Our newest location officially opened November 21, 2013: AvenueWest Atlanta located at 5905 Atlanta Highway, Suite 101. AvenueWest Atlanta connects private landlords with business travelers, or relocated families in need of full service corporate housing.
AvenueWest Global Franchise has been tapping into the emerging trend of business executives who are finding both financial freedom and life balance through franchise ownership. Jennifer Haigler, the owner of the AvenueWest Atlanta office, along with her husband Rory, came to the realization she needed the flexibility, provided by AvenueWest, when one day she realized she didn’t even know what her young son was wearing to school that day. Jennifer, a veteran of the corporate relocation industry and a licensed Certified Relocation Professional (CRP) says: “It was a profound moment in time for me as I decided I needed to do something to bring some work/life balance back to my existence.”
AvenueWest’s approach to Managed Corporate Housing is an exciting opportunity that taps into both Jennifer’s previous relocation and corporate housing experience and Rory’s real estate experience as they look to build a long term sustainable business. The Haigler’s say Atlanta is the perfect place to set up a corporate housing shop.
Jennifer continues: “Many relocated families and professionals as well as business executives would prefer to stay in our AvenueWest properties since they provide all the amenities of home. Our properties are in real residential settings instead of the more transient environments found when staying in hotels. The cost to stay in an AvenueWest property is also typically less expensive per night than staying in a hotel.”
Rory adds: Atlanta’s real estate market is currently booming, but there is a shortage of homes available for sale in the metro area.
“There seems to be demand from every corner. As the economy continues to strengthen, more and more people are relocating to Georgia and Atlanta in particular. As of August, Atlanta’s employment grew by 57,100 (a 2.4% increase)! Atlanta’s diverse economy generates a constant flow of people moving into the area to find a new home, and short term housing presents the best solution during that time of transition for relocating families, individuals, and executives alike, especially since the homes on the market are being snagged so quickly,” stated Rory.
“Individual homeowners and investors alike who want to offer their furnished homes or condos as corporate rental properties will have the opportunity to make additional revenue in today’s economy. By partnering with us and using our proven Managed Corporate Housing system, we can both benefit from the growing need for temporary housing solutions in the area. It’s exciting to be able to help owners develop their investment properties and turn them into major profit centers,” added Jennifer.
Kimberly Smith, the CEO of AvenueWest Global Franchise, says that opening an office in Atlanta is the latest step in an aggressive expansion plan that the company initiated in July of this year.
“AvenueWest’s privately owned properties offer more choices to today’s executives or relocated individuals who want a fully furnished property with all the comforts of home, high-end furnishings, and many times, amazing amenities over standard corporate housing rentals or extended stays,” says Smith. “With the Haigler’s knowledge of the area and the local real estate, relocation, and corporate housing industries, AvenueWest Atlanta is uniquely positioned to offer the kind of rental properties required by discerning executives and individuals and families who are being relocated to the area. It also offers the opportunity for private landlords to earn greatly increased rental income on their properties.”
If you or someone you know is being relocated to the Atlanta area, you can contact AvenueWest Atlanta directly by calling 678-901-9171 or by emailing Jennifer at JHaigler@AvenueWest.com. If you are a property owner or investor who wishes to put their fully furnished home, condo, town home, or loft into AvenueWest Atlanta’s inventory, contact Rory at RHaigler@AvenueWest.com.
About AvenueWest Global Franchise
Established in 2010, AvenueWest Global Franchise grew from the desire to expand the business opportunity and corporate housing excellence achieved through the AvenueWest Managed Corporate Housing program that was founded in 1999.
AvenueWest Northern Colorado, a franchise of Denver-based AvenueWest Global Franchise, opened its doors on November 1, 2013 and is owned and managed by Deb Salek.
AvenueWest Northern Colorado connects private landlords with business travelers in need of full service corporate housing.
