Rental Market Update 1st Quarter 2010
by Robert A. Machado, CPM, MPM
In a previous blog I provided the link to our rent survey.
The rental market is recovering from a slow winter. At HomePointe we rented 68 properties in January which is 8 over our goal and 18 over our historic average.
Inventories of vacant single family home rentals have fallen which is a contributing factor to the stronger demand for what is now on the market.
The next phase should witness increasing rents, but it will probably be moderate due to he struggling economy. Vacancy rates have dipped below 5% at HomePointe.
The Sacramento Bee has reported that investors are purchasing 25% of bank real estate owned (REO) property. This is driving up sales prices at the low end, but will also add to the rental stock over time.
Robert Machado, CPM, MPM has twenty-seven years experience in managing residential and commercial properties and is with HomePointe Property Management, which serves the greater Sacramento area.
See Robert Machado’s feature, Showing Properties After Dark.
American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing.
Find out more at www.joinaaoa.org.
Find out more at www.joinaaoa.org.
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