Rental Market Update – What Can Owners And Tenants Expect In January 2021?

With January 2021 fast approaching, most owners and tenants nationwide are looking forward to the new year wondering what’s going to come next.

In this article, we will provide you with a roundup of what owners and tenants can expect in 2021.

What’s Going To Affect Owners In 2021?

Now that the November elections have come and gone, it’s clear that January will bring a change to the Presidency in the United States, and Joe Biden will be our next President.

The big question is what changes can real estate owners expect when Biden’s Administration takes office?

Here’s what we know so far:

1031 Exchanges – During his campaign, Joe Biden went on record stating his intention to modify this program so that investors who earn over $400,000 per year would not be able to benefit from this program.

Even though 1031 Exchanges have been in existence since the 1920s, Biden’s team calculated that changing the rules would mean that it would bring in an estimated $775 billion over the next 10 years.

Tax Increases – As expected, another big change owners can expect under President Biden is tax increases on individuals earning more than $400,000 per year.

What Can Tenants Expect In 2021?

Eviction Ban – The number one issue on the minds of tenants in San Diego, Phoenix, and Arizona is evictions, as hundreds of thousands of renters across these states face the real threat of eviction.

In Arizona and Nevada, some evictions are already occurring, even though the CDC Eviction Ban is protecting certain renters until January 2021.

California’s eviction ban is in place until February 1st, 2021 but a tenant must be able to show proof of financial hardship and they will be required to pay 25% of their monthly rent.

In each state, landlords and tenants are being encouraged to negotiate, or come to mediation, to work out payment arrangements.

A good example of this can be seen in Nevada where the state has been encouraging landlords to negotiate with their tenants who are behind on their rent.

Unless a landlord forgives the bank rent, tenants are still required to pay up, and with roughly $1.7 billion owed in back rent across the country, it’s understandable that landlords are going to want to collect what’s owed them as soon as possible.

Rent Increases – 2020 has been a year marked by Covid-19, but despite what’s been happening, rent has increased in many areas.

San Diego – Rent has increased by 4% this year and the average rent for an apartment in SD is now $2,237 per month.

Phoenix – As more people have left rental property in California this year, for Arizona and Nevada, it’s not surprising that the average rent for an apartment in Phoenix has increased by 10% to $1,141 per month.

Las Vegas – Right now, you can rent an apartment in Vegas for $1,107 per month, a 4% year-over-year increase.

Contact GoldenWest Management

Are you thinking about hiring a new property manager?

Or are you considering hiring a property management company for the first time?

We offer property management services for Las Vegas, Phoenix, and Las Vegas that will save you the time, money, and hassle of property management.

To learn more about our ‘boutique style’ property management services, contact us today by calling (866) 545-5303 or connect with us online.

2021 Rental Housing Market Forecast

With the end of 2020 fast approaching, most owners, investors and renters are eager to start thinking about the possible changes that we might see in the 2021 rental market.

In this article, we’ll discuss the 2021 rental housing market and provide you with insight into some of the things that you can expect to see from the rental market in the year to come.


The big issue that is going to immediately affect both owners and tenants in 2021 is evictions. This concern has been unavoidable since the start of the pandemic as evictions have been continuously delayed into the future. By January 2021, the future will have arrived and landlords and tenants alike will have to handle evictions again.

Unless the federal government makes a big move to cancel evictions and foreclosures, we can expect to see evictions moving forward as normal by the first month of next year.

Outward Migration

After evictions, another big trend that we could see happening on a large scale in 2021 is outward migration. Outward migration is when large swathes of people leave a high-cost area in search of lower cost-of-living locations with more job opportunities.

While outward migration has been on property owners and managers’ radar for some time, the COVID pandemic has shed light additional light on the issue. As people’s routines and living situations are shaken up due to working-from-home or financial difficulties, they may be more inclined to seek new accommodations in cheaper areas.

Having more inward migration to relatively low-cost states such as Arizona and Nevada could mean that we may see rental property prices in cities like Phoenix and Las Vegas go up. As more people eagerly move to more affordable cities, the supply will dwindle. It’s likely this change to supply and demand will shake up the rental market.

