Time to Shake Off the Holidays and Hit the Ground Running in 2009!

By
Property Manager with Investors Choice Property Management CAL BRE LIC# 01124954

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.”

Comments (7)

Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Hi Thomas

We can hit the ground running in 2009 and have the opportunity to lead the field.

Good luck and success

Lou Ludwig

Jan 03, 2009 04:37 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Thanks - as an investor w/ 10 rental units, I hope things get to stable pretty quickly!

Jan 03, 2009 04:51 AM
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

I think the "turn" will occur by August 2009.

Jan 03, 2009 05:04 AM
Jay Williams
Greenville, NC - Greenville, NC
Mortgage Loan Officer - Getting You The Right Loan

Thomas- I think the future for property management will be bright. More renters, more investors.

Good luck

Jay

Jan 03, 2009 06:04 AM
Karen Cooper
Karen Cooper | Sr Retail Loan Originator ! NMLS # 223305 | 360 Mortgage Group LLC Austin Texas - Leander, TX
Helping Homeowners w/Home Loans in 27 US States

Thomas - from your mouth to God's ears! Our local vacancy rate was reported as being 6.2%, much higher than it was 3 1/2 years ago when we bought a house we have as a rental here in Southern Oregon. But, good single-family house rentals are tough to find here, I'm hearing.

Jan 04, 2009 01:17 AM
Thomas R. Martin Broker/Owner ICPM
Investors Choice Property Management - Sacramento, CA
Property Management the way it SHOULD be.

Karen,

 

We are seeing that here as well. While there are plenty of vacancies at first glance, finding a good quality home rental takes a bit of searching. It is shocking to me what some people will try to rent out these days.

I think this market will separate the serious service-based professionals from the rest. Good luck to you and yours in 2009.

Jan 04, 2009 05:26 AM
Robert Machado
Homepointe - Sacramento, CA

I love the optimism!  Vacancies are up and rents are sliding down--the coming good weather should help rent some properties. 

 

James Safonov

jsafonov@homepointe.com

Jan 12, 2009 06:33 AM