ARTICLE
Seeing
Once a haven for growth, the Sun Belt now faces the permitting delays, regulatory hurdles, and rising costs long seen in California. See how these shifts are reshaping investor strategies and testing the region’s business-friendly edge. page 24
According to Yardi Matrix's July 2025 Student Housing Report, student housing preleasing reached 85.3% in June—160 basis points above the same time last year.
But while leasing is strong, rent growth is flattening. June’s average advertised rate was $909—just 1.3% higher year-over-year.
The average price per bed has risen to nearly $94,000, a 28% increase over the 2020–2024 average. College enrollment is expected to rise, but funding cuts and declining international enrollment may create uneven pressure across campuses.
For Michigan housing providers in college towns like Ann Arbor, Grand Rapids, and Kalamazoo, expect high demand—but be ready to compete on pricing and flexibility.pricing and flexibility.
The U.S. multifamily market posted modest gains in June, with advertised rents rising $3 to $1,749—up 0.9% year-over-year, according to Yardi Matrix. Chicago, Boston, and Columbus led rent growth, with steady performance also seen in Midwest markets like Michigan. Meanwhile, oversupplied markets like Austin and Phoenix declined.
Occupancy remained stable at 94.6%, but affordability remains strained. Half of renters spend more than 30% of income on housing, and 27% spend over half.
Build-to-rent units reached an average $2,201, with Chicago leading national rent growth in that segment as well.
The affordability gap in Michigan’s rental market continues to widen, with new data showing that housing costs are outpacing wages at an accelerating rate. A recent article from MLive, summarizing findings from the National Low Income Housing Coalition’s 2025 Out of Reach report, notes that Michigan renters now need to earn $24.46 an hour—more than double the state’s minimum wage—to afford a modest two-bedroom apartment. This places Michigan among the least affordable states in the Midwest, ahead of Indiana, Ohio, and Wisconsin, but still behind Illinois.
The report highlights a trend many housing providers and real estate investors have seen unfolding firsthand: consistent rent increases across the state, paired with stagnant wage growth and a growing shortage of affordable housing. These factors are converging in ways that challenge long-term investment stability, tenant retention, and local housing supply dynamics.
Michigan’s fair market rent for a two-bedroom unit rose to $1,272 in 2025—a 40% increase over five years. Counties like Washtenaw, Kent, and Livingston top the list of most expensive areas, with thirty-five
counties reporting the lowest affordability benchmark of $933. While this may seem like an opportunity for investors in high-demand counties, it also places pressure on residents with lower incomes and tightens the margin between market-rate rents and what renters can realistically afford.
The average renter in Michigan earns $18.98 per hour, still more than $5 short of what’s needed to afford that two-bedroom unit without exceeding the recommended 30% income-to-housing ratio. This wage gap—up from $2 just five years ago—affects a broad cross-section of the workforce, including workers in maintenance, hospitality, food service, healthcare support, and other essential industries.
an hour — what Michigan renters need to earn to afford a modest two-bedroom apartment, more than double the state’s minimum wage.
This wage gap presents both risks and responsibilities for housing providers. Rent collection challenges, increased tenant turnover, and rising maintenance costs intersect with growing public pressure to address housing insecurity. While federal programs like the Housing Choice Voucher program (Section 8) are intended to provide support, their reach is limited. In Michigan, the program’s waitlist has been closed for over a year, and the state faces a deficit of 185,000 affordable units for extremely lowincome households.
Adding to the complexity is the political uncertainty surrounding federal rental assistance. Proposed budget cuts and policy shifts—such as time limits and work requirements—could further restrict access to housing support. If enacted, these changes may push more households into instability, creating longterm impacts not just on renters, but also on the housing providers who serve them.
Understanding and adapting to these trends is essential in today’s market. For property owners and investors, that means tracking local economic indicators, staying engaged with housing policy, and approaching investment strategy with long-term resilience in mind.
This isn’t just a renter issue—it’s a systemic challenge that cuts across affordability, availability, and operational sustainability in Michigan’s rental market.
Allowing pets may not just be a feel-good move—it might be a sound business decision. According to a July 2025 analysis from Zillow, rental listings that welcome pets are typically leased eight days faster than those that don’t. With nearly 6 in 10 renters now owning a pet—up from 46% before the pandemic— housing providers who say yes to furry companions are likely to see higher demand and lower vacancy costs.
Today’s renters skew older and are more
likely to rent long term. Many of them are settling in with dogs, cats, or other small animals—and they’re making pet policies a central part of their housing decisions. Nearly half of all renters say they’ve passed on a unit simply because it wasn’t pet-friendly.
The data backs this up: Zillow found that listings allowing pets earned 9% more views, 12% more saves, and 11% more shares than their no-pets counterparts. In markets like New York City, the impact is even more
dramatic—pet-friendly units there rented 26 days faster on average. Other high-impact markets included Tampa (16 days), Columbus (12), Phoenix (11), and Austin (10).
Notably, Texas dominates the rankings for the most pet-friendly listings, with Austin (80%), Dallas (79%), and San Antonio (78%) leading the pack. At the other end, cities like Houston, Providence, Hartford, and San Jose have among the lowest shares of pet-welcoming listings—under 45%.
For Michigan housing providers, this trend is worth paying attention to. While local data isn’t broken out in the report, regional demand often mirrors national patterns. If your policies currently prohibit pets or are overly restrictive, it may be time to revisit them. Flexible pet policies— paired with reasonable deposits or pet rent—could improve leasing velocity, reduce marketing costs, and help you attract longer-term, higherquality renters.
Of course, every property is different. But in a market where renters have options and owners are watching days-on-market tick upward, a little policy change could go a long way.
A refresher on essential legal best practices for rental property owners and housing providers.
Now’s a smart time to review your rental criteria and application process. Ensure policies—especially around income, credit, and criminal history—are applied the same way to every applicant. Small oversights can create big legal risks, but a quick internal check can keep your practices in line with Fair Housing.
Leases, applications, and screening reports contain sensitive information. Digital files should be encrypted and password protected; hard copies should be securely locked. Mishandling resident data can lead to legal exposure, so treat it with the same care you’d give your own personal records.
This is not legal advice. Please consult a qualified attorney for guidance on your specific situation.