AvenueWest Global Franchise has been tapping into the emerging trend of departing business executives who are finding both financial freedom and life balance through franchise ownership. Deb Salek was a former senior level analyst with Qwest Communications and now owns her own AvenueWest franchise. Deb’s exit from corporate America is a developing national trend. Her first step was to decide to leave her office job. She built a successful residential real estate business as a broker associate with RE/MAX, which provided the flexibility she needed with her two young children. Then Deb and her husband, Todd, chose to relocate to Fort Collins, CO, a city they found as the best compliment to their quality of life vision. When looking to target the relocation market more specifically, Deb found AvenueWest Managed Corporate Housing to be an exciting opportunity which taps into both her corporate and real estate experience as she looks to build a long term sustainable business.
“Fort Collins offers this amazing quality of life and energy that is fueling growth and causing a positive relocation trend for the city. With a diverse blend of corporations, Colorado State University, state of the art hospitals, government entities and a burgeoning craft beer industry, Fort Collins economy continues to strengthen. Fort Collins is also in the midst of a hot housing market with property inventory at a premium so it may take people several months to find a new home, and short-term housing presents the best solution during that transition.”
Salek continues: “The people that stay in our AvenueWest properties prefer to have the amenities of home and appreciate that it is a less transient environment than what they would find in a hotel. The cost to stay in an AvenueWest property is also typically less expensive per night than staying in a hotel. There seems to be a demand from every corner: corporations, visiting professors, medical personnel, the oil and gas industry, tourists, and so forth. I see the real opportunity as being with the individual homeowners who want to offer their furnished homes as corporate rental properties. They will have the ability to work with us to capitalize on and profit from the growing need for temporary housing solutions in the area. It’s exciting to be able to help owners develop their investment properties.”
Kimberly Smith, the CEO of AvenueWest Global Franchise, says that opening an office in Fort Collins has been on her wish list since the day she started her managed corporate housing business in the LODO area of Denver some 14 years ago and a priority since launching AvenueWest Global Franchise in 2010. “An executive who wants a furnished property with all the creature comforts of home and high-end furnishings will have a strong preference for AvenueWest’s corporate rental properties over a transient hotel setting or other generic apartment rentals. With Deb’s knowledge of the area and industry, AvenueWest Northern Colorado now offers the kinds of rental properties required by discerning executives. It also offers the opportunity for private landlords to earn greatly increased rental income on their properties.”
To offer your property for rent through AvenueWest Northern Colorado, or to find a property during your temporary stay in the area, contact Deb Salek at 970-797-3099 or via email at: DSalek@AvenueWest.com. AvenueWest Northern Colorado connects private landlords with those in need of corporate housing. Corporate housing is defined as fully furnished rental apartments, homes or condominiums offered for rent on a short-term basis, usually for one month or more.
About AvenueWest Global Franchise
Established in 2010, AvenueWest Global Franchise grew from the desire to expand the business opportunity and corporate housing excellence achieved through the AvenueWest Corporate Housing Managed Corporate Housing program that was founded in 1999.
Currently AvenueWest Global Franchise has offices in Boston MA, Colorado Springs CO, Dallas TX, Denver CO, Fort Collins CO, Phoenix AZ and San Francisco CA, and has recently embarked on an aggressive expansion plan with expectations to open an office before year’s end in Atlanta GA.
Whether you are planning to take a trip for business or pleasure, these ten applications are sure to make your life easier.
Search for everything travel related (flights, rental cars, hotels, etc.) all in one place! This application is available for the iPhone, Android, Windows, and Amazon’s Kindle Fire.
- Lonely Planet Travel Guides.
Download this free app to have access to hundreds of Guide Books right at your fingertips. You can download the app from the Apple Store and can also download ebooks as well.
- UNESCO World Heritage App.
This app is $2.99 and available from the Apple Store for iPhone and iPad. The cost is worthwhile since you get access to location maps for all sites; over 650 photos; the ability to search by country, classification, or name; create your favorites and plot them onto Google Maps; links back to the UNESCO site for more information.
Another travel guide app that acts as your personal, mobile tour guide around most world cities. You can download this app on iPhone, iPad, and Android devices. Create a unique travel itinerary with the sites that you want to see. mTrip has a nice offline map feature that allows you to view maps and navigate around the city when you don’t have an internet connection. You can even send your friends and family members virtual postcards via email or Facebook.
