Belong Co-Founders

GM of San Diego

Head of People

Co-founder & CEO

Discover 3 ways to reduce rental vacancies and how Belong finds residents 66% faster than average.

3 Ways To Reduce Rental Property Vacancies

Long-term rental home vacancies can be a costly problem for homeowners and property investors. A vacant rental means lost income, and often homeowners are unsure why they are unable to find great residents for their home. In this article, we will explore three practical strategies for minimizing long-term rental home vacancies and maximizing your rental income.

Happy residents are more likely to renew their leases, which can help reduce vacancies. If you’re self-managing a rental property, their experience will be entirely up to how you respond to them and how you deal with any issues that arise. To keep your residents happy and ensure they feel at home, you’ll need to have solid communication skills and be contactable at all times to respond to resident’s needs and concerns. 

If you have the help of a property manager, make sure they have measures in place for residents to get in touch with them easily and that you approve decisions quickly to keep the home habitable and well-maintained. 

Great residents offer security with predictable income and cost you less in the long run by reporting maintenance issues on time and not creating headaches or damage to your property. If you have great residents in place, you may want to consider offering a multi-year lease or an incentive for renewing their lease to encourage them to stay. 

For example, homeowners that work with Belong can take advantage of a unique incentive for renewals, because Belong allows residents to earn credits towards purchasing their own home for every on-time rental payment they make. It’s one of the many reasons why Belong residents are happy to stay put. Coupled with fantastic service and 24/7 concierge support, 71% of Belong residents renew their one-year leases. 

Rental homes are just as affected by supply and demand as any other part of our economy. Pricing your rental too high compared to similar, nearby rental options will cause residents to simply look elsewhere. But pricing strategically can be difficult, especially for newer rental home owners. 

It is important to research your rental market by looking at comparable rental properties in your area. Consider the size of the property, location, and amenities (in-home laundry, backyard, etc). If you’re having a hard time conducting market research, consider working directly with a partner like Belong. 

Belong homeowners enjoy access to our data-driven pricing analysis, and have a team of professionals to help them price their home for maximum profit, with minimal vacancies. Belong homes find the perfect residents within 19 days, on average. That’s 66% faster than average! 

Your home may still be vacant simply because renters don’t know it is available! This is the simplest yet most time-consuming part of the rental process. If you’d rather not go through the steps to market your home, consider working with a partner like Belong that does all of this (and lots more) on your behalf.

First, you’ll need to have excellent photos and even video of the home. Homes with professional photos are said to sell 50x faster than homes without, and this holds true for rentals as well. This is why Belong believes that professional photos and video tours of homes are essential to the rental process and are included at no extra cost to all Belong homeowners. 

Once you’ve taken excellent photos of your home, you’ll want to advertise effectively. Most people look to popular online platforms such as Zillow, Craigslist, and Rentals.com, so they are good places to start (and remember to check your inbox regularly for applicants and inquiries!). Social media, local publications, and even simple “For Rent” signs are also great ideas. 

If you list your home with Belong, you’ll automatically be featured on all the top sites with our direct integrations with places like Zillow and Zumper. This reduces vacancies because it means you'll get 30-50% more views for your home as well as a direct feed of applicants from these sites into the Belong system. This enables Belong to contact potential residents quickly and find the best applicant much faster than going it alone or using a traditional property management company.

It’s another way that Belong reduces vacancy times and costs for homeowners, attracting an average of 29 qualified applications for every home listed. 

With first class marketing, 24/7 support, and never-before-seen incentives for renters, Belong homeowners don’t stress about vacancies. 

Belong also keeps residents happier for longer, by ditching the outdated property management model, turning the rental experience into a world-class hospitality service for both you and your residents.  Our services currently extend to homes in the Bay Area, the LA area, Orange County, Seattle, Miami, Orlando, and Tampa (with many more to come!). See if your home is located in our network, here. 

