Rental Market Hot in the Desert: Nationwide Survey Agrees!
A strong rental market in the desert has brought investors flocking to the La Quinta Cove and other affordable neighborhoods. Multiple offers are the norm for homes under $150,000-- and the condition of the homes is secondary-- which is boosting the contractor business. Even with rental prices increasing, property managers are having an easier time with finding tenants. According to a recent survey by TransUnion, nearly 73 percent of managers said finding residents is not difficult compared to 67 percent last year.
Overall, managers reported they are doing better than the year before and are having an easier time attracting in residents despite the increase in prices.
The credit bureau’s June survey included 1,248 property managers across the U.S. who represented a range of property sizes.
Almost half (48 percent) of the managers surveyed reported rental price increases on the majority of their units since last year in June.
“Data throughout the last year has pointed to a healthier rental market, and our survey helps validate the current strength of the rental industry,” said Steve Roe, VP of TransUnion Rental Screening Solutions. “The rise in rental prices, coupled with a decrease in vacancy rates and the ability to attract new residents with less effort are all positive signs for the market and rental property managers.”
For the entire article and survey results follow this link: Rental Market Survey
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