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Rentals in my neck of the woods, Saline, Michigan, are in HIGH demand

By Mark Druckmiller

Real Estate Agent with Real Estate One - Saline, Michigan

September 12, 2010 03:59 PM

I'm happy to say that I have over a dozen prospects/clients/interested persons that I'm working with that are desperately wanting a rental home in Saline. The PROBLEM is, though, that almost each and every one of them wants "a rental home in Saline for about $1000 a month". That is getting rarer and rarer by the day. As of today's date, the MLS shows only 3 houses for less than $2000, where as a couple of months ago, it was closer to 10.

My most current pending sale got a LOT of calls asking if it would be available as a rental, perhaps if it was the market for rent, it would probably go for about $1600, in my opinion. Rent?

Anything in the sub-$2000 range in this market appears to mostly 3-bedroom, one and a half bath, close to 1200 square feet and most likely a one-car garage. But many of those are concentrated in neighborhoods built in the mid-1960's and close to the center of town.

So it least it's one factor showing that Saline is very desirable, but the only people celebrating based on the above info are recently leasing landlords.

Condos? Yes, condo rentals have also been sucked out of the market. As of this moment, ONLY ONE condo is available for rent, in the low $2000's per month.

What to do? I've got clients on automated watch lists and the lists notify me as well every day. But I'm doing a bit of pounding the pavement and trying to work with FSBO's to try and help, but word travels fast in a small town. The owners of the rental homes going FSBO also know this is now a high-demand area as well.

What ELSE can I do? I'm mostly working with the clients that have a more urgent need (they need to move OUT of where they are now, like having their current lease elsewhere end soon) and showing them homes in different areas, including one this morning where I showed a couple a home in Dexter. It definitely was not their first choice, but as they see what the market is like, they get a little more open. However, I don't push it on everyone, I carefully weigh out what the clients want and need, and more and more, renting in Saline is turning into a "want" than a "need".

So in other words, finding a rental in this market and this area isn't as cut-and-dried as it was before. It just makes life interesting.