A publication of the Rental Property Owners Association (RPOA)—Michigan’s largest real estate investor association (REIA).
VOLUME 60, ISSUE 3
The Rental Property Owners Association (RPOA) is Michigan’s largest real estate investor association and one of the largest in the nation. Since 1968, we've been supporting ethical real estate investment and rental property management, helping over 1,700 members succeed. We advocate for industry concerns both locally in Greater Grand Rapids and across Michigan, offering valuable services, benefits, training, and networking to enhance our members' skills and profitability.
MICHIGAN LANDLORD MAGAZINE's goal is to provide a forum for real estate investment and rental property ownership and management ideas and news. Our articles, columns, and other features should not be construed as investment advice, nor does their appearance imply an endorsement by the Rental Property Owners Association of Kent County of any specific real estate investment or management strategy. An investor’s and manager’s best course of action must be based on individual circumstances.
BOARD OF DIRECTORS
Nicholas Wyma, President
Jeremy Garcia, Vice President
Kevin Wright, Past President
Gary Hall, Treasurer
Kim Post, Secretary
Steve Ammon
Eddy Beekman
Joel Emerson
Matthew Hayes
Bert Heyboer
Rob Minch
Sharon Olson
Jon Smith
Tim VandenToorn
Steve Whitteberry
RPOA STAFF
Erika Farley, Executive Director erikaf@rpoaonline.org
Heather VandenBos heatherv@rpoaonline.org
Kristina Kyle kristinak@rpoaonline.org
Soyla Lange soylal@rpoaonline.org
Kristina Kyle kristinak@rpoaonline.org
Kristina Kyle kristinak@rpoaonline.org
Capitol Connection
Stay ahead of the curve with the latest updates from RPOA Executive Director Erika Farley on housing legislation and policy developments impacting rental property owners.
The last 18 months have brought a focus on housing policy at the state and local levels that has not been seen in 60 years. The Michigan legislature has introduced more than 100 bills that would affect the rental property industry both long and short term.
The RPOA has been working hard to
ensure that 99% of those bills are stopped in their tracks. We have been extremely successful in making that happen.
Recent Developments
• The Michigan legislature is currently on their summer break. With 2024 being an election year there will be very few, if
any, session days along with committee meetings before the general election on November 5th. After Thanksgiving the legislature will be back in earnest for ‘lame duck’ trying to move as many policy bills as possible before the end of the year when the legislative session will end.
• The Michigan Fiscal Year 2024/2025 annual budget was completed at the end of June and were signed by Governor Whitmer in July.
• No significant rental housing policy legislation was passed during the legislative spring session other than continuing to amend the “source of income” bills which requires property owners to consider Section 8 and other government and non-profit sources of income. The RPOA has been working on both the Senate and House packages to amend the bills to make them less harmful to property owners for over a year. It is expected that the final changes to the bills will be adopted before the end of the year and signed by the Governor.
• The following bills are the main issues that the RPOA is currently working on with legislators and our coalition members:
o Removal of credit checks
o Removal of criminal background checks
o Eviction expungement
o Lead inspections
o Application fees and caps
o Short term rental regulations and excise tax
• The primary for the general election was held August 6th with the general election being held Tuesday, November 5th. Along with federal offices, only the Michigan House of Representatives is up for re-election in Michigan along with many local races. There is projection that the Republicans will take a slim majority next January, however, that is only a projection and with the close split between parties in the chamber it could go either way.
CALL TO ACTION
Until the November election, the main thing RPOA members can do is to continue supporting the rental housing industry and elect those who will do the same by giving to the RPOA PAC.
Erika Farley, RPOA Executive Director
INVESTORS FUEL GROWTH
The Role of Investors in Expanding Housing Opportunities
Real estate investors have recently faced criticism for allegedly driving up prices and reducing affordable housing availability. However, this view overlooks the essential role investors play in the housing market. As highlighted in an article by Bruce McNeilage on Think Realty , real
estate investors, both institutional and individual, are vital in maintaining the health and stability of the housing market by acquiring and improving neglected properties. This article explores their contributions and addresses common misconceptions about their impact.
Investors inject capital into the housing market, often targeting properties that might otherwise remain vacant or fall into disrepair. This activity not only revitalizes neighborhoods but also creates opportunities for homeownership and rental housing that might not otherwise exist. Without this investment,
many properties would continue to deteriorate, contributing to urban decay and reducing the livability of entire communities.
The single-family rental (SFR) market has been a significant economic driver for centuries, continuing to provide housing options for those unable or unwilling to purchase homes. Increased investor activity often leads to rising home prices, particularly in lowerincome areas where property values might otherwise stagnate. This price appreciation reflects the improved desirability and livability of the area due to investor-driven improvements. Beyond property revitalization, real estate investors bring broader
economic benefits to local communities.
Renovation and redevelopment projects create jobs, stimulate local economies, and attract new businesses, further enhancing the area’s economic vitality. This economic growth can lead to better services and infrastructure, making the community more attractive to residents and businesses alike.
Investors are vital to maintaining and improving housing markets. By rehabilitating properties others might avoid, they help diversify
the market and create resilient communities. While there may be some "bad actors," most real estate investors ensure properties are maintained, communities revitalized, and housing options remain available for a broad range of people.
It’s time to move beyond outdated narratives that unfairly cast all investors as threats to affordability and recognize their valuable contributions to the housing ecosystem.
To read the full article, check out Think Realty
Renter’s Insurance Benefits Both Landlords and Tenants
As a real estate investor, protecting your investment is a top priority. While you likely have insurance for your property, encouraging or even requiring your tenants to carry renter’s insurance can be an often-overlooked but highly effective strategy for mitigating risk. Not only does renter’s insurance provide essential protection for tenants, but it also offers significant benefits for landlords and housing providers. This article explores
the advantages of renter’s insurance from the perspective of a real estate investor, highlighting how it can enhance your investment strategy.
Why Renter’s Insurance Matters
Renter’s insurance is a type of policy that covers a tenant’s personal property in case
of damage or theft and provides liability coverage if someone is injured in the rental unit. Despite its relatively low cost, many tenants overlook the importance of this coverage. However, as a landlord or housing provider, promoting or requiring renter’s insurance can safeguard your property, reduce your liability, and foster a more responsible tenant relationship.
Benefits for Landlords and Housing Providers
Reducing Potential Liability
Renter’s insurance includes liability coverage that can protect tenants if someone is injured on the property. For landlords, this means reduced risk of being held financially responsible for incidents that occur inside a tenant’s unit. In cases where a guest is injured or tenant negligence causes damage, the tenant’s renter’s insurance can cover the costs, reducing the likelihood of disputes or lawsuits involving the landlord.
Protecting Against Tenant Negligence
Accidents happen, and sometimes they can lead to significant damage to your
property. Whether it’s a kitchen fire, water damage from an overflowing bathtub, or a pet causing damage, renter’s insurance can cover the costs of repairs. Without this coverage, the burden of repair costs might fall on the landlord, especially if the tenant is unable to pay out of pocket.
Encouraging Responsibility Among Tenants
Tenants who carry renter’s insurance are often more conscientious and responsible. By requiring renter’s insurance as part of the lease agreement, you signal that you expect tenants to take responsibility for their own actions and belongings. This can lead to a more respectful tenant-landlord relationship and reduce the likelihood of disputes.