Rental vacancies are expensive for landlords. Discover 3 ways to reduce rental vacancies and how Belong finds tenants 66% faster than the industry average.

If you think that just putting a “for rent” sign outside your home is enough to rent out your home, think again.

Get The Most Out of Your Rental Home

If you think that just putting a “for rent” sign outside your home is enough to rent out your home, think again. To successfully rent out your home you have to keep in mind things like screening possible tenants, contracts and other legal requirements, collecting rent, doing maintenance, and so many other little things that can come up along the way. 

That is why property managers are much needed. A reliable manager can take care of all the necessary operations at a rental property and can be a crucial asset to your success, from doing all the marketing for your rentals and finding trustworthy and high-quality tenants to dealing with maintenance issues and providing assistance with legal processes. During this article, we will talk about the benefits of hiring a property manager and why Belong is better. 

 A property management service usually has an established screening process that allows them to spot red flags and find tenants that most likely will pay their rent on time and create fewer problems. They also have all the required tools to run a credit and background check.  

Landlord-tenant laws and regulations are a huge thing to consider when renting out your property. If you rent your home without having a good understanding of how the legal part works, is always better to hire a property manager. They usually have a team of experts that knows all about the laws and regulations and know how to address any kind of legal situation. Some of the legal parts include evictions, inspections, terminating leases, security deposits, and rent and collections. The best part is: They also help with taxes! 

One of the main things homeowners expect when renting out a property is a monthly payment. And while there are a lot of people out there that is always on time with their payments, there are also a lot of people that are always late. This is where property management services are lifesavers. They act as an intermediary between homeowners and tenants, collecting rent and ensuring your cash gets to you. If someone is late, property management will be dealing with it so you don’t have to chase down rent or evict anyone.

Property damage is one of the things that worries homeowners the most, and for a good reason. Buying a house is a huge investment, and you want to keep it in great shape forever. When hiring a property management service, they are responsible for keeping the property in a safe condition. When hiring property management services, overall maintenance and repair costs are reduced. They will make sure to stay on top of regular maintenance to prevent bigger issues. This is possible due to preventative maintenance and periodic inspections.

If something happens to your home, a property management company has an established network of maintenance staff and contractors that deliver quality maintenance at the best price. Understanding of maintenance issues and their correct price. This saves you the hassle of finding reliable plumbers, electricians, carpenters, and so on. 

As you can see, managing your property without having the right set of skills can be difficult and time-consuming. When homeowners let a property managing company be the middle person, they end up with extra cash and extra time! 

So now that learned how important it is to properly manage your rental, let us tell you why is better to Belong.

Belong is the place where property owners and renters come to an understanding. 

No more landlords or tenants. We’re making renting magical for homeowners and residents.

Forget about having to deal with midnight emergencies, rental scams, and piles of paperwork and just Belong. 

The outlook isn't as gloomy as you may think.

Are We At Risk of Recession? What Happens To Landlords During a Recession?

As uncertainty continues about whether the US economy is in or headed for a recession, it’s understandable that homeowners in the rental market — mortgage holders in particular — are wondering what this means for their household. This article will take a look at the effects of a potential recession and risks to mortgages. 

The effects of a recession and risk to rental property owners

In the past, recessions such as the financial crisis of 2008 triggered a dramatic drop in house prices and people who couldn’t pay off their mortgages. So with a recession threat looming in 2022-2023, some are nervous about what this could mean for housing again.

Our real estate experts have noted that the market looks different today than it did back in 2008. There’s been a shift in supply/demand and more homeowners have had an opportunity to build equity in their homes off the back of historically low interest rates. This has made the market less fragile and many areas have even held quite strong despite rising interest rates. 

Recessions are unpredictable and don’t always mean a drop in housing prices or even rise in mortgage default. What we have seen however, for years now, is that would-be homeowners are taking longer to get into the market and now their borrowing power has been dampened further by the rising cost of mortgages. It’s also considered risky to get a mortgage during a recession, which could see many potential home buyers stay in the rental market longer to see what happens. 

