This week in property management: The potential for rental income reaches into the 10s of thousands for homeowners; the real estate market responds to the shift to a knowledge-based economy; Eugene property manager, Terry Shockley, faces wire fraud charges in federal court; Zillow releases video walkthrough tools; and Inman surveys real estate professionals: what does “luxury” mean, anyway?
New data shows homeowners could earn $10,000 more a year if they rent a spare room
According to new research from Australian rental experts, Domain, homeowners could be missing out on $10,000 every year if they’re not renting out their extra rooms. And, across the country, there are more than 7 million available rooms for renters willing to split the cost of the mortgage and utilities.
Renting vs. owning: why leases are winning
“Homeownership is no longer the key driver of America’s industrial economy,” according to Richard Florida, who claims this is all part of “The Great Reset.” What’s that? A natural progression as we move into a knowledge-based economy, and millennials settle in urban hubs around the country.
Case against property manager who stole more than $3.5 million goes to court
Terry Shockley managed properties for more than 350 owners in Eugene, Oregon. He also stole money directly from the pockets of those owners, keeping security deposits and rent from the majority of them. This week, federal criminal charges have been filed against him.
Zillow announces a “video walkthrough” tool for listings
Shoppers and renters can now immerse themselves right into properties listed on Zillow, with a video walkthrough tour. Each video is limited to 2 minutes, and there’s no sound, but has been designed for the nearly 70% of Zillow’s visitors on mobile devices.
Professionals weigh in: what does “luxury” mean?
Price point? Location? Amenities? What exactly sets a luxury property apart from the rest? Inman conducted a survey of more than 200 real estate professionals, who ranked the most important factors and thought processes of luxury shoppers.