Monday, July 23, 2012

Zillow Updates Mobile Rental App Features

If your search for rentals is getting time consuming, and keeping you out of the beautiful Seattle sunshine we look forward to all year round, take your search on the go with a real estate mobile app! In April, Zillow launched their mobile rentals app for the Android, adding to the most popular real estate apps across all platforms.

Zillow Rentals was created to address the needs of users by organizing listings in an easily accessible way, from the right neighborhood, to the number of bedrooms, and baths. Now Zillow has expanded that list of features to include a pet policy search filter, a keyword search, and expanded list of amenities (such as on-site laundry, parking,  cable-ready, walk score, and more!). Searching for the perfect rental can be time consuming, and it appears mobile apps like Zillow are helping potential renters simplify their search on the go. For more information on the Zillow app updates, click here.

Friday, July 6, 2012

How is Your Cost of Rent Determined?

There are several factors that come into play when owners, landlords, and housing boards decide how much to rent a particular space for. In Seattle it can be assumed that since inventory is low, the cost of rent is rising and will continue to do so for the next few years. The Seattle Transit Blog has an interesting take on how your rental price is determined, and why that price was decided maybe even before your apartment was built!
According to Seattle Transit, construction costs, and debt accumulated are taken into consideration, as well as what the market will hold when determining the set rent. They suggest that the cost of rent is decided before the unit is finished being built. There is a supply and demand factor in the housing price decision. If inventory is low, rent is high, but if there is a surge in construction maybe the quality of housing will decrease and renters will wind up eating extra costs. Seattle Transit suggests that if all goes well in the construction process, and attracts prospective tenants, we should be seeing an increase in supply and lower costs in housing production. Read the full story to gain a better understand of all the bells and whistles that come into play when deciding that final rental rate. Understanding that there are many factors at hand and wrapping your head around what those factors are should open the flood gates for new ideas to cut costs for renters and builders alike.