The up and down roller coaster of the real estate market continues into November. On average HomePointe rents 60 properties a month. As we prepare for the cold month of December we start to look back on the desolate homes left behind. My goal as a property manager is to rent a home within 30 days of vacancy. But through the beginning of this holiday season we have seen a slower renter market than prior months.
There are many factors that attribute to the slowing rental market including but not limited to, holiday season, weather, but most of all pricing. As I tell my owners, many times at this point in the the season we do not want to hold out for a high rent. We want to sign a 6 or 9 month lease at a lower price in order to get the property rented and collect income. If the price is significantly lower, at the end of their lease we can increase rent and get a better price.
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