In a new statewide initiative, the Michigan Department of Labor and Economic Opportunity (LEO) and the Michigan Justice Fund have awarded $670,000 in pilot funding to increase access to housing for individuals with criminal records. The program takes direct aim at one of the most persistent barriers to housing stability:
the reluctance of many property owners to rent to justice-involved individuals, even those who qualify for vouchers or meet income standards.
The new Housing Access for Justice-Involved Individuals (HAJII) pilot is focused on two regional efforts—one in Washtenaw County, the other in Calhoun and St. Joseph Counties. Together, the
funded programs will offer education, landlord incentives, housing placement support, and ongoing follow-up services to reduce recidivism and expand housing options. Funding will support costs like first month’s rent, security deposits, emergency rental assistance, and signon bonuses for participating housing providers.
For housing providers, this pilot presents a notable shift: rather than placing all the burden of risk on the landlord, it shares responsibility across a community network that includes tenant education, service navigation, and financial support. It also includes 12 months of follow-up for both landlords and residents, aiming to create stability on both sides of the lease agreement.
Justice-involved residents—those who are returning to communities after incarceration or have criminal records—often face near-total exclusion from rental housing, even when legally protected under fair housing laws. With Michigan’s recidivism rate now at a historic low of 21%, state officials are hoping targeted housing support can reduce that figure even further.
In Washtenaw County, the Rising Hope for Housing program will expand its reach through the Ann Arbor Housing Development Corporation, offering peer mentorship and wraparound services to justice-involved individuals without housing choice vouchers. In Calhoun and
St. Joseph Counties, Neighborhoods Inc. of Battle Creek will focus on recruiting rural landlords and breaking down stigma with fair housing education and direct support.
The Michigan Poverty Task Force, which helped design the pilot, notes that housing is one of the most critical determinants of economic mobility for justice-involved individuals. By addressing housing access directly, the initiative supports both community safety and long-term economic growth.
For housing providers interested in participating, programs like these offer financial backing, education, and a more coordinated approach to a historically challenging population. For real estate investors focused on risk mitigation and long-term tenancy, it may be an opportunity worth exploring.
Learn more about the program and future opportunities to engage at the Michigan Poverty Task Force housing pilot webpage.
Members of the Rental Property Owners Association of Michigan (RPOAM) will head to Lansing this September for a rare opportunity to speak face-to-face with the lawmakers responsible for shaping Michigan’s housing policy.
The association’s annual Advocacy Day will take place Tuesday, October 21 , at the offices of Karoub Associates, just steps from the Capitol in Lansing. The event includes private meetings between RPOAM members and elected officials, followed by a working lunch with legislators and senior policy staff.
This is a members-only event designed to give real estate investors and housing providers a direct line to the decision-makers driving state housing legislation. From rental regulations to property taxes and
local zoning, members will have a chance to share their stories and advocate for practical, informed policy.
Advocacy has long been a core focus of RPOAM’s work to ensure that the voices of property owners and housing providers are heard at the state level.
“RPOAM is committed to making sure that the voices of property owners and housing providers are heard at the state level,” Farley said. “This event is one of the most impactful ways we do that. It’s about access, connection, and being part of the decision-making process.”
Advocacy Day underscores RPOAM’s leadership in state-level housing policy and reinforces its role as a trusted voice for Michigan’s rental property community.
RPOAM members who are interested in attending can visit the event page to learn more and RSVP.
Artificial intelligence has long been seen as a tool for automation and efficiency. But in property management, it’s increasingly being used to deepen—not replace—human relationships.
That was the message from panelists at Bisnow’s recent Property Management Summit in Dallas–Fort Worth. Leaders from across the industry shared how AI is enhancing everything from rent collection to resident engagement—and freeing up time for teams to focus on what matters most.
At Marigold Venture Partners, CEO Joe Zylka says AI is embedded in every part of their business. “If you’re not putting it into everything your property management company touches, you’re going to lose. Period.” For Marigold, AI streamlines operations and lets staff prioritize relationships.
That human-centered benefit isn’t just talk. J Street Property Services’ Sarah Turner says their AI has boosted leasing traffic—so much so that it’s even been sent flowers. But she cautioned that success hinges on internal buy-in. “If your team isn’t on board, it’ll cost you money and people.”
Other firms are raising the bar for personalized tech. At Stream Realty’s new development in Dallas, AI calls elevators and adjusts office temperatures before tenants arrive. At Weitzman, tools like Placer.ai help optimize retail tenant mix, while Bradford Companies uses data modeling to guide capital improvement strategy.
For many, cost remains the main hurdle. But leaders expect pricing to level out, making these tools more accessible to smaller operators over time.
Still, panelists emphasized that technology should support—not replace—the fundamentals. In Kerrville, Texas, J Street assisted local officials during a flood crisis. In West Dallas, Goldenrod staff invested time rebuilding trust in a community wary of new development. Strong portfolios, they agreed, are still built on relationships.
As July fades into August, rental property owners across Michigan find themselves in a decisive window. Whether you manage single-family units or large multifamily properties, this season isn’t just about wrapping up summer—it’s about locking in your property’s financial stability for the rest of the year. Late summer leasing efforts have always played a critical role, but in 2025, they're more important than ever.
Today’s retention rates are historically high, but also fragile. Acquisition has grown more competitive as available renter pools shrink. And market dynamics—from stubbornly high interest
rates to inflation-wary renters—have shifted the balance of power in unexpected ways.
Let’s dig into what real estate investors and housing providers should be doing right now to maximize occupancy, minimize turnover, and position themselves for a strong close to the year.
The summer months have long been the most active for move-outs and move-ins. For housing
providers in college towns like Grand Rapids, Ann Arbor, or Kalamazoo, this season can feel like controlled chaos—tenants leave en masse, units flip quickly, and new leases start within days. Even in markets not tied to academic schedules, summer remains a popular time for families to relocate.
By late July, most providers have completed the bulk of their turns or are still in the process of filling mid-summer vacancies. This is a moment to pause, regroup, and refocus. The peak season may be ending, but the decisions you make now will shape your bottom line through the end of the year.