Streamlining the Claims Process
In the event of damage to your property, having tenants with renter’s insurance can simplify the claims process. Rather than navigating disputes over who is responsible for damages, the tenant’s insurance can quickly step in to cover their portion of the loss. This can expedite repairs and reduce the financial and administrative burden on the landlord.
Attracting Quality Tenants
Requiring renter’s insurance can be an indicator of a well-maintained, professionally managed property. Prospective tenants who are willing to carry insurance are often more financially stable and responsible, which can lead to fewer issues with rent payments or property upkeep. By positioning your property as one that prioritizes protection and responsibility, you may attract higherquality tenants who value these aspects.
Benefits for Tenants
Protection of Personal Belongings
Renter’s insurance provides tenants with peace of mind by protecting their personal belongings from events like theft, fire, or water damage. This coverage is especially valuable in multi-unit buildings where risks like fire or water leaks from neighboring units can cause damage.
Liability Coverage
If a guest is injured in the tenant’s rental unit, renter’s insurance can cover medical expenses and legal costs if the tenant is
Top Reasons to Require Renter's Insurance
Liability Protection: Avoid being on the hook for accidents in your units.
Coverage for Tenant
Negligence: Fires, floods, and mishaps—renter’s insurance has it covered.
Affordable Peace of Mind: Renter’s insurance typically costs tenants just $15-$30 a month! Bonus for RPOA Members: Access exclusive offers through Millennial Specialty Insurance—no underwriting or inspections required! 1 2 3 4 5
Attract Quality Tenants: Insurance-conscious tenants are often more responsible. Streamline Claims: Simplify the process when damages occur.
sued. This coverage is crucial for tenants who want to protect themselves from unexpected financial burdens.
Temporary Living Expenses
In cases where a rental unit becomes uninhabitable due to a covered event, renter’s insurance can cover the cost of temporary living arrangements. This ensures that tenants are not left without a place to stay while repairs are made, reducing stress and potential conflicts with landlords.
Millennial Specialty Insurance: A Simple Solution
RPOA members can easily access renter’s insurance through Millennial Specialty Insurance (MSI), thanks to the association’s membership in NREIA. MSI offers renter’s insurance with no underwriting or inspections required, along with a 24/7 certificate delivery system and excellent claims management. This makes it easier for both landlords and tenants to secure the coverage they need, providing peace of mind and added protection for your investment.
Wrapping It Up
Renter’s insurance is a small investment that yields significant benefits for both landlords and tenants. For real estate investors, requiring this coverage helps protect properties, reduce liability, and attract responsible tenants. By incorporating renter’s insurance into your leasing strategy, especially through partnerships like Millennial Specialty Insurance, you can better protect your investments and ensure tenants have the coverage they need for unexpected events.
Encouraging renter’s insurance isn't just about safeguarding your property—it’s a strategic move that aligns with the goals of both landlords and tenants, creating a more secure and mutually beneficial rental experience.
Maximizing Your RPOA Membership Benefits
RPOA membership offers valuable resources and discounts that can significantly enhance your real estate investments.
Exclusive Discounts: Save with member-exclusive discounts to local and national retailers, including a 2% rebate on purchases at Home Depot.
Educational Resources: RPOA offers classes and events that help you stay ahead of industry trends and improve your investment strategies.
Networking Opportunities: Connect with fellow investors and industry professionals at RPOA events to share insights and discover new opportunities.
Advocacy: Stay informed on legislative changes affecting property owners and investors, and support RPOA’s efforts to protect your interests.
Tools and Services: Utilize tenant screening services, lease agreements, and more to streamline your operations.
By fully leveraging your RPOA membership, you can maximize savings, stay informed, and grow your real estate portfolio with confidence.
CRACKING DOWN ON CASH DEALS
The U.S. real estate market, already a complex and dynamic arena for investors, is about to undergo a significant regulatory change aimed at increasing transparency and preventing illicit activities. On Wednesday, the U.S. Treasury Department announced a new rule designed to curb money laundering through all-cash residential real estate transactions. As reported by Keith Griffith on Realtor.com, this rule is set to impact how real estate professionals handle certain transactions, particularly those involving shell companies or other legal entities used to purchase property.
Under this new rule, which will take effect on December 1, 2025, real estate professionals will be required to report the true identity of all-cash homebuyers who use shell companies or other entities
to the Financial Crimes Enforcement Network (FinCEN). This requirement adds a new layer of responsibility for those involved in the real estate transaction process, especially in cases where the buyer's identity might otherwise remain
anonymous. The goal is to prevent nefarious actors, such as drug cartels or sanctioned foreign oligarchs, from using
the U.S. housing market to launder money.
The rule is not designed to penalize cash deals—indeed, the market has seen a rise in cash transactions, with 32% of home sales conducted in cash as of January,
Despite the legitimate nature of most cash transactions, the Treasury Department’s new rule seeks to address the risks associated with anonymous all-cash purchases. Real estate has long been a target for money launderers, who exploit the system by using illicit funds to purchase properties, often cloaked in secrecy through shell companies. These properties can then generate seemingly legitimate income through rentals or sales, effectively laundering dirty money. The new rule aims to close this loophole by ensuring that the true beneficial owners of such properties are identified and reported to FinCEN.
The responsibility for reporting these transactions will primarily fall on the closing agent, an independent third party who facilitates many real estate closings. If no closing agent is involved,
the highest share in nearly a decade. This increase is largely due to higher mortgage rates, which have prompted many buyers to pay in cash to avoid steep interest costs. Additionally, the COVID-19 pandemic has spurred migration patterns that led many families to sell high-priced homes in states like California and New York and buy new homes outright in more affordable regions. Investors, who are nearly twice as likely as other buyers to use cash, also contribute significantly to this trend.
the duty will shift to other professionals involved in the title transfer process, but only one report will be required per transaction. The reports will include detailed information about the buyer, seller, property, and sale amount, with certain low-risk transactions, such as those stemming from death or divorce, exempted from the reporting requirement.
This rule expands on similar measures that have been in place since 2016 in highrisk markets like Miami and Manhattan. The new regulation applies nationwide, reflecting a broader effort to protect the U.S. real estate market from being exploited by criminals. The American Land Title Association (ALTA), while supportive of the rule’s goals, has expressed concerns about the potential financial burden on small businesses involved in real estate transactions, estimating
that the new regulation could increase costs by up to $500 million annually.
For real estate investors, this new rule represents both a challenge and an opportunity. While it may introduce additional compliance costs and complexity, it also reinforces the importance of transparency and integrity in the market. Investors who prioritize these values may find themselves better positioned to navigate the evolving regulatory landscape.
As the real estate market continues to adapt to new regulations, understanding the implications of these changes will be crucial for investors looking to protect their assets and capitalize on new opportunities.
To read more about this new rule and its impact on the real estate market, visit Realtor.com.
Welcome
To Our Newest Members!
We’re excited to have you as a member of the RPOA community. As a member, you’re now connected to valuable resources and a network of real estate professionals focused on growth and success. We look forward to helping you achieve your investment goals!
