With the end of the school year fast approaching, the home rental market is hotter than ever in the Naperville area. There are students rushing to lock in housing for the upcoming school year.
Then too are the people that over leveraged and now find themselves out of their home. Thankfully, there are many rentals available.
Due to the fact that many builders are sitting on inventory homes that they had purchased when the market was hot there seems to be an adequate supply to meet this demand. Reasoning behind this odd climate are due to the slow down in building. Builders are not incurring risk by building spec homes, but rather waiting to pre-sell these homes so as to avoid unnecessary carrying costs. While they wait, they are renting out these inventory homes which makes for a robust rental market.
For rentals as well as sales, it's always best to refer to a real estate professional for representation. I received a call today from a lady that thought she could do it on her own, only to come to find that the lessor at the last minute had decided to rent to someone else after this lady had already given her notice to her exiting landlord. So now we're scrambling to find her shelter in a matter of days.
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