Many leases that started last fall or winter are set to expire between September and December. These leases may have been signed at the height of interest rate anxiety or during a winter slowdown— meaning residents could now be reevaluating their living situation. Rather than wait until 30
days before expiration, now is the time to reach out. Ask residents about their plans. Offer renewal terms early. Create opportunities for longer-term leases if possible.
Every renewal you secure now saves you the hidden and not-so-hidden costs of turnover:
• Lost rent while the unit sits vacant
• Repair and refresh expenses, even for shortterm stays
• Marketing and leasing costs, including staff time and advertising
• Wintertime utilities and maintenance, which become the owner’s responsibility when units sit empty
Nationally, turnover costs range from $750 to
$1,800 per unit—and that’s assuming a relatively quick re-lease. In slow seasons, it can be higher. And that doesn’t account for the opportunity cost of a missed renewal.
In 2025, multifamily retention rates are trending higher than usual. According to BizNow, large REITs like Equity Residential and Camden Property Trust are reporting turnover rates under 35%—some even below 10%. Lower turnover means more stability, better forecasting, and less stress for property owners. It’s a model worth emulating.
Even as renters show signs of staying put, many are still browsing. According to CRE Daily, 23% of tenants haven’t yet decided whether to renew. That means acquisition efforts still matter—and they’re happening right now.
Renters comparing your unit with others want to see value. Are your listings clear, updated, and appealing? Have you refreshed your photos recently? Are you highlighting maintenance reliability, safety, and convenience—qualities residents now rank above high-tech amenities?
As newly delivered units enter the market,
especially in larger urban areas, incentives are ramping up. From gift cards to free rent, properties trying to fill new construction are sweetening the deal. You don’t have to match those offers, but you do need to be competitive.
Retention begins with relationship. Today’s renters expect clear, consistent communication— not just when something goes wrong. A simple summer check-in email or personalized renewal offer goes a long way.
Understanding resident needs is also key. Zego’s 2025 Resident Experience Report shows a major disconnect between what residents value (maintenance, safety, affordability) and what managers often focus on (tech upgrades, aesthetics). Bridging that gap is essential to keeping the residents you want.
If your retention strategy includes nothing more than a standard 30-day renewal notice, it’s time to evolve. Consider:
• Sending renewal offers 60–90 days in advance
• Offering flexible lease terms (6, 9, 12 months)
• Including a personal note or incentive (gift card, rent discount)
• Following up with undecided residents to answer questions
Don’t assume the leasing season is over. Many renters are still looking—particularly:
• Students and university staff finalizing housing before classes begin
• Families delaying moves until just before the school year
• Professionals relocating for new jobs in late summer
• Renters who lost out on other units earlier in the season
These prospects are often decisive. They know what they want, they need to move soon, and they’re ready to sign. Making sure your listings are visible, your response time is fast, and your units are showing well is key to capturing these late movers.
If you still have openings, this is the time to act aggressively. Once Labor Day passes, leasing volume tends to drop sharply. The renter pool shrinks, and days on market increase. To improve your odds:
• Revisit pricing and consider limited-time promotions
• Offer flexible lease start dates or term lengths
• Emphasize features that reduce winter maintenance or energy costs
• Make sure online listings are optimized for mobile search
The goal is not just to fill units—but to fill them before fall.
This is the tail end of peak inquiry volume. If your team or system is slow to respond to leads, you’re leaving money on the table.
• Are calls and emails being answered within 24 hours?
• Are you offering virtual tours or easy online applications?
• Is your follow-up consistent and professional?
Renters today expect immediate access, flexibility, and transparency. A lead that goes cold might not return.
Turnover isn’t just inconvenient—it’s expensive. For every month a unit sits empty, you’re not just losing rent—you’re absorbing utilities, handling upkeep, and falling short of NOI goals. Even one extra vacancy in Q4 can disrupt an otherwise strong year.
Retention reduces those risks. So does closing leases now instead of rolling them into the fall. As interest rates and insurance costs remain high, every dollar of retained revenue matters.
In today’s climate, it’s not about choosing between retention or acquisition. The best operators are doing both—with urgency and intention.
The next few weeks offer an opportunity to lock in performance and protect year-end outcomes. Whether you're focused on keeping reliable residents or attracting new ones, the steps you take now will directly shape your revenue, workload, and vacancy risk heading into fall and winter.
Once known as an affordable escape from the high costs of coastal cities, the Sun Belt is no longer immune to the housing affordability crisis.
Over the past decade, home prices have surged in cities like Phoenix (134%), Miami (133%), Atlanta (129%), and Dallas (99%)—surpassing increases in New York, San Francisco, and Los Angeles, according to a June 2025 article by The Atlantic . The very regions that once served as America’s pressure-release valve are now approaching the same affordability ceiling.
For years, the housing narrative pointed fingers at liberal coastal cities with restrictive zoning codes and entrenched NIMBY (Not In My Backyard) attitudes. But the Sun Belt's sharp price climbs
suggest that these dynamics are now nationwide. Antigrowth sentiment, once seen as a blue-state phenomenon, has taken root in metro areas that prided themselves on prodevelopment reputations.
What’s driving this shift? As demand rises and sprawl becomes harder to sustain, many of these metros are discovering the same regulatory bottlenecks and local resistance that paralyzed development elsewhere. The story isn't just about housing— it’s about how economic growth, demographic change, and outdated land-use regulations intersect.
In the early 2000s, cities like Dallas, Phoenix, and Atlanta were producing housing at four times the rate of coastal metros. This surge in supply helped keep housing
relatively affordable. But recent research from urban economists Edward Glaeser and Joseph Gyourko shows that production has slowed dramatically—by more than half in many of these areas.
Despite surging post-COVID migration and continued population growth, the pace of building hasn’t kept up. Cities have begun reaching their limits for outward sprawl—due to natural boundaries, long commute times, or simple land exhaustion—forcing a pivot toward higher-density growth that many are unprepared or unwilling to make.
Why the slowdown? In part, the Sun Belt is facing the same constraints that hit coastal cities decades ago: layered zoning codes, entrenched neighborhood opposition, and outdated regulations that stifle new development. Analysts now compare Atlanta’s zoning
complexity to Los Angeles in the 1990s. Miami and Phoenix rank among the 10 most regulated housing markets in the U.S., according to Gyourko’s earlier research. Even modest attempts at densification—such as converting retail-zoned land to residential or reducing minimum lot sizes—often require lengthy approvals or face legal barriers. These rules, once minor obstacles,
now function as major barriers to supply.
