BiggerPockets Daily

Rental costs have gone up, up, and up. Everywhere we look, we see headlines about the exorbitant cost of renting, whether an apartment or an STR. Small real estate investors must strike a balance. They’re torn between raising rental amounts to account for inflation, high property prices, taxes, and rental demand, plus the tension of sustainability. After all, higher rental prices without a rentership experience that justifies it might drive good residents to look elsewhere. Keep reading the article here: https://www.biggerpockets.com/blog/6-ways-to-raise-rent-while-respecting-your-residentsBecome a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Running a rental business is about more than just collecting rent; it’s managing your properties carefully and professionally. Many investors, especially new ones, often cut corners to save time or money. However, making informed decisions when setting up your business can help everything run smoothly and avoid expensive problems down the line. Here, I’ll discuss how to structure your rental business, manage finances, comply with legal requirements, and handle property management effectively. I’ll also go over why reliable banking is important and how it can impact your business.https://www.biggerpockets.com/blog/key-steps-for-running-a-successful-rental-businessBecome a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

The streets of San Francisco may be known for Dirty Harry, movie car chases, and the birth of the hippie movement, but they will no longer be associated with rental price-setting software. That’s because the Golden Gate City is in line to be the first in the U.S. to ban the tech tools allegedly associated with landlord price fixing.The San Francisco Board of Supervisors unanimously approved an ordinance introduced by its supervisor and mayoral hopeful Aaron Peskin that bans landlords from using specific software and algorithms to set rents. The measure will still need to be approved by the mayor next month before it can be enforced.Keep reading the article here: https://www.biggerpockets.com/blog/san-francisco-leaders-approve-measure-to-ban-price-fixing-softwareBecome a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

You’ve found what appears to be a great property, and you just received the inspection report. It listed many defects, most of which are typical, and the cost to correct them is well-defined. However, a few items are disconcerting because the report listed symptoms rather than specific defects, such as mold, Kitec plumbing, China drywall, aluminum wiring, roof leaks, settlement, etc.These ill-defined problems are red flags because remediating them is not “fixed.” For example, suppose mold was detected. What would it cost to correct the mold?  Learn more about your ad choices. Visit megaphone.fm/adchoices

Trying to predict the next hot real estate market is like catching an eel with grease on your hands: The moment you think you’ve got a handle on the next hot spot, everyone else has the same idea. Inventory shrinks while prices shoot up, and what once looked good suddenly cools.However, if you’re prepared to be specific in your search, you can pinpoint the next great investment opportunity for different market segments.Keep reading the article here: https://www.biggerpockets.com/blog/the-next-wave-of-markets-set-to-boom-in-the-coming-yearsBecome a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

For first-time and aspiring house hackers, avoiding mistakes early in your investing career is crucial in speeding up your momentum when building your foundation. Right now, competition is high, and investors are finding themselves in markets where great deals are becoming rare. It could not be a more important time to sharpen your skills, round out your education on your strategy, and learn from those who have made mistakes so you avoid starting your investment journey on the wrong foot.Keep reading the article here: https://www.biggerpockets.com/blog/tips-from-my-house-hacking-experienceBecome a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

With the housing crisis being one of the major issues Americans face today, politicians have recently offered various ideas on how to combat it, from President Biden’s rent hike cap to the latest bill from Massachusetts Senator Elizabeth Warren, who has proposed investing $500 billion in an attempt to make housing more affordable over the next decade.Keep reading the article here: https://www.biggerpockets.com/blog/senator-warrens-new-bill-targets-private-equity-and-looks-to-incentivize-affordable-housing-developmentBecome a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

If you’re looking to diversify your investment portfolio in 2024, investing in ATMs should definitely be on your radar. We all know that economic conditions for real estate investors have gotten tougher in the last few years. Tighter margins, smaller ROIs, and fewer investment opportunities are a reality. Not so in the ATM industry. ATMs are a remarkably resilient, though still often overlooked, source of long-term, steady cash flow, with minimal active involvement, minimal risk, and a ton of opportunities for diversification within the industry. Keep reading the article here: https://www.biggerpockets.com/blog/why-investors-are-turning-to-atm-investments-for-diversificationBecome a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Liz Zack, an expert in Airbnb's algorithm, shares her insights on optimizing listings for better visibility. She emphasizes the importance of promptly responding to tenant inquiries to maintain ranking. Liz discusses whether frequently updating your Airbnb headline truly impacts performance, revealing that best practices often come from indirect intel. She also highlights essential strategies like improving photo quality and keeping content fresh to maximize revenue potential.

The New York real estate industry is fuming. New legislation might force landlords to pay the hefty broker’s fees that tenants have traditionally paid to real estate companies. Should the law pass, many landlords might skip brokerages to preserve their cash flow. They won’t get much sympathy from tenants, though. With soaring New York rental prices and the city caught in an affordability crisis, renters are struggling to pay the sky-high fees brokers charge—usually 10% to 15% of the annual rent, not including a security deposit and first month’s rent. Keep reading the article here: https://www.biggerpockets.com/blog/new-nyc-law-would-end-broker-feesBecome a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices