Rental Agency Salt Lake City – If you’re like most people, you’ll start comparing Utah property management companies through research. When you do, you will find many of the same things – the same service, the same performance and the same promise.
We want to talk about what makes us different from other rental property management companies. Our mission is to have 100% satisfied customers – not bound by contracts they can’t cancel. With a competitive pricing structure, we’ll take the stress out of managing your rental property while putting more money in your pocket each month.
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Search Rentals We strive to provide only the highest quality homes for rent in Salt Lake City and the surrounding area.
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Whether you are looking for a single family home, townhome or condo, we will have one of our team dedicated to working with you to find the best home for your needs. Start your search today by viewing our current homes for rent or by inquiring for more information.
Perfect Vacancy Marketing We know what it takes to get tenants in. Your property & provide thorough marketing to find you the perfect tenant. on
Strict Rent Collection We understand that receiving your rent on time is critical to the success of your investment.
Tenant Screening Before we fill a vacancy, we screen every potential applicant to ensure that your property will be occupied by the right candidate.
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Premier Property Maintenance We contract with licensed and insured vendors to ensure that maintenance issues are resolved in a timely manner.
And more! Call us for more information and to discuss how we can meet your property management needs.
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Annual maintenance of rental properties often costs up to 1% of the property itself, if not more. This can eat into your profits, so you should know everything you need to stay up-to-date for that rental. So, what do you want to check each year and why? The following are the best tips we can give you, and suggest…
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Salt Lake City Midvale Sandy Centerville Draper South Jordan Park City Lehi Provo Bountiful Orem West Valley Murray Capitol Hill Spanish Fork Millcreek Ogden Syracuse Riverton Layton Cedar Hills Saratoga Springs Holladay American Fork Kearns Taylorsville Alpine Highland Cottonwood Heights North Salt Grove Rose Park P Jlea Herriman Eagle Mountain Farmington Clearfield ‘Hang in there,’ a Utah real estate agent said. What does it mean for buyers and sellers? Yes, home prices are down, but mortgage rates continue to rise. So, while a recession is unlikely, economists say, better times may still be years away.
(Chris Samuels | The Salt Lake Tribune) Homes for sale in Sandy in November. Economists are predicting the slowdown in Utah’s housing market will extend well into 2023, due to rising mortgage rates.
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It’s only two weeks into 2023, and Utah real estate agents are being told to look to 2024 for things to improve.
Hundreds of them let out a slow laugh Friday as the state’s top housing economist gave them advice after predicting multiple interest rate hikes, declining home sales and other bad signs this year.
Jim Wood of the University of Utah’s Kem C. Gardner Policy Institute told them as they gathered for their annual crystal ball viewing. “2024 will be better.”
Wood and other economists added: At the very least, the turnaround in the history of the housing market that began with the spread of COVID-19 and has created havoc with the state’s long-term housing shortage still has a few quarters to go, Wood and other economists added – at least.
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• Utah may not see a recession, even if the big job gains it enjoys slow.
• Home prices are down compared to their major period since 2020 – and almost a decade before that, for that matter – and they may continue to fall well into this year. But the continued collapse of the housing bubble is, in the words of Wood, “extremely unlikely.”
• Future mortgage rates? Estimates will vary from 5% to 9% by the end of 2023, with widespread sentiment in the 6.5% to 7.5% range. A day below 3% may be gone for a lifetime.
Home sales in Salt Lake City’s five boroughs will decline sharply in 2023 and across the country. Thailand, the forecasters agree. That’s sad news for many home buyers, real estate agents, mortgage and title brokers and home builders alike.
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But unlike during the Great Recession, employment in the state remains strong, and the current unemployment rate At 2.2%, it is the lowest in the whole country. Technology companies and Wall Street may be laying off workers, said Lawrence Yun, chief economist and senior vice president for research at the National Association of Realtors, but in Utah, “there is real job creation.”
The Salt Lake City Council said this week that November marked the 21st consecutive month the state’s unemployment rate fell below 3. %. Derek Miller, its president and CEO, said in a statement that Utah remains “a safe haven for businesses with good governance and smart policies in a slowing global economy.”
For housing, that means that homeowners did not lose their wages because they were in the housing crash at the end of 2007 to 2009. Today, Yun said, instead of the housing crisis that caused the economy 15 years ago, Utah and. The U.S. “had a housing shortage before COVID, and it got worse during the COVID real estate boom.”
The Beehive State, in particular, is struggling with a severe shortage of affordable homes for sale and rent, and housing is likely to be a top issue for the 2023 Utah Legislature, which holds its general session next Tuesday.
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Utah homebuilders, meanwhile, have pulled back significantly from the frenetic pace of housing starts and new developments of just a year ago. According to the state’s latest economic report, permits for single-family homes have falling 32% below what they had last year, the biggest drop since Since 2008.
However, Yun said, rents, which are still rising at historic levels in Utah, may begin to slow in 2023 due to the wave of newly built apartments.
We have a pandemic, stimulus spending, a blown up supply chain and a war in Ukraine that has caused inflation leading to rate hikes. 1,000 real estate agents gathered at the Grand America Hotel in Salt Lake City. . Many say the annual forecast sets an ominous tone for the coming year.
Gary Cannon, veteran broker and founder of Cannon & Company Real Estate Services in West Jordan, praised his fellow agents for their passion and resilience but joked that the era of no-challenge residential sales is over.
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“It’s good to see all these faces again,” Cannon said, “working after five or six years off.”
Home prices in Salt Lake County have fallen every month since May, after rising about 25% over the past year and nearly doubling over the past five years. The average sales price for single-family homes, condominiums, townhouses and duplexes combined in the county fell to $485,829 in December, from $565,600 in May, when the Federal Reserve began its attack on rising inflation.
So, it’s a good sign for those hoping to buy, but they’ve seen their future monthly payments all but double over the same period. Hardest to tap into that trend: younger, first-time buyers. Many potential sellers, at the same time, are clinging to the fundamentals of the house, happy with the recent price increase and wary of what is to come.
“They’re walking back and waiting for the dust to settle,” Wood said Friday. “We led the country in price increases, so it’s time for a breather.”
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When it comes to the prospect of tipping into recession, the current housing cycle presents a more nuanced picture than previous downturns. Utah’s many tourist attractions make it an affordable state destination. Less for those who escape from the bigger cities — and with strength.