This app is available for the iPhone, iPod, iPad, Android phones and tablets and provides you with travel guides, reviews from other users, and you can even download offline city guides which you do not need an internet connection for and they won’t charge your phone for roaming.
Is a free app that allows you to view and book hotels worldwide, access your reservations even when you are offline, and track and redeem points. Available for iPhone, iPad, Android, and Windows.
A new way to search for flights and hotels is by using the cute app Hipmunk (which appropriately features a chipmunk as it’s mascot). The search results are easy to see and easy to book. You can filter the flight searchs by “agony” which will show you flights by the least amount of fly time, layovers, and price. The hotel search results shows at a glance if the hotel provides parking, wifi, fees, etc.
This is another free app that allows you to search for flights. It is available for iPod, iPad, Android, Blackberry, Windows Phone, and Windows 8. You can filter it by showing the cheapest days to fly (if your dates are flexible), it also shows you the cheapest times to fly. Filter searches by take off/landing times, prices, and airlines. It is available in over 28 languages and 68 currencies too!
The name says it all – use this free app to keep yourself organized and on track when you are getting ready to pack for your next upcoming trip. Features include: unlimited list building and you can reuse past lists; a catalog of over 300 items to choose from; add any item to any category; you can enter quantities and notes for each item; and email the list to anyone when you are done, etc. Available for Apple and Android.
- JetLag Genie.
The perfect companion for a long trip oversees to help you beat jetlag. Available for iPhone or iPod touch, this app prepares you for your upcoming trip by allowing you to create customized daily plans before, during, and after you arrive at your final destination. Input your normal sleep patterns and flight information to get customized results. There is a melatonin guide too.
Planning any vacation or business trip can be a headache but with these top travel applications at your fingertips, your next trip is just a click away. If you are traveling with in the United States and prefer to stay in a fully furnished residential property rather than a hotel, then check out AvenueWest Managed Corporate Housing now in Boston, Colorado Springs, Dallas, Denver, Fort Collins, Phoenix, and San Francisco.
There are so many fun things to do in the valley of the sun and here are some going on this weekend around the Phoenix, AZ metropolitan area.
FREE 21+ Pool Parties! The Talking Stick Resort is hosing one from 11am-6pm this Saturday and Sunday – ages 21 and up. They are located at 9800 E. Indian Bend Road, 480-850-4350. There is also one at El Santo Cantina from 11am-sunset on Saturday and Sunday. They are located at 7301 E. Butherus Drive, Scottsdale, 480-584-3801.
- Farmers Markets around Phoenix: Phoenix Public Market, 721 N. Central Ave, 8am-noon this Saturday. Ahwatukee Farmers’ Market, 4700 East Warner Road, Phoenix, Az 85044, open Sunday from 8am-11am. Roadrunner Farmers’ Market, 3502 E. Cactus Rd, Phoenix, AZ 85032, open Saturday from 7am-11am.
- 6th Annual Tukee Fest: “Rockin in the Park.” 6pm-10pm, Saturday, September 28th, Ahwatukee Park 4700 East Warner Road, Phoenix, AZ 85044. Enjoy live music, sports games, live motocross jumps and tricks, food and drinks available for purchase from Nello’s Pizza, Macayo’s and Tom’s BBQ. Tickets are $10 for adults and $5 for kids 12 and under.
- Vampire Weekend Concert: 8pm Friday, September 27th. Comerica Theatre, 400 W. Washington Street, Phoenix. Tickets are $29.50-$39.50.
Bret Michaels’ Concert: 8pm Saturday, September 28th. Wild Horse Pass Hotel and Casino, 5040 W. Wild Horse Pass Blvd, Gila River Reservation. Tickets are $54-$114
- Keith Urban Concert: 7pm Sunday, September 29th. Ak-Chin Pavilion, 2121 N. 83rd Ave, Phoenix. Tickets are $29.25-$59.
