their security […]

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Landlord Maintenance Tips.

If you are a landlord, there are some maintenance tasks your tenants should be doing. For example, replacing the air filters for the HVAC unit. Or making sure the batteries are functioning in the smoke detectors. These are simple yet important functions most landlords want their tenants to take care of. The first step is […]

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Phoenix a Top Market Where Renters Can Afford to Buy.

The National Association of REALTORS reviewed employment growth, household income and qualifying income levels in nearly 100 of the largest metropolitan areas across the U.S., to determine which areas with employment gains above the national average also have the largest share of renters who can afford to buy a home. Despite the recovery of our […]

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Why People Rent, Not Own, Part 2.

According to the Wall Street Journal, when asked what was their primary reason for renting, 49% of those aged 18 to 34 said they were not financially ready to own. Of those 35 and older, 26% cited that same reason. In the younger below 35 group, 15% said they rent because it is more affordable […]

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Why People Rent, Not Own, Part 1.

A study of renters by Fannie Mae revealed the top 3 reasons that they were renting: a. 57% said it allows them to live within their budget; b. 52% said its less stressful; c. And 50% believed its the best decision given the current economic climate.

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Why Renters Want to Own.

A study by Fannie Mae showed that 90% of renters plan to be homeowners one day, with the top 5 reasons why renters want to buy being: 1. Control over what you do with your living space: 84% of renters said this was their main reason for owning; 2. Having a sense of privacy and […]

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Why you Should Put your Rental in an LLC

Renting a property, whether a residential or commercial rental, is generally considered to be a high liability business. As a result, reducing the possibility that creditors (which could include an aggrieved tenant) can reach your other assets is critical. That is done by separating each rental property from your other assets – including from any […]

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Buying Cheaper than Renting

Late last year, Fletcher Wilcox, a well-respected real estate analyst with Grand Canyon Title, prepared a report entitled “Should you Rent or Buy a Single Family Home.” It analyzed whether it was cheaper to pay rent or pay a mortgage on a single family home. Based on the average rental rate and average purchase price […]

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New Requirements for Landlords

Do you rent out real estate in Arizona? Are you a landlord with tenants in a former or second home in the Phoenix metropolitan area? If so, the government has imposed a new, controversial and burdensome tax requirement that will increase your record keeping duties next year. Starting in 2011, the new rule requires that […]

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Liability from Older Home Renovations.

If you buy and fix up older homes to sell or hold as a rental, it just got a lot more difficult and expensive. New federal regulations effective in April of this year (the “New Lead Rules”), now require professional remediation techniques when even a relatively small amount of paint is disturbed. Many people are […]

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Buying Still Cheaper than Renting

In 2011 I wrote about the advantage of buying a home over renting one.  It was based on a report of the greater Phoenix area prepared by local analyst Fletcher Wilcox of Grand Canyon Title in 2010. It analyzed whether it was cheaper to pay rent or pay a mortgage on a single family home, […]

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