Home Rental Market Strong
With the housing market in retreat, lower prices and a stalled lending sector making it more difficult than ever for would-be homebuyers to qualify for mortgages, the rental market for single family homes is stronger than ever.
Many property management companies, such as Wisconsin Property Management report a shortage of available rental properties in the metropolitan areas, where home depreciation rates of as much as 20% are driving a fierce home rental market, forcing those hoping to turn a profit on their investments to consider renting just to keep the bills paid until the market reverses and sales go up again.
The company’s Web site features a highlighted post sighting a need for more homes to accommodate their rising number of prospective tenants and a startling 2-3 week vacancy rate.
That rental housing vacancy rate mirrors the same vacancy rate that was dominating in the go-go days of the buying boom just before it busted in late 2003, when potential homebuyers across the country found themselves caught up in bidding wars and paying as much as twice the seller’s asking price just to get in on the market, in some cases, according to the National Association of Realtors.
The bright spot in this scenario is that the Wisconsin tenant placement process, and that of other rental companies across the state, are also moving more quickly for owners, as they find a significant number of would-be renters are coming to the market with the same good credit, income and verifiable references that they would otherwise be taking to the mortgage lender for approval on a home loan.
So, while the market retreats, homeowners can take some satisfaction in knowing that, if they can’t sell their home, they can very likely find a good tenant to live in it and keep the mortgage payments on schedule until the real estate sector comes back to life.
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Armed Security
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More Than a Call Center
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Let the Professionals Handle It
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Cost of Property Management
The cost of Orange County CA property management varies from one company to the other. There is only one that will meet or beat any advertised offer of any other company! Their base rate for single-family it $100 per month, for a duplex, 2-4, $75 per unit or 4.5% of gross rent an apartment, 5-15, $60 per unit or 4% of gross rent. This Orange County CA house property management company does not charge monthly fees during extended periods of vacancy either. The management services include rent collection, bookkeeping, lease/rental agreements, background/credit/eviction/criminal checks, maintenance, property inspections and evictions and much more.
Guaranteed One-Day Service
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