Ahmed Abuzaid
Betina Cousineau
Brad Miedema
Brad Pries
Brandon Hamilton
David Shoemaker
Dean Reyburn
Donny Nguyen
Eli Kamminga
Emily Clark
Erika Grala
Gary Smith
Heather Stimson
James Honeycutt
James Tenhaaf
Jamie Sauline
Jeff Hunsburger
Jennifer Skarda
Jesus Canales
John Carmichael
John Lux
Jon Ippel
Josephine Cole
Julie Baker
Karen Kehoe
Kyle Johnson
Marcus Rich
Mark Baker
Mark Cochrane
Martin Bolinger
Michael Trupke
Mike Coleman
Nicole Sterk
Perry Bonjernoor
Regina Lungaro
Renee Green
Sarah Salyer
Sarah Torrey
Serena Chapman
Shaun Donigan
Stephanie Collier
Steven Heeringa
Steven Pettit
Terry Anderson
Tiffany Burns
Tim Wolffis
Tony Pinson
Victor Sanchez
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TINY HOMES, Big Impact
As housing costs continue to rise, affordable housing solutions have become a critical concern across the nation. One effective example comes from Springfield, Missouri, where tiny-home villages are providing shelter while also transforming communities. These villages, led by Linda Brown and her nonprofit, Eden Village, are highlighted in an article by Mandy Ellis in Realtor Magazine , showcasing a model that addresses homelessness through permanent, supportive housing. This article explores the impact of
these tiny-home communities and their implications for affordable housing.
A Vision for Affordable Housing
In 2010, Linda Brown and her husband, David, started with a simple drop-in center for the homeless called The Gathering Tree. What began as a modest effort evolved into Eden Village, a series of tinyhome communities offering permanent housing to the chronically homeless, many of whom have disabilities. Each
400-square-foot home is fully furnished, providing a stable environment for those who have spent years on the streets. This housing-first approach has had a significant impact, reducing the homeless population in Springfield by 25% and providing over 74,000 nights of shelter.
A Model for Nationwide Implementation
Eden Village’s success is evident, with 55 residents currently housed and plans for additional villages underway. The model’s scalability is demonstrated by its adoption in 13 other locations across the U.S. These communities offer more than just housing; they provide essential services like healthcare, job training, and case management through partnerships with local organizations such as Burrell Behavioral Health and the National Alliance on Mental Illness. The results are notable: 70% of residents who leave Eden Village move on to other permanent housing, and 25% increase their income.
Building Communities
What sets Eden Village apart is its focus on creating a supportive community. The villages are gated, drug-free, and crimefree, with a rigorous application process
to ensure residents are likely to thrive. Regular health, wellness, and maintenance checks help residents achieve their goals, whether overcoming addiction or improving self-care. This supportive environment benefits not just the residents but also the surrounding neighborhood. Research from Missouri State University shows that property values in areas near Eden Village actually increase, contradicting concerns that affordable housing projects lower local real estate prices.
A Path Forward for Affordable Housing
Linda Brown’s story is an example of how innovative solutions can address pressing social issues like homelessness. For real estate investors and developers, Eden Village offers a case study in how socially responsible investments can also be financially beneficial. As more cities seek ways to provide affordable housing, the tiny-home village model could play a key role in meeting this demand, while also revitalizing communities.
To read the full article and learn more details about Eden Village, check out Realtor Magazine .
Fall Maintenance Tips: Keep Your Properties in Shape and Save with Home Depot
As fall approaches, it’s the perfect time for property owners to prepare for the colder months ahead. Seasonal maintenance is crucial to preventing costly repairs during winter and ensuring your properties remain in top condition. For RPOA members, leveraging the benefits available through Home Depot can make this essential upkeep more affordable.
Home Depot offers a 2% rebate on semiannual net purchases over $5,000, so stocking up on materials now can lead to savings as you prepare your properties for winter. Here’s a fall maintenance checklist, along with tips on how you can maximize your savings.
Gutter Cleaning and Maintenance
One of the first tasks
to tackle this season is cleaning your gutters. Leaves and debris can quickly accumulate, leading to blockages that cause water damage or ice dams during winter. Regularly clearing out gutters ensures proper drainage and protects your property’s foundation.
As temperatures drop, it’s important to check your property’s exterior for any gaps or cracks
around windows, doors, and siding. Sealing these areas with caulk or weatherproofing materials helps keep out drafts and moisture, improving energy efficiency and preventing potential damage.
HVAC System Maintenance
Fall is an ideal time to ensure your HVAC system is ready for winter. Replacing air filters, checking the thermostat, and scheduling a professional inspection can keep your system running efficiently.
Fresh Paint and Stain Touch-Ups
If you’ve noticed any areas where paint or stain is peeling or fading, fall is a great time to address these issues. A fresh coat of paint
can protect surfaces from the elements and enhance your property’s curb appeal. RPOA members benefit from a 20% discount on paints, stains, and primers at Home Depot, making it easy to tackle these touch-ups before winter sets in.
Prepping your landscape for winter is key to maintaining its health. Tasks like trimming overgrown branches, mulching garden beds, and reseeding bare patches can protect your lawn and plants from winter stress.
Roof Inspection
Inspecting your roof
for wear and tear is essential before the winter months. Look for missing or damaged shingles, as well as any signs of leaks or weak spots. Addressing roof issues now can prevent more serious problems like water damage or ice dams.
Insulating Windows and Doors
Improving insulation around windows and doors is another critical fall task. Adding weather stripping or foam tape can help keep your property warm and reduce energy costs.
Plumbing and Water Heater Check
As temperatures drop, ensure that your plumbing is prepared for winter. Inspect pipes for any leaks or weak spots, and consider insulating
them to prevent freezing. It’s also a good idea to check your water heater’s performance, making sure it’s ready to handle increased demand during colder months.
Taking care of these fall maintenance tasks will help you protect your properties and avoid costly repairs during the winter. With the exclusive benefits available to RPOA members at Home Depot, you can make this seasonal upkeep more affordable and efficient. Prioritize these tasks to ensure your properties are ready to face the winter months in top condition.
Members can call our office at 616-454-3385 to get signed up for Home Depot's rebate program and start saving today!
Home Depot rebate program available to RPOA members through National REIA!
Pro Xtra benefits include: a Pro Xtra Perks a Preferred Pricing a Exclusive Offers a Paint Rewards a Volume Pricing a Purchase Tracking a Text2Confirm Authorization
• Enroll to receive a potential semiannual rebate on all qualifying pretax purchases*
• Participating members with semiannual net purchases of over $5,000 will receive a 2% rebate**
• Rebate payments issued twice a year, within 60 days of 6/30 & 12/31
* Accounts must be registered/ enrolled through the website above to receive rebate credit.
** Minimum rebate period spend of $5,000 required to receive a rebate from Home Depot. Rebates from Home Depot under $1000 will be via Home Depot gift card.
THE RISE OF REMOTE WORK REMOTE WORK
Impacts on Real Estate Investing in Residential, Commercial, and Short-Term Rental Markets
The shift to remote work, accelerated by the COVID-19 pandemic, has fundamentally changed the dynamics of both residential and commercial real estate markets. As companies and employees increasingly embrace remote work as a permanent option, the effects on real estate investing are profound and multifaceted. This article explores the ongoing growth of remote work, its implications for real estate investors, and how it is reshaping investment strategies across residential, commercial, and short-term rental markets.
