Congratulations Jonathan & Julie F., Winner of the Bev Roberts Rentals Winter Décor Contest!
Congratulations to Jonathan & Julie F., our esteemed victor in the Winter Decor Contest featured on Bev Roberts Rentals Facebook! Your home is an absolute wonderland of lights! The way you’ve adorned every inch with vibrant Christmas lights has transformed the entire block into a dazzling festive masterpiece. Your three weeks of labor and hard work have certainly paid off, creating a festive wonderland that brings so much joy to everyone who sees it. It’s a spectacular sight! The effort and creativity you’ve put into decorating your home is truly amazing. With an impressive total of 48 votes, you truly captured the spirit of the holiday season. Enjoy the $100 Amazon e-Gift Card! A sincere thank you to all participants; the competition was close and showcased an array of lovely winter entries. For those eager for another shot at glory, fret not, as a future competitions are on the horizon. Wishing everyone a joyous holiday season and prosperous New Year ahead!
The contest entries are showcased below, presented in no specific sequence:
Here are 7 predictions for where the rental market is headed in 2024 from the economists at Apartment List as the once red-hot rental market of previous years has now cooled.
Here is a key topline summary for 2024:
2024 will be the strongest year for new apartment construction in decades, giving renters more options and better opportunities to negotiate price and lease terms.
“We expect that year-over-year rent growth will crawl out of negative territory next year, but that it won’t rise above the low single-digits.”
Even though mortgage rates are expected to ease modestly, home prices will remain prohibitively high and continue to create more long-term renters.
No. 1 – 2024 will bring the most new apartments in decades
Construction data from the Census Bureau suggests that multifamily supply growth should remain strong through 2024. The number of new multifamily apartment units under construction hit one million for the first time ever in 2023, and completions are expected to peak in 2024. With so many units in the construction pipeline, 2024 should be the strongest year for new multifamily supply since the 1980s.
No. 2 – Low single-digit rent growth in 2024
2023 is set to have the second slowest rent growth of any year in the history of our estimates (going back to 2017), coming ahead of only 2020. Looking ahead to 2024, “we expect demand to bounce back slightly, but remain on the soft side. The labor market remains fairly strong and there is likely some pent-up demand for new household formation. However, affordability continues to be a major concern and sentiment data shows that Americans still lack confidence in the economy. Even in the most bullish scenario, it’s unlikely that demand will be strong enough to outstrip all of the new supply that we know is coming, likely resulting in our vacancy index rising modestly from its current level in 2024. We expect that rent growth will rise out of negative territory early next year, but that it won’t get above the low single digits in 2024.”
No. 3- The changing rent vs. buy math will create more long-term renters
Many families are remaining renters longer than they may have in the past. Even those who can afford to buy in today’s market may find that renting now actually makes morefinancial sense. Although most Americans still aspire to own homes, more are now finding themselves renting later in life, and that trend is likely to continue. Consensus expectations are that mortgage rates will ease modestly next year, but likely not enough to significantly alter the prevailing dynamics of the for-sale market. As paths to homeownership fade for many, renting will increasingly be seen as the more practical housing option.
No. 4- Hybrid work will cement itself as the new norm for office jobs
In 2023, the remote work narrative focused on return-to-office plans, but this focus obscures the fact the pendulum will never swing fully back to the pre-pandemic norm. According to the latest estimates, 28 percent of all work days are still from home, and that figure appears to be stabilizing at that level. 42 percent of American workers currently have some form of remote work flexibility, and hybrid arrangements are much more common than fully remote ones. The data shows that hybrid work is here to stay, driving demand for rentals that provide spaces and amenities that blend work and home life for today’s flexible workforce.
No. 5- Sun Belt markets will see more renters, but not necessarily higher rents
The nation’s fastest population growth in recent years has been taking place throughout the Sun Belt. But in many cases, Sun Belt markets have also been among the most accommodating of growth, allowing for new housing development to meet the growing demand. The key takeaway: fast-growing Sun Belt markets will continue to be renter magnets, but rent growth should be kept in check thanks to lots multifamily development.
No. 6- As the economy takes center stage in the presidential election, candidates will need to speak to housing concerns
As we head into a presidential election year, the question of whether the economy is good or bad has proven to be surprisingly complicated. Most of the key indicators of economic health are looking quite strong, but economic sentiment surveys show that confidence and satisfaction in the economy remain weak. It’s likely that at least some of this disconnect is being driven by waning housing affordability. As the election cycle continues to ramp up, candidates on both sides of the aisle will need to articulate housing plans and speak to what has become one of the most pressing concerns of the American electorate. 2024 could be the year where housing rises to the forefront of the political discourse.
