Utah Rent Notice Bill Fails Again

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> Mortgage Rates as of 2/5/2025

Property Management

 > Create a Pet-Friendly Policy with Clear Guidelines

With many renters owning pets, offering a pet-friendly policy can give your property a competitive edge. To protect your investment, establish clear rules from the start. Outline acceptable pet types, any breed or size restrictions, and require a pet deposit or monthly pet rent to cover potential extra wear and tear. Additionally, set expectations for pet behavior, such as leash rules and waste cleanup. This balanced approach attracts responsible pet owners while keeping your property well-maintained and ensuring a comfortable environment for all tenants.

Headlines & Insights

Featured Story

> Single Renters Face a Heavier Housing Burden

A recent Redfin survey reveals that nearly 70% of single, divorced, or separated people have difficulty affording housing payments, compared to just 52% of married couples. Without the advantage of shared incomes and tax benefits, many singles even skip meals or work extra gigs to make ends meet.

Main takeaways:

• Almost 70% of single and divorced individuals struggle with housing costs, while only about half of married people face the same challenge.

• Single renters in expensive cities like Washington, D.C. can pay nearly $12,000 more per year than those splitting costs with a partner, highlighting the extra financial strain.

• Lower household incomes among singles—about 63% earn under $50,000—contrast sharply with married couples, who benefit from two incomes and tax breaks; even in markets like Salt Lake City, UT, with a median rent of $1,299, the affordability gap remains a concern.

What this means for investors:
Investors could tap into the growing need for affordable, single-occupancy housing by developing smaller units, co-living spaces, or accessory dwelling units (ADUs). As singles face increased financial pressure, rental properties and innovative housing solutions in urban markets—including cities like Salt Lake City, Washington, D.C., and Los Angeles—offer promising opportunities for stable returns.

More News & Reports

Utah

Utah Lawmakers Target Big Investors – Two bills aim to curb institutional investors from outbidding local families, with proposals to delay investor purchases and prioritize owner-occupants. Representatives Gay Lynn Bennion and Tyler Clancy seek to level the playing field as rising investor activity drives up home prices and limits homeownership opportunities for Utahns.

Salt Lake City Ranks Among Most Affordable for Renters – A new Redfin report lists Salt Lake City as one of the most affordable U.S. rental markets, alongside Austin, Houston, and Dallas. While city officials acknowledge rental affordability, they warn that high home prices are keeping many from buying, sustaining demand for rentals amid a housing crisis.

Utah Rent Notice Bill Fails Again – A proposal requiring 60 days’ notice for rent increases failed in a 6-6 House committee vote, marking its third consecutive defeat. Supporters argued it would help renters plan, but opponents, including the Rental Housing Association of Utah, said it disrupted the existing landlord-tenant balance.

National

Multifamily Investors Adapt to Higher Rates – With the Fed keeping rates steady, investors are shifting strategies, accepting a prolonged higher-rate environment. Many plan to be more aggressive in 2025, selling underperforming assets and deploying capital into higher-growth opportunities, signaling renewed confidence in the multifamily sector.

Tariffs, Immigration, and Housing Policy in Focus – At the NMHC Apartment Strategies Conference, experts discussed how Trump's new tariffs and immigration policies could disrupt multifamily construction. Panelists also debated potential privatization of Fannie Mae and Freddie Mac, along with tax policy shifts that could impact affordable housing incentives.

Top Cities for Short-Term Rentals – Peoria, IL, and Fairbanks, AK, top the list of the best markets for short-term rental (STR) investments in 2025. Rising occupancy and daily rates are expected to offset higher property costs, with strong demand in small and mid-sized cities like Akron, Columbus, and Page, AZ, signaling continued growth opportunities for investors.

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