In episode 17 of the Profitable Powerhouse Properties Podcast, your hosts Jonathan Cook and Bryan Jenkins interview Nishant Phadnis from RentPath. Nishant discusses housing supply and demand, market statistics and trends, and more.
Episode Highlights:
- RentPath is the company responsible for the Apartment Guide books that were printed before the Internet, and is now a fully digital company that also owns Rent.com and Rentals.com.
- About ⅓ of the entire United States rents their home.
- Rental supply has grown primarily because demand for home buyers has declined.
- The average of millennials buying a home is 34-35, when it used to be 24.
- Because there’s little demand for homes to buy, those properties aren’t being built.
- Millennials prefer renting because of the flexibility and affordability it offers.
- Landlords who don’t allow pets are instantly limiting their tenant options.
- Property managers should treat their decisions like they are the renter/homeowner; don’t just paint the one wall with scuffs, paint the whole room.
- Laundry facilities is the number one amenity renters search for, followed by air conditioning.
- If you have more capital and better cash flow, you’ll get a better return on your investments and be able to add more properties to your portfolio.
- The Southeast is seeing a lot of job growth and there’s still a lot of land to buy, so there is a lot of opportunity.
- Many people are searching “homes for rent near me” rather than homes for rent in a particular city.
3 Key Points:
- The types of properties being built are shifting from single family homes to multi-family units to match demand.
- Landlords should think and make decisions from the perspective of a tenant.
- As the demand side slows down, people are getting more innovative on the supply side.
Tweetable Quotes:
- “You’re giving yourself a different classification of tenant than you would like. You want your tenants to want to live in that home. That’s their house, not your house that they’re borrowing for the term of the lease, that’s not what that is.” –Jonathan Cook
- “We see that more and more, is what renters are filtering upon when they come to our website is in-unit washer/dryer or accessibility. It was a surprise to me because we would have thought it was privacy or things like granite countertops.” –Nishant Phadnis
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group online or call them at (205) 616-1107
- Buy, sell, and own investment properties the way the pros do it with www.roofstock.com
- Email Jonathan and Bryan at Podcast@AHIProperties.com
- RentPath website
- Petscreening.com
- Nishant Phadnis Linkedin