References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Tips for Landlords
- Screen potential tenants using a written rental application
- Document the important facts of the agreement with a written lease
- Establish a fair system of setting, collecting, holding, and returning security deposits
- Stay on top of maintenance and make repairs when requested
- Provide secure premises
- Provide adequate notice before entering the rental space
- Disclose environmental hazards
- Choose and supervise your property manager carefully
- Purchase liability and other property insurance
- Try to resolve disputes with your tenants without lawyers and lawsuits
Source: Top Ten Tips for Landlords (NOLO, 2022)
Landlord Resources: A Complete Guide to Renting Out Property (Law Depot, May 25, 2022)
This comprehensive guide for both commercial and residential landlords covers a landlord’s responsibilities, managing property and whether to hire a property manager, and federal laws that apply to landlords. In addition, users may customize and print essential documents such as rental/lease agreements and rental applications.
The Real Rental Housing Crisis Is on the Horizon (Urban Institute, Mar. 11, 2022)
“The results of this landlord survey point to a bleak outlook for the rental market in the years ahead. Although landlords have been unable to evict tenants for much of 2021, they have often found other ways to vacate units, and evictions are likely to pick up in the months ahead. With more stringent landlord screening, tenants who have been evicted are more likely to get rejected for the rental unit of their choice. Ensuring that those who need ERA receive it in a timely fashion can help these renters find a home and combat skyrocketing rental prices. But even with more assistance, the effects of the COVID-19 crisis are likely to linger in the rental market for years to come.”
Landlord Tenant Law (American Apartment Owners Association, Feb. 8, 2022)
Landlord tenant laws are specific to each state. This collection of state-by-state laws covers current landlord tenant rules with links to learn more at state government websites.
America’s Rental Housing 2022 (Joint Center for Housing Studies of Harvard University, 2022)
“Rental housing demand came roaring back in the second year of the pandemic, reducing vacancy rates and driving up rents. However, lower-income households that took the brunt of job losses still struggle to make rent, reinforcing the stark divide between higher- and lower-income households. The need for a permanent, fully funded housing safety net is more urgent than ever, and a key element of that support must be to protect existing rental housing from the threat of climate change.”
How to Become A Landlord - A Complete Guide (Clever Real Estate, Oct. 21, 2021)
Aimed at new landlords, this guide looks at the pros and cons of multifamily, single family, and short term rentals. It explains how to set rules, select tenants, and manage properties as a landlord.
The Research Shows It: The Time Is Now for Office Landlords to Adopt Flex Strategies (REjournals, Sep. 2, 2021)
“Ultimately, the demand for flex space is driven by three main factors: a desire for shorter leases, interior designs that support all work tasks, and technology services that allow for seamless entry and access to amenities. The shift to flexible office space has become universal, and landlords must provide the services and office experiences that occupiers demand.”
Investing in Rental Property
Property Features That Can Propel Your Real Estate Investment to The Next Level (MPA, Jul. 7, 2022)
“While location is a big factor, property features can go hand-in-hand with the location itself when it comes to a successful real estate investment property. Investors can be enticed to purchase a property based on what they can do with it or what it can offer a potential tenant. In this article, we’re going to focus on identifying those features and how investors should be taking advantage of them and parlaying the features into a profitable real estate investment property.”
The Myth of Passive Real Estate Investing (Kiplinger, Jun. 6, 2022)
“Yes, real estate investing can be profitable, and after putting a lot of hard work in on the front end, it may be able to provide some passive income at some point in the future. But that is a very far cry from a guarantee, and it requires a significant amount of luck and skill to achieve that outcome.”
Sentiment Remains Strong for the SFR Sector (WealthManagement.com, May 31, 2022)
“Bulwarked by strong demand from renters, rising rents and some constraints on existing supply, single-family rentals (SFR) in recent years rapidly emerged to become a popular investment among private equity real estate investors, publicly-traded and non-traded REITs and individual investors. And despite some broad macroeconomic headwinds, players remain optimistic about the sector according to WMRE’s third market study on the segment.”
How to Invest in Real Estate Rentals (Investopedia, Mar. 12, 2022)
In this detailed outline for new investors, learn how to secure a down payment, finance the investment, and obtain a mortgage on rental properties. You’ll also find information on calculating expenses, identifying good investment properties, and how to weigh the pros and cons of investing in rental real estate.