- Jimmy Eat World Concert: 8pm Sunday, September 29th. Marquee Theatre, 730 N. Mill Ave, Tempe. Tickets are $30 at the door and $27 in advance.
- Steve-O performs live at the Tempe Improv all this weekend. Friday and Saturday nights at 7pm and 10pm and on Sunday at 7pm. 930 E. University Drive. Tickets are $20-$35. Age 18 and up. Two drink minimum required.
2nd Annual Roosevelt Row Chile Pepper Festival. Saturday, September 28th from 5pm-11pm at the A.R.T.S. Market, 408 E. Roosevelt St., Phoenix. $10 in advance, $15 at the gate.
- The Taste at Tempe Marketplace: Help raise money for the local Boys and Girls clubs while enjoying samples from 10 different local restaurants. 5pm-8pm, Sunday, September 29th. 2000 E. Rio Salado Pkwy. Tickets are $40 for one or $70 for two.
- Symphony Idol: “American Idol” alums join the Phoenix Symphony this weekend only to showcase pop inspired tunes. Friday, September 27th at 7:30 pm or Sunday, September 29th at 2pm. Tickets are $18-$83. Symphony Hall, 75 N. Second Street, Phoenix.
These fun-filled fall events are not only great for Phoenix Locals, but for the business traveler as well! There is bound to be one (or more) events going on this weekend that will please your whole crowd.
If ever there is a need for corporate housing or short-term fully furnished housing or full property management in the Phoenix metro area, AvenueWest Phoenix can help you out. Contact us today – we would love to find you the perfect housing solution!
As covered in last week’s blog post “The Rising Costs of Business Travel and Managing Your Company’s Expenses,” the cost of business travel is increasing. Despite the rise in gas prices which ultimately affects the costs of flights, rental car rates, and other transportation services, there are still ways that you can save your company some serious dough when it comes time to book your next business trip.
The eBook 10 Ways to Cut Corporate Travel Costs has lots of great solutions to save your company money when it comes to travel.
- Create a company wide travel policy. This policy should be in writing and distributed to everyone. It needs to include booking guidelines, expense allowances, and travel budgets.
Hire a Travel Coordinator. Having one person in charge of booking all of your companies travel arrangements will allow them to find the best rates on flights, hotels, and cars since this is their primary responsibility. They will also know more ways to save money. Small business? No problem. Simply assign this task to one of your existing employees.
For longer stays, try an extended stay hotel or corporate housing. Providing your employees accommodations with kitchens will ultimately save money on meals.
Book mid-priced hotel rooms. Many 3 star hotels have been revamped to accommodate business travelers for a fraction of the cost. Many include free wi-fi, breakfast, and meeting rooms. Be sure your employees know that the company will not cover room service or mini-bar charges.
- Negotiation is always an option. Most hotels do offer corporate rates. Be sure to tell them that you are booking travel for your company. If they don’t offer a discount right off the bat, then you can always tell them you have narrowed it down between their hotel and another hotel close by and see if they offer you a discount then.
Encourage employees to stay with friends or family. If your employee has friends or family in the area and they choose to stay there (which will ultimately save you tons on accommodations) then give them an allowance for a thank you gift or dinner compliments of the company.
Book all travel arrangements in advance. The cost of airlines, hotels, and rental cars increase the closer it gets to your trip. In order to save money, be sure to book well in advance if possible.
- Save money on rental cars by booking with smaller brands. Many times, there are other rental car companies that can offer lower rates. They might not be at the airport but typically do offer complimentary shuttle service.
- Purchase coach class for domestic travel. The plane will get your employees to their destinations regardless of what type of seat they have so only splurge on business class if it’s an international flight.
Hire a Shuttle or Bus for larger group travel. Many offer free wi-fi, video, parking, and refreshments and will allow you to take the whole company for much cheaper than flying!
Hopefully these ten tips will help your company save money the next time you have to book travel arrangements for yourself and/or employees.
If you are frequently relocated for your job, having a pet that is able to travel with you will make the transition your new surroundings that much easier. There are several factors to consider; however, before you pick out your new four-legged friend. You want to be sure that your new pet can spend hours alone, travels well, and adapts to changing work schedules and new surroundings easily.
