Rent Your Home

With the high number of distressed property sales over the past five or six years, the rental market has soared. Displaced homeowners have become renters, driving rents up.

As a property owner or investor, it’s important to know what displaced homeowners are looking for. For families, not disrupting the lives of children is a primary concern. Single family homes near neighborhood schools is a top concern. For urban dwellers, walk-scores and proximity to downtown employment are driving forces.

When you’re considering purchasing rental properties, think about who your target customer is, and how you will manage that property.

Watching the market, it seemed that low interest rates and a slight loosening of lending requirements might move some renters who had lost their homes in the first wave of foreclosures and shortsales (2007-2008) back into the purchase market. Low inventory, however is forcing sale prices up and keeping these renters from once again becoming buyers.