Skip to content

Posts from the ‘Property Management’ Category

21
May

AvenueWest Global Franchise Awarded Top Real Estate Investment Award

Denver, CO – May 20, 2014 – AvenueWest Global Franchise, a leader in the corporate housing industry announced today that they were recognized in Personal Real Estate Investor Magazine’s Annual Top 50 Real Estate Investment Opinion Makers and Market Leaders Awards.

Personal Real Estate Investor Magazine/PREI as a leading publication for individual real estate investors has a role to identify individuals and service providers who are helping move our industry forward,” stated the PREI editors.

AvenueWest Global Franchise has been awarded for the second year in a row the Top 50 Real Estate Investment Opinion Makers & Market Leaders Award from the Personal Real Estate Investor Magazine. :)

AvenueWest Global Franchise has been awarded for the second year in a row the Top 50 Real Estate Investment Opinion Makers & Market Leaders Award from the Personal Real Estate Investor Magazine. 🙂

“This is our second year on the list,” commented Kimberly Smith, the CEO of AvenueWest Global Franchise. “We are honored to join this group of respected industry leaders that are working to establish individual residential investment real estate as a reputable and sound investment opportunity.”

We are looking forward to continued help and service for the individual real estate investor. If you are an investor looking for a full service property management company to manage your portfolio of investment real estate, we are located in Atlanta, GA, Boston, MA, Colorado Springs, CO, Denver, CO, Dallas, TX, Fort Collins, CO & Northern Colorado, Phoenix, AZ, and San Francisco, CA. We can match your property with qualified business travelers, corporate housing clients, individuals, insurance claims, athletes, etc. Contact any of our eight locally owned and operated full property management offices that offer fully furnished residential properties.

 

Advertisements
8
May

AvenueWest Corporate Housing Celebrates 15th Anniversary

AvenueWest Corporate Housing, Inc., founded in April of 1999, celebrates their 15th anniversary this year! :)

AvenueWest Corporate Housing, Inc., founded in April of 1999, celebrates their 15th anniversary this year! 🙂

This Colorado business shows staying power by finding solutions for customers in the economic and housing market’s ups and downs.

DENVER, May 1st, 2014 – AvenueWest Corporate Housing, Inc., started as a small real estate management company but quickly grew to the largest provider of corporate housing rentals in Colorado, added a spin-off of Corporate Housing by Owner and is now the foundation for the national expansion of AvenueWest Global Franchise. This month AvenueWest Corporate Housing is celebrating its 15th anniversary of doing business and providing solutions for property owners, corporate travelers and business owners alike.

In 1999 Kimberly Smith along with her business partner and husband, Eric, founded AvenueWest Corporate Housing, Inc. Which went on to become a multi-million dollar company providing furnished corporate housing and property management services to upscale business travelers. A recognized leader in the industry, AvenueWest was awarded the Corporate Housing Providers Association’s (CHPA) prestigious 2010 Provider Company of the Year Award and listed for 3 consecutive years on Inc Magazine’s Inc 5000 list featuring the country’s fastest growing businesses.

Kimberly Smith states that there are two secrets to the company’s success. First, they work hard to run AvenueWest as a team and develop a place where their employees enjoy coming to work, take pride in what they do and create lasting solutions for the tasks at hand.

Secondly, Smith adds, that they believe in doing business the old-fashioned way, person-to-person with high standards for customer service. “We are able to offer relocated or traveling professionals more than just a temporary place to call home; we also help them get to know and love their new city like we do. So many of our customers come back to us time and time again because they know they can depend on us for reliable information about the city they are relocating to.”

Kimberly and Eric Smith are passionate about people and finding solutions. They believe real estate investors will continue to invest and need the right support teams to protect those investments. “2014 is the year of the real estate investor,” the Smith’s say. “We’re not just interested in running a website or a property management business. What we’re doing is much bigger. We’re educating and developing sustainable systems and residual income. We see today as a time that real estate investment can and should be as accessible as trading stocks.”

Alpha Books, a division of the Penguin Group agrees. The publisher, knowing the real estate landscape had shifted and seeing a need for investment property guidance, recently hired Kimberly Smith to write and share her hard-earned knowledge with the rest of the world and so was born, The Idiot’s Guides: Making Money with Rental Properties. “It’s not good enough to shout from the roof tops that corporate housing is a fantastic venture, we have to show investors how and why in 2014.”

Kimberly Smith continues to lead in the corporate housing industry and served as the 2011 Chairman of the Board of Directors for CHPA, the primary trade organization for the corporate housing industry. Kimberly has been nationally recognized for her business success and her philanthropic endeavors and is frequently featured in media sources like The NY Times, The LA Times, The Denver Post, US News & World Report, MSNBC.com, CNBC and SmartMoney.com.  She was awarded the 2013 Denver Business Journal’s Outstanding Women in Business award for real estate, small business finalist in 2010, a finalist in the prestigious Power Book special section of The Denver Business Journal, a feature in Denver Woman magazine as an outstanding business woman and mother. In 2009 she was selected to join The Denver Business Journal’s elite class of 40 under 40 and in 2010 and was recognized by CoBiz Magazine as a top 5 GenXYZ leader.