THE
GROWTH OF REMOTE WORK AND ITS LIKELY FUTURE
Remote work was initially a temporary solution during the pandemic, but it has since become a permanent fixture in many industries. According to data from the U.S. Census Bureau, in 2022, nearly 50% of the workforce was engaged in some form of remote work. This shift is expected to grow as technology improves, and companies recognize the cost benefits of maintaining smaller
physical office spaces.
Several factors contribute to the ongoing rise of remote work. First, advancements in communication and collaboration technologies have made it easier for employees to work from anywhere. Video conferencing, cloud computing, and project management tools have all reduced the need for employees to be physically present in an office. Second, the cost savings for companies are significant. With less need for office space, companies can reduce overhead costs, leading to higher profit margins. Finally, employees are increasingly valuing the flexibility and work-life balance that remote work offers, making it a competitive advantage for companies looking to attract and retain top talent.
IMPACT ON RESIDENTIAL REAL ESTATE INVESTMENT
The rise of remote work has had a notable impact on residential real estate, particularly in suburban and rural areas. As remote work frees employees
from the need to live near their workplaces, many have opted to move away from expensive urban centers to more affordable and spacious suburban or rural locations. This migration has driven demand for single-family homes in these areas, leading to increased property values and rental rates.
For real estate investors, this trend presents both opportunities and challenges. Investors focusing on suburban and rural properties have seen significant appreciation in their portfolios. However, the flip side is that urban properties, especially smaller apartments and condos in central business districts, have seen slower growth or even declines in value and rental demand. Investors need to adapt by diversifying their portfolios to include properties in high-demand suburban and rural areas.
IMPACT ON COMMERCIAL REAL ESTATE INVESTMENT
Commercial real estate, particularly office space, has been significantly impacted by the remote work trend. As companies reduce their physical office footprints, the demand for traditional office spaces has declined. This has led to higher vacancy rates and lower rental income for commercial real estate investors in urban areas traditionally dominated by office buildings.
However, this shift has also created
new opportunities. Investors are increasingly looking at repurposing commercial properties for other uses, such as converting office buildings into residential units or mixed-use developments that cater to the changing needs of urban dwellers. Additionally, there is growing demand for flexible office spaces, such as coworking environments, where companies can lease smaller spaces on more flexible terms.
IMPACT ON SHORT-TERM RENTALS AND AIRBNB HOSTS
The remote work trend has also
influenced the short-term rental market, including platforms like Airbnb. With the flexibility to work from anywhere, many remote workers are choosing to combine work and travel, leading to increased demand for short-term rentals in desirable locations. This trend, known as "workcations," has created new opportunities for short-term rental owners and hosts.
THE MICHIGAN EXAMPLE: LOCAL IMPACTS OF REMOTE WORK
Michigan provides a clear example of how the rise of remote work is reshaping real estate markets on a local level. Cities like Grand Rapids and Ann Arbor have seen a surge in residential real estate activity as remote workers seek more space and affordable housing. The demand for suburban and rural properties has driven up property values and rental rates in these areas, benefiting investors who have capitalized on these trends.
On the commercial side, Detroit’s real estate market has also experienced
significant changes. With a decline in demand for traditional office space, investors in Detroit are reimagining the use of large office buildings. For example, the historic Albert Kahn Building, once a bustling office space, is being transformed into luxury apartments and retail space. This shift highlights the importance of flexibility and creativity in adapting to the changing needs of the market.
The short-term rental market in Michigan has also felt the impact of remote work. Popular vacation spots like Traverse City and the Lake Michigan shoreline have seen a surge in demand for short-term rentals as remote workers seek out scenic, relaxing environments to work from. This has led to higher occupancy rates and increased income for Airbnb hosts in these areas, though it also brings challenges, such as navigating local regulations.
ADAPTING INVESTMENT STRATEGIES FOR THE FUTURE
As remote work continues to grow,
real estate investors need to adapt their strategies to stay ahead of the curve. For residential investors, this may mean focusing more on suburban and rural properties that cater to the needs of remote workers seeking larger living spaces. Commercial investors should consider repurposing underutilized office spaces and exploring opportunities in flexible workspaces and mixed-use developments. Shortterm rental investors can capitalize on the "workcation" trend by marketing properties as ideal remote work destinations.
Investors should also pay close attention to market trends and data to identify emerging opportunities and potential risks. Understanding local market dynamics, especially in states like Michigan where the impact of remote work is already visible, will be crucial in making informed investment decisions.
LOOKING AHEAD
The rise of remote work is not just a temporary shift; it’s a fundamental change in how we live and work. For real estate investors, this presents both challenges and opportunities. By staying informed and adapting to the evolving landscape, investors can position themselves to capitalize on the new trends shaping the future of real estate.
To stay competitive, real estate investors must embrace flexibility, innovation, and a keen understanding of the market forces at play. The key to success will be the ability to anticipate and respond to the changing needs of remote workers and the broader housing market.
WHAT MAKES A PROPER POLICY ?
Building & Contents
Special cause of loss (all risk), replacement cost (new for old).
Liability
$1M Commercial General Liability protection with increased limits available.
Revenue
Actual loss sustained business revenue coverage with no time limit.
CUSTOM COVERAGE FOR YOUR SHORT-TERM RENTAL
Property Entrustment
When you hand your keys to a guest, standard policies exclude coverage for theft, vandalism and intentional damage to your property. Proper does not exclude these items.
Pet & Animal Liability
Guest’s dog bites your neighbor? Alligator at your beach home? Bear in your mountian cabin? Proper has no limitations on type of animal or pet breed.
Bed Bug & Flea Protection
No need to worry about unwanted critters in your home. Proper offers bed bug and flea liability, removal, and loss of business revenue as a result of infestation.
Squatter Protection
If you have a guest wo refuses to leave your property, Proper covers up to $5,000 in eviction costs and up to $10,000 in loss of business revenue.
Amenities Off-Premise
Many policies exclude coverage for bikes, boats, and golf carts or limit coverage to your property line. Proper covers liability for common amenities on or off your property.
Liquor Liability
Wheather you include a beverage gift for your guest or want to enure that alcohol left by guests doesn’t end up in the wrong hands when the next group arrives, we’ve got you covered.
CLASSES & EVENTS
2025 BUSINESS PLANNING (MONTHLY REAL ESTATE INVESTOR MEETUP)
SEPTEMBER 9TH | 6PM - 8PM
Join us for a fun and informative evening as we take some time to hear what 2025 may bring to the businesses and find out how to plan for it.
Planning for what is in store for businesses the next year can be daunting. Let's learn about this together.
There will be plenty of time for networking and Q&A, so come prepared with your questions!
RSVP to join us and prepare for what is in store for businesses in 2025!
REGISTER
VIRTUAL REAL ESTATE INVESTOR MONTHLY MEETUP
SEPTEMBER 13TH | 8AM - 9AM
Join us on the 2nd Friday of every month for
virtual networking with landlords, investors, realtors, lenders and vendors who are invited to share their haves and wants!
