Home > Blogs > New Tampa Property Management > New Tampa Property Management's (rentnewtampa) Blog

Who's Renting?

By New Tampa Property Management

Real Estate Broker/Owner with Rent New Tampa, Inc.

February 22, 2007 10:43 AM

I have been working with a lot of tenant prospects over the last couple of months. It is very important to note there are all sorts of "renters", as there sometimes seem to be as many reasons for renting as there are homes for rent. As a property manager in Tampa, I have come across these types of renters:

Moving to the area, want to rent before buying (and are real buyer candidates)
Moving to area and need to rent before buying (home under construction)
Moving to the area and need to rent (not necessarily potential buyers)
Sold their home locally and need to rent
Don't like their current home and want a better place to rent
Need a bigger rental unit
Just prefer renting
Forced to move (Landlord sold, condo conversion, etc.)
Students that need housing
Seperation / Divorce

There are others as well... please post a comment on any "type" of renter you have come across. I want to collect as much information on this topic in one place as possible. I personally feel there are far too many agents and loan officers out there that do not understand that there are many reasons, all legitimate, why people rent. Understanding these reasons will allow us to better serve investors and the people that still need a place to call home.

Comments(7)

Comment

Show All Comments

Sort:

Debbie Malone

Londeree's Real Estate & Property Management - Lynchburg, VA

From Lynchburg To The Lake (434) 546-0369

Hi Rob, we are in Central VA and have nine rental properties. The breakdown of tenants: 6 are renting because their credit is not at a place that they could buy (four will most likely never qualify), 2 are single engineers who don't want to own, 1 new transplant who is building a home.

Feb 22, 2007 11:15 PM

Anonymous

Kevin Hill

Hi Rob, Here in Indiana we have been attracting more high tech jobs. With this field has come a lot of contract type work. So we have a lot of people who are temporary transplants for six months to a year. Low credit scores would have to be another big reason for renting. Presently the investor I work with that are prospering the most are the investor's that work near Eli Lilly and rent to the contract employee's they bring in.

Feb 23, 2007 12:54 AM

Diane Rice

Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - Lansing, IL

SFR, SRES, CNC

Hi Rob: How about "moving before the sheriff comes?" They seem to call me looking for a place and hoping i will not check their background.

Feb 24, 2007 01:37 PM

David A. Podgursky PA

THE PODGURSKY GROUP @ Re/Max Direct - Boynton Beach, FL

THE PODGURSKY GROUP - Make the Right Move!

I used to do this... cross branded with a production builder when I was a realtor. cut my marketing costs in half - sent out 4 batches and sold two big houses!

Feb 24, 2007 02:33 PM

New Tampa Property Management

Rent New Tampa, Inc. - Tampa, FL

I realized in my haste I forgot to describe the situation of one of my current tenants... someone that sold their home to use the equity to clear all of their debts. In this instance, the tenants paid one years rent in advance in order to have an opportunity to get their life in order. While they were local sellers that needed to do this locally, I also placed a tenant in a home that moved into the area with this same situation.

Mar 19, 2007 11:43 PM

Good news in Florida - these new property tax fixes are beginning to consider the renters!

Mar 20, 2007 01:41 AM

Leslie Prest

We manage rentals in a small town in AZ. We get ALL kinds of prospective tenants, with all kinds of needs/wants and looking for all kinds of rentals. Our rentals range from $475 to $1350. We have tenants who can barely scrape up the rent, we have tenants who spend the money elsewhere and DON'T pay the rent, and we have tenants who pay $1200 a month for a house to "come up on weekends" while they are building a second home here. We have old mobile as rentals, and new site-built homes with garages, and everything in between.

Apr 13, 2007 06:32 AM

Who's Renting?

Comments(7)

New Tampa Property Management

Real Estate Resources

Recent Posts