No. 7- More renters will use AI in their searches
“We expect 2024 to bring a new wave of AI-powered tools specifically for renters. It will soon become commonplace for renters to use AI in their apartment searches to search, compare, and coordinate actions. It will take time for these advancements to change macro market dynamics, but the next high-demand rental market cycle may look quite different with new power in renter’s pockets. And as adoption of AI-enabled rental search tools accelerates into 2024, both renters and property managers can seize opportunities from this new technological frontier.”
Conclusion
“2024 is certain to bring twists and turns no model can predict, as the new year always does. But we hope that by forewarning of what’s foreseeable—from new supply waves to persistent homeownership headwinds bolstering rental demand—we can help you prepare for what is ahead.”
About the Apartment List research team:
The Apartment List Research Team is a small group of economists and analysts dedicated to understanding the rental market as it evolves rapidly. “On our blog we publish original research reports and offer robust data products for public use.”
If you have a ceiling fan in your home or apartment, then you are probably aware of the ceiling fan direction myth. According to popular belief, the direction of a ceiling fan’s rotation can affect the temperature of a room. As such, many homeowners go out of their way to adjust their fan blades to either cool down or warm up their surroundings.
Does the Direction of a Ceiling Fan Matter?
While heaters and air conditioners have long existed, ceiling fans predate them. Electric ceiling fans only came around in 1882, but the first noted ceiling fan goes back to the 17th century in India. Today, ceiling fans are a low-cost way to circulate airflow in a room and aid air conditioners on extra hot days. Despite their low cost, the ceiling fan industry is booming, with a projected global market size of $12.5 billion by 2025.
Ceiling fans are a staple in the summer, especially if you want to save on utility bills. They don’t use a lot of electricity, and they can effectively relieve some of the heat you feel. Although it might seem counterintuitive, many people also turn on their ceiling fans in the winter.
According to the popular myth, changing the direction of ceiling fans in winter can heat a room. If a ceiling fan’s blades turn clockwise, it can raise the temperature and warm the room. Moreover, the myth states that changing the direction of ceiling fans in summer can also cool down the same room. Turning the blades counterclockwise can lower the temperature and make the room colder.
Debunking the Ceiling Fan Direction Myth
In the past, ceiling fans mainly kept people cool on hot days. This is perhaps when the ceiling fan direction myth began. People assumed that the temperature of a room could be dictated according to how the ceiling fan rotated in which direction. Fan blades that run clockwise make the room warmer, while fan blades that run counterclockwise make the room cooler.
Over time, this assumption probably gained traction and became a part of everyday beliefs. Older generations would pass down this “lesson” to younger generations, who would take the advice at face value without question.
But, is there really any truth to the ceiling fan direction myth?
First, it is essential to understand that ceiling fans don’t affect temperature. They can’t raise or lower temperatures, so they don’t cool down or warm up a room. Instead, ceiling fans can make you feel cooler by drying up moisture from your skin and bringing your body temperature down. This is thanks to the wind chill effect they create.
Because ceiling fans don’t change the temperature of a room, switching the direction of blade rotations technically can’t do the same. The air movement remains unchanged. However, the direction of blade rotations can change the direction of air circulation, making it feel like the airflow changes as well.
Who Is Perpetuating the Ceiling Fan Direction Myth?
There are a number of possible reasons why people continue to believe the myth behind ceiling fan directions. Misinformation is rampant, especially in today’s world, where the Internet and social media make it easy to spread claims without scientific evidence. Some people trust everything they read or hear.
Of course, some people genuinely believe that ceiling fan directions can change a room’s temperature. This may be due to personal experience, wherein they perceived a shift in temperature after changing the direction of the blade rotation.
And then, some manufacturers and retailers push this myth on consumers for no other reason than increasing sales. They claim that their products can cool down or warm up a room according to the direction of the ceiling fan rotation. Consumers who place great importance on functionality and value for money then allow themselves to give in to these sales pitches without question.
How Do Ceiling Fans Work?
Ceiling fans are encased in a motor housing. This motor housing consists of an electric motor that rotates the fan blades. Depending on the direction of the blades, the fan can create either a downward or upward airflow. This airflow contributes to the wind chill effect, making people feel cooler.
