How High Do You Jump In a Landlord’s Market?

By
Real Estate Broker/Owner with KGC Properties LLC, Tucson Property Management & Real Estate

Things that make this a landlords market right now:

According to Trulia rents jumped 5.3% nationwide last month.

Vacancy rates are falling with landlords keeping rents competitive.

Demand is strong but there is not much new supply on the market.


Three things driving the rents up:

Nearly 50% of the homes on the market in Tucson are short sales.  Those folks are out looking for homes to rent.

Many people do not qualify to buy a home.

Those that qualify are still uncertain about home purchase.

(Graph at left represents current Tucson rental homes on market.)

 

Things landlord should consider when thinking about raising rent:

Know your state and local laws about rent increase caps and notice.

Do you really want to lose a good tenant?

Overpricing, turnover and vacancy

And then, if you do raise rents, tenants stay but are unhappy – this can all lead to non- payment, evictions, property damage, etc.

 

Posted by

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 - 2014. If you want to reprint parts of this - just email me for my permission: KGCProperties@gmail.com .

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the magnifying-glass to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Location:
Arizona Pima County Tucson

Comments 4 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pants to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
409,541
Michelle Francis
Realtor, Buckhead Atlanta Homes for Sale & Lease
Tim Francis Realty LLC

Gaby,

Great piont, it's a balance.  We've raised rents a few % for homes this year and some rental prices for new offerings have increased 20% over what the previous tenants were paying.

Know whats legal and what makes sense (and CENTS!)

All the best, Michelle

September 07, 2012 05:59 AM
Rainmaker
1,190,823
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
General Contractor, Dry Rot and Water Damage
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366

You raise some interesting questions when it comes to landlording Gabrielle.

September 07, 2012 06:20 AM
Rainmaker
505,079
Rob D. Shepherd
Principal Broker ABR, GRI
Coldwell Banker Coast

I raise mine every year in very small bumps. Its less sticker shock and they stay with me for years.

September 07, 2012 06:43 AM
Ambassador
1,010,201
Harry F. D'Elia
Investor , Mentor, CSSN, Radio Coach, REOs, ABR
Precision Real Estate Inc.

Pricing the rental at full market means that the home might sit for two or three months hence reducing cash flow. Price it right to place a great tenant.

September 08, 2012 08:10 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
739,089

Gabrielle Kamahele Rhind

Broker/Owner
Need A Property Manager? Click Submit!
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the magnifying-glass to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information