Austin suburb Round Rock is crowned the best city for renters in 2022, reconfirming the Lone Star State’s rising appeal as a coveted place to live. North Carolina’s Raleigh is in second place, followed by small cities located mainly in the South and Southeast. These are the findings of our new annual ranking of best cities for renters, which was based on proprietary data and a mix of 17 metrics that best define a great renting experience: from the cost of living and the quality of rental housing to the local economy and the quality of life.

We analyzed data for hundreds of cities across the nation and narrowed them down to 115 candidates for the best cities to live as a renter in 2022. Specifically, we used a unique combination of 17 metrics based on our proprietary data that covers more than just affordability. In addition to what it costs to live there, we also looked at the selection and quality of apartments available in each city, the quality of the neighborhoods where rentals are located, occupancy rates, opportunities for job growth, air quality; and much more. All these metrics were given a certain weight and were gathered under three main categories: Cost of Living & Housing, Local Economy and Quality of Life. You can check out the full list of metrics used for the index in the methodology.

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The 2022 renter preferences survey report shows that renters have been on the move over the past 18 months and clearly seek more space in their living arrangements.

And, more telling is that a quarter of respondents who moved reported that their moves were due to a shift to remote work during the pandemic, according to the 2022 Renter Preferences Survey Report from National Multifamily Housing Council and Grace Hill.

“In general, renters are teleworking with higher frequency than ever before. And there’s little expectation of that changing. In fact, nearly two-thirds (64 percent) of survey respondents said they expect to be teleworking about the same amount over the next year as they are now. This shift is driving demand for home offices and meeting space,” the report says.

Renter Preferences Survey Report Hot Trends and Key Findings

1. Demand for more space

“Lockdowns seemingly led to a strong desire for additional space; twenty-eight percent of renters who said they intend to move to a different rental community when their lease expires cited “additional living space” as a reason, up from just 19 percent two years ago.

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By Phil Schaller

There are a few telltale signs that you may have some bad wiring at your property. If you or your tenants hear, see, or smell any of these indicators your electrical infrastructure needs to be inspected.

Electrical malfunction can be very dangerous (fires), not to mention that you need consistent electricity to power many components of the home (which you are legally obligated to provide based on landlord/tenant laws and the lease with your tenants). Not only should tenants be encouraged to report any issues with the property, electrical systems should also be inspected regularly (we suggest a couple of times a year).

Be alert for any of the following four signs of faulty electrical wiring from your tenants

1. Warm electrical wall outlets

If a wall outlet is warm to the touch, this is a sign of faulty wiring and should be addressed immediately.

Another indicator is if the outlet is vibrating; call an electrician!

2. Frequent circuit-breaker trips

The reason circuit breakers exist is to provide a safety net for the electrical systems of a property.

When an electrical system is overloaded, the circuit breaker will shut off the power. This happens occasionally and is normal here and there. But when the breaker trips too often (once a month or more) it’s a sign something is off.

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Utilize these strategies next time a unit ends up with multiple offers.

When Erin Wheelock recently listed a two-bedroom, three-bath condominium in New York City’s Flatiron District, she knew it would be snapped up quickly. What she didn’t expect, however, was that she’d receive six bids the first weekend after the unit hit the market—and that it would end up renting for $13,300, nearly 11 percent over the asking rent of $12,000 per month. The winning bidder also agreed to pay her brokerage commission.

That’s right—Wheelock was involved in a bidding war on a condominium listed for rent, not for sale. And she’s not the only one.

According to Jonathan Miller, president & CEO of New York real estate appraisal and consulting firm Miller Samuel, the market share of bidding wars surged to 19.8 percent of all Manhattan rentals in March 2022, up from 18.5 percent a year earlier. That means that nearly 20 percent of rental properties in March were leased for more than the landlord was originally asking.

“It’s a challenging market,” said Wheelock, a licensed associate real estate broker with Keller Williams New York City. “There’s high demand and low supply.”

Wheelock said that people migrating to New York are competing with existing renters looking to move to lower-priced units because their so-called “COVID deals,” which she describes as “insane rent cuts and free rent during COVID,” are expiring. She said that bidding wars for available properties are common, no matter what the asking rent.

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By David Pickron

For the first 100 years of being a country, the United States was comprised of small, rural family or ethnic groups that thrived upon sharing resources to support their entire communities. Over the last 100 years of our history and with the massive population growth in our major cities, many of us have become “strangers” to even our closest neighbors. Being a landlord today requires so much more than in the past. Gone are the days of knowing most of the people in our communities and getting referrals from those same people – trusted friends or family – to fill our properties. In the past a person’s actions might be known town-wide, but now people can live and move anonymously within our neighborhoods. How does that affect you as a property owner? And how does that affect your ability to operate as a “successful, lazy landlord,” a concept I teach and live by? I’ll tell you; it affects both dramatically.

A disclaimer before you read too far: I’m not advising you to never rent to any individual with a criminal history. I am advising you to utilize criminal history checks as just another tool in your landlord “toolbox.”

Criminal Histories

When it comes to understanding criminal behavior, we have to rely on the criminal statistics to give us a true and accurate look at our current situation. Recidivism, the tendency of a convicted criminal to reoffend, and the rates of reoffending are a powerful indicator for you as a landlord as you analyze a potential tenant. The Bureau of Justice recently released the results of a 10-year study of individuals that were released from prison in 2008.

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