This shift is cultural as well as legal. Glaeser and Gyourko link the slowdown in new housing to rising affluence and educational attainment.
In growing metros, higherincome, college-educated residents are increasingly
wielding their influence to oppose new development. Within cities, it's often the lower-density, wealthier neighborhoods that see the sharpest drop in new housing construction. These communities have the time, resources, and political savvy to resist zoning changes and development proposals—even those aimed at addressing affordability.
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Local opposition isn't just vocal—it's often legally empowered. In Texas, a 1927 law known as the “valid petition” rule allows just 20% of neighboring property owners to block a proposed zoning change. In San Antonio, this tactic recently stopped a fully subsidized 85-unit apartment project despite support from city officials.
Known among developers as the “tyrant’s veto,” this rule has been used to halt hospitals, Habitat for Humanity projects, and mixed-use developments. Its power lies not only in stopping projects but in chilling proposals altogether, as developers avoid areas where even minor opposition can derail years of planning.
Veteran builders across the Sun Belt are running into familiar walls: regulatory delays, public pushback, and mounting costs. One longtime Arizona developer told The Atlantic that what once took hours now takes years. After 43 years in the region, he’s moving operations to North Carolina.
It’s a trend with consequences. Fewer builders mean fewer homes. Smaller firms—often more willing to take on infill and affordable projects—are the first to leave. The result: slower construction, more concentrated development power, and rising prices.
If current trends continue, today’s Sun Belt metros could face tomorrow’s coastal-level crises. But it doesn’t have to
be that way. Cities like Raleigh, North Carolina, have proven that thoughtful zoning reform can drive construction and contain rent growth. Between 2021 and 2024, Raleigh saw a 60% jump in multifamily building and significantly slower rent increases.
Texas has also started responding, passing laws that limit the use of valid petitions, reduce minimum lot sizes, and open commercial zones to residential projects. These are steps in the right direction— but more will be needed to avoid the bottlenecks seen on the coasts.
Housing providers and investors must recognize that affordability isn’t just a function of market demand. It’s a question of whether the environment allows new housing to be built at all—and whether those with the power to say "no" will allow growth to move forward.
A rare show of bipartisan cooperation is emerging in Washington as lawmakers rally behind the ROAD to Housing Act of 2025, a comprehensive bill introduced by Republican Senator Tim Scott and Democratic Senator Elizabeth Warren. According to an article by Realtor.com, the bill aims to tackle the housing affordability crisis by boosting supply, reducing regulatory barriers, and improving oversight of federal housing programs.
The 315-page proposal is headed to markup in the Senate Banking Committee—the first bipartisan housing markup the committee has seen in over a decade. Both Scott and Warren emphasized the bill’s goal of increasing access to affordable housing nationwide and easing the financial burden of rising rents and home prices.
Among the most discussed sections of the bill is Section 203, which calls on HUD to create a voluntary "best practices" zoning framework that local governments could adopt to promote smarter, more flexible land-use policies. Though nonbinding, the framework could give pro-housing officials leverage to challenge restrictive local ordinances.
"Zoning laws are still set locally, but this gives supportive lawmakers a national model to point to,” said Realtor.com senior economist Joel Berner.
Sections 207 and 208 also propose streamlining environmental reviews at the federal level while empowering local and tribal governments to simplify their own processes. Supporters say this could help
accelerate project timelines and remove long-standing bureaucratic bottlenecks.
While many housing experts caution that the bill is unlikely to create dramatic change overnight, they view it as a meaningful shift in federal housing policy. “It’s no gamechanger,” said Moody’s Chief Economist Mark Zandi, “but policymakers are finally in the game.”
Advocacy groups including the National Housing Conference, Up for Growth, and the
National Association of Affordable Housing Lenders have endorsed the bill, calling it a much-needed first step in developing consistent, proactive housing policy at the federal level.
The effectiveness of the ROAD Act will still depend on how it is received—and implemented—by local governments. But with bipartisan backing and mounting public pressure, it could mark the beginning of a more coordinated effort to tackle housing affordability in America.
Anew Michigan law designed to incentivize affordable housing development is beginning to reshape communities across the state—but not without questions about its long-term impact and cost.
According to Bridge Michigan, the policy has enabled local governments to approve 14 projects totaling an estimated $84 million in tax captures, with the goal of creating 586 affordable units. But each unit is effectively costing taxpayers about $144,000 in forgone revenue.
How It Works
Passed in 2023, the law allows developers to receive local tax incentives in exchange for including housing units priced for middle-income earners—those making up to 120% of area median income. It works by letting developers “capture” the increased taxable value of a property after it’s developed, which offsets the cost of offering below-market units.
To date, projects have averaged about $6 million in tax incentives over 25 years. While the state has already approved 14 developments, another 40 are in the pipeline.
The law’s rollout is drawing scrutiny in affluent areas like East Grand Rapids, where developers hope to build a 149-unit complex in Gaslight Village, including 15 “attainable” apartments. Rent for a twobedroom unit could still top $2,800/month. Critics argue that’s far from affordable and question whether the trade-off is worth it for taxpayers.
“This is probably the most valuable piece of real estate in west Michigan right now,” said resident Jerry Anderson. Others, including local school officials, worry that diverted tax revenue will shortchange critical public services.
Supporters counter that these projects wouldn’t happen without the financial incentive. “We’re trying to put a lot of those decisions and negotiating points in the hands of the locals,” said Chad Benson of the Michigan State Housing Development Authority (MSHDA). Proponents say the program helps offset rising construction costs and offers flexibility to tailor developments to each community’s needs.
The program has attracted a range of developers—from large firms like CWD and Great Lakes Capital to small nonprofits and first-time investors. In Grand Rapids, the city has aggressively used the incentive to drive projects across the housing spectrum. Habitat for Humanity, for example, is using a $2 million tax capture to support a 27-unit condominium development.
Yet some experts say the results so far are just a dent in the state’s growing housing shortage. Ryan Kilpatrick of Housing Next called the progress “a little bit,” noting the program is helping Michigan keep pace with pre-pandemic building levels.