Roommates May Become A Big Trend In 2021

Even though adults’ living together as roommates is by no means a new trend, co-habiting situations are looking to become increasingly popular in 2021. COVID-19 has dramatically changed the economic circumstances of many people across the United States, including renters.

As renters seek to lower their housing costs due to economic difficulties caused by COVID-19, we may see an increase of tenants across the United States embracing the roommate model.

More Rentals Will Go Contactless And Digital

More property management companies have used the pandemic as a reason to implement contactless and digital technologies for showing clients’ rental properties.

In 2021, it’s likely that more property management companies will be eager to implement advanced digital technologies, such as Rently self-showings. Services like Rently enable landlords to streamline the renting process while cutting down on the need for face-to-face contact, which can increase the number of rentals without also increasing the time spent on them.

At GoldenWest Management, we’ve been using the latest digital technologies to market and rent our client’s properties. This has also enabled us to do our part to slow spread of COVID-19 while responsibly renting out local properties to the most qualified tenants possible.

Contact GoldenWest Management

At GoldenWest Management, we specialize in full service, ‘boutique-style’ property management. This means we work hard to treat every customer like they are our only customer.

Our specialized approach to property management also guarantees that our team is going to be focused on helping our clients to see the highest return-on-investment from their rental properties possible.

To learn more about what you can expect from the rental market in 2021, or speak with us about our Property Management Services, contact us today by calling (866) 545-5303, or click here to connect with us through our website.

Arizona Eviction Moratorium Update

2020 has been a tough year for both landlords and tenants in Arizona because of COVID-19 and the subsequent Arizona eviction moratorium that has been active since March.

With the end of 2020 around the corner, many people are wondering what the latest information is on the eviction moratorium in Arizona, as well as what the rental market is going to look like once it’s finally allowed to expire?

Governor’s Ducey’s Eviction Moratorium Is Active Until 10/31

Governor Doug Ducey signed a 120-day eviction moratorium in late March to aid those affected by the COVID-19 pandemic. This eviction order was extended in July until October 31st, 2020.

In addition to Governor Ducey’s executive order (EO), the Center for Disease Control has issued a separate eviction moratorium. The CDC’s moratorium is supposed to protect tenants from eviction due to nonpayment through December 31st, 2020.

To qualify for the CDC’s eviction moratorium, tenants must not make more than $99,000 per year and sign a declaration stating that they are unable to make their rent payments due to a substantial loss of income. They must also pay at least 25% of their monthly rent each month.

It’s important to note both Governor Ducey’s and the CDC’s moratoriums both only protect evictions for those who meet the above criteria and would be evicted due to nonpayment. Evictions due to lease violations, damages, and causes other than nonpayment are all still valid.

Some landlords are challenging the eviction protections in place by taking their tenants to court in order to move forward with evicting them.

Some tenants are getting evicted for nonpayment if they are unable to complete the CDC declaration before the judgment is issued. In other cases, tenants are getting evicted if the landlord can prove that their tenant’s statement on the declaration was “materially inaccurate”.

What Can We Expect Until January 2021?

Governor Ducey’s eviction moratorium may likely be extended until January 2021, providing tenants with eviction protections through the end of the year.

The Governor likely doesn’t want to have mass rental evictions during the holidays. However, even with an extension to the moratorium, evictions will eventually have to be allowed to happen like normal.

Until the eviction moratoriums are ended permanently, we can expect to see more landlords challenge the Governor’s EO, along with the CDC eviction ban,

As of today, landlords, the Multi housing Association, and the Manufactured Housing Communities of Arizona are looking eager to overturn the Governor’s eviction moratorium. The general feeling is that the eviction moratorium is unconstitutional and violates an owner’s contracts with their renters.

In some cities, landlords are winning in the courts and evictions are increasing. This can be seen in Phoenix, where evictions jumped to 2,863 during September. This was an increase from 2,171 evictions in August and 1,768 evictions in July. (Source)

Most Landlords Expecting Foreclosure ‘Avalanche’

Even though evictions are climbing in Phoenix, many rental property owners have seen other Arizona courts decline to hear their eviction cases. Without being able to fill their properties with paying tenants, many landlords will struggle to make their mortgage payments. With little progress on evictions in Arizona, there is concern the state will see a foreclosure ‘avalanche’ in early 2021.

