Boston's # 1 Real Estate Investors Association and Community
Boston REIA April Newsletter 2021
Dear Boston Members and Friends,
Here is your monthly newsletter. Enjoy
How $1 of Rent Adds up to Billions Going Back Into Local Communities
Up to 90 cents of each dollar paid for rent go towards taxes, wages, mortgage payments, and maintenance and improvements, while only 10 cents belong to owners and investors. Interesting article about how Rent Checks go back into the local community. Full Article
CDC Eviction Ban now Extended to at least June 30th 2021…
These are confusing and troubling times navigating the pandemic while balancing the responsibilities of meeting financial obligations. Landlords and tenants are in a delicate dance with tenants trying to avoid homelessness and landlords’ foreclosure.
State Eviction Protection from NOLO – a Chart that attempts to capture the latest information on coronavirus-related tenant protections by state (and county and major cities, if applicable). NOTE – this information is changing hourly, and the chart might not reflect all current protections. For the best information about the status of evictions where you live, check your state’s judicial system or governor’s website.
NYC’s Self-Storage Business is Booming in Unusual Places
New York City entrepreneurs are converting a myriad of spaces—from spare bedrooms to storefronts—
into self-storage businesses. Read the Full WSJ Article
U.S. Home Prices Rise at Fastest Pace in 15 Years
S&P CoreLogic Case-Shiller index increased 11.2% in year ended in January, highest rise since February 2006 Read the Full WSJ Article
Buying a Home Through an LLC Is Not as Anonymous as It Used to be
New reporting requirements mean the financial structure is no longer a reliable way to hide who owns a property. Read the Full WSJ Article
7 Checklist Items Outside for Spring Rental Property Maintenance
Spring is the best time to plan and get to work on rental property exterior maintenance. As weather gets warmer, it becomes easier to begin projects that would have been difficult or even impossible to complete during the wet and cold of winter. Read the Full Article – Rental Housing Journal
Repair or Replace? What Is The Average Life Expectancy of Common Household Appliances?
Should You Repair Or Replace Your Home Appliances? When one of your most used appliances breaks down, you are left with the decision as to what to do. To repair or replace a broken appliance can be an expensive decision. How do you know if you are spending an appropriate amount on a quality product or if you’re just throwing money down the drain with a temporary fix? Sometimes repairing a broken item just to keep them running a little longer is not always the best way to save money in the end.
Home appliances can be some of the biggest investments homeowners make. This article gives a nice look at Life Expectancy, Repair Costs and Replacement Costs.
Apartment Rent Forecasts for 2021
John Burns Real Estate Consulting recently released their 2021 Apartment Rent Forecasts which they say will to help you “weather” the shifts in the apartment market. They analyzed 127 metros across the country by taking a look at four key categories: Read the Full Article
“Cheap Old Houses” Attracts Young People Escaping the Cities
A recent story from Reuters about millennials searching for homes in “far-flung places” should have flippers & rehabbers taking note! A startup called CheapOldHouses.com promotes the purchase & preservation of historical houses across America (most of which come in under $100k) and contain unique and interesting architectural detail. Forget “location, location, location.” Young people are willing to take risks to find a home they can afford and use their hands instead of sitting in a cubicle all day. Read the Full Story
David Pickron is a landlord and the founder of Rent Perfect. He has been paying very close attention to the CDC and what will happen when landlords across the country are given the green light to start the eviction process for non-payment of rent. Many tenants interpreted the eviction moratorium as “we do not have to pay rent,” which could not be further from the truth.
So, what happens when the ban is lifted and those tenants are now looking for somewhere else to live? That pool of potential applicants will have evictions and judgments against them that can hurt you. David Pickron has the answers on how to protect yourself!
We find ourselves in a tug-of-war when it comes to the CDC stopping all evictions nationwide. After fuming and asking myself if I still live in a free country, I have gone through 4 of the 5 steps of grief…
Join us for the monthly National REIA Zoom Meeting on Friday April 16th, 2021 at 3pm CT (4pm ET). This meeting will cover:
National REIA is a 501(c)6 non-profit association that has been representing the real estate investing industry
for over 35 years.
With over 40,000 members and 120 local Chapters and affiliates, we are housing providers that help to rebuild communities, one house at a time. We thank our industry partner Home Depot for their support. To learn more visit www.nationalreia.org