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The city of Victorville recently passed a revised Business License Fee ordinance that now includes an external rental property inspection requirement to help clean up the appearance of the city’s rental properties. For more than a year, CAA Greater Inland Empire worked closely with Victorville’s staff to help ensure the inspection component would be effective in achieving the city’s goals, and at the same time, reward rental property owners and operators who take good care of their property. On average, members will save several hundreds of dollars per year. The revised ordinance includes provisions rewarding rental properties that avoid major… Read More

Tagged: Greater Inland Empire

Top Orange County apartment executives will receive a data-driven forecast on the rental housing market Thursday, Nov. 7, during an event co-hosted by the California Apartment Association and Competitive Analytics. Attendees will include senior executives from companies such as Camden, Western National Group, E&S Ring, Sares-Regis, Far West, Avalon Bay, and others. The invitation-only event, being held at Competitive Analytics’ DECIPHER™ Theater in Costa Mesa, will feature an interactive session with: What-if? forecasts Competitive submarket rankings Provocative discussions of major apartment markets “Industry leaders will gain deep data-based knowledge on pricing, budgeting and investment strategies,” said David Savlowitz, chief executive… Read More

Tagged: Orange County

As investors buy homes, renovate the properties and place them on the rental market, several types of businesses are profiting. This Fox Business article looks at who is winning and why.

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The city of Victorville recently passed a revised Business License Fee ordinance that now includes an external rental property inspection requirement to help clean up the appearance of the city’s rental properties. For more than a year, CAA Greater Inland Empire worked closely with Victorville’s staff to help ensure the inspection component would be effective […]

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Billions of dollars are trading hands as some of America’s richest investors snatch up single-family homes and place them on the rental market, Bloomberg reports. The idea: Buy distressed homes now and make money renting them out as they appreciate and go back on the market in a few years. Returns on investments in hard-hit regions, such as in Florida, could fetch returns of 6 to 8 percent, Sandeep Bordia of Barclays Plc. told Bloomberg, while places with already-high home prices — like in California — might see yields closer to 4 and 5 percent.

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In an interview with The Motley Fool, Zillow CEO Spencer Rascoff says rentals will play a big role for his company in years to come. “That’s because of the structure of the rental industry in the United States. Rental properties turn over about six times more often as for-sale properties, and there are tens of millions of rental units out there,” Rascoff says in the clip. “There’s also no clear market leader, and so we think Zillow has an opportunity there.”

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Rocketing real estate prices have motivated investors to move into new markets, snatch up homes and turn them into rentals, USA Today has reported. According to USA Today, investors are focusing less on some sizzling markets while scurrying to purchase homes in places where prices are skyrocketing. While investor enthusiasm is waning in Phoenix and possibly approaching its apex in parts of California, interest is surging in parts of the South, the article says.

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