Elm Property Management Group

Why the Future in Senior Housing Is All About Health, Affordability What's the future of senior housing? Two experts examine the increasing demand for facilities that emphasize health and wellness.

Interesting

$180,000 fine for illegal short-term rental in Las Vegas Homeowners across Las Vegas who list an illegal short-term rental may face steep fines, and one homeowner learned of $180,000 in penalties.

⭐Join us for Security Deposit Alternative; What is it? Who uses them? How to get started! 🏚️

REGISTER HERE
https://ow.ly/QmAf50Qtf9R

Join us for the first NV NARPM Membership Meeting of 2024! If you missed the 2023 Conference, or didn't get to interact with Lighthouse, this webinar is for you. Learn about how utilizing a security deposit alternative can propel your business.

✔️What is a Deposit Alternative?
✔️How does my client benefit?
✔️How does this work?
✔️Do I still collect a deposit?
✔️What happens if a tenant owes a balance?

Industry leaders will share their professional experience with Security Deposit Alternatives as a resource for their business.

Taylor Malkus, the Vice President of Sales for Lighthouse Insurance Services, began working in PropTech while at RealPage, where he worked with everyone from "accidental" property managers to large institutional investors. During that time, he got a first-hand education in the pitfalls of asset management and the general lack of affordability in the housing sector. In 2022, Taylor decided to do something about it and joined Lighthouse - a provider of Security Deposit Insurance, reducing risk & administrative burdens for leasing teams, and move-in costs for tenants.

Monday, Jan 29, 2024
10:00am 11:00am PT

Members - Free
Non-Members $10

https://www.ocregister.com/2023/12/04/california-investors-are-shedding-rental-houses-its-a-national-trend-too/

California investors shed rental houses. It’s a national trend, too Renters in 1-family residences fell by 4% in five years.

https://www.housingwire.com/articles/missouri-jury-finds-nar-brokerages-guilty-of-conspiring-to-inflate-commissions/

Missouri jury finds NAR, brokerages guilty of conspiring to inflate commissions After two weeks of testimony the Kansas City jury found NAR, HomeServices and Keller Williams guilty of collusion.

https://finance.yahoo.com/news/rental-market-softening-fast-pockets-093000392.html?guccounter=1&guce_referrer=aHR0cHM6Ly9zbTEubXVsdGlicmllZnMuY29tLw&guce_referrer_sig=AQAAAKRMN4qDrMCyNN4IEDORJmjfomoxTsUTLK8bIJ5zuPqhRqmqwKvhZLXI2zwv5dfLY6J0c-VStmRETkPyIuJh493zLGf2tvse_F_T2YB6sBRzuF4dxy6_rMXrzle5k2H-Xt6Jp4ovW5qkVgj2vbGeP4rbzuJjopj2GKzdQQBQef-r

The rental market is softening so fast in some pockets of the country that landlords have no choice but to offer concessions "With vacancies on the rise, some landlords are doling out one-time discounts to attract renters while maintaining high asking rents on paper"

https://realtybiznews.com/the-integration-of-technology-in-real-estate/98779212/

The integration of technology in real estate The integration of technology in the real estate sector, often referred to as "PropTech" (Property Technology), represents a profound shift in how real estate is bought, sold, and managed. The infusion of technology has streamlined processes, improved efficiencies, and enhanced user experiences acro...

Sept. 23 is National Property Manager's Day, and MRI Software wants everyone to celebrate these hard workers. 🎉 Visit their website for a toolkit with graphics you can use, a Spotify playlist to jam out to, and much more.

How will you celebrate your property managers this year?

Learn more here: https://info.mrisoftware.com/National-Property-Managers-Day

https://nationalmortgageprofessional.com/news/investors-may-be-losing-interest-single-family-rental-market

Investors May Be Losing Interest In The Single-Family Rental Market From February 2020 to May 2022, investor purchases of single-family homes grew nationwide, increasing from an average share of 12.4% of homes purchased across the largest 50 metropolitan markets to 20.4%. Over the past year, however, as interest rates rose and house prices declined, investors pulled...

