Boston's # 1 Real Estate Investors Association and Community
Boston REIA November Newsletter 2021
Setting Expectations
The current supply chain challenges and worker shortages in the United States are creating long delays to get materials and workers for repairs as well as replacements. Critical things like appliances, HVAC systems or parts for them, are on back order and are making it difficult to take care of our properties and residents in a timely fashion.
As owners, we are under pressure from all sides. I have taken the proactive step to communicate with my residents the potential for delays and ask their help to avoid problems.
Ask them to report problems early. I always want them to do this rather than assuming I am clairvoyant and then being in a bad mood when they call to ask for help. Early reporting of problems will often allow us to repair a minor problem rather than a major one.
Candid communication of this sort with your residents is good for the relationship. It reminds them who to call for repairs and gives them some tips on how they can save money. I used to send out a monthly newsletter to but decided that communicating at critical times is more productive.
It is always best to set expectations when you know that you will not be able to live up to the standards you have established in the past. Sample Letter
The pace of rental aid distribution has accelerated in the last two months under a concerted push from the federal government following a widely reported slow start over the first half of this year. Still, some state and local governments are lagging, including 17 states that have expended less than 15% of allocated funds. Full Article
Housing Market Predictions 2022: Hot or Cold?
What should home buyers, home sellers, real estate agents, and investors expect from the 2022 real estate market? ARTICLE
Here’s Why Home Depot Sales Predict the Housing Market
Want to know if the housing market is heating up or cooling down?
Look at Home Depot, apparently!
There’s been lots of crystal ball gazing about whether or not the market is slowing down, but recently, one subtle change took place, and it might be a sign that things are slowing or at least reaching a plateau. Full Article
THE GREATER BOSTON FOOD BANK
You can make a difference for our neighbors in need.
Boston Real Estate Investors Association supports The Greater Boston Food Bank (GBFB). Together we are committed to ending hunger in Eastern Massachusetts. As the largest hunger-relief organization in our region, we work with more than 600 food distribution sites across 190 cities and towns in order to provide millions of healthy meals each year to those in need.
Rent Perfect
The Perfect Land Lording Experience Begins with The Right Tenant!
Rent Perfect is the solution rental property owners & managers have been crying out for! Their portal allows you upload your area specific lease agreement to send your tenant(s) electronically & securely. They offer the most accurate & thorough credit & background screening available. NREIA members receive a discounted 95¢ set up fee.
National REIA stays on top of important issues affecting the real estate investing industry, visit RealEstateInvestingToday.com and follow on Twitter @REI2Day.