These factors have all contributed to the heat in the rental market, where competition and prices for single-family homes has continued to intensify. For rental property owners, this means that providing you can comfortably make your mortgage repayments and stay on top of any debt, owning a home on the rental market can still be profitable and deliver passive income. 

If you’re having an issue with the repayments for your mortgage or your rental property isn’t bringing in enough income to assist your finances, it’s time to assess your financial situation. Lowering costs or increasing the value of your home could be the smartest decision long-term, rather than selling if there is a downturn in home values. This gives you the option to build equity in the home and receive rental income while waiting for the market to grow again.

Belong can assist homeowners by providing a world-class home management service without the extra charges you might be paying a property management company. We also offer innovative financial solutions such as Split It, which allow you to stay cash flow positive and spread out the costs of things such as repairs, maintenance and even investment-boosting renovations. 

Learn more about how Belong is making renting lovable here. 

Is a recession good for home buyers and real estate investors?

If you’re considering acquiring a home during a recession to take advantage of lowering house prices, it’s worth taking a close look at your finances and employment situation to be prepared before taking on the risk of a new mortgage. There are also current issues of high inflation and rising interest rates that could be a bigger risk to mortgages than the recession itself.  

At a recent webinar on the housing market, our resident Asset Manager, Jon Martin from JDM Asset Management, was asked to weigh in on the topic of acquiring a home with interest rates on the rise. 

“At higher interest rates, fewer prospective homebuyers will qualify for mortgages (or at a lesser dollar amount) and will instead choose to keep renting. Rising rental demand will further push rents up – we’re actually already seeing that, with median nationwide rent passing $2,000 for the first time ever in May 2022,” explains Jon. 

If you are looking at acquiring a property for rent, Jon notes that now is a good time to keep a watchful eye for opportunities and price-drops in your desired neighborhoods, as less competition provides some welcome relief to house hunters. 

“While you’ll have to factor in a higher cost of capital when analyzing your next opportunity, the recent upward pressures on rents and the likelihood of locating an attractive single family rental are creating a more attractive market for acquisitions,” says Jon. 

“Another point to consider when looking to acquire a rental, for those sitting on cash, is a higher down payment than say the standard 20% to reduce your exposure to higher interest rates,” he adds. “This will only help when running the numbers to see if your rental income will cover your operating expenses and mortgage payments,” says Jon. 

Watch now: Catch the full webinar conversation here.

Should you pay off your mortgage before a recession?

During a recession and with the high rate of inflation, cash on hand becomes increasingly important. So while it’s a good idea to clear off high-interest debt such as credit cards or personal finance loans, you don’t want to pay off the mortgage entirely if it means draining all of your cash reserves.

Recessions can be brief, so a knee-jerk response may not be warranted or the best financial option for your situation, unless you have a minimal amount to pay down and are already in retirement. 

Recessions can increase the likelihood of redundancies and unemployment, so having cash reserves is likely to be more important than owning your home outright. This is because a fully-paid home won’t help your weekly budget if you get short on cash for essentials such as food and utilities. You will also need to consider long-term expenses such as college funds or retirement plans if they apply to your financial situation. 

Got more questions for Belong? Contact us 24/7

Whether you prefer email, online chat or a good ol’ fashioned phone call, we’re here to answer any questions you may have. Check out our homeowners page to get in touch or learn more about having your home loved by Belong.  

Is the US headed for recession and what is the risk to mortgages for landlords who own homes on the rental market? The outlook isn't as gloomy as you may think.

Highlights of what we've achieved together in 2022

2022 In Review: How You Have Helped Us Belong

Belong is building a network; connecting people who own much-loved homes with people who want a place to belong. Working together, we can put people first and change what it means to rent a home — creating lasting, positive impact on innumerable lives for decades to come. 

