I think 2009 will be a pivotal year for us in the property management business. Investors appear to be re-entering the market, vacancy inventories are up while rental prices remain somewhat flat. As we get into summer 2009, our hope is that rental inventories will shrink as the next wave of foreclosures hits and people are forced to rent for the next few years while rebuilding their credit.
As the inventory of available rental properties declines, rental prices will inevitably rise, attracting still more investors and stimulating the sales market. We may see some fluctuation as foreclosed homes are purchased and introduced into the rental market, but demand for rentals should begin to match or even outweigh supply.
No one has a crystal ball to say exactly when the tide will turn, but summer 2009 is looking quite promising. Hopefully our friends up on capital hill don't do anything to muck things up further that they already have, and we can all look back on 2009 as "the year we turned the corner".
Investors Choice Property Management (ICPM) manages 106 single-family units with the care and diligence our Landlord clients deserve, in a manner that has them referring their friends, co-workers and family members. With over 16 years professional property management experience, our business is 95% word-of-mouth referral, we do NO Sales, and pay among the highest referral fees in the industry for management accounts. Visit our website at www.investorschoicepm.com today for more details, and find out what we mean when we say:
“Experience Property Management the Way it Should Be.”
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