PropertyZar

Since I am in in the property management software business, most all my blogs are related to property managers or landlords. However, this blog will cover a new federal program for real estate investors call Opportunity Zones. While it may benefit property managers or property management companies, it’s definitely geared towards real estate investors. With that in mind, read on!

The Genesis

Sean Parker, the co-founder of Napster (not part of the gold heist with Mark Wahlberg) worked with law makers on a new program call Opportunity Zones. The states governors are responsible for identifying low income census zones in their respective states.

Today, there are approx. 8700 defined Opportunity Zones nationwide. The zones are geographical areas that have been designated as investment opportunities that will benefit the community as well as those investors who participate in the program.

The program was created by the federal government in an effort to drive private investments into the low

Recent Study

A recent study shows that about 25% of property managers are optimistic about the future and 47% are somewhat passive and 28% are negative. For those negative 28%, the biggest issues are overworked, underpaid and stressed by the demands of the clients, which are ever increasing.

People Challenges

Many property managers are keeping their finger on the pulse of the future, but the challenges of people are draining most of their time and resources. As Gomer would say, Surprise! Surprise! Surprise! Because of this, approx. 40% of respondents say their next job will be in a totally different field.

The Best Property Management Companies

The best companies are ones that are run well and that offer structure and processes in place. Great management companies understand that their property managers are more than a task manager. They are more in line of a property advisor.

The Make-Up Of Property Management Companies

This may be no surprise to most of you, but approx. 82% in the industry

Rent Control Advocates

If you do any amount or reading or watch any news, advocates are everywhere and for every cause. Some good,  some not so good. Rent control is no different. There are advocate groups pushing for rent control. A recent defeat in CA had set the rent control push, a few steps back. California Prop 10 would have allowed new tougher rent laws.

Rents have continued to rise faster than incomes in many cities across the US.

State Laws

Most states (approx. 45) prevent local governments from enacting laws that place any type of rent controls. But what is now, doesn’t mean it will remain the same. Just a short time back, most states had laws against illegal immigrants. Today is a different story.

Multi-Family Investors

Investors who own apartments or other multi-family properties would be most impacted if any rent control laws were to be passed. Experts in the mulit-family sector worry that laws could freeze rents on existing properties. That would have profound affects on the