Whether the law delivers long-term results remains to be seen. Some local officials, like Middleville Village President Kevin Smith, say their initial skepticism has given way to cautious optimism. “Middleincome earners have to be able to afford to live somewhere and start their lives,” he said.
As East Grand Rapids and other communities weigh the benefits and costs of future projects, one thing is clear: the housing affordability challenge isn’t going away—and every unit added could help bridge the gap.
Fannie Mae and Freddie Mac will now begin considering cryptocurrency holdings as part of mortgage reserve requirements, according to a directive from the Federal Housing Finance Agency (FHFA) reported by U.S. News & World Report. The policy shift allows eligible digital assets—such as Bitcoin or Ethereum held on U.S.-regulated centralized exchanges—to count toward qualifying for single-family home loans. Borrowers will still need to convert crypto for down payments, but unconverted reserves can now be included in risk evaluations.
The change is seen as a step toward modernizing underwriting to reflect how many borrowers build and hold wealth. “It finally recognizes digital assets as legitimate wealth,” said Josip Rupena, CEO of Milo, noting that many first-time buyers have been forced to liquidate crypto just to qualify. However, most experts agree the practical impact will be modest—especially since many conforming-loan borrowers don’t hold significant crypto assets.
Lenders are expected to adopt the change cautiously, likely applying significant discounts to crypto valuations and requiring assets to be seasoned and verifiable. While the move broadens access for crypto-heavy borrowers—particularly high-net-worth individuals—it introduces new layers of volatility and operational complexity. Still, for some, it marks an important step in aligning the mortgage market with the digital economy.
On June 24, 2025, Rental Property Owners Association of Michigan (RPOAM) Executive Director Erika Farley testified before the Michigan Senate Housing Committee in opposition to several bills.
While the proposals aim to expand tenant protections, the coalition warns they would also impose sweeping new regulations and restrictions on rental housing providers—particularly small and midsized operators.
In addition to Erika’s testimony, a formal letter was submitted to the committee on behalf of five statewide housing organizations, including RPOAM. The letter urges lawmakers to consider the unintended consequences of these bills, which could discourage investment, reduce housing supply, and increase financial strain on those who provide rental housing.
“We believe policy should create pathways for more housing, not less,” the letter states. “We urge you to focus on policies that encourage housing creation and rehabilitation, enforce existing standards fairly, and avoid the unintended consequences of disincentivizing good-faith participation in the rental sector.”
The letter—signed by the Rental Property Owners Association of Michigan, Michigan Realtors®, Property Management Association of Michigan, Apartment Association of Michigan, and the Michigan Manufactured Housing Association—calls on legislators to support practical, balanced solutions that expand access to safe, stable housing across the state.
OCTOBER 21 | 1PM - 3PM
Meet face-to-face with lawmakers, share your concerns, and help shape housing policy in Michigan. This is a FREE, members-only event. Space is limited—RSVP required.
To RVSP, contact Heather VandenBos at 616-454-3385 or email heatherv@rpoaonline.org.
FORECLOSURES AND HUD
BUYING AND SELLING
AUGUST 11 | 1PM - 3PM
2 Hours CE Credit for Licensed Real Estate Professionals
Most buy and hold investors (even experienced ones) are shocked to find out all of the laws, ordinances, rules and guidelines regulating the residential rental industry. This class will cover the most relevant Federal, State and Local regulations that every landlord/buy and hold investor needs to know. An update on possible changes in state law regarding lead and other laws will also be covered.
Taught by Kevin Sutherland from Stuart Law, PLC.
AUGUST 11 | 6PM - 8PM
Curious about how syndication deals are structured—and what fees are involved?
This month’s networking meetup will cover the common fee models used in real estate syndication, including acquisition, asset management, and disposition fees. Gary Hall will walk through how these fees are structured, what sponsors typically earn, and how they impact investor returns. Come with questions, share your experiences, and connect with other housing providers and real estate investors.
AUGUST 14 | 1PM - 3PM
2 Hours CE Credit for Licensed Real Estate Professionals
Duane Culver, CPA and investor, discusses the insights and techniques needed to reduce and potentially eliminate real estate investment taxes.
AUGUST 18-20 | 9AM - 12PM EACH DAY
8 Hours CE Credit for Licensed Real Estate Professionals
A successful real estate investment starts with buying the right property and doing the right rehab for the right type of investment. Newbies and experienced investors alike want to know how the successful investor finds properties, evaluates potential ROI and determines what kind and to what extent rehabbing a property is necessary. There's a big difference between rehab jobs for buy and hold or flips. As they say, the devil is in the details.
This course won't be your typical overview. It will cover everything from A-Z and includes onsite visits to existing properties for real world estimation. When you're done with this course, you'll know everything you need to know to get started and do your first rehab for a rental or buy and flip.
Justin Workman, experienced investor and licensed builder, will be the instructor for this multi-day course.
AUGUST 21 | 12PM - 1PM
Join us to find out how you can receive free replacement doors and windows and free siding and more. If you own a rental property in Grand Rapids built before 1978, you may be eligible to receive up to $20,000 per unit from the City of Grand Rapids lead hazard control grant program. Making your rental property lead-safe through this program will not only include free repairs to your units, but also reduces your exposure to potential lawsuits for lead poisoning.
AUGUST 22 | 8AM - 4:30PM
Earn EPA RRP Renovator Certification
Offered through the City of Grand Rapids in partnership with a HUD grant, this EPAapproved course provides essential training for contractors, landlords, and property managers working on pre-1978 rental properties.
Renovation, repair, and painting (RRP) activities in homes or facilities that may contain leadbased paint can release hazardous lead dust— posing serious health risks to residents and workers, and creating legal liability for property owners and service providers.
This comprehensive course is led by a certified trainer and fulfills EPA requirements for RRP certification. Upon successful completion, participants will be certified to perform leadsafe renovation work in compliance with federal regulations.
SCREENING- HOW TO COMPARE DATA AND USE REPORTS
SEPTEMBER 18 | 12PM - 1PM
RPOAM Members Only
Collecting the right data to gain accurate insights is crucial to any screening process. As a rental housing provider, you know bad residents are costly, and regulations around credit reporting can be tricky. Learning about best practices can help you build preventative measures to protect your rental business.
Class will cover:
• What is and isn't included on credit reports
• Red Flags Rule
• Adverse Action Notices
RPOA membership offers valuable resources and discounts that can significantly enhance your real estate investments.
Exclusive Discounts: Save with member-exclusive discounts to local and national retailers, including a 2% rebate on purchases at Home Depot.
Educational Resources: RPOA offers classes and events that help you stay ahead of industry trends and improve your investment strategies.
Networking Opportunities: Connect with fellow investors and industry professionals at RPOA events to share insights and discover new opportunities.
Advocacy: Stay informed on legislative changes affecting property owners and investors, and support RPOA’s efforts to protect your interests.
Tools and Services: Utilize tenant screening services, lease agreements, and more to streamline your operations.
By fully leveraging your RPOA membership, you can maximize savings, stay informed, and grow your real estate portfolio with confidence.
Company Name: Culver CPA Group
Contact Name: Duane Culver
Phone: (616) 456-6464
Website: culvercpagroup.com
Company Name: Ippel Bookkeeping
Contact Name: Mason Ippel
Phone: (616) 337-4794
Website: ippelbookkeeping.com
Company Name: Stonehenge Consulting PLC
Contact Name: Keith Harris
Phone: (616) 891-1147
Website: stonehengeplc.com
Company Name: Premier Appraisal Service Inc
Contact Name: Kenneth Nicholson
Phone: (616) 452-4414
Website: premierappraisalservice.com
Remediation
Company Name: Analytical Testing & Consulting Services Inc
Contact Name: Douglas Haase
Phone: (269) 664-6474
Website: hazardousmaterialsteam.com
Company Name: NICA Labor Agency
Contact Name: Brayan Escalante
Phone: (231) 330-4971
Company Name: Express Property Tax Appeals
Contact Name: Stephen Polter
Phone: (248) 213-6800
Website: polterlaw.com
Company Name: Helmet Fox Law Group
Contact Name: Todd VanEck
Phone: (616) 552-6380
Company Name: Kathryn Johnson PLLC
Contact Name: Katie Johnson
Phone: (248) 444-3017
Website: katiejohnsonplc.com
Company Name: Kreis, Enderle, Hudgins & Borsos, P.C.
Contact Name: Daniel Boocher
Phone: (616) 254-8423
Company Name: Slot Law Group, PLLC
Contact Name: Sawyer Rozgowski
Phone: (616) 303-6168
Website: slotlaw.com
Company Name: Stout Law, PLLC
Contact Name: Matthew Stout
Phone: (616) 724-0346
Company Name: Varnum LLP
Contact Name: Randall Groendyk
Phone: (616) 336-6000
Website: varnumlaw.com
Company Name: Velo Law Office
Contact Name: Diane M Heidema
Phone: (616) 333-0707
Company Name: First National Bank of America
Contact Name: Michael McDowell
Phone: (616) 538-6017
Company Name: Northpointe Bank
Contact Name: Ryan Gummere
Phone: (616) 974-8416
Company Name: Lake Michigan Carpet and Duct Cleaning
Contact Name: Dudley Larson
Phone: (616) 240-0682
Company Name: Mia's Professional Maintenance Services
Contact Name: Maria Loyola
Phone: (616) 635-5090
Company Name: Premiere Granite & Stone
Contact Name: Jim Rausch
Phone: (616) 826-2311
Company Name: Bridge Firm Recovery
Contact Name: Dan Larson
Phone: (269) 359-0814
Company Name: Grand Slam Investigations
Contact Name: DJ Newman
Phone: (231) 359-1555
Company Name: Annen Property Management LLC
Contact Name: Jeremy Annen
Phone: (616) 204-3710
Company Name: Benchmark Capital Management LLC
Contact Name: Matthew Fox
Phone: (616) 735-9800
Website: ciqwindowshosting.com
Company Name: Boathouse Commercial Funding Group
Contact Name: Fred SaintAmour Phone: (269) 459-2530
Website: boathousecfg.com
Company Name: Safe Harbor Capital Funding
Contact Name: Keith Littlepage Phone: (616) 292-7964
Company Name: United Bank of Michigan
Contact Name: Anna Miller Phone: (616) 559-4511
Company Name: Landlord's Supply LLC
Contact Name: Phillip Mol
Phone: (616) 292-2810
Company Name: West Michigan Carpet & Floor
Contact Name: Caleb Griffis
Phone: (231) 873-5440
Foundation
Company Name: Foundation Specialist
Contact Name: Bryan Foster
Phone: (616) 335-0364
Website: foundationspecialistmi.com
Company Name: ProLift Garage Doors
Contact Name: Kevin Dewald
Phone: (616) 443-8953
General Contractor
Company Name: AB1 Construction
Contact Name: Adam C Beckett
Phone: (616) 813-2453
Company Name: Eastown Construction
Contact Name: Jake Whelan
Phone: (616) 318-7931
Website: eastownconstruction.com
Company Name: Kurtis Building & Repair LLC
Contact Name: Kurtis DeSatterlee
Phone: (616) 490-8596
Company Name: Signature Home Renovations
Contact Name: Paul Priest
Phone: (574) 315-6242 Government Agency
Company Name: Grand Rapids Housing Commission
Contact Name: Lindsey Reames Phone: (616) 235-2664
Management Pro Services
Contact Name: Aaron Schimm Phone: (231) 224-6422
Company Name: Team Davis Painting Maintenance and Repairs LLC
Contact Name: Fred Davis Phone: (616) 888-0933
Company Name: Backflip
Contact Name: Mariah Schmidt
Phone: (406) 581-4031
Website: dobackflip.com
Building & Contents
Special cause of loss (all risk), replacement cost (new for old).
$1M Commercial General Liability protection with increased limits available.
loss sustained business revenue coverage with no time limit.
Property Entrustment
When you hand your keys to a guest, standard policies exclude coverage for theft, vandalism and intentional damage to your property. Proper does not exclude these items.
Pet & Animal Liability
Guest’s dog bites your neighbor? Alligator at your beach home? Bear in your mountian cabin? Proper has no limitations on type of animal or pet breed.
