3 Amenities Renters Love

Amenities make renting a home comfortable and enjoyable.

Any property can offer the basics, but it’s the extra details that make all the difference. Most tenants plan on touring several properties before making a decision. Therefore, rental units with unique features will be the properties that make the strongest impression. Once as potential renters find a property that meets their needs, they’ll look for above-and-beyond features to make a final decision. Providing one-of-a-kind amenities is a key way to attract serious tenants with an eye for quality.

1.     In-Unit Laundry Appliances

Renters love any amenities that make their lives a little easier. After a long week, spending an afternoon at the laundromat is the last thing anybody wants to do. It’s time-consuming, and people want to spend their days off doing what they love. In-unit washers and dryers let tenants finish their chores while going about their day. Including these in your property will definitely earn you some brownie points. With that being said, on-site laundry facilities are still preferable when compared to laundromats. If you can’t provide in-unit laundry appliances, this is the next best option.

2.     Outdoor Features

Tenants don’t want to be forced to travel far to enjoy the outdoors. More than anything, they love amenities that give them the freedom to roam. During the summer months, people don’t want to be cooped up in their apartments blasting the AC, they want to be by the pool where they can cool off and spend time with loved ones. They want to be able to get some fresh air and enjoy outdoor activities. It’s a fact: amenities like pools, hot tubs, ponds, and tennis courts are always a hit. If you allow pets in your facility, renters will also love parks and outdoor, dog-friendly spaces.

3.     Upgraded Kitchens

Standard kitchens always tend to look similar. They often include small, outdated refrigerators, ‘80s-style countertops, and humming appliances. In order to stand out from the crowd, you’ll want to focus on this area. Renters know a property is well-maintained if the kitchen has been upgraded. To wow potential tenants, consider installing stainless steel appliances, high-quality cabinets and granite or marble countertops. If financial restraints bar you from making these changes, think about smaller upgrades that are at least up-to-date. The best thing you can do is provide functioning equipment and a pleasing atmosphere for your renters. We spend a lot of time in our kitchens. Whether we’re cooking up meals with our family members or having late-night conversations over coffee, kitchens are comforting places. They should feel welcoming and pleasant.

Read more here.

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The housing market is still savagely unhealthy

But there is a glimmer of hope as we look at the rest of the year.

The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 million. However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. However, hope for a balanced market is real this year because, with higher rates, we should see more days on the market coming up and growth in the inventory data.

The 5.77 million sales print on Wednesday is in line with my 2022 forecast sales range between 5.74 million and 6.16 million. Last year I discussed sales levels coming back down to 5.84 million, and I am looking for more of the same in 2022, at the 5.74 million level. Like last year, I was anticipating a few prints under 5.84 million. We only got one, and the same with this year under 5.74 million

However, unlike the previous year, we have a material change in the U.S. housing market; the 10-year is above 1.94%, something that didn’t happen in 2020 or 2021. This means higher mortgage rates, so we need to talk about the housing market in a rising-rate environment without going into housing crash mode like the professional grifters do for clicks.

From NAR: Total existing-home sales dipped 2.7% from February to a seasonally adjusted annual rate of 5.77 million in March.

Housing demand has been stable for the past few years; we have never had a credit boom in demand since 2002-2005. So, we never had a credit bust as we saw from 2005 to 2008. However, post-2010, we have had times when housing demand has gotten softer with higher mortgage rates.

In 2013-2014, rates rose, and you see the lower trend in sales back then. Demographics and employment levels were much different at that time, so it isn’t the best comp to use compared to 2020-2024, which has the most significant housing demographic (ages 28-34) running at 32.5 million.

In 2018 when mortgage rates rose, we saw existing home sales trend lower from 5.72 million to 4.98 million in January 2019. Even though total existing-home sales didn’t do much in 2018 and 2019, we see how higher rates impacted the demand curve. The housing data we got yesterday with housing starts are backward-looking. The same should be thought about today and going out in the future.

