I read an interesting article in the Wall Street Journal this morning about the current state of the rental market and the outlook over the next couple of years. Surprising to me, the rental market was down, at an 8% vacancy rate, across the nation. This was largely in part to would be renters moving in with family and young renters who are suffering the most from the high unemployment.
The recession halted credit for new construction in the rental market, therefore forecasters have a positive outlook on the rental demand as supply deceases over the next few years.
With all of this in mind, as a real estate agent, are your sellers open to renting their home versus selling? Single family homes are often the most difficult to determine market rent for due to the lack of public information. A great source for rental data is your local appraiser. If you don't already work with an appraiser in your area, seek him or her out and pick their brain for not only value related information, but rental and market data as well.
Have a great selling week!