This foreclosure ‘avalanche’ could be damaging to the rental markets as a whole.

Contact GoldenWest Management

At GoldenWest Management, we manage rental properties in Arizona, Nevada, and California. This gives us a firsthand perspective on what’s happening in each of these rental markets.

Our company offers ‘boutique’ style property management. This means, regardless if we manage a large portfolio of investment properties or one rental property, each of our owner clients can count on us treating them like they are our only client.

To learn more about the property management services that we can offer you, contact us today by calling (866) 545-5303 or click here to connect with us online.

Arizona Rental Market Update- Statewide Eviction Ban Extended Until October 31st

The latest news affecting the Arizona Rental Market is that Governor Ducey’s eviction ban was recently extended on July 22nd to October 31st, 2020.

Governor Ducey’s move to extend the eviction ban continues his effort to help Arizonians avoid eviction if they lost their jobs due to Coronavirus or contracted the virus and are unable to work.

Most housing advocates applauded the Governor’s move since a large portion of the money from the Cares Act to help people pay their rents and mortgages hasn’t been dispersed yet but the big thing that’s not being talked about is how the eviction ban in Arizona is affecting landlords.

Sadly, landlords in Arizona are feeling the same financial strain of evictions just like landlords in California and other states because the money that landlords depend on to cover their mortgages, property taxes, utilities, and other essential expenses is no longer there.

Landlords are often classified as being “heartless” by some housing advocates but the truth is that rental housing is a business, and with income coming in that business cannot survive.

More Landlords Are Challenging The Eviction Ban In Arizona

As the eviction ban continues, more landlords across Arizona are stepping up to challenge it although their efforts are being defeated in the courts.

A Phoenix landlord recently sued the Governor claiming that the Arizona Eviction Moratorium was unconstitutional because it prevented them from evicting a family from their rental property that owed more than $4,000 in unpaid rent.

The landlord’s lawsuit was quickly rejected by a Superior Court judge in Maricopa County but, it’s likely this won’t be the last lawsuit against the eviction moratorium that we will see in the coming weeks.

Thankfully money may be on the way for tenants in the Arizona Rental Market as negotiations are underway between Republicans and Democrats to release another economic stimulus. This would most likely pay the same amount of $1,200 per adult as last time, but those negotiations are still in the early stages so it’s likely that we won’t see that money go out until late August or early September.

Contact GoldenWest Management

For the latest news affecting the Arizona rental market, or to speak with us about our property management services, contact us today by calling (866) 545-5303 or click here to connect with us online.

California Lawmakers Seek to Suspend Costa Hawkins

In the latest rental market news, lawmakers in California are seeking to pressure Governor Gavin Newsome to suspend Costa Hawkins, the 1995 Rental Housing Act.

How? There is currently a new bill on the November 2020 ballot called the Rental Affordability Act which seeks to expand rent control in California but the sponsors of this bill have stated that they will withdraw it “in the spirit of cooperation” if the Governor suspends Costa Hawkins.

Costa Hawkins Has Been Under Fire Since Day One

The latest attack on Costa Hawkins is nothing new in California considering that the law has literally been under fire since the day that it was passed back in 1995.

As recently as November 2018, a bill titled the Affordable Housing Act sought to suspend Costa Hawkins, but it was defeated by voters.

With COVID-19 leaving a major impact on California’s economy, and rental market, millions of people in the state are now unemployed so it’s easy to see why Costa Hawkins is in the sights of lawmakers.

There’s no doubt that the state faces hard choices since there potentially are millions of renters who won’t be able to pay their rents in the months ahead but is suspending Costa Hawkins the answer?

State-wide rent control was already passed into law last year when the Governor signed AB 1482, a law that caps limits rent increases at 5% per year plus inflation until January 2030, but most politicians in the state feel that California isn’t doing enough to protect renters.

As we get closer to November 2020, momentum will continue to build in support of the Rental Affordability Act and unless Governor Newsom suspends Costa Hawkins, we can expect this bill to be on the ballot for the November 2020 election.

