Vacancy rates have remained favorable to landlords for the past four months. June checked in at 3.8%, July 2.58%, August 2.45% and Sept 2.89% for our managed properties. These are historically low figures and should result in at least modest increases in rent from a year ago. In an even handed market we would expect to see a 5% vacancy rate. The combination of owner occupants coming back into the market, foreclosure activity dropping back to prerecession levels, and lack of new construction has resulted in higher rental occupancy levels. This is good news for higher occupancy rates, less collection issues, and rent increases in the Sacramento Region.
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