An Introduction to Investing in Office Commercial Real Estate (Jamestown Invest, Feb. 22, 2022)
With increasing demand for office rentals, investors may find new opportunities in this sector. Understand office building classifications, the basics of office tenancy, and office lease structures.
The Beginner’s Guide to Buying Your First Multifamily Property (BiggerPockets.com, Aug. 17, 2021)
This in-depth guide covers the benefits of investing in multifamily properties, how to find and analyze them, financing for multifamily, and how to make an offer.
Property Management
The Difference Between Property Management for Office vs. Industrial and Retail Properties (Aquila Commercial, Mar. 4, 2022)
“The property management services provided for different building types are usually similar. But, it’s important to know the differences so you know what to expect when you hire a property management team. In this article, we take a look at the typical differences in management between office, industrial, and retail properties.”
A Guide: What Does A Property Manager Do? (Rocket Mortgage, Feb. 28, 2022)
This article explains a property manager’s responsibilities, details the fees involved in working with a property manager, and the weighs the pros and cons of hiring a property management company.
Turning the Tables: New Trends in the Multifamily Residential Sector (Journal of Property Management, Jan./Feb. 2022)
“Like in much of the real estate industry, trends in multifamily continue to be driven by events larger than the sector. The impacts of the COVID-19 pandemic are evident in property operations, the services and amenities sought by residents, and the overall demand for different types of multifamily properties.”
The Future of Renting (National Multifamily Housing Council, Jan. 18, 2022)
“This report provides a comprehensive look at the home features and community amenities that renters can’t live without, how much they are willing to pay for them, and what matters during their home search. It features input from over 221,000 renters, living in 4,564 communities nationwide with data available in 79 markets.”
4 Lessons Learned from Single-Family and Multifamily Property Management (National Apartment Association, Sep. 28, 2021)
“As the needs of consumers continue to fluctuate, SFR and multifamily owners and operators can use each other’s respective experiences to both combat challenges and take advantage of opportunities within their respective spaces. Additionally, as the commercial real estate industry continues to digitally transform, the unique opportunities, challenges and learnings from SFR and multifamily housing’s technology journeys are critical to accelerating their transformations and gaining a competitive edge in the market.”
Useful Websites
Institute of Real Estate Management (IREM)
“The Institute of Real Estate Management (IREM) is an association of property and asset managers who have met strict criteria in the areas of education, experience and ethics. Founded in 1933, IREM’s mission is to educate real estate managers, certify their competence and professionalism, serve as an advocate on issues affecting the real estate management industry, and enhance its members’ professional competence so they can better identify and meet the needs of those who use their services.”
National Apartment Association
“NAA is the leading voice for the rental housing industry and as a trusted partner, valued connector and a powerful advocate, we are committed to serving 141 state, local and global affiliates, over 92,000 members and more than 11 million apartment homes globally.”
National Association of Residential Property Managers®
“The National Association of Residential Property Managers (NARPM®), founded in October 1988, provides a permanent trade organization for the residential property management industry. NARPM® continues to be the premier professional association of residential property managers, currently representing more than 6,000 members comprised of real estate agents, brokers, managers, and their employees.”
National Multi Housing Council
“NMHC is the place where the leaders of the apartment industry come together to guide their future success. With the industry’s most prominent and creative leaders at the helm, NMHC provides a forum for insight, advocacy and action that enable both members and the communities they build to thrive.”
Books, eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
The Complete Guide to Buying and Selling Apartment Buildings (eBook)
Complete Landlord and Property Managers Legal Survival Kit (Audiobook, eBook)
Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits (eBook)
Opportunities in Property Management Careers (eBook)
Principles of Real Estate Management (eBook)
Property Management Kit for Dummies® (eBook)
Streetwise Landlording & Property Management (Audiobook, eBook)
What Every Landlord Needs to Know: Time and Money-Saving Solutions to Your Most Annoying Problems (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
The CompleteLandlord.com Ultimate Real Estate Investing Handbook (Hoboken, NJ: Wiley, 2009) HD 1382.5 L49
Buy It, Rent It, Profit! : Make Money as a Landlord in Any Real Estate Market (New York, NY: Simon & Schuster, 2009) HD 1394 C39
7 Secrets to Successful Apartment Leasing: Find Quality Renters, Fill Vacancies, and Maximize Your Rental Income (Chicago, IL: McGraw-Hill, 2006) HD 1384 C91
Every Landlord's Legal Guide (Berkeley, CA: Nolo, 2006) HD 1394 St4e
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