Rental climate puts homeowners, HOAs on collision course - Silicon Valley Business Journal

  • 📰 svbizjournal
  • ⏱ Reading Time:
  • 81 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 59%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Housing costs continue to inflict inflationary pressures on the economy. But there is an undercurrent brewing in the housing market that homeowners may be about to jump on.

. From Austin, Texas, to Raleigh and Phoenix to Nashville, finding a one-bedroom apartment that is not a micro-unit for under $1,500 monthly rent is improbable. For most parts of the nation, those same units fetched $1,000 or $1,100 monthly rent just three years ago.

Now, homeowners who wanted to sell their property only to see their asking price receive a lukewarm response are resorting to the next option – rent. Today’s rental rates, for the most part, could provide a homeowner with mortgage coverage, upkeep costs and even some leftover cash. With ownership costs covered and a slowing housing market, homeowners across the country better get ready to welcome new neighbors.

If this trend continues or accelerates, there’s one group that may soon voice its concerns — homeowners associations, also known as HOAs., manage its finances, run business affairs, enforce and set rules, and see to the maintenance and upkeep of the area..

California and Florida have a mechanism to regulate HOAs for what lawmakers call a protection for the broader community of homeowners. In the past, lawsuits have flown against the HOAs whether it be for an owner’s right to make his/her house an Airbnb rental or a yearly rental.Tina Pace, a Raleigh attorney specializing in HOAs, said she has reworked 20 different HOA covenants in the past few months — just in the Raleigh, Durham area.

This phenomenon could eventually see rental rates come down in various markets as rental inventory increases, thanks to single-family homes for rent. CoreLogic estimates rents from single-family homes rose 13.4 percent year-over-year in July after rising about 14 percent year-over-year a quarter ago.and still continue to own the house and get the tax breaks.Sougata Mukherjee is editor-in-chief of Triangle Business Journal. Reach him at sougata@bizjournals.com.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 334. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Rental climate puts homeowners, HOAs on collision course - Dallas Business JournalThe latest Consumer Price Index (CPI) reveal translates at least one important element — housing costs continue to inflict inflationary pressures on the economy. But there is an undercurrent brewing in the housing market.
Källa: DallasBizNews - 🏆 525. / 51 Läs mer »

Rental climate puts homeowners, HOAs on collision course - Jacksonville Business JournalThe latest Consumer Price Index (CPI) reveal translates at least one important element — housing costs continue to inflict inflationary pressures on the economy. But there is an undercurrent brewing in the housing market.
Källa: JaxBizJournal - 🏆 599. / 51 Läs mer »

Rental climate puts homeowners, HOAs on collision course - Dallas Business JournalThe latest Consumer Price Index (CPI) reveal translates at least one important element — housing costs continue to inflict inflationary pressures on the economy. But there is an undercurrent brewing in the housing market.
Källa: DallasBizNews - 🏆 525. / 51 Läs mer »

Rental climate puts homeowners, HOAs on collision course - San Francisco Business TimesThe latest Consumer Price Index (CPI) reveal translates at least one important element — housing costs continue to inflict inflationary pressures on the economy. But there is an undercurrent brewing in the housing market.
Källa: SFBusinessTimes - 🏆 78. / 68 Läs mer »

DocuSign names Google exec Allan Thygesen new CEO - Silicon Valley Business JournalThe board for the San Francisco announced Thursday Allan Thygesen, formerly president, Americas & Global Partners for Google, will be its new head.
Källa: svbizjournal - 🏆 334. / 59 Läs mer »

Long Covid costs for employers to reach into the thousands - Silicon Valley Business JournalNew data shows long Covid cases could cost employers thousands of dollars — and not just because of lost productivity.
Källa: svbizjournal - 🏆 334. / 59 Läs mer »