Bed Bug & Flea Protection
No need to worry about unwanted critters in your home. Proper offers bed bug and flea liability, removal, and loss of business revenue as a result of infestation.
Squatter Protection
If you have a guest wo refuses to leave your property, Proper covers up to $5,000 in eviction costs and up to $10,000 in loss of business revenue.
Amenities Off-Premise
Many policies exclude coverage for bikes, boats, and golf carts or limit coverage to your property line. Proper covers liability for common amenities on or off your property.
Liquor Liability
Wheather you include a beverage gift for your guest or want to enure that alcohol left by guests doesn’t end up in the wrong hands when the next group arrives, we’ve got you covered.
Company Name: Boathouse Commercial
Funding Group
Contact Name: Fred SaintAmour
Phone: (269) 459-2530
Website: boathousecfg.com
Company Name: Property Lenders, LLC
Contact Name: George Bailey
Phone: (616) 822-7662
Company Name: Floor and Decor
Contact Name: Christin Kasperlik
Phone: (616) 498-4970
Company Name: Great Lakes Ace Hardware
Contact Name: Robert Farrell
Phone: (616) 451-0724
Website: greatlakesace.com
Company Name: Sherwin Williams Paint Co
Contact Name: Connor Shinouskis
Phone: (616) 690-5080
Company Name: Renaissance Roofing and Exteriors
Contact Name: Shane Galbraith
Phone: (616) 617-3133
Website: renaissanceroof.com
Company Name: Roof Maxx of Ada
Contact Name: Nate Versluis
Phone: (616) 706-1398
Website: roofsaversmi.com
Company Name: Noel Selewski Agency Inc
Contact Name: Noel Selewski
Phone: (313) 886-6857
Website: noelselewskiagency.com
Company Name: Shield Insurance Agency
Contact Name: Joe Peiffer
Phone: (616) 378-6131
Company Name: Vredevoogd-Brummel
Insurance
Contact Name: Joel Emerson
Phone: (616) 340-0642
Website: insurancewestmichigan.com
Company Name: Jack's Lawn Service & Snowplowing
Contact Name: Bruce VanderVennen
Phone: (616) 698-8616
Investment Services
Company Name: RCB & Associates, LLC
Contact Name: Paul J Chad Jr Creasey
Phone: (616) 233-9050
Company Name: H&H Moving & Junk Removal
Contact Name: David Suh
Phone: (616) 216-1090
Company Name: Kamminga Junk Hauling and Lawn Care LLC
Contact Name: Eli Kamminga
Phone: (616) 914-0762
Company Name: A.L.L. Laundry Service
Contact Name: Mike Kovalesky
Phone: (248) 744-6630
Website: lakesidelaundry.com
Company Name: KDS Outdoor Services
Contact Name: Kenneth Schoonbeck
Phone: (616) 826-9429
Company Name: Master's Mowing
Contact Name: Jared McLean
Phone: (616) 916-8109
Company Name: George's Lock and Key, LLC
Contact Name: George Noordhoek
Phone: (616) 320-6080
Website: georgeslockandkey.com
Company Name: MotivatedSellers.com
Contact Name: Joseph Tenenbaum
Phone: (305) 871-9548
Website: motivatedsellers.com
Company Name: Boathouse Commercial
Funding Group
Contact Name: Fred SaintAmour
Phone: (269) 459-2530
Website: boathousecfg.com
Company Name: J R Mortgage Services LLC
Contact Name: James Riley Phone: (616) 292-4491
Company Name: My City Mortgage
Contact Name: James Eerdmans Phone: (616) 726-5700
Company Name: Priority Painting LLC
Contact Name: David Buckley Phone: (616) 893-7932
Company Name: Empire Pest & Wildlife Control
Contact Name: Terry Perysian
Phone: (616) 796-8900
Website: empirepestcontrolmi.com
Company Name: Honorable Pest Control
Contact Name: Nickolas Russler
Phone: (734) 436-3017
Company Name: Pest Pros of Michigan, LLC
Contact Name: Maria Sorrentino
Phone: (269) 503-9860
Company Name: Bergsma Plumbing LLC
Contact Name: Joseph M Bergsma Phone: (616) 813-5219
Website: bergsmaplumbing.com
Company Name: Briggs & Son Plumbing LLC
Contact Name: Tom Briggs Phone: (269) 217-4276
Company Name: GR Metro Plumbing
Contact Name: Mark J VanderHyde Phone: (616) 301-0999
Company Name: Kellermeier Plumbing
Contact Name: Scott Mostert Phone: (616) 866-5134
Website: kellermeierplumbing.com
Company Name: Magnum Plumbing & Heating Inc
Contact Name: Dale Bonnema
Phone: (616) 477-2525
Website: magnumplumbingheating.com
Company Name: Access Property Management Group LLC
Contact Name: Eddie Beekman Phone: (616) 337-7929
Company Name: Blue Sky Partners LLC
Contact Name: Steve McClure
Phone: (616) 291-3256
Company Name: BRG Management LLC
Contact Name: Mike Beckett
Phone: (616) 813-6662
Company Name: Compass Property Management
Contact Name: Tom Harrold
Phone: (616) 855-5821
Company Name: County Line Townhomes LLC
Contact Name: Rebecca Mulder
Phone: (616) 893-2614
Company Name: GR Leasing
Contact Name: Mary Johnston
Phone: (517) 730-1296
Company Name: Greater Grand Rapids Property Management
Contact Name: Hannah Blackwell
Phone: (616) 206-0884
Company Name: Lake Michigan Property Management
Contact Name: Ben Hoffman
Phone: (616) 741-0040
Website: lmpmc.com
Company Name: Lakeside Real Estate Services
Contact Name: Nick Wyma
Phone: (616) 531-9343
Company Name: Land & Co
Contact Name: Hope Stephens
Phone: (616) 534-5792
Company Name: LeaseGR - Rental Property Consultants
Contact Name: Amanda Szabo Phone: (616) 257-3997
Website: leasegr.com
Company Name: Life Cycle Property Management
Contact Name: Peter Bruinsma
Phone: (616) 422-5276
Website: lifecyclepm.com
Company Name: Lighthouse Property Management LLC
Contact Name: Michaelan Hudson
Phone: (616) 257-9577
Company Name: Management Plus, Inc.
