What Floats A Renters Boat Isn’t Always What Floats A Landlords Boat.

Reblogger
Real Estate Agent with Exp Realty - Atlantic County

Here's a nice post that worth the read. Even the banks are now looking at today's renters as potential buyers for some time down the road. I strongly suggest some kind of drip system to keep in touch.

Original content by Gabrielle Kamahele Rhind

In the height of foreclosures and what seemed like almost everyone losing their homes, investors/landlords jumped on the wave – increasing the number of rental homes with low rent prices. As the demand for rentals increased – so did the rent prices – many landlords asked for higher rents and many more, raised their rents even higher.

Much of the US is still experiencing a rental upswing.  But the home ownership/housing market is starting to shift and also experiencing an upswing.

As the housing market improves, and rents rise, tenants will at some point start considering other alternatives – including home ownership.

If you are a landlord, have you prepared for the shift?   Are you banking on the bad economy, frustrated home buyers, tougher lending rules, etc., to keep your rental ships floating?

As a property manager, I think it’s important to stay on top of the current market conditions, but it’s also important to:

Stay in touch with your tenants about their current situation – can they afford your rent, are they considering buying a home, etc.

Don't define rental success just by the bottom line. If you want to be successful as a landlord, don’t be rent greedy. Find good tenants and keep rents affordable – that brings long term success.

Don’t bank on thethey lost their home – they won’t buy another home” attitude.  One “for sure” thing – if people think they can find something cheaper – they will.  If rents are high, it’s a matter of time before they look at owning again.

Buying or selling Tucson real estate, Mt Lemmon, Tucson bank-owned homes, Tucson rental homes, or Tucson lease option homes? Visit www.KGCPropertiesLLC.com!

                                     

This blog is written with my opinions and my opinions are presented with accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions.    Gabrielle Kamahele Rhind - 2011. If you want to reprint parts of this - just email me for my permission: TucsonsRealEstate@gmail.com.

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