REGISTER
FOUNDATIONS OF BUYING, LEASING & SELLING RENTAL PROPERTY
SEPTEMBER 16TH | 9AM - 12PM
3 Hours CE Credit for Licensed Real Estate Professionals
Join us LIVE online via Zoom or in person!
This course provides a complete overview of the entire rental property business–from buying a rental property to management and selling. If you’re a beginner, this course is a MUST!
Even if you’re not new to the rental property business, there’s still plenty to learn, including updates on local and state laws. It never hurts to take a refresher course as good insurance against future mishaps. Presented by Justin Workman.
Some of the topics covered in the course include:
• proper due diligence before buying a rental property or turning your existing home into a rental property
• Federal, State, and local regulations regarding rental property ownership and management
• methods for effective management, including tenant screening, dealing with problem tenants, evictions, and more
• setting rental rates and effectively advertising rental property
• proper forms to use for leasing a rental property
• what to do before selling a rental property
REGISTER
EPA RRP CERTIFICATION
TRAINING-BLENDED COURSE
SEPTEMBER 24TH | 9AM - 12PM
Earn EPA RRP Renovator Certification
Renovation, repair, or painting (RRP) work done in facilities containing lead-based paint could release hazardous lead dust. This dust can be harmful to you and your residents. Not knowing how to follow proper lead safety procedures can expose your rental property business to liability.
The EPA requires all contractors, landlords and property managers performing RRP activities on pre-1978 rental properties to use lead-safe
work practices and be certified under the new RRP rules. In this EPA-approved certification course, a certified lead-safe work practices trainer will teach lead-safe work practices in a comprehensive session.
EPA RRP CERTIFICATION TRAINING REFRESHER
SEPTEMBER 24TH | 12:30PM - 1PM
This course teaches rental property owners, contractors and other paid professionals how to work safely in housing with lead-based paint and comply with the EPA’s Renovation, Repair, and Painting (RRP) Rule, and HUD’s Lead Safe Housing Rule. If you have current RRP certification and are due for recertification, sign up before your expiration date to maintain your eligibility. After the expiration date, you will be required to take the 8-hour certification class.
LEARNING LAB: GRAND RAPIDS FREE WINDOWS. DOORS. SIDING.
SEPTEMBER 26TH | 12PM - 1PM
Join us to find out how you can receive free replacement doors and windows and free siding and more. If you own a rental property in Grand Rapids built before 1978, you may be eligible to receive up to $20,000 per unit from the City of Grand Rapids lead hazard control grant program. Making your rental property lead-safe through this program will not only include free repairs to your units, but also reduces your exposure to potential lawsuits for lead poisoning.
RPOA Outreach Coordinator, Heather VandenBos, will provide information on eligibility and other grant program provisions. Don’t miss out! Registration is required.
BASIC BUYING & SELLING RENTAL PROPERTY AND ACQUISITION STRATEGIES
OCTOBER 7TH | 10AM - 12PM
2 Hour CE Credit for Licensed Real Estate Professionals
Buying and selling rental and investment property can be very profitable—if done correctly. However, there are many problems that can arise during real estate transactions. Learn the correct way to handle real estate deals and how to avoid complications while saving money in the process and improving your return on investment.
Join Allison Koetsier, experienced buy and hold real estate investor and broker, as she eliminates the mystery from purchasing investment property. Through her class you'll learn how to keep it legal and profitable as you negotiate inspections, title work, taxes, and other real estate transaction nuances.
TAX GARNISHMENTS
OCTOBER 14TH | 6PM - 8PM
If you’re facing uncollected money judgments, this meetup will guide you on the next steps to pursue those balances. Bring your money judgment along, and gain practical insights to navigate the process. Plus, take advantage of the opportunity to connect with fellow investors, exchange strategies, and expand your network.
Earn EPA RRP Renovator Certification
Renovation, repair, or painting (RRP) work done in facilities containing lead-based paint could release hazardous lead dust. This dust can be harmful to you and your residents. Not knowing how to follow proper lead safety procedures can expose your rental property business to liability.
In this EPA-approved certification course, a certified lead-safe work practices trainer will teach lead-safe work practices in a comprehensive session.
MICHIGAN INCOME TAX RETURN GARNISHMENT
OCTOBER 21ST | 12PM - 1PM
Heather VandenBos, from the RPOA office, will walk you through the steps of how to garnish state income tax returns. This once-a-year opportunity can bring you a profitable collection experience.
In-person appointments can be made at the RPOA office if you need individual assistance filling out the forms.
REGISTER
FREE LEAD-SAFE CERTIFICATION TRAINING
OCTOBER 25TH | 8AM - 4:30PM
As climate change accelerates, its effects are being felt across all sectors, with real estate emerging as one of the most vulnerable. Increasingly, investors are recognizing that the environmental risks associated with global warming are not just hypothetical but present real, tangible threats to property values and long-term profitability. This shift is prompting a reevaluation of investment strategies, as both commercial and residential real estate sectors adapt to the realities of a changing climate.
Climate Change: A New Cycle of Risk
The real estate market has faced significant challenges in recent years, from the aftershocks of the COVID-19 pandemic to fluctuating interest rates. However, as Bloomberg News reported (reposted on investmentnews.com , climate change represents an entirely new cycle of risk that is beginning to take center stage. Investors are increasingly aware that properties exposed to extreme weather events, such as hurricanes and flooding, are becoming liabilities rather than assets.
This is leading to a shift in how properties are evaluated, with climate resilience now being a key factor in decision-making.
Shifting Investment Strategies
Joseph Sumberg, a former managing director at Goldman Sachs, exemplifies this new approach. Sumberg has made a bold career move, joining forces with billionaire investor Tom Steyer to focus exclusively on climate-proofing real estate assets through Galvanize Climate Solutions LLC. Sumberg’s approach centers on acquiring properties and retrofitting them to withstand the challenges posed by climate change. He sees this as not just a necessary step, but as the "biggest opportunity in commercial real estate to make money."
This shift is also reflected in broader market trends. Investors are now looking more critically at properties in regions vulnerable to climate change, such as coastal areas prone to rising sea levels or regions facing increased wildfire risks. The traditional metrics of property valuation are
Betting onGreen
being supplemented with assessments of environmental sustainability and climate resilience. As Bloomberg News pointed out, there is growing concern that many current real estate portfolios may consist of "stranded assets"—properties that will lose value or become unmarketable due to climate-related risks.
The Role of Policy and Regulation
The role of government policy is also becoming increasingly significant in shaping real estate investment strategies. The Biden administration’s recent introduction of the first-ever U.S. national plan for decarbonizing residential and commercial buildings marks a significant step in this direction. According to Bloomberg News, this policy shift, along with similar moves in Europe, is forcing investors to consider the long-term implications of climate change on their holdings. Properties that fail to meet new energy efficiency standards or that are located in high-risk areas may face reduced demand, lower valuations, and higher insurance costs.
This regulatory backdrop is influencing
investor behavior, with many now prioritizing sustainability in their portfolios. As Sumberg notes, the ultimate impact of climate change on property valuations may still be unclear, but the trend is undeniable: climate considerations are becoming a central component of real estate investment strategies.