White House Announces Additional Actions on Landlord-Tenant
Late last month, the White House announced a series of actions related to landlord-tenant screening practices and lease operations. In the announcement, the White House’s stated goals are:

• Ensure all renters have an opportunity to address incorrect tenant screening reports.
• Provide new funding to support tenant organizing efforts.
• Ensuring renters are given fair notice in advance of eviction.
Specific actions included in the announcement are as follows:
• Guidance from the Department of Housing and Urban Development (HUD), the Department of Agriculture (USDA), the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and the Federal Housing Financing Agency (FHFA) that communicates the Administration’s expectations on informing renters of what information in their screening report is responsible for their application being denied. For private sector landlords, the guidance is a suggestion only, not a requirement or mandate.The guidance from HUD is prescriptive with respect to Public Housing Authorities (PHAs).
• Funding from HUD for tenant outreach and education in Project-Based Rental Assistance (PBRA) properties.
• The promulgation of proposed regulations from HUD for a 30-day notice-to-vacate for tenants in public housing and properties with Project-Based Rental Assistance (PBRA).
• Guidance from HUD for PHA’s and multifamily housing owners participating in the Rental Assistance Demonstration (RAD) with respect to tenant engagement.
• A restatement of the Administration’s commitment to “prioritized engagement with tenants, tenant organizers and advocacy organizations.”

In addition to the announcement regarding rental housing, the White House also announced actions with respect to housing supply. Those actions include financial incentives for localities to remove zoning barriers to the creation of new homes, financing for affordable energy-efficient housing, and incentives to develop old commercial sites into residential housing.

For more information, please reach out to NARPM Advocacy at [email protected].

NARPM Pushes Back on Federal Rent Control
On May 31, 2023, the Federal Housing Finance Agency (FHFA) published a request for input (RFI) on tenant protections for rental properties backed by the federal government, i.e., the Government Sponsored Enterprises (GSEs), or Fannie Mae and Freddie Mac). The RFI announced by the FHFA extends beyond "egregious rent increases" and seeks comments on how the agency can impose regulations on government-backed rental properties. This move includes policies relating to source of funds, communication times, rent increases, causes for eviction, and more.

In response, NARPM members provided over 300 comments.

In addition, NARPM joined a number of other real estate organizations in offering initial comments as well as a follow-up letter specifically geared toward the issue of rent control.

NARPM Advocacy: Share your
'My Section 8 Story'
NARPM's Governmental Affairs is working hard for you! Check out the new My Section 8 Story page to learn more and tell your story so that NARPM can share the experiences with legislators.


NARPM asks that you provide your Section 8 Story – the good, the bad and the ugly – so that we can share those experiences with policymakers. All information shared with policymakers will be kept anonymous to protect your identity.



Section 8 continues to be a topic of robust discussion at the local, state and federal levels. From proposals to reform and expand the program, to proposals to compel participation in it, there is a clear need to ensure that policymakers at all levels have access to accurate information about the experiences of property owners and managers.



Stakeholder groups representing both housing providers and tenants are working together right now to encourage Congress to pass meaningful Section 8 reforms that encourage more participation in the program and make it easier for both providers and tenants to navigate.



Please share your story today at mysection8story.com today.

another bill that has come down

NEVADA NARPM! VOICE YOUR OPINION ON AB 298- TODAY!!!! Contact your legislatures today to voice your opposition to this and any bills that will put more of a burden on landlords!     NEVADA STATE CHAPTER OF NARPM® CALL TO ACTION! TESTIFY AGAINST TESTIFY A

Please Oppose this bill.

NEVADA NARPM! VOICE YOUR OPINION ON AB 298- TODAY!!!! Contact your legislatures today to voice your opposition to this and any bills that will put more of a burden on landlords!     NEVADA STATE CHAPTER OF NARPM® CALL TO ACTION! OPPOSE NEVADA AB 298AB Ne

https://www.wsj.com/articles/apartment-rents-fall-as-crush-of-new-supply-hits-market-2403c6ea?st=jb3lv68at5c1h3t&reflink=desktopwebshare_permalink

Apartment Rents Fall as Crush of New Supply Hits Market Declines in every major U.S. metro area signal tenants may be maxed out on how much income they can devote to rent.