How does application data look? Due to COVID-19, I needed to make severe adjustments because the year-over-year data has been out of whack. This data line has been negative since June of 2021. With proper adjustments, you can tell what is going on.

2022 is looking to be the first actual negative year-over-year purchase application year since 2014. However, the decline is mild so far.
—Week to week: -3%
—Year over year: -14%
—4 week moving average YoY: -9.75%

The week-to-week action has produced two mild positive and two mild negative prints for four weeks. I believe the COVID-19 comps ran out by mid-February this year. So the year-over-year data is good to go. We are between what we saw in 2018 — with a mild response to higher rates — and 2014, where the reaction was much more severe. When it moves, this data line moves up and down 20%-30%. So the four-week moving average, while a noticeable weakness, isn’t anything too big yet. 

Keep reading on Housing Wire.

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Just Listed: Fully Updated Single Level Home in Timber Ridge

 
 
 

Fully updated, single level, private oasis in the established Timber Ridge neighborhood.

Resting on .47 acres this home snuggles up to acres of green space kept by the HOA. No upkeep with all the enjoyment. Close proximity to the new Caldera High School and Bend Golf Club. 4 bedrooms and 3 bathrooms included in the main living space and attached mother-in-law suite. Walls have been taken down and ceiling elevated to create a large open floor plan with new hardwood floors, skylights, warm stone fireplace and a view to a large deck with hot tub. Remodeled kitchen with cherry cabinets, Miele appliances, convection oven, large tile countertops, entertaining island and light filled atrium picture window. Mother in law features private entrance, kitchenette and on suite bathroom. New roof, plumbing, electrical, AC and double paned windows. Home sits on a perimeter foundation and has fresh interior and exterior paint. This one of a kind home and lot represents a generational opportunity in the heart of SE Bend!

Listed by David Keyte for West + Main Homes. Please contact David for current pricing + availability.

 
 
 

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West + Main Homes
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David Keyte
(541) 797-8356
dave@bendrelo.com


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Just Listed: Hidden Gem in Bend with Zen Backyard

 
 
 

Enjoy this hidden gem in the middle of Bend!

Tucked down a private driveway is a brilliantly updated single level home with a stylish mix of hardscaping and garden beds giving this home a Zen like ambiance. Entering the home, youll be greeted by vaulted ceilings and light filling the space from front windows to the back yard. Wood floors extend throughout the living spaces and bedrooms. A spacious kitchen with wide open counters overlooks the garden beds and leads out to the back patio space perfect for entertaining and relaxing. The large primary bedroom also has a sliding door leading to the solar shade covered patio space. Get started on your urban homestead with south facing yard and gardens. Roof, seamless gutters, AC/furnace and H2O heater are all less than 4 years old! This home is not a drive-by, as the property sits on a flag lot and is not quite visible from Purcell. Call your favorite Realtor to schedule a private showing quick!

Listed by That Furrow Crew for West + Main Homes. Please contact John for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
westandmain.co
hello@westandmainoregon.com

Presented by:
That Furrow Crew
(541) 647-0910
john@westandmainoregon.com


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Just Listed: Cozy Stick-Built Ranch Style Home in Bend

 
 
 

This cozy stick-built ranch style home on a spacious .49 acre just minutes from the Old Mill District has the potential to be the perfect home for you in Bend.

This property features a multi-level front yard, mature trees, and plenty of greenery for added privacy. An open floor plan and built in storage makes the most out of every square foot of this home, giving you all the room you need to make it feel like your own. Large windows allow for tons of natural light, with a large fenced yard to accommodate any guests, activities, or projects in your plans. Additionally, a well-maintained shed out back and a large attached 2-car garage provide extra storage. Minutes away from everything Bend and Central Oregon have to offer you! Sold strictly AS-IS, inspections solely for buyer’s knowledge.

Listed by Madison Grant for West + Main Homes. Please contact Madison for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
westandmain.co
hello@westandmainoregon.com

Presented by:
Madison Grant
(541) 588-2638
madison
@westandmainoregon.com


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