renterBy Angelina Bader
Apartment List

Apartment List surveyed over 5,000 renters and homeowners about their perception of renter stigma. The survey results indicate that nearly 30 percent of Americans believe that there exists a negative social stigma associated with renting. This belief is prevalent among renters and homeowners alike. 34 percent of renters and 28 percent of homeowners agree that America’s renters – all 109,000,000 of them – are stigmatized in today’s society.

Nearly 9 in 10 Americans equate homeownership with personal success and economic security.

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ZillowIn a bid to be all the things, Zillow announced just minutes ago that it has launched new tools that will not only allow property owners and managers to collect rent and vet prospective tenants more easily, but will also provide renters with the ability to submit multiple applications for apartments at once and pay rent online.

The tools will also screen prospective tenants by performing background checks, the company said in a press release. (more…)

landlords

Photo courtesy Flickr/Alan Levine

With rents rising as demand grows, more and more people are taking the plunge and becoming landlords. In fact, a recent Bankrate.com report found that 22 percent of adults have invested in some way in real estate — a third of all those surveyed.

For some, it’s a desire to snag a great deal and hold on to it as an investment in the future. For some, it’s a reluctance to sell their former abode — in 2014, a Redfin survey revealed that almost 40 percent of those surveyed were interested in holding on to their old home when they bought a new one.

But almost every landlord we spoke to said it’s not exactly a path to easy money — and they were ready to share some knowledge with both renters and prospective landlords.

We posted a simple query to landlords on our Facebook page last Friday, and the conversation was robust. We also reached out to other landlords for more responses. 

The question? “What are some things you wish more tenants knew about renting?”

Responses (edited for clarity and brevity) are below. (more…)

home ownership

In a new national survey of renters, almost everyone dreams of home ownership, but affording it is not an option for many.

In Dallas, 97 percent of respondents claimed they want to own a home, but only 63 percent of those individuals could afford a mortgage in the city. The survey of 6,000 renters was created by Zumper, an apartment rental search company.

“The main contributing factor to this discrepancy seems to be that home values in Dallas are outpacing wage growth,” said Tanguy Le Louarn, head of data science at Zumper. “Various for sale reports in the Dallas area show an increase in home prices around 10 percent in the last year, some even report up to the mid double digits. Meanwhile, the Dallas Fed report recently stated that there has been a slow down in wage growth as higher paying jobs are being lost to lower paying ones—Dallas wages cannot keep up with the increasing home values.”

In fact, in a third of the surveyed cities, under half of renters earned enough income to qualify for a mortgage.

Interestingly, even though almost everyone surveyed wanted to buy, only 71 percent of respondents believe that the “American Dream” involves homeownership.

“While almost everyone wants to own a home at some point, the fact that only 71 percent of our respondents believe that the ‘American Dream’ involves homeownership highlights a potential shift in mentality of how this ideal can be achieved,” Le Louarn said. “While owning a home tends to be a good financial investment, it does not seem to be the end goal for as many people as it used to. Right now, homeownership is at its lowest ever and the renter population only continues to increase, especially among Millennials.”

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