The Future of Real Estate in a Changing Climate
The real estate market is at a crossroads, with climate change emerging as one of the most critical factors influencing
investment strategies. The increasing recognition of environmental risks is driving investors to reassess their portfolios, prioritize sustainability, and prepare for a future where climate resilience is not just an advantage but a necessity.
For real estate investors, the message is clear: adapting to climate change is no longer optional. Those who move swiftly to incorporate climate considerations into their investment strategies will be better positioned to protect their assets and capitalize on new opportunities in a rapidly changing market.
Worry-Free Rentals.
Ensure top-notch tenants every time with RPOA’s tenant screening services.
30-year
(APR)
Primary, Secondary And Investment Properties.
Purchases
Creative Programs For Bad Credit.
Portofolio And Banket Loans. Hard Money Available.
VENDOR DIRECTORY
1031 Exchange Services
Company Name: Accruit
Contact Name: Dylan Johnson
Phone: (303) 865-7311
Website: accruit.com
Account & Bookkeeping
Company Name: Culver CPA Group
Contact Name: Duane Culver
Phone: (616) 456-6464
Website: culvercpagroup.com
Company Name: Ippel Bookkeeping Solutions
Contact Name: Mason Ippel
Phone: (616) 337-4794
Website: ippelbookkeeping.com
Company Name: Stonehenge Consulting PLC
Contact Name: Keith Harris
Phone: (616) 891-1147
Appliance Dealers
Company Name: Synergy Appliances
Contact Name: Brian Teysen
Phone: (616) 600-3627
Website: synergyappliances.com Appraisals
Company Name: Premier Appraisal Service Inc
Contact Name: Kenneth Nicholson
Phone: (616) 452-4414
Attorneys & Legal Services
Company Name: Helmet Fox Law Group
Contact Name: Todd VanEck
Phone: (616) 552-6380
Company Name: Hilger Hammond
Contact Name: Justin Wheeler
Phone: (616) 284-3061
Website: hilgerhammond.com
Company Name: Hill, David Atty
Contact Name: David Hill
Phone: (616) 742-3992
Website: btlaw.com
Company Name: Kreis, Enderle, Hudgins & Borsos, P.C.
Contact Name: Daniel Boocher
Phone: (616) 254-8423
Company Name: Slot Law Group, PLLC
Contact Name: Sawyer Rozgowski
Phone: (616) 303-6168
Website: slotlaw.com
Company Name: Stout Law, PLLC
Contact Name: Matthew Stout
Phone: (616) 724-0346
Company Name: Sutherland Law, PLC
Contact Name: Kevin Sutherland
Phone: (616) 333-2427
Company Name: Traverse Legal, PLC
Contact Name: Enrico Schaefer
Phone: (231) 313-0564
Company Name: Varnum LLP
Contact Name: Randall Groendyk
Phone: (616) 336-6000
Website: varnumlaw.com
Company Name: Velo Law Office
Contact Name: Diane M Heidema
Phone: (616) 333-0707
Company Name: Ventures Law Firm
Contact Name: Lane Zabawa
Phone: (734) 790-3801
Website: ventureslawfirm.com
Banks
Company Name: First National Bank of America
Contact Name: Michael McDowell
Phone: (616) 538-6017
Company Name: Mercantile Bank Attn: Alice Doherty
Contact Name: Alice Doherty
Phone: (616) 209-8671
Company Name: Northpointe Bank
Contact Name: Ryan Gummere
Phone: (616) 974-8416
Company Name: Lake Michigan Carpet and Duct Cleaning
Company Name: Locker Professional Cleaning Services
Contact Name: Joshua Locker Phone: (616) 490-7894
Company Name: Sweep LLC
Contact Name: Chris Randall Phone: (231) 329-4641
Credit Reporting Services
Company Name: Grand Slam Investigations
Contact Name: DJ Newman Phone: (231) 359-1555
Education and Coaching
Company Name: Annen Property Management LLC
Contact Name: Jeremy Annen Phone: (616) 204-3710
Company Name: The CEO Host
Contact Name: Kate Stoermer
Phone: (734) 276-0800
Website: theceohost.com
Financing
Company Name: Benchmark Capital Management LLC
Contact Name: Matthew Fox
Phone: (616) 735-9800
Website: ciqwindowshosting.com
Company Name: Boathouse Commercial Funding Group
Contact Name: Fred SaintAmour
Phone: (269) 459-2530
Website: boathousecfg.com
Company Name: United Bank of Michigan
Contact Name: Anna Miller
Phone: (616) 559-4511
Flooring Supplies
Company Name: Flooring America Supercenter
Contact Name: Alek Petrenko
Phone: (616) 222-1188
Company Name: Landlord's Supply LLC
Contact Name: Phillip Mol
Phone: (616) 292-2810
Foundation
Company Name: Foundation Specialist
Contact Name: Bryan Foster
Phone: (616) 335-0364
Website: foundationspecialistmi.com
Garage Doors
Company Name: ProLift Garage Doors
Contact Name: Kevin Dewald
Phone: (616) 443-8953 General Contractor
Company Name: AB1 Construction
Contact Name: Adam C Beckett
Phone: (616) 813-2453
Company Name: Branscombe Properties
Contact Name: George "Larry" Branscombe Phone: (616) 299-6846
Company Name: Eastown Construction
Contact Name: Jake Whelan
Phone: (616) 318-7931
Website: eastownconstruction.com
Company Name: Kurtis Building & Repair LLC
Contact Name: Kurtis DeSatterlee
Phone: (616) 490-8596
Government Agency
Company Name: City of Holland
Contact Name: Esther Fifelski
Phone: (616) 355-1322
Website: cityofholland.com
Company Name: Grand Rapids Housing Commission
Contact Name: Lindsey Reames
Phone: (616) 235-2664
Handyman
Company Name: Team Davis Painting
Maintenance and Repairs LLC
Contact Name: Fred Davis
Phone: (616) 888-0933
Hard Money Lender
Company Name: Anchor Loans
Contact Name: Celso Espejo
Phone: (310) 395-0010
Website: anchorloans.com
Company Name: Backflip
Contact Name: Mariah Schmidt
Phone: (406) 581-4031
Website: dobackflip.com
Company Name: Property Lenders, LLC
Contact Name: George Bailey
Phone: (616) 822-7662
Hardware Stores & Building Supplies
Company Name: Floor and Decor
Contact Name: Christin Kasperlik
Phone: (616) 498-4970
Company Name: Discount Home Improvement Inc
Contact Name: Wendy Carlson
Phone: (616) 451-3600
Website: discountmi.com
Company Name: Great Lakes Ace
Contact Name: Robert Farrell
Phone: (616) 451-0724
Website: greatlakesace.com
Home Improvement Services
Company Name: Renaissance Roofing and Exteriors
Contact Name: Shane Galbraith
Phone: (616) 617-3133
Website: renaissanceroof.com
Company Name: Roof Maxx of Ada
Contact Name: Nate Versluis
Phone: (616) 706-1398
Website: roofsaversmi.com
Insurance
