Rents are Dropping and Evictions are Increasing

In this episode, we explore the current state of the real estate market with a focus on the challenges landlords face as rents decline and evictions rise. We discuss the impact of high interest rates and the need for landlords to adapt to changing tenant expectations. Joining us is Dana Dunford, CEO of Hemlane, who shares insights on maintaining tenant satisfaction and the importance of efficient property management. Learn about the strategies landlords can use to navigate this difficult period and ensure long-term success. [00:00:00] Overview of the slowing real estate market and declining rents. [00:01:06] Importance of maintaining tenant satisfaction to reduce turnover. [00:02:15] Insights on rent increases and the current trend of modest rent hikes. [00:03:23] The risk of pushing rents too high and forcing tenants to move. [00:04:47] Strategies for retaining tenants and justifying rent increases. [00:05:53] The impact of instant gratification culture on tenant expectations. [00:07:04] Importance of communication and setting clear expectations with tenants. [00:08:00] The next 18 months will be challenging; landlords need to focus on operations and communication. [00:08:53] Study on consumer spending habits and the importance of automated rent collection. [00:10:32] Hemlane's offerings for landlords, including a free trial and discounted services for One Rental at a Time community members. Hemlane One Rental at a Time One Rental at a Time School Thank you for joining us in this insightful discussion on the current challenges facing landlords. If you found this episode valuable, please rate, follow, share, and leave a review. Your feedback helps us continue to provide relevant and helpful content. For more detailed discussions and to connect with industry experts, join the One Rental at a Time school community. Stay informed, stay prepared, and see you next time! Key Talking Points:Links & Resources:Closing Remarks: 📖 BUY One Rental at a Time https://amzn.to/3jt3JFx 📣 Audible Version Here https://amzn.to/3jtLDTQ OR 🏆 Buy 15 Conversations with Real Estate Millionaires https://amzn.to/3JwEsVm Dion from Dion Talk is Narrator!!! NOW ON AUDIBLE https://www.audible.com/pd/B0BDPSZW3Y/?source_code=AUDFPWS0223189MWT-BK-ACX0-322007&ref=acx_bty_BK_ACX0_322007_rh_us 📸 INSTAGRAM: Please follow. Daily original content! https://www.instagram.com/onerentalatatime/ 📬 (MUST JOIN!) PRIVATE Facebook Group: One Rental at a Time Works This is a VERY private group that is only available to my students of "How to Get Started One Rental at a Time" In the group, you will be around hundreds of other students all doing the work. Please introduce yourself when you join! JOIN HERE: https://bit.ly/3tEQhRm TEACHABLE COURSES: Join the THOUSANDS of students changing their financial future with DAILY execution! 💎 How to Get Started One Rental at a Time: This course is changing lives! Investors focus and do the daily work required to learn their market and only do GOOD Deals. JOIN HERE: https://bit.ly/3uDrkHq 💸 Get Money Right: This course is about making you the CFO of your money. It shows you how choices can keep you poor or set you free. It highlights your Financial Health Score and provides a monthly budget to help you track spending. JOIN HERE: https://bit.ly/3wbN9yr 📲 MENTORING OPTION: I built my courses to run without me but some folks find themselves in interesting situations and they want to ask questions directly. So after much thought I have created this option that includes one “30 Minute Mentoring” session that can be used at students request. JOIN HERE: https://bit.ly/3hivsc5 ✍️ FREE COURSE: I put together a Free Course so people can get to know me a little more and have fun getting started with no cost. JOIN HERE: https://bit.ly/3hdMbgK 📣AUDIOBOOK: https://amzn.to/3jtLDTQ PLEASE LEAVE 5 Stars! *** Tag me on IG with a book selfie! 🧢 MERCH: I have created some fun merchandise designed by my daughter. Check out Merch Page here: https://one-rental-at-a-time.myshopify.com/