Orange County Rent Values Are Coming Up
Landlords have been struggling with lower rents for some time and now there is evidence that rent valure are coming up again here in South Orange County.
The rents market is brisk in the area. We have a good inventory but they renters must act quickly because nothing is on the market long here in South Orange County. As the recession rolls along and people are becoming unemployed or under-employed they are moving out of the home ownership and into a renter position.
According to RealFacts and the Consumer Price Index Orange County has dropped 8.1 percent over the five quarters starting in late 2008.
The new condition is that the rental properties are filling up quickly and supply and demand is kicking in. RealFacts reported that apartment rents over the last seven to 9 months we are seeing an increase in rents.
One other reason that a lot more properties are now being filled is the relaxing of the rental standards by the landlords. With so many people with problems due to unemployment and or under-employment, short sales and/or foreclosures that the landlords have had to adjust and they have.