Even though ceiling fans can’t inherently change the temperature of a room, they can affect air distribution or airflow. Rotating a ceiling fan counterclockwise can make you feel cooler in the summer by pushing cooler air downward. In the same way, rotating a ceiling fan clockwise can make you feel warmer by distributing warm air near the ceiling.
While changing the direction of a ceiling fan’s rotation can affect air circulation, it is essential to understand that it does not change the overall temperature of a room. Therefore, you should not feel disappointed or surprised if this simple act does not create a significant impact.
Changing Ceiling Fan Direction With Air Conditioning
Air conditioners are widely used in the summer. Unlike ceiling fans, air conditioners can change a room’s temperature. However, that does not mean you can’t use ceiling fans in the summer, too.
Ceiling fans help with airflow, so using them with your cooling system can distribute cool air. As such, you can change the ceiling fan direction for summer with air conditioning to cool rooms more effectively. This, in turn, can make you more energy-efficient and lower your utility bills.
How to Change Ceiling Fan Direction
There are two ways to change the direction of your ceiling fan’s rotation. The first is the manual method, which works on older models. To do this, look for the small switch on the fan motor housing. Then, simply flip the switch to change the direction of the blade rotation.
For newer and more advanced models, you can control the direction of your ceiling fan with a remote. Even programmable fans change directions automatically according to the season you set.
Ceiling Fan Direction Myth Debunked!
When it comes down to it, changing the direction of your ceiling fan’s rotation does not change the temperature of a room. It does not inherently warm up or cool down a space. However, it does help during winter or summer by aiding airflow. Calibrate your expectations to ensure the optimal use of your ceiling fan and create a comfortable living environment for everyone.
🌨️☃️ Get Ready to Shine with Bev Roberts Rentals Winter Wonderland Decor Contest! ☃️🌨️
Greetings, valued landlords and tenants! It’s time to let your winter creativity sparkle like freshly fallen snow! Join us in turning your homes into a winter wonderland and win big in our “cool” contest. The grand prize? A frosty $100 Amazon e-Gift Card to help you stock up on cozy winter essentials.
🏡❄️ Here’s how to make your winter decor shine bright:
2. Showcase Your Decor: Send us one photo capturing the enchantment of your winter or holiday decorations, either inside or outside your home, to amy@robertsrentals.net.
3. Let the Frosty Fun Begin: Starting on Wednesday, December 20th, we will post a collage on Bev Roberts Rentals’ Facebook page featuring all the stunning participant photos for everyone to admire.
4. Share the Winter Magic: Spread the chilly cheer by sharing the post on your Facebook page, inviting your friends and family to vote for your entry by liking it. Every snowflake… uh, we mean LIKE counts!
5. And the Winner’s Snowfall: The moment we’ve all been waiting for! On Wednesday, December 27th, we’ll unveil the grand image of our Winter Wonderland Decor Contest and announce the winner’s name on our Facebook page.
🌟✨ Now, let’s lay out the ice-cold rules:
❄️ WHO CAN ENTER: Participants must be current landlords or tenants of Bev Roberts Rentals, Inc.
❄️ FOLLOW: Participants must follow Bev Roberts Rentals on Facebook.
❄️ ENTRY LIMIT: You can enter only one (1) photo, so make it a winter masterpiece! Email your snowy photo to amy@robertsrentals.net.
❄️ WINTER THEME: Your décor photo must capture the spirit of winter or the holiday season, showcasing decorations or lights inside or outside your home.
❄️ PICKING A WINNER: The winner will be chosen based on the most number of LIKES a photo receives from users on Bev Roberts Rentals’ Facebook page. Our Bev Roberts Rentals staff won’t participate in the contest or vote – it’s all up to your winter-loving friends and family!
❄️ THE FROSTY PRIZE: The ultimate reward – a $100 Amazon e-Gift Card to keep you warm and cozy all winter long.
❄️ SPONSOR: Who’s the genius behind this fantastic winter contest? None other than Bev Roberts herself, the owner of Bev Roberts Rentals, Inc.
Let’s make this winter season magical! Share the joy, spread the warmth, and join us in our Winter Wonderland Decor Contest. May your winter décor shine brighter than Rudolph’s nose! ❄️🏡
We spend a great deal of time in the spaces in which we live, and it has been long understood that housing conditions can have a significant impact on one’s health. Individuals who live in substandard housing are more likely to encounter material or physical hazards, such as pest infestations, mold, leaks and dampness that may trigger negative health effects.
