GEN-RENT the growing generation of 2 round renters!
I am seeing the trend grow considerably here in northern Idaho and eastern Washington. The trend of which I speak is a generation of 2nd round renters.
Just about everybody has rented a home or apartment at some time in their life. The typical progression for many is to get established ... family, job and home!
It is now evident more than ever that there is a growing generation of 2nd time renters. These are folks that have lost their homes to foreclosure or shortsale. They are accustomed to living in a home and a neighborhood and averse to returning to an apartment situation.
If it is not already being used I'd like to coin a phrase - GEN RENT ( a generation of renters).
Here is a news article on the market in Spokane WA Washington Rental Trends
Across the stateline in Idaho a 2% vacancy rate for rental properties is being reported Idaho 's Strong Rental Market
I advise a number of investors on the purchase of income properties.
The time is definitely right
- Low Home Prices
- Cheap Money
- An Available Supply of Homes
- A Strong Rental Market
If you do decide to get into the rental game, make sure that you use a strong agent. One that has a background in property management like myself.
And if you are an agent that wants to change your business through property management I have written a FREE white paper on managing a handful of properties to change your income ... check it out here