What’s Next?

The best thing that voters in California can do is to educate themselves on the perils of pushing for more rent control in the state because eliminating Costa Hawkins, or passing the Rental Affordability Act, will only produce dire economic consequences in California that will last for years to come.

Even though the rental market in California needs massive change, the key to that change isn’t rent control.

What most people who support rent control measures don’t know is that rent control has a history of failure in every state that it’s been implemented.

Any time rent control is passed, supply always dries up and builders will not build more rental units because they are turned away by price controls.

California has a supply and demand problem that will not improve until more rentals are built state wide to meet the demand of renters.

Contact GoldenWest Management

To learn more about the property management services that we can offer you contact us today by calling (866) 545-5303, or click here to connect with us online.

California Rental Market News

There’s no doubt that California landlords have had a rough year in 2020 which started on January 1st when AB 1482, California’s “defacto” rent control bill was passed.

Following AB 1482, came Coronavirus, the deadly virus that’s impacted the entire world and has taken the lives of hundreds of thousands of people worldwide and shut down the California economy.

Sadly, COVID-19 has also been responsible for unprecedented unemployment in California and millions of renters across the state being unable to pay their rents.

With everything that’s happening due to the virus, you’d think that landlords have enough to deal with but, landlords have another issue on the horizon in the form of a new bill that’s been proposed, AB 828.

A row of new townhouses or condominiums.

What Is AB 828?

Proposed by Assemblyman Phil Ting, of San Francisco, if approved, AB 828 would force landlords in the State of California to reduce rents by 25%.

This bill has left every landlord in the state of California scratching their heads because of the obvious fact that AB 1482 already puts robust rent control measures in place so why do we need more legislation that’s only going to adversely impact landlords even more?

If it’s passed, AB 828 would force landlords to reduce rents by 25%, even if a tenant can’t show that they’ve had a financial hardship due to Coronavirus. This bill would also allow the courts to set rents and change agreements that are already in place.

What’s even worse is that under AB 828, nuisance tenants would also be protected by this bill and landlords would not have the ability to do things that they’ve done in the past like file unlawful detainer complaints.

How Can AB 828 Be Stopped?

Thankfully, as long as California is part of the United States, every person who lives in the state has the right to reach out to their elected representatives and have their voice heard.

To stop AB 828, landlords across the state are encouraged to reach out to their elected representatives as soon as possible and do their parts to stop this legislation from being passed.

Contact GoldenWest Management

To learn more about AB 828, or to speak with us about our property management services, contact us today at (866) 545-5303 or click here to connect with us online.

What Are Landlords and Tenants Supposed to Do About Rent?

In the last 30 days, coronavirus has been responsible for changing the economy and rental market across the United States because most people who were renting before coronavirus, and working steadily, are now laid off and may be unable to pay their rents.

This is a problem that every city in the United States is facing right now, especially in cities like Las Vegas that rely heavily on the tourism industry.

Even though landlords and tenants may face difficult times ahead, some solutions can be utilized to help them make it through the coming months.

We’re All in This Together

During a recent interview, HUD Chairman Dr. Ben Carson said that both landlords and tenants are going to have to work together to make it through the coming months as coronavirus has affected everyone in some way.

What does this mean? Tenants should contact their landlords immediately if they are unable to pay their rent and work out a payment plan so that they can pay the landlord some money now, while deferring the remaining balance on their rent over 12 months.

Every Situation Will Be Different

Every tenant’s situation is going to be unique following coronavirus, there may be some tenants who will be able to go back to work next month while others may not be able to work for another 6 months.

Landlords should be willing to work with their tenants to come up with the best solution for them that will help them to make it through the coming months.

What Should Owners Do with No Revenue Coming In?

Owners should contact their lenders immediately if they are unable to pay their April mortgage to see if they qualify for a forbearance, or they should pursue one of the other ways to build cash reserves that we mentioned in our previous blog post.

Many people are projecting that Coronavirus could last until June so every owner must take action now and be willing to work with their tenants while they focus on building cash reserves so they can survive the coming months.