Landlording comes with many responsibilities that include providing your residents with a home that is safe and fit to live in. These conditions include ensuring proper electric, gas and plumbing utilities, as well as installing proper locks and security systems.
A renter must also adhere to certain standards to maintain a habitable environment. If a landlord fails to meet the requirements, the lessee has the option of deducting the costs of repair from their rent or vacating the premises with no constraints. A landlord can also be held liable for certain breaches of security that occur on his property if the unsafe condition or act could have been foreseen or prevented.
Landlord Responsibilities Differ from State to State
Model federal legislation introduced in 1972, called the Uniform Residential Landlord Tenant Act (URLTA), established a balanced framework for landlord–tenant laws which outlined rights and responsibilities of both parties for maintaining basic minimum habitability standards.
The Act established an “implied warranty of habitability” – an implied standard and requirement that landlords maintain habitable living conditions and perform basic property repairs even if the lease contract does not expressly dictate exact details. The vast majority of states have adopted some form of this model legislation
A landlord’s responsibilities can vary from state to state. For example, in Wisconsin, landlords must disclose uncorrected housing code violations. They must also reveal structural defects, a lack of hot or cold running water, serious plumbing or electrical problems and other hazards.
In Pennsylvania, landlords can’t legally rent property unless it meets basic health and safety requirements. Under Pennsylvania law, if a written or oral rental agreement exists, or if payment is accepted as rent, landlords and tenants have automatic rights and responsibilities under the Landlord and Tenant Act, such as the right to a livable dwelling and timely rent payments.
In Washington state, a landlord has 24 hours to restore heat, hot or cold water, electricity or fix a condition that poses an immediate hazard to life. They have 72 hours to fix a refrigerator, range and oven or a major plumbing fixture that has been supplied with the apartment and 10 days to make repairs in all other cases.
On the other hand, a tenant in Oklahoma can be evicted for failure to maintain water and electric service or if they engage in material noncompliance of the lease and it affects the health or safety of others. If harm to the property is imminent, then the landlord may terminate immediately and initiate eviction proceedings.
It must be noted that Arkansas is the only U.S. state that does not have a landlord’s implied warranty of habitability. This means that tenants have a requirement for maintaining their rental properties at certain habitability standards, but landlords are not legally required to contribute to those minimum health and safety standards, including the maintenance of plumbing, heating, or cooling systems and pest or rodent control.
Renting for Profit Brings Certain Responsibilities
Court decisions have held that the landlord offers premises for rent for a profit and in providing that service, they must provide living accommodations that meet certain habitability conditions. If he does not, the tenant may make those repairs or terminate the leasehold. If you have allowed unsafe conditions to exist on premises within your control and foreseeable harm results, you may be liable. If the tenant is responsible for the condition in specified ways, the tenant is responsible.
In terms of residential leases, in order for a landlord to be allowed to place rental units on the market, the landlord must first ensure that all of the following conditions which make the building fit for human occupancy are met.
We are using California’s Civil Code Secs. 1929, 1941 as an example, but similar stipulations are found throughout the country (except Arkansas).
Effective waterproofing and weather protection of roof and exterior walls
Well-maintained plumbing and gas facilities compliant with law in effect at the time of installation
Water supply compliant with applicable law that is capable of producing hot and cold running water
Well-maintained heating facilities compliant with applicable law at the time of installation
Well-maintained electrical lighting compliant with applicable law at the time of installation
Building, grounds and equipment kept sanitary and free from debris and vermin at the time of rent or lease
Sufficient number of receptacles for garbage
Well-maintained floors, stairways, and railings
Locks conforming to code [CA Civil Code Sec. 1941.3]
The landlord is not only responsible for seeing to it that these conditions are met at the time of lease. They are also obligated to oversee all necessary repairs unless the tenant violates any of their obligations to keep their area clean and sanitary, to dispose of all garbage from their unit in a clean and sanitary manner and to properly use all electrical, gas and plumbing fixtures. [CA Civil Code Sec. 1941.2]
At the start of a tenancy, the landlord must provide the tenant with the name and address of a person who can be readily contacted regarding maintenance problems. The landlord is responsible for making any repairs that are necessary to comply with local housing codes and to keep the premises safe. If the landlord refuses to repair major building defects, the renter may report the defect to their local building or health inspector. The landlord may not retaliate by evicting the tenant.