Smaller breeds will be better to travel with. Most cat breeds are small enough to take with you on a plane ride but choose carefully when it comes to which breed of dog you choose. Asking a veterinarian will be your best bet to determine the size of your full grown pup if it is a mixed breed and you adopt it from a shelter. Generally, big paws = big dog.
Choose a pet with the appropriate temperament level. Breeders are a good source to find out a particular breed’s temperament. You can check out http://iaabc.org/dog to find training consultants near you and read their blog all about dogs. You can also visit atts.org for information all about temperament testing and breed statistics.
Start the training process right away. Consistency is key when you train your new pet. Be sure you stop any bad behaviors as soon as you see them and put your new pet on a set schedule. Don’t allow your new pet to do anything that you don’t want it to continue doing once it is settled in.
After they are fully vaccinated, expose them to the traveling lifestyle. Be sure you get your new pet accustomed to car rides and their pet carriers that they will be in during travel so that they can get used to this before you take your first journey together. Get them some toys to play while you are gone during the day.
Pets bring joy into our lives and can make our transition easier whenever we are relocated to a new city. Be sure you choose a good travel companion that can easily adapt to their new surroundings as well and changes in your schedule. Most places do allow pets but many times they have weight restrictions so be sure to keep this in mind when selecting your new pet. Follow all the above tips and pretty soon your pet will be the perfect travel companion!
To find the perfect home away from home that accepts pets nationwide, visit www.corporatehousingbyowner.com or if you are relocating to Boston, MA; Denver, CO; Dallas, TX; San Francisco, CA; or Colorado Springs, CO, visit www.avenuewest.com for fully furnished, all-inclusive short or long term rentals.
Ahhhh summertime. The weather is hot and the living is easy, that is if you don’t have to move! Moving is a stressful process that has way too many moving parts. But, if you get organized and follow the checklist below, your move should have less headaches.
Decide how you are going to get all of your stuff from your current residence to your new one: are you going to hire a moving company or do it yourself? If you decide to hire a professional moving company, shop around to find the one that is going to be the most cost-effective for your trip. You can always hire a go-between company such as Consumers Relocation that will assign you to your very own agent who will find you the best rates from companies that they have a lasting relationship with. If you plan to do the move yourself, be sure you find some friends and family members that can help you out on moving day.
Determine the items that are going to be coming with you on your move and donate/sell unwanted items to make your load smaller.
- Organize and Transfer all of your important documents such as your kids school documents, medical, dental, vision, and veterinary.
- Inventory all of the items that will be coming with you and determine if your current furniture will fit in your new place.
Get plenty of boxes and moving materials such as packing tape, permanent markers (to write on the boxes), etc.
Change your address with the post office. Disconnect your current utilities/cable/phone/internet services and have them re-connected or set up at the new place prior to your move.
- Make travel arrangements for your pets (if applicable).
Notify your friends and family that you will be moving and give them your new address.
- Begin packing the items you won’t be using prior to your move.
Plan your meals for the time before your move accordingly.
Refill prescriptions and be sure you have enough until you can get more in your new location.
- Pack all valuables and essentials needed on hand during the move – these items should be in the car with you.
Drain all water hoses and empty and defrost your fridge and freezer 24 hours before you go.
- Check the house to make sure that you have everything on moving day. If you are hiring a professional moving company, be sure you go over the inventory list before and after you arrive at your new destination.
Hopefully this moving checklist will help anyone relocating this summer. If you are going to be relocating to a new city entirely, it might be wise to get a fully furnished rental in the new neighborhood for a couple months before your move to familiarize yourself with your new surroundings. Or, if you are having problems selling your current house and need to move to the new location right away, you could always hire a property manager that can manage your property on your behalf and get you some additional income until the property can be sold.
