Rents Are Stable - Maybe Going A Lower - or is it the Slow Time of Year...?

We've Suddenly Noticed Have More Inventory - But Slow to Re-Rent.

It's been a great year so far with the rental market from our point of view up to this point.

With that said,  all of a sudden we've noticed that it's taking long to re-rent some units.   We've had to recommend lower rent prices to some owners or offer a "rental incentive" such as 1/2 off of the 1st month's rent to get more responses.

We think it's a combination of a few things that are affecting the rental market.

• Job insecurity and rumors of recession
• Higher expectations of renters - more amenities for the amount of rent they are paying
• The condition of the proposed rental - dated interior - lack of curb appeal
• Neighborhood Conditions - Poor Pride of Ownership in the area
• The Time of Year - October and beyond is a slower time for sure

In some cases it can be a combination of all of the above.

Our recommendation to our clients is to keep your property in great condition - never ignore the curb appeal - charge reasonable rents for the current market.    We all know the Residential "re-sale" market is shifting and this is affecting rentals as well.

If you are an investor/landlord looking for quality Property Management with Service 2nd to None then give us a look.

In the Mean Time...?

Make it a Great Day...!