Renting Is Back on Top for Consumers Columnist Lew Sichelman examines the effects of higher interest rates on the rent vs. buy debate.

https://www.whitehouse.gov/briefing-room/statements-releases/2023/01/25/fact-sheet-biden-harris-administration-announces-new-actions-to-protect-renters-and-promote-rental-affordability/

FACT SHEET: Biden-Harris Administration Announces New Actions to Protect Renters and Promote Rental Affordability | The White House Administration also launches Resident-Centered Housing Challenge, a call-to-action to improve the quality of life for renters Today, the Biden-Harris

CHAP as we know it is ending.
Fixed Income CHAP will take its place.
During the past two years, the CARES Housing Assistance Program (CHAP) provided rental assistance funds across Clark County for those tenants who faced COVID-related financial hardship. Now, the program’s website indicates that CHAP applications submitted under the current eligibility requirements will no longer be accepted effective 11:50 PM on January 22, 2023. A new, pared down version of the CHAP program, Fixed Income CHAP, has been established in its place.

What is Fixed Income (FI) CHAP?
FI CHAP provides rental assistance funds to residents of Clark County who have experienced a rent increase in the past 12 months, are facing eviction for non-payment of rent, and are on a fixed income such as:
Disability Insurance
Pension
Veterans Benefits
Social Security

What are the eligibility requirements?
Starting January 23, 2023, only applications for tenants that meet these new eligibility requirements will be accepted:
At least one occupant is living on a fixed income e.g., Social Security, VA benefits, or pension
Have experienced a rent increase within the 12-month period prior to the date of application
Received an eviction notice for non-payment of rent
Have filed an answer to the eviction notice in Justice Court
What is covered by the FI CHAP program?
Fixed Income CHAP funds are specific to the payment of delinquent rent and/or utilities.
Funds are provided directly to the landlord and/or utility company
Assistance is provided as a one-time benefit based on the availability of funds
There is no cap on the amount that a household can receive
Holding off on rental rate increases
Because FI CHAP is only available to those who have experienced a rent increase in the past 12 months, some landlords have questioned whether they should hold off on rental increases. While it is up to each landlord/company to make the decision on whether to raise rents, there is a chance of potentially avoiding the application of FI CHAP altogether.

AB 486 is scheduled to expire this summer
Unless reauthorized by the Nevada Legislature, AB 486 is scheduled to sunset on June 5, 2023. After this date, the affirmative defenses in the law will no longer be available to tenants who have applied for rental assistance.

As you may recall, AB 486 required (1) most eviction proceedings to be stayed until there was a decision on a tenant’s pending application for rental assistance, (2) mandatory mediation, (3) landlord cooperation with the rental assistance provider, and (4) landlord acceptance of rental assistance funds.

Since the enactment of AB 486, most rental assistance providers have been unable to make a timely determination on submitted applications, resulting in significant delays to the eviction timeline. In Clark County for example, most eviction cases have been delayed multiple months by the Courts while the parties wait for decisions on pending rental assistance applications.

Nevada’s Legislative Session begins in February
The Nevada Legislature convenes on February 6, 2023 for 120 days. During the session, there may be many bills introduced that could impact the industry if eventually signed into law.

We will continue to research the new FI CHAP program and to monitor any proposed new laws during this upcoming legislative session.