A recent article in The Boston Globe by Katie Johnston found that Boston’s short-term housing market is on the rise since more patients, relocating professionals, traveling nurses, etc. find that staying in a fully furnished apartment is much nicer than staying in a hotel for an extended period of time. After all, staying in an apartment which is residential in nature vs. a hotel which is transient is going to make your stay that much more comfortable. Plus, most corporate apartments include a fully stocked kitchen, cable, internet, phone service, secured building, amenities, etc. all for one great rate.
According to Smith Travel Research, Inc. – a hotel research company based in Tennessee – extended stay properties grew 4x faster than all other hotels from 2007-2012. In Boston, the amount of extended stay properties grew twice as fast as available hotel rooms.
Our newest franchise owner, Patrick Flynn, of Northeast Suites/AvenueWest Boston was featured in this article: “Increased hiring by biotechnology and pharmaceutical companies is adding to the demand as new employees look for permanent housing.” More companies are relying on contractors to get the job done in a matter of weeks or a couple months. Short-term housing is a better alternative than staying at a hotel during this time. Currently, Patrick has about 120 fully furnished apartments in the Boston metro area and 80+ across the nation. He expects his revenue to double to more than $3 million this year with the influx of people needing short-term, fully furnished apartments.
There is a large number of European guests needing temporary housing while they receive treatment at nearby hospitals in Boston. A recent study conducted found that the US Food and Drug Administration is approving cancer drugs faster than European regulatory agencies. Many clients come over to Boston to seek the newest cancer treatments that are currently unavailable in their counties.
The rise in extended stay properties nationwide means there is a greater demand for short-term temporary housing. Why not choose a corporate housing unit for your next short-term stay? These can be true home-away-from home properties that make you more comfortable while getting adjusted to your new city.
A recent article posted at NBCNews.com Business uses Zillow’s Break Even Horizon to determine the top 10 cities where renting is more economically sound than buying and how long it takes on average to break even if purchasing a home. This figure is calculated based on the net cost of purchasing a home vs. renting the same house. Here are the top 10 cities renting costs less than buying:
New York City, NY. Zillow Break Even Horizon: 5 Years; Zillow Rental Index: $2,016; Annual Change in Zillow Rent Index: 19.4%
Renting an apartment in the city would save more money than purchasing a home unless you were going to be living in NYC for more than 5 years. The average home price is $462,500. A 20% down payment is going to be $93,000 for a home this much and with the current rate of 3.277% and a 30 year fixed mortgage, you are looking at a monthly mortgage payment of $2,145 which is higher than the current rental index.
Seattle, WA. Zillow Break Even Horizon: 4.3 Years; Zillow Rental Index: $1,850; Annual Change in Zillow Rent Index: 4.7%
Waterfront property in Seattle averages about $392,200 as of December 2012.
Boston, MA. Zillow Break Even Horizon: 3.9 Years; Zillow Rental Index: $2,299; Annual Change in Zillow Rent Index: 11.3%
Based on 25 new single family homes for sale in Boston, MA, the average home costs $727,200. A 20% down payment is $145,000 with a 3.277% interest rate, your monthly mortgage payment would be $3,334. Renting in Boston on average would be a monthly savings of $1,035.
Washington, D.C. and San Francisco, CA tied for 4th for the amount of years it would take to break even if purchasing a home.
Washington, D.C. Zillow Break Even Horizon: 3.7 Years; Zillow Rental Index: $2,439; Annual Change in Zillow Rent Index: 7%
There has been an increase in new home development in the D.C. area. As of December last year, the average home cost $402,400 which is up by 10%.
San Francisco, CA. Zillow Break Even Horizon: 3.9 Years; Zillow Rental Index: $3,281; Annual Change in Zillow Rent Index: 12%
San Fran has seen an 18% increase in home sale prices year after year! Currently, the average home costs $770,600. A 20% down payment of $154,000 with the current interest rate of 3.277% would be a $3,529 monthly payment. By renting, you would save on average of $248 a month.
Portland, OR. Zillow Break Even Horizon: 3.6 Years; Zillow Rental Index: $1,423; Annual Change in Zillow Rent Index:
Portland has the most bike commuters in the U.S. Last year, 21.49% of homes sold were sold at a loss, but the average value of homes has risen 8.8% ($257,400).