Company Name: AIC Insurance
Contact Name: Mark Vickery
Phone: (616) 676-4000
Website: theaicgroup.com
Company Name: Noel Selewski Agency Inc
Contact Name: Noel Selewski
Phone: (313) 886-6857
Website: noelselewskiagency.com
Company Name: Shield Insurance Agency
Contact Name: Joe Peiffer
Phone: (616) 378-6131
Company Name: Vredevoogd-Brummel
Insurance
Contact Name: Joel Emerson
Phone: (616) 340-0642
Website: insurancewestmichigan.com
Investment Services
Company Name: RCB & Associates, LLC
Contact Name: Paul J Chad Jr Creasey
Phone: (616) 233-9050
Junk & Trash Hauling
Company Name: H&H Moving & Junk Removal
Contact Name: David Suh
Phone: (616) 216-1090
Company Name: Kamminga Junk Hauling and Lawn Care LLC
Contact Name: Eli Kamminga
Phone: (616) 914-0762
Lawn Care Services
Company Name: Jack's Lawn Service & Snowplowing
Contact Name: Bruce VanderVennen
Phone: (616) 698-8616
Company Name: Master's Mowing
Contact Name: Jared McLean
Phone: (616) 916-8109
Mortgage Broker
Company Name: J R Mortgage Services LLC
Contact Name: James Riley
Phone: (616) 292-4491
Company Name: My City Mortgage
Contact Name: James Eerdmans
Phone: (616) 726-5700
Online Travel Agency
Company Name: Vacasa
Contact Name: Nathan DePelsMaeker
Phone: (616) 307-2712
Website: vacasa.com
Painting Contractor
Company Name: Priority Painting LLC
Contact Name: David Buckley
Phone: (616) 893-7932
Pest Control & Extermination
Company Name: Empire Pest & Wildlife Control
Contact Name: Terry Perysian
Phone: (616) 796-8900
Website: empirepestcontrolmi.com
Company Name: Turf Badger
Contact Name: Zach Ensing
Phone: (616) 232-9856
Website: turfbadger.com
Plumber
Company Name: Bergsma Plumbing LLC
Contact Name: Joseph M Bergsma
Phone: (616) 813-5219
Website: bergsmaplumbing.com
Company Name: GR Metro Plumbing
Contact Name: Mark J VanderHyde
Phone: (616) 301-0999
Company Name: Kellermeier Plumbing
Contact Name: Scott Mostert
Phone: (616) 866-5134
Website: kellermeierplumbing.com
Company Name: Magnum Plumbing & Heating Inc
Contact Name: Dale Bonnema
Phone: (616) 477-2525
Website: magnumplumbingheating.com
Company Name: Trout Plumbing
Contact Name: Kyle Koepke
Phone: (616) 888-1546
Website: troutplumbingmi.com
Process Server
Company Name: Allen-Hope & Associates
Contact Name: Devin Hope
Phone: (810) 965-7392
Property Management
Company Name: Blue Sky Partners LLC
Contact Name: Steve McClure
Phone: (616) 291-3256
Company Name: BRG Management LLC
Contact Name: Mike Beckett
Phone: (616) 813-6662
Company Name: Edgerow Property Management
Contact Name: Jake Blakeney
Phone: (616) 240-2019
Website: edgerowpropertymanagement.com
Company Name: Lake Michigan Property Management
Contact Name: Ben Hoffman
Phone: (616) 741-0040
Website: lmpmc.com
Company Name: Land & Co
Contact Name: Hope Stephens
Phone: (616) 534-5792
Company Name: LeaseGR - Rental Property Consultants
Contact Name: Amanda Szabo
Phone: (616) 257-3997
Website: leasegr.com
Company Name: Real Property Management Neighbors
Contact Name: Mike Coleman
Phone: (616) 465-2378
Website: rpmneighbors.com
Company Name: Short South Management and Development
Contact Name: John Clark
Phone: (231) 638-0287
Property Management Software
Company Name: TurboTenant
Contact Name: Jonathan Forisha
Phone: (469) 387-2524
Website: turbotenant.com
Real Estate Consulting
Company Name: Veldkamp, Rachael
Contact Name: Rachael Veldkamp
Phone: (616) 648-0295
Real Estate Investors
Company Name: Lloyd Jones
Contact Name: Melanie Anderson
Phone: (214) 659-1839
Website: lloydjonesllc.com
Real Estate Services
Company Name: Baragar Realty
Contact Name: Michele Baragar
Phone: (616) 406-5963
Website: baragarrealty.com
Company Name: Carmen Veurink, Realtor
Contact Name: Carmen Veurink
Phone: (616) 822-7712
Website: homelakeshore.com
Company Name: Cripe, Mitch
Contact Name: Mitch Cripe
Phone: (616) 292-2637
Website: mitchcripe.com
Company Name: JADO Realty, LLC
Contact Name: Donna Dykstra
Phone: (616) 862-3074
Company Name: John Rice REALTOR
Berkshire Hathaway
Contact Name: John Rice
Phone: (616) 951-4663
Website: johnricerealtor.com
Company Name: Koetsier Properties LLC
Contact Name: Allison Koetsier
Phone: (616) 633-9445
Website: compass101.com
Company Name: Lake Michigan Realty Management
Contact Name: Javier Rodriguez
Phone: (616) 559-7979
Company Name: Paradise Properties USA, Inc
Contact Name: Gary Scheitler
Phone: (231) 331-4423
Website: paradisepropertiesusa.com
Company Name: Smallegan Team of Keller
Williams Grand Rapids North
Contact Name: Rachel Kokosenski
Phone: (616) 447-9100
Sign Design & Supply
Company Name: SignComp
Contact Name: Gordon Poliquin
Phone: (616) 784-0405
Website: signcomp.com
Short-Term Rental Property Management Services
Company Name: Mount
Contact Name: Madison Rifkin
Phone: (720) 308-5405
Website: rentmount.com
Title Services
Company Name: America's One Title
Contact Name: Dave Nichols
Phone: (616) 365-4100
Website: americasonetitle.com
Company Name: Nations Title Agency
Contact Name: Christopher VanWinkle
Phone: (269) 501-4207
Tree Services
Company Name: MV Tree LLC
Contact Name: Matt Velderman
Phone: (616) 430-9958
Company Name: 1,2, Tree LLC
Contact Name: Jacob Anderson
Phone: (616) 723-5295
Website: 12treeservice.com
Virtual Assistant
Company Name: 1lasteye llc
Contact Name: Melissa King CAP-OM
Phone: (844) 824-3571
Website: 1lasteye.com
Other
Company Name: Analytical Testing & Consulting Services Inc
Contact Name: Douglas Haase
Phone: (269) 664-6474
Website: hazardousmaterialsteam.com
Housing Market on Hold as Uncertainty Stalls Pending Home Sales
The housing market is experiencing a notable slowdown, with pending home sales taking a significant hit. Despite some favorable conditions, such as the lowest median
U.S. housing payment in five months, many prospective homebuyers are choosing to wait before making a purchase.
As reported by Dana Anderson on Redfin , this hesitation is driven by several factors, including uncertainty surrounding new real estate rules, the ongoing fluctuation in mortgage
rates, and the looming presidential election.