Contact us
(702) 949-7323
[email protected]

https://news.yahoo.com/landlords-tenants-bridge-gap-154000350.html?guccounter=1&guce_referrer=aHR0cDovL3NtMS5tdWx0aXZpZXcuY29tLw&guce_referrer_sig=AQAAALJCWEkd-ot8HWbJiHEsy1F1oKDT8FmsgLCzmEauV2BBmND-1Fw0L925Q6XHh7990iiP6MrpmIfMVBnaS6IELsRNohgER-Qj6Y2mLSTr-hQ_8IfIpiGUlTSehcQITPNui3QATAmK57t36J7qMlE-xK5QHhCI5tIFNAyf20xQaUAV

Landlords, tenants work to bridge gap Nov. 16—LIMA — Bridging a gap is a helpful tool in any relationship. One city council member is making efforts to do just that within his ward. On Tuesday evening, Sixth Ward Council member Derry Glenn met with local community members to address issues between landlords and tenants. The event wa...

https://www.forbes.com/sites/rogervaldez/2023/01/02/whats-ahead-for-housing-in-2023-single-family-slowdown-and-stop/?sh=2c6a2ef43dc3

What’s Ahead For Housing In 2023: Single-Family Slowdown And Stop Cities should expedite permitting in dramatic fashion, and use whatever resources they have to invest in completing distressed projects. Local governments could also buy up land at a bargain and then pivot later, turning the land over to Community Land Trust when the market returns.

https://www.ktnv.com/news/federal-rental-assistance-program-will-be-ending-in-january-2023-clark-county-officials-say

Federal Rental Assistance Program will be ending in January 2023, Clark County officials say Clark County announced on Thursday that the Cares Housing Assistance Program will be ending in 2023 and will no longer be accepting applications after Jan. 23.

91 Ella Ashman Avenue, Henderson, NV 89015Call 725-527-7677Call 725-527-7677 orvisit our website4 Bed - 3 Bath Size: 1485 Year built: 2022$2,200.00Rental DescriptionNew Construction: be the first to live in it! Brand new neighborhood in the master planned community of Cadence. Enjoy miles of walking/bike trails, community pool, neighborhood parks, and close proximity to grocery stores, restaurants, and schools. Close to Lake Mead National Recreation Area, Lake Las Vegas, and more!Property DescriptionPlease visit our website at https://elmmanagementgroup.managebuilding.com to set appointment to view under schedule showing tab. Review our Credit guidelines under the application standard tab. Tenants to pay additional $50.95 a month to cover resident benefits package. Tenants to pay $25 a month for pet rent and all pets must be approved through petscreening.com. Tenant to pay additional $90 monthly landscaping and additional $40 for home located in Las Vegas to cover trash and sewer and $20 for homes located in Henderson to cover trash

Any appliance on the property are a courtesy item for tenant to use.
Sorry home will no qualify under the housing voucher program *Section 8 Program*Lease Terms$2,800.00 security depositAll lease terms run to May 31st regardless of start date.PhotosMoreView mapPowered by Buildium property management software

elmmanagementgroup.managebuilding.com

85 Ella Ashman Avenue, Henderson, NV 89015Call 725-527-7677Call 725-527-7677 orvisit our website4 Bed - 3 Bath Size: 1332 Year built: 2022$2,000.00Rental DescriptionNew Construction: be the first to live in it! Brand new neighborhood in the master planned community of Cadence. This home has 4 bedroom with one bedroom downstairs. Open floor plan downstairs and kitchen has pantry. Enjoy miles of walking/bike trails, community pool, neighborhood parks, and close proximity to grocery stores, restaurants, and schools. Close to Lake Mead National Recreation Area, Lake Las Vegas, and more!Property DescriptionPlease visit our website at https://elmmanagementgroup.managebuilding.com to set appointment to view under schedule showing tab. Review our Credit guidelines under the application standard tab. Tenants to pay additional $50.95 a month to cover resident benefits package. Tenants to pay $25 a month for pet rent and all pets must be approved through petscreening.com. Tenant to pay additional $90 monthly landscaping and additional $40 for home located in Las Vegas to cover trash and sewer and $20 for homes located in Henderson to cover trash

Any appliance on the property are a courtesy item for tenant to use.
Sorry home will no qualify under the housing voucher program *Section 8 Program*Lease Terms$2,500.00 security depositAll lease terms run to May 31st regardless of start date.PhotosMoreView mapPowered by Buildium

elmmanagementgroup.managebuilding.com