San Diego, CA. Zillow Break Even Horizon: 3.4 Years; Zillow Rental Index: $2,116; Annual Change in Zillow Rent Index: 2.9%
The average San Diego home value is up 11% making the average home $404,100.
Los Angeles, CA and San Jose, CA tied for 7th place based upon the number of years it would take to break even after purchasing a home in either location.
Los Angeles, CA. Zillow Break Even Horizon: 3.3 Years; Zillow Rental Index: $2,311; Annual Change in Zillow Rent Index: 2.3%
Los Angeles has a very high unemployment rate and the home rates dropped about 35% which actually makes L.A. more affordable for home owners. The average home costs $399,800 which was up by 9.7% as of December 2012. If you put down a 20% payment of $80,000 with the 3.277 interest rate with a fixed 30 year mortgage, your monthly payment is going to be $1,863.
San Jose, CA. Zillow Break Even Horizon: 3.3 Years; Zillow Rental Index: $2,513; Annual Change in Zillow Rent Index: 4.5%
San Jose, CA has a lot more people interested in purchasing homes since the average annual income is $92,500. San Jose has a very high employment rate with over 6,000 technology companies. The average home in San Jose is $544,600 so if you put down 20% ($109,000) + 3.277% + 30 years = $2,514 monthly mortgage payment which is $1 higher per month than the current rental index!
Denver, CO. Zillow Break Even Horizon: 2.8 Years; Zillow Rental Index: $1,468; Annual Change in Zillow Rent Index: 9.3%
As of December 2012, Denver’s average home value was up by 14.1% with the average home costing $233,700.
Austin, TX. Zillow Break Even Horizon: 2.7 Years; Zillow Rental Index: $1,516; Annual Change in Zillow Rent Index: 6.2%
At the end of last year, Austin had an overall home value increase of 4.7% = $209,900.
Nashville, TN. Zillow Break Even Horizon: 2.6 Years; Zillow Rental Index: $1,190; Annual Change in Zillow Rent Index: 3.8%
The average home cost is now $140,000, which is up by 6%.
Most of the cities listed above experienced an overall increase last year in their median home values which is great news overall for the market!
Renting is much more prevalent these days than purchasing a home. Many times, people who are relocated prefer to stay in a rental before deciding to purchase a more permanent living solution. Renting is also great for individuals who want to explore a new city but don’t want to stay there permanently.
Many apartment communities do typically require a year lease to be signed and there are 5 factors that need to be taken into consideration before you sign on the dotted line:
- Laundry. Typically, apartment complexes do not include a washer and dryer in the units themselves but have a common laundry area. Sometimes, washer and dryer hook-ups are available in the units and it might be wise to consider purchasing a washer and dryer or you can rent these. Azuma Leasing rents washers and dryers for a small monthly fee. They are located in most of the states, excluding New England and many of the northern states. If you are okay with sharing a common laundry area, be sure to take note of where the facilities are located in relation to your unit; if weather will be a factor or if you have to climb stairs with your heavy laundry.
- Refrigerators. Sometimes, this is an appliance that is not included in your rental. Azuma Leasing also rents refrigerators or you can consider purchasing one.
- Proximity. Be sure you find out how close you are going to be to your neighbors and what types of sound proofing (if any) the complex has utilized for noise cancellation. Opting for a top floor unit will eliminate noise from overhead but not necessarily next door.
- Storage. Most apartments do not typically offer ample closet space. Sometimes, a unit will come with a storage unit on the balcony. If the unit you want doesn’t have enough room to store your belongings, there are alternatives. Certain furniture items come with built-in storage. There are other organizational tricks online that will help you maximize your space without cramped living.
- Decor. You found the perfect rental within your price range and area but don’t like the outdated feel of the interior of the apartment. Ask your landlord if you could do some small repairs, painting, and updating for a discount in your rent. Be sure that it is agreed upon in writing and be sure you know of any limitations so you don’t get charged for these updates later on.
Most of these items are not necessarily deal breakers but they are important factors to consider before you get into a year-long lease.