Rental Market Projections for The Next 60-90 Days

At GoldenWest Management we project that 20% to 30% of tenants will not be able to pay all or a portion of their rent while there may be tenants who are unable to pay rent and will want to turn in their keys to their landlords.

April and May are going to be tough months for owners and tenants for sure, we hope that coronavirus will be gone by June and the economy will be back on track but that may not be the case if the virus lasts into the summer months.

We encourage both owners and tenants to stay on top of what’s happening by following our blog and other trustworthy news sources like local city news or information from organizations like the Department of Housing and Urban Development.

For questions about what’s happening in the rental market, or to speak with us about our property management services, contact us today by calling (866) 545-5303 or connect with us online.

March 2020 Rental And Sales Market Update

In a recent interview, Roy True, business manager of GoldenWest Management met with Brad Seaman of Keller Williams in San Diego, and Ryan Loeding with Keller Williams in Phoenix, over the internet, to discuss what’s happening with the rental market and what renters and owners can expect in the coming weeks.

Coronavirus and Its Impact on The Rental Market

As of March 30th, 2020, the economies in San Diego and Las Vegas have been severely impacted by coronavirus as “non-essential” industries have been shut down.

This means that the hospitality industry, restaurants, Gym’s, nightclubs, movie theaters, and other businesses are now closed and the result has been a dramatic increase in unemployment claims.

The situation is different in Phoenix where businesses have largely remained open during coronavirus thanks to “suggested restrictions”, but that could change as Governor Ducey is just now starting to take action and has ordered schools in the state to be closed until April 30th.

With more people unable to work due to coronavirus, most owners will likely start hearing that their tenants will be unable to pay their rents by April 1st and that number could increase dramatically by May when economic stimulus checks have come and gone, and the rent payment is due again.

Las Vegas has been hit the hardest economically from coronavirus because the city relies heavily on tourism and hospitality. Sadly, with most people being laid off, Vegas could likely see 20%-30% of renters report that they will be late or unable to pay their rent in the coming weeks.

What Should Owners Do?

Now that California and Nevada have statewide moratoriums on eviction, the big question is what should owners due when there’s no money coming in from rent to cover their mortgage and other bills?

Work with Your Tenants – Start contacting your tenants now to see if they will be able to pay their rents next month. If they are unable to pay rent, offer them a payment plan so that they can pay what they can pay now while paying the remaining balance on their rent over the course of one year.

Build Cash Reserves – If you don’t have cash reserves saved up now, it’s best to take action to start building your reserves by choosing options like a cash-out to refinance loan.

Your goal should be to have at least $3,500 in cash reserves per multifamily tenant and up to $5,000 in cash reserves for single-family tenants because this money will also help you to cover repairs on your properties when needed as well.

Consider Refinancing or HELOC – As recommended by Ryan, another option is to consider using is a home equity line of credit. Yes, the credit market is tightening but if you pull the cash out of the home equity line of credit and put it into savings, the bank can’t touch it.

Talk with Your Lender Before Things Get Bad – You should speak with your lender ASAP and find out if they have any options for you like a forbearance to keep your rental from foreclosure. Being proactive now and reaching out to your lender now will save you the hassle of having to wait to wait for them to call you back once they do start getting a lot of calls.

The fallout from coronavirus (COVID-19) is evolving because it’s affected each rental market differently so during this time it’s important to focus on getting your news from qualified sources, avoid fake news, and social media posts that promote hype.

Remember, we’re all in this together and until coronavirus is over it’s up to owners and tenants to work together to create an outcome that’s best for everyone.

Contact GoldenWest Management

For more information about what’s happening with the rental market in San Diego, Phoenix or Las Vegas, during coronavirus, or to speak with us about the property management services we can offer you, contact us today by calling (866) 545-5303 or click here.

Las Vegas Real Estate Rental Market Improves

Some new data recently came out about the Las Vegas real estate market.  According to MPF Research, an industry-leading market intelligence division of RealPage, Inc, real estate rental revenues for the apartment market grew 3.6% in Q4 of 2013.  Occupancy rates jumped to 92.6%, and rents were up 1.9%.  These weren’t fantastic numbers for a region that is still in recovery from the real estate market bust of the previous decade.  However, they are positive signs that the market is slowly inching back.



Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408