Over the four weeks ending August 25, pending home sales dropped by 6.9%, marking the steepest annual decline in nearly a year. This dip is surprising, given that the median monthly housing payment in the U.S. has decreased to its lowest point since February, largely due to a reduction in weekly average mortgage rates. Yet, the anticipated boost in home sales has not materialized, as potential buyers remain cautious.
One of the key reasons for this hesitation is the recent National Association of Realtors (NAR) settlement, which has introduced new rules on how agents, buyers, and sellers negotiate agent fees. These changes, effective since August 17, have left many
buyers and sellers in a state of uncertainty. Some potential buyers have been misled by agents who claim that the new rules require an exclusive buyer representation agreement just to tour a home. This confusion is causing some to delay their homebuying plans, preferring to wait until the impact of these rules becomes clearer.
Adding to this uncertainty is the current state of home prices. Although monthly housing payments are declining, the actual home-sale prices are only slightly below the record highs seen in early July. This is partly due to a slowdown in inventory growth, with the total number of homes for sale posting its smallest yearover-year increase in five months. Many buyers are hoping for a significant drop in home prices before they commit to a purchase.
Mortgage rates are another critical factor in this waiting game. While rates have fallen, some homebuyers are holding out in hopes that the Federal Reserve’s expected interest rate cut in September will lead to even lower mortgage rates. However, it’s important to note that if mortgage rates do decrease significantly, it could spark increased competition in the market, potentially driving home prices up again.
The upcoming presidential election is also playing a role in this cautious approach. The political uncertainty surrounding the election has made some house hunters hesitant to make such a large financial commitment. They are waiting to see how the election’s outcome might affect economic, housing, and other policies that
could influence their decision to buy or move.
Despite this widespread caution, there are signs that some buyers are starting to re-enter the market. Mortgagepurchase applications have risen by 1% week over week on a seasonally adjusted basis, indicating that a portion of the buyer pool is beginning to come
off the sidelines. However, these applications are still down 9% compared to the same period last year, suggesting that many potential buyers remain hesitant.
Real estate professionals, like Fernanda Kriese from Redfin, believe that more buyers and sellers will jump into the market in the coming months
once there is more clarity on the new NAR rules and after the election results are known. As the market navigates these uncertainties, it remains to be seen how these factors will ultimately shape the landscape of real estate transactions in the near future.
Run comps and analyze opportunities whenever, wherever they come in.
Suite of AI-powered tools to help you make strategic investing decisions.
Fast, personalized loans to take your business to the next level.
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MEMBER-TO-MEMBER DISCOUNTS
Exclusive Discounts for RPOA Members from RPOA Members
1LASTEYE LLC 12% discount on monthly bookkeeping.
BERGSMA PLUMBING is offering a 15% discount to RPOA members.
BOATHOUSE COMMERCIAL
FUNDING GROUP offers a no-cost 10 page Property Valuation Report. This report is like Zillow on steroids. The report includes: House value, market rent value, sales and rental comparables, active listings, market analysis…everything you need to compare your property to others around you.
Peak Cycling Program: Join the movement, choose clean and cut costs for you and your tenants. Enroll in Consumers Energy’s AC Peak Cycling program to save energy and receive $25
for each rental unit where a device is installed. (Ex.: 100 units is $2,500 for you!) Tenants also receive $25 in addition to earning up to $32 in bill credits each year from June to September.
DISCOUNT HOME
IMPROVEMENT RPOA members receive 6% off your order.
FOUNDATION SPECIALIST is offering to waive inspection fees and give free estimates for RPOA members.
GREAT LAKES ACE 10% discount on all purchases. Some restrictions apply.
HD RECOVERY is offering free impound service for abandoned vehicles.
IPPEL BOOKKEEPING SOLUTIONS Ippel
Bookkeeping Solutions is offering a 10% discount off monthly services for RPOA members!
For Real Estate Investors, By Real Estate Investors. ippelbookkeeping.com
J R MORTGAGE SERVICES
LLC Free appraisals for 1 to 4 family unit homes with closed loan application for RPOA members only.
KABINET With a Kabinet Business Plan, add one property to your account and get the second property free for the 1st year (a $39.99 savings). Call RPOA office for code. Kabinet is a secure digital platform allowing you to keep track of your entire real estate portfolio in one place, anytime and anywhere.
KURTIS BUILDING & REPAIR
LLC Now offering 10% discount for new RPOA members.
LAKE MICHIGAN CLEANING RPOA members receive $20 off per vent.
LOCKER PROFESSIONAL
Members should call the RPOA office at 616-454-3385 to access these exclusive discounts.
CLEANING SERVICES offers full service deep cleaning, rental/vacation property cleaning, move-out real estate cleaning, movein full-service cleaning, commercial cleaning. RPOA members get $100 off deep clean discount or $50 off your first clean. Discounts available for long term contracts. Free estimates.
MICHIGAN SCREEN & WINDOW REPAIR 10% labor discount on replacement window packages for RPOA members.
PRIORITY PAINTING LLC offering a 7% discount to RPOA members.
RENTAL HERO Accounting software for rental property
owners. RPOA members get the first year for only $79 then pay only $7.95/month, billed annually at $95 after that. Free 30-day trial.
SIMPLIFYEM SimplifyEm is an easy-to-use property management software designed by real estate professionals. They are offering a 25% discount for a 1 year subscription and a 50% discount for a 3 year subscription.
SUTHERLAND LAW PLC Now offering $25 off hourly rate to new RPOA clients.
SWEEP LLC Sweep LLC is offering RPOA members a 10% discount off any order. Please call the RPOA office to access this discount.
SYMMETRY BOOKKEEPING
LLC Offering RPOA members a 15% discount on services.
VREDEVOOGD-BRUMMEL RISK MANAGEMENT & INSURANCE Independent insurance agency representing multiple insurance companies. Always providing home and auto insurance but specializing in rental and vacant property insurance. We do all the shopping for you and special RPOA member discounts are available.
More discounts available to RPOA members through the National Real Estate Investor Association (NREIA). Visit nationalreia.org to learn more!
“The promotion of offers, including discounts, rebates and other such benefits, goods, and services provided by the Rental Property Owners Association of Kent County (“RPOA”) members and advertisers within the Michigan Landlord magazine (collectively, the “Offers”), are for informational purposes only and are not an endorsement or recommendation. The Offers are not made by the RPOA or the Michigan Landlord magazine and the advertiser/member is solely responsible to you for the delivery of any goods or services. Your correspondence or business dealings with, or participation in the Offers or promotions of, advertisers/members found in the Michigan Landlord magazine, including payment and delivery of related goods or services, and any other terms, conditions, warranties or representations associated with such dealings, are solely between you and such advertiser/member. Neither the RPOA nor the Michigan Landlord magazine guarantees the existence or continued existence of any Offers, which may change from time to time. You agree to waive and release the RPOA and the Michigan Landlord magazine from and against any and all liability, loss or damage of any sort, incurred as the result of any such dealings with, or as the result of the presence of, any advertisement or promotion within the Michigan Landlord magazine.”
1459 MICHIGAN STREET NE, GRAND RAPIDS, MI 49503 PHONE: 616.454.3385 EMAIL: CONTACTRPOA@RPOAONLINE.ORG