About AvenueWest Corporate Housing, Inc.

AvenueWest Corporate Housing, Inc. was found in 1999 by husband and wife team, Kimberly and Eric Smith. Kimberly and Eric began their corporate housing careers in 1994 providing corporate housing to the San Francisco market before relocating to Denver and starting AvenueWest. More information can be found at www.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 Corporate Housing Managed Corporate Housing program that was founded in 1999. Currently AvenueWest Global Franchise has 8 offices located in Atlanta GA, Boston MA, Colorado Springs CO, Dallas TX, Denver CO, Fort Collins CO, Phoenix AZ, and San Francisco CA. For franchise information and opportunities go to: www.AvenueWestFranchise.com.

About CorporateHousingByOwner.com (CHBO):

CorporateHousingbyOwner.com was founded in 2006 out of a need to connect private homeowners and real estate investors offering furnished, short-term rentals with corporate housing seekers such as traveling executives, relocated professionals, traveling nurses, actors, athletes and more. The company gives individual homeowners and investors tools to manage a corporate housing property themselves as well as helps them market their property to a mass audience turning to corporate housing to fulfill their housing needs. More information is available at: www.CorporateHousingbyOwner.com.

7
May

Don’t Miss This CHPA Networking Event if You are in the Phoenix Metro Area!

If you are in the Phoenix Metro Area and are a Corporate Housing Provider or a vendor affiliated with the industry, then you do not want to miss out on this local networking event today, May 7th.

If you are in the Phoenix Metro Area and are a Corporate Housing Provider or a vendor affiliated with the industry, then you do not want to miss out on this local networking event today, May 7th.

5
May

New Testimony :)

Thanks to our wonderful Account Executive, Tandice Emswiller, at the AvenueWest Dallas office, we recently received this testimony from one of our happy customers:

“Hello AvenueWest Dallas, I worked with you two years ago in finding corporate housing for two months, and really enjoyed working with you. Last year, we went with another corporate housing company but did not have the same experience. Well we are in need of a place for the summer again for two months in about a month. I wanted to know what you had available. We need a two bedroom preferably in the uptown/downtown area but are willing to go to other parts of Dallas if it’s something we really like.” -Latoya

Way to go Tandice! 🙂 If you would like to see all of our amazing properties in the Dallas metro area, click here. Contact Tandice directly for pricing and availability – (214) 754-7171 or via email Dallas@avenuewest.com.

One of the many benefits of leasing a fully furnished rental instead of staying in an extended stay property is the full kitchens - this lovely kitchen is just one of the many fine rentals that AvenueWest Dallas has to offer. :)

One of the many benefits of leasing a fully furnished rental instead of staying in an extended stay property is the full kitchens – this lovely kitchen is just one of the many fine rentals that AvenueWest Dallas has to offer. 🙂

22
Nov

Welcome AvenueWest Atlanta!

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 welcomes their newest franchise: AvenueWest Atlanta! We are so excited to help grow this newest market, and for our recent expansion into Phoenix and Fort Collins as well!

AvenueWest Global Franchise welcomes their newest franchise: AvenueWest Atlanta! We are so excited to help grow this newest market, and for our recent expansion into Phoenix and Fort Collins as well!

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.

"Individual homeowners and investors alike who want to offer their furnished homes or condos as corporate rentals properties will have the opportunity to make additional revenue in today's economy..." like at the Sterling of Dunwoody community.

“Individual homeowners and investors alike who want to offer their furnished homes or condos as corporate rentals properties will have the opportunity to make additional revenue in today’s economy…” like at the Sterling of Dunwoody community in Dunwoody, GA.

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.

Currently, AvenueWest Global Franchise has offices in Atlanta, GA, Boston, MA, Colorado Springs, CO, Dallas, TX, Denver, CO, Fort Collins, CO, Phoenix, AZ, and San Francisco, CA.

1
Nov

Welcome AvenueWest Northern Colorado!

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.

Deb Salek, owner of AvenueWest Northern Colorado

Deb Salek, owner of AvenueWest Northern Colorado

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.”

"I see the real opportunity as being with the individual homeowners who want to offer their furnished homes as corporate rental properties." Like at the Mason Street Flats in Old Town, for example.

“I see the real opportunity as being with the individual homeowners who want to offer their furnished homes as corporate rental properties.” Like at the Mason Street Flats in Old Town, for example.

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.

26
Sep

Things to do in Phoenix, AZ this Weekend

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.

  • There are several FREE pool parties this weekend going on in Phoenix, AZ. Don't miss out on the fun! (21 and up only)

    There are several FREE pool parties this weekend going on in Phoenix, AZ. Don’t miss out on the fun! (21 and up only)

    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.
  • For all you Bret Michaels fans out there, he will be performing live in Phoenix this weekend.

    For all you Bret Michaels fans out there, he will be performing live in Phoenix this weekend.