Contact Name: Gary Apps Phone: (269) 385-0009
Company Name: MC Property Management
Contact Name: Mark Arnoudse
Phone: (616) 364-9075
Company Name: Qwest Property Management, LLC
Contact Name: Kevin Wright Phone: (616) 954-5900
Website: qwestpm.com
Company Name: Real Property Management Neighbors
Contact Name: Mike Coleman
Phone: (616) 465-2378
Website: rpmneighbors.com
Company Name: Richter Company
Contact Name: Joe Long
Phone: (616) 323-1082
Company Name: Short South Management and Development
Contact Name: John Clark
Phone: (231) 638-0287
Company Name: Simple Property Management
Contact Name: Jon Smith
Phone: (616) 329-6318
Company Name: Tall Tree Realty & Property Management
Contact Name: Lewis Smalligan
Phone: (616) 634-0633
Company Name: United Properties of West MI
Contact Name: Tim VandenToorn
Phone: (616) 965-2300
Company Name: Westshore Property Management, LLC
Contact Name: Theresa VanWyck
Phone: (231) 798-6430
Company Name: XL Property Management
Contact Name: Tim Hoffer
Phone: (616) 262-1111
Property Management Software
Company Name: OwnerRez
Contact Name: Paul Hall
Phone: (714) 756-1783
Website: ownerrez.com
Company Name: Veldkamp, Rachael
Contact Name: Rachael Veldkamp
Phone: (616) 648-0295
Estate Services
Company Name: Allison Koetsier REALTOR
Compass Realty
Contact Name: Allison Koetsier
Phone: (616) 633-9445
Website: allisonkoetsier.com
Company Name: Baragar Realty
Contact Name: Michele Baragar
Phone: (616) 406-5963
Website: baragarrealty.com
Company Name: City Wide Real Estate
Contact Name: Tina Emert
Phone: (616) 292-2637
Company Name: Cripe, Mitch
Contact Name: Mitch Cripe
Phone: (616) 530-7920
Website: mitchcripe.com
Company Name: Frie Realty Investment Endeavors, LLC
Contact Name: Charity Frie Phone: (269) 491-8839
Company Name: JM Real Estate Capital
Contact Name: Rob Fishbein
Phone: (844) WeClose
Company Name: John Rice REALTOR
Berkshire Hathaway
Contact Name: John Rice
Phone: (616) 951-4663
Website: johnricerealtor.com
Company Name: Lake Michigan Realty Management
Contact Name: Javier Rodriguez
Phone: (616) 559-7979
Company Name: McDaniel, Betina
Contact Name: Betina McDaniel
Phone: (616) 437-5719
Company Name: REO Specialists LLC
Contact Name: Richard Stewart
Phone: (269) 345-7000
Website: richardstewart.com
Company Name: Smallegan Team of Keller
Williams Grand Rapids North
Contact Name: Rachel Kokosenski
Phone: (616) 447-9100
Website: smalleganrealestate.com
Company Name: SignComp
Contact Name: Gordon Poliquin
Phone: (616) 784-0405
Website: signcomp.com
Company Name: America's One Title
Contact Name: Dave Nichols
Phone: (616) 365-4100
Website: americasonetitle.com
Company Name: Hookin and Bookin
Contact Name: Jordan Morren
Phone: (616) 325-5751
Company Name: 1,2, Tree LLC
Contact Name: Jacob Anderson
Phone: (616) 723-5295
Website: 12treeservice.com
Company Name: GFL-Green For Life Environmental
Contact Name: Dan Fritsch
Phone: (616) 421-5309
Exclusive Discounts for RPOA Members from RPOA Members
BERGSMA PLUMBING
Offering a 15% discount to RPOA members.
BOATHOUSE COMMERCIAL
FUNDING GROUP Offers a no-cost 10 page Property Valuation Report. This report is like Zillow on steroids. The report includes: House value, market rent value, sales and rental comparables, active listings, market analysis…everything you need to compare your property to others around you.
ALLISON KOETSIER - COMPASS REALTY
Free 1 hour real estate consultation.
FOUNDATION SPECIALIST
Offering to waive inspection fees and give free estimates for RPOA members.
GREAT LAKES ACE 10% discount on all purchases. Some restrictions apply.
HOOKIN AND BOOKIN
Offering free impound service for abandoned vehicles.
IPPEL BOOKKEEPING
SOLUTIONS Offering a 10% discount off monthly services for RPOA members! For Real Estate Investors, By Real Estate Investors.
J R MORTGAGE SERVICES
LLC Free appraisals for 1 to 4 family unit homes with closed loan application for RPOA members only.
KURTIS BUILDING & REPAIR
LLC Now offering 10% discount for new RPOA members.
LAKE MICHIGAN CARPET AND DUCT CLEANING RPOA members receive $20 off per vent.
PRIORITY PAINTING LLC
Offering a 7% discount to RPOA members.
RENTAL HERO Accounting software for rental property owners. RPOA members get the first year for only $79 then pay only $7.95/month, billed annually at $95 after that. Free 30-day trial.
VREDEVOOGD-BRUMMEL RISK MANAGEMENT & INSURANCE Independent insurance agency representing multiple insurance companies. Always providing home and auto insurance but specializing in rental and vacant property insurance.
As a member of the Rental Property Owners Association, you have access to additional exclusive discounts through the National Real Estate Investor Association (NREIA). Explore the full list of savings at nationalreia.org
To take advantage of these member-only benefits, contact the RPOA office for access details.
Meet the team supporting real estate investors across Michigan.
Executive Board
Jeremy Garcia
President
Gary Hall
Vice President
Steve Whitteberry
Treasurer
Anna Miller
Secretary
Nick Wyma
Past-President
Board Members
Steve Ammon
Eddie Beekman
Joel Emerson
Bert Heyboer
Mason Ippel
Rachel Kokosenski
Jon Smith
Dan Sundberg
Tim VandenToorn
Dan Wisinski
Erika Farley
Executive Director
Heather VandenBos
Senior Administrator
Kristina Kyle
Marketing Manager
Magazine Editor
The Rental Property Owners Association is Michigan’s largest real estate investor association. Since 1968, we’ve helped rental property owners succeed through advocacy, education, networking, and support.