Conclusion
In reality, most landlords want safe premises in good condition and most tenants do take care of their homes. Nevertheless, being a landlord is an active type of business that requires reasonable upgrades, repairs and inspections.
For real estate investors, being well-informed about their rights and responsibilities can help protect their properties and maintain positive tenant relationships. Landlords and tenants who do their due diligence by staying on top of ever-changing laws, rights and regulations can easily navigate the rental landscape and avoid potential legal disputes.
The median U.S. asking rent was little changed from a year earlier for the sixth straight month as an increase in the number of rentals made it harder for landlords to boost prices.
But apartment construction has started to slow, which should ultimately help bolster rents.
Asking rents are climbing in the Midwest and Northeast, and falling in the West.
Rents are flattening out after going on a rollercoaster ride during the pandemic.
The median U.S. asking rent rose 0.4% year over year to $2,011 in September—the sixth straight month in which rents were little changed from a year earlier. Prior to that, rent growth had been slowing rapidly for roughly a year, coming back down to earth after a surge in prices during the pandemic.
The median asking rent fell 2% from a month earlier in September.
“Rents have flattened because a boom in apartment building in recent years has flooded the market with supply, but they haven’t yet posted a substantial decline because there’s still demand for rentals—especially as high mortgage rates keep many would-be homebuyers and sellers on the sidelines,” said Redfin Economics Research Lead Chen Zhao. “There are still a lot of apartments under construction that will continue to hit the market, which should keep rents from increasing much in the near-to-medium term. But construction has started to slow, which should eventually help bolster rent prices.”
The Number of New Apartments Hitting the Market Continues to Rise—But Construction Has Started to Slow
The number of completed apartment buildings in the U.S. rose 32% year over year to a seasonally adjusted annual rate of 433,000 in August, the most recent month for which data is available. But the number of apartment buildings on which construction has started declined 41% year over year to a seasonally adjusted annual rate of 334,000. Building starts are a leading indicator of what’s happening in the housing market, whereas building completions are a lagging indicator.
Building may be slowing, but landlords are still facing more competition than they’re used to as new rentals continue to hit the market. Sometimes, their competition is an individual homeowner who’s renting their home out instead of selling—either because they don’t want to lose their low mortgage rate, they didn’t get a good offer, or both.
“Last year, conversations with home sellers were hard. I had a lot of discussions about how they needed to lower their price expectations because the market had turned,” said David Palmer, a Redfin Premier real estate agent in Seattle. “But this year, they have a better understanding of the market. We’re now having the property management conversation earlier: ‘Do you have a rental plan if we can’t sell your home?’”
As rising rental supply leads to rising vacancies, some landlords are handing out concessions, such as a free month’s rent, to attract tenants without having to lower asking rents on paper. That’s good news for renters at a time when the median asking rent is still just 2.1% ($43) below its record high.
The jump in supply isn’t the only factor that has caused rents to flatten; slowing household formation, economic uncertainty and affordability challenges have also contributed.
Rents Rise in the Midwest, Fall in the West
In the Midwest, the median asking rent rose 5% year over year to a record $1,436. There was also an increase in the Northeast, where the median asking rent climbed 3.1% to $2,482. Asking rents fell 1.6% to $2,413 in the West and declined 0.3% to $1,653 in the South.
The rental market has softened substantially in the West and South in part because those markets saw outsized rent growth during the pandemic. Rents skyrocketed as people flooded into Sun Belt cities including Phoenix, Miami and Dallas. But once the rental boom in those regions cooled, prices had relatively more room to fall. Apartment construction in the Sun Belt has also been especially robust, contributing to the cooldown in rents. In the West, tech layoffs have likely contributed to the region’s sluggish rental market.
While rents in the West and South have been cooling, these regions’ rental markets have started to stabilize in recent months as the impact of the pandemic price boom moves further into the rearview mirror and layoffs ease.
Methodology
Asking price data includes single-family homes, multi-family units, condos/co-ops and townhouses from Rent.com and Redfin.com.
Redfin has removed metro-level data from monthly rental reports for the time being as it works to expand its rental analysis.
Prices reflect the current costs of new leases during each time period. In other words, the amount shown as the median rent is not the median of what all renters are paying, but the median asking price of apartments that were available for new renters during the report month.
robertsrentalsblog 