     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.
  • The 2nd Annual Roosevelt Row Chile Pepper Festival is going on this weekend in Phoenix, AZ.

    The 2nd Annual Roosevelt Row Chile Pepper Festival is going on this weekend in Phoenix, AZ.

    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!

12
Jun

Relocating This Summer? Be Sure to Follow These Steps to Make Your Move a Success

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.

  1. Moving this summer? Decide if you are hiring a professional moving company or doing it yourself.

    Moving this summer? Decide if you are hiring a professional moving company or doing it yourself.

     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.

  2. Sift and sort through all of your belongings to determine what you are taking with you and what you aren't. Make four piles: Keep, Donate, Sell, and Trash.

    Sift and sort through all of your belongings a month or so before your move to determine what you are taking with you and what you aren’t. Make four piles: Keep, Donate, Sell, and Trash.

     Determine the items that are going to be coming with you on your move and donate/sell unwanted items to make your load smaller.

  3. Organize and Transfer all of your important documents such as your kids school documents, medical, dental, vision, and veterinary.
  4. Inventory all of the items that will be coming with you and determine if your current furniture will fit in your new place.
  5. Be sure you have all of your moving supplies ready including boxes, packing tape, etc.

    Be sure you have all of your moving supplies ready including boxes, packing tape, etc. Photo courtesy of Guardian Removals

     Get plenty of boxes and moving materials such as packing tape, permanent markers (to write on the boxes), etc.

  6. Be sure you change your address with the post office.

    Before you move, be sure you change your address with the post office.

     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.

  7. Make travel arrangements for your pets (if applicable).
  8. Let your friends and family members know you are moving and give them your new address.

    Let your friends and family members know you are moving and give them your new address.

     Notify your friends and family that you will be moving and give them your new address.

  9. Begin packing the items you won’t be using prior to your move.
  10. Plan your meals ahead 1-2 weeks prior to your move.

    Plan your meals ahead 1-2 weeks prior to your move.

     Plan your meals for the time before your move accordingly.

  11. Be sure to refill your prescriptions before your move so you have enough.

    Be sure to refill your prescriptions before your move so you have enough.

     Refill prescriptions and be sure you have enough until you can get more in your new location.

  12. Pack all valuables and essentials needed on hand during the move – these items should be in the car with you.
  13. Empty and defrost your fridge and freezer 24 hours prior to your move.

    Empty and defrost your fridge and freezer 24 hours prior to your move.

     Drain all water hoses and empty and defrost your fridge and freezer 24 hours before you go.

  14. 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.

2
May

Sometimes Renting is a Much More Economical Option Than Buying: Top 10 Cities

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:

1.

Top 10 Cities Where Renting is more economical than buying: New York City.

Top 10 Cities Where Renting is more economical than buying: New York City.

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.

2.

Top 10 cities where renting is more economical than purchasing: Seattle, WA.

Top 10 cities where renting is more economical than purchasing: Seattle, WA.

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.

3.

Top 10 cities where renting is more economical than purchasing: Boston, MA.

Top 10 cities where renting is more economical than purchasing: Boston, MA.

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.

4.

Top 10 cities where renting is more economical than purchasing: Washington, D.C.

Top 10 cities where renting is more economical than purchasing: Washington, D.C.

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%.

4.

Top 10 cities where renting is more economical than purchasing: San Francisco.

Top 10 cities where renting is more economical than purchasing: San Francisco.

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.

5.

Top 10 cities where renting is more economical than purchasing: Portland, OR

Top 10 cities where renting is more economical than purchasing: Portland, OR

Portland, OR. Zillow Break Even Horizon: 3.6 Years; Zillow Rental Index: $1,423; Annual Change in Zillow Rent Index: 8.6%

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).

6.

Top 10 cities where renting is more economical than purchasing: San Diego.

Top 10 cities where renting is more economical than purchasing: San Diego.

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.

7.

Top 10 cities where renting is more economical than purchasing: Los Angeles.

Top 10 cities where renting is more economical than purchasing: Los Angeles.

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.

7.

Top 10 cities where renting is more economical than purchasing: San Jose, CA.

Top 10 cities where renting is more economical than purchasing: San Jose, CA.

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!

8.

Top 10 cities where renting is more economical than purchasing: Denver, CO.

Top 10 cities where renting is more economical than purchasing: Denver, CO.

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.

9.

Top 10 cities where renting is more economical than purchasing: Austin, TX.

Top 10 cities where renting is more economical than purchasing: Austin, TX.

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.

10.

Top 10 cities where renting is more economical than purchasing: Nashville, TN.

Top 10 cities where renting is more economical than purchasing: Nashville, TN.

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!

27
Feb

Top 5 Overlooked Items Before Signing a Rental Agreement

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.

5 Factors to Consider before signing a rental agreement

5 Factors to Consider before signing a rental agreement

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:

  1. 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.
  2. Refrigerators. Sometimes, this is an appliance that is not included in your rental. Azuma Leasing also rents refrigerators or you can consider purchasing one.
  3. 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.
  4. 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.
  5. 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.

%d bloggers like this: