Housing Rents in U.S. Dip for First Time in 2 Years

Yardi Matrix | October 16, 2019

According to Yardi Matrix, as part of a seasonal respite, the national average residential rent in the U.S. decreased for the first time since February 2017, dipping by -0.1% ($1) from last month to $1,471. The decrease might seem insignificant, but coupled with the slowest year-over-year hike in the past 13 months, 3.2% ($45), it points to a slight wind-down in rent prices in the context of a more volatile financial climate. Since last month, apartment rents saw minor declines in more than half of the cities we analyzed. Small and large cities lead the trend, with prices dropping in 59% of small cities and 56% of large cities, while 42% of mid-sized cities saw their rates dwindle in September 2019.

Spotlight

Local Demographics provides up-to-date and meaningful insights into the population living around a location or in any defined area within the U.S. and Canada. This widget allows MLSs, brokerages, and end users to learn more about a specific location and its demographics.

The new SDK exists as an out-of-the-box solution ready for implementation that requires minimal development and design effort.

Using Local Demographics, real estate players can integrate and display information on their listing site to allow home buyers and renters to better understand the area where their property of interest is located.

Spotlight

Local Demographics provides up-to-date and meaningful insights into the population living around a location or in any defined area within the U.S. and Canada. This widget allows MLSs, brokerages, and end users to learn more about a specific location and its demographics.

The new SDK exists as an out-of-the-box solution ready for implementation that requires minimal development and design effort.

Using Local Demographics, real estate players can integrate and display information on their listing site to allow home buyers and renters to better understand the area where their property of interest is located.

Related News

REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT

Qualia Launches Atlas, the Ultimate Enterprise Solution for Connected Real Estate Transactions

PRweb | March 21, 2023

Qualia, the leading digital real estate closing platform, today announced the launch of Qualia Atlas, a revolutionary new addition to their cloud-based title, escrow, and closing solutions. Atlas, which combines title and escrow production and vendor management along with client and homebuyer connectivity, is built with newly developed advanced configurability and automations to manage the unique complexity of national enterprise operations. “We originally launched Qualia almost 10 years ago with the belief that a modern technology infrastructure could fundamentally transform homebuying into a simple, secure, and enjoyable experience for everyone involved,” said Nate Baker, Qualia’s Co-founder and CEO. “Atlas is the culmination of several years of development to provide a unified closing platform for enterprise title companies.” Atlas includes a suite of newly released enterprise-critical functionality and services: Data access via an enhanced API for integration with internal systems such as CRM, analytics, and accounting tools Order opening automations to assist teams with high transaction volumes Privacy and permissioning controls for multi-branch or agency operations Sophisticated tasking capabilities to support centralized operations functions A suite of anti fraud tools In addition, Atlas provides companies with a standardized integration layer that is easy to manage across all transaction parties, eliminating the need for rigid custom-built integrations. This integration layer enables title companies to efficiently partner with their lenders, real estate agents, vendors, consumers, and underwriters. These integrations automate title & escrow companies’ workflows and the dependent workflows for their transaction partners. By providing enterprise-critical functionality and a standardized integration layer, Atlas enables the "connected transaction." This groundbreaking technology streamlines real estate closings from end-to-end for all parties involved in the transaction. About Qualia Qualia is the leading comprehensive digital closing platform used by title, escrow, real estate and mortgage lending professionals to transform home buying and selling into simple, secure, enjoyable experiences for millions of homeowners each year. The Qualia platform provides a secure system of record for the real estate settlement ecosystem through a suite of workflow, accounting, reporting, and collaboration products as well as its expansive product and service integrations. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX, and Superior, CO. For more information on Qualia, visit http://www.qualia.com. Contact: Matt Kaufman, press@qualia.com

Read More

MARKET OUTLOOK, REAL ESTATE INVESTMENT

Landlord Studio Helps Property Investors Maximize Deductibles With Fully Automated Expense Reconciliation App

PRweb | April 13, 2023

Specialist rental accounting and management platform, Landlord Studio has announced the launch of a fully-automated expense management solution for real estate investors, ensuring they never miss another deductible expense. The new functionality enables Landlord Studio users to fully automate previously time-consuming and error-prone accounting tasks. The app now imports their bank transactions in near real-time and automatically matches them to scanned receipts before categorizing them properly, which radically improves accounting accuracy. Staying on top of expenses is key to running a profitable investment portfolio - whether you have one or 100 units. By doing away with manual data entry Landlord Studio makes keeping accurate and up-to-date financial records easy, giving investors complete oversight of their finances throughout the financial year. When paired with Landlord Studio’s real estate specific reports, such as the Schedule E report (Form 1040), the new app enables investors to both reduce their end-of-year accounting task list and file a more accurate tax return. As a result, investors that use Landlord Studio are able to find more than $500 per property each year in additional deductions, whilst simultaneously saving hours or even days of admin time. Charles Chan, CEO of Landlord Studio said, “This new bank feeds technology sets the standard for income and expense management and is proving to be hugely popular with landlords in all markets. It radically simplifies the process of tracking expenses and is integrated with Xero, to make tax time super easy for accountants too.” About Landlord Studio Landlord Studio is a leading provider of income and expense management technology for ‘DIY’ landlords with between one and 20 investment properties. In business since 2014, Landlord Studio is used to manage more than 40,000+ properties across the US and UK and is growing fast thanks to its full suite of property management functionality that includes online rent payment, Xero integration, tenant screening and property maintenance.

Read More

MARKET OUTLOOK, REAL ESTATE TECHNOLOGY

The Agency Launches First Office in Indianapolis, Indiana

PRweb | May 23, 2023

Global real estate brokerage The Agency proudly announces the launch of its first franchise office in Indianapolis, Indiana. The new locale, which will be known as The Agency Indianapolis, is the firm’s first office in the state of Indiana, and second in the Midwest following Birmingham, Michigan, which opened in 2022. The Indianapolis office joins the brokerage’s growing network of more than 80 offices in the U.S., Canada, Mexico, the Caribbean, and Europe and will be led by industry veteran and Managing Partner Traci Garontakos. Traci and her team will service the greater Indianapolis region with a focus on the city’s thriving suburbs of Zionsville, Carmel, Westfield, Noblesville, and Fishers. “We’re thrilled to continue our expansion across the Midwest with the launch of our first office in Indiana,” said Mauricio Umansky, CEO and Founder of The Agency. “We’re delighted to partner with Traci Garontakos, a well-respected and accomplished professional in our industry, as we unveil our new location in Indianapolis.” The Agency has rapidly expanded its presence across the globe throughout the past year, making it one of the fastest-growing luxury boutique brokerages in the world. The Agency’s independently-owned brokerages are referred to and integrated as true global partners. Every Managing Partner, from both corporate or independently-owned offices, operates cohesively as one true global network. Rather than simply using brand likeness in their marketing, The Agency’s global partners enjoy the same access to leadership, marketing, public relations, training, tools, and technology as our corporate offices. In Q1 of 2023 alone, The Agency launched eight new offices, with more on the horizon in the coming months. “Indianapolis is a thriving market that holds great synergy with The Agency brand as we continue to deepen our brokerage’s presence in the Midwest,” said Jim Ramsay, Executive Vice President of Franchise Sales at The Agency. “We look forward to servicing this thriving destination as we bring The Agency’s unparalleled network and resources to buyers and sellers throughout Indianapolis.” Traci Garontakos serves as Managing Partner of The Agency Indianapolis and is a proud resident of Zionsville, as well as a highly accomplished real estate professional with more than 20 years of experience in building lasting business relationships. With a passion for design and a personal commitment to working tirelessly for her clients, Traci has established herself as a trusted and respected figure in the local real estate industry. As a top producer for many years, Traci has a deep understanding of the luxury real estate market and has developed a keen eye for identifying the best opportunities for her clients, who appreciate her attention to detail and ability to make the buying and selling process as stress-free as possible. She has a reputation for going above and beyond to ensure her clients are satisfied and happy with their real estate transactions. Traci has built a team of dedicated professionals who share her commitment to excellence, resulting in $50 million in annual sales in 2022. As a top producer in the luxury real estate industry, Traci’s reputation for exceptional service and results speaks for itself. “The Agency’s global brand presence and innovative marketing align perfectly with the culture of our business and the city of Indianapolis,” said Traci Garontakos. “I am excited to lead our team and continue to serve the greater Indianapolis region and its suburbs, which continue to experience unprecedented growth and development while maintaining the charm, beauty, and idyllic Midwestern lifestyle afforded within our local community.” With solid infrastructure, The Agency has a renowned brand that is featured on international television shows including “Million Dollar Listing Los Angeles,” “The Real Housewives of Beverly Hills,” and “Buying Beverly Hills,” which debuted on Netflix on November 4, 2022 and just announced its second season. The Agency has grown to more than 80 corporately owned and franchise offices across the globe, making it one of the fastest-growing luxury boutique brokerages in the world. Poised for further expansion with like-minded partners in strategic markets, The Agency is noted by The Financial Times as one of America’s Fastest Growing Companies and has ranked among Inc. 5000’s list of fastest-growing private companies in the country for six consecutive years. Recently, The Agency ranked 18th on the 2023 RealTrends 500 list, and ranked as the fifth-largest privately held independent brokerage in the nation by sales volume. In August 2022, Inman named The Agency Luxury Brokerage of the year. The Agency Indianapolis is situated within a historic farmhouse known as The Holliday House at Holliday Farms, located at 3546 South US 421, Zionsville, IN 46077. The Agency The Agency is an agent-first, tech-driven boutique luxury global brokerage representing clients worldwide in a broad spectrum of classes, including residential, new development, resort real estate, luxury leasing and vacation rentals. Breaking away from the traditional brokerage model, The Agency takes a collaborative approach to the business, fostering a culture of partnership in which all clients and listings are represented in a collaborative environment. Agents and clients benefit from the shared resources and networks of the entire global team, including in-house creative, public relations and cutting-edge technology divisions. The Agency has closed more than $57 billion real estate transactions since 2011, comprising over 80 offices in ten countries, and counting, as one of the fastest-growing boutique, luxury real estate brands in the world. Watch The Agency on Buying Beverly Hills, a new real estate occu-soap highlighting the high-stakes world of luxury real estate in Los Angeles, currently streaming on Netflix.

Read More