Redefining an entire industry is not a journey that can be made alone. So before we gear up for a busy 2023, we wanted to take a moment to share our milestones and achievements with you — our homeowners, residents, investors, and team members — to celebrate the year that was. Here are just a few of Belong’s defining moments of 2022.  

Our vision was supported with Series C funding 

First of all a huge thank you to everyone who believes in our vision to create authentic belonging experiences for homeowners and their residents. A special thanks to our financial supporters, who helped us secure $80M in Series C funding in May 202. All our major investors (Andreessen Horowitz (a16z), Battery Ventures, GGV Capital and Fifth Wall) doubled, tripled, or even quadrupled down on financial support for our dream — further fuelling our future growth and optimism for what we are creating. 

When homeowners join Belong, we make a real impact on the rental market. From finding lovable, long-term homes for those who need them to getting and keeping investment homes in the hands of real people, not corporations. This is why Belong’s proudest milestone by far was welcoming more than 2,000 homeowners (and counting) to our world-first residential network. 

Thank you to everyone who trusts us with their homes and for choosing to belong with us. We remain committed to providing an exceptional and personalized service to everyone in our network, which is reflected in the lovely things you’ve been saying about us! As we’ve grown, so have our glowing reviews on Google, rating us 4.8/5 stars. 

We put our services at your fingertips, 24/7

Belong takes the hard work out of managing or renting a home — and that got even easier with the launch of the Belong app for Apple and Android devices.

Rather than have a separate platform for homeowners and their residents, everyone uses the same, easy-to-use app to work with Belong. The app gives everyone 24/7 access to their concierge and a host of features at their fingertips — from paying rent and acquiring insurance to reviewing and approving repairs by our vetted network of over 10,000 professional contractors. 

Our shiny new app isn’t the only innovative way we’re flipping property management on its head. Learn more about the 6 new products we launched through the year. 

We said howdy to hundreds of new neighborhoods

On the heels of successful launches across California and Washington, we set our sights on the sunny weather and never-ending energy of Florida. In 2022, we opened our end-to-end home management services and beloved rental experience to the homeowners and residents in neighborhoods in Miami, Tampa and Orlando. 

Stay tuned, we have our sights set on adding 12 new states to our network soon, including Arizona, Colorado, Oregon and Texas. 

A big part of what Belong wants to achieve is a level playing field, where individuals have the opportunity to achieve financial freedom from investing in the housing market after years of unfair competition from major corporations. 

Thank you to everyone who has joined us so far. If you missed any of these sessions, you can catch up on the recordings: 

The Effects of Rising Interest Rates on the Housing Market

What Are The Best Cities To Buy Investment Home in This Economy & Why?

Know someone who needs their home loved by Belong? We have $1,000 that belongs in your pocket! To support those that are telling their friends and family about us, we launched a new referral program that offers $1,000 for eligible referrals. Learn more here.

Belong is here to make waves and our new approach to renting has been getting us a lot of attention in 2022. 

When Business Insider asked top VC investors to name the most promising consumer startups of 2022, Belong was honored to be #3 on this list for our work in disrupting the outdated property management model.

We also made the CB Insights’ Fintech 250: The most promising fintech companies of 2022, with recognition as one of top 15 businesses in the real estate and mortgage category. 

The best part is, we’re just getting started

2023 is going to be even bigger and brighter with plenty of more people-led, industry-disrupting services coming to Belong homeowners and residents. Thank you to everyone who is joining us on this incredible journey to changing the world of home management and renting forever. We're gearing up to launch even more cities and more services so watch this space!

For anyone not yet on our network, you can find out if your home is eligible for Belong here, or become a Belong resident by searching for available homes.

Belong is building a residential network that connects people who own homes with people who want a place to belong. Here's what we achieved together in 2022.

Belong

Ale, Owen & Tyler Founders

Brett Jaffe

Flora Fiorillo

Ale Resnik

Harrison Kelly

Ale, Owen & Tyler Founders

Brett Jaffe

Flora Fiorillo

Ale Resnik

Harrison Kelly