Rents- down, up, flat?

What are you seeing with your rental properties? I know a recent article said rents are down 5%. Are you keeping rates as is for renewals?

Ok I checked out the “Rents Dropping Fast” thread but I’m wondering what the rental owners are seeing first hand. Anything noteworthy?

Mine i think even now is a little below market, The contract ends in July I’ll have PM to see if they want to renew at the same price.

I just signed a new lease with higher than market rate I was expecting last year (not a lot just $150 more), so I am neutral or up.

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Rent in SV is softening but I always rent below market rate so should be able to renew at last year’s rent.

Rent in Austin is still going up, all renew at higher rent.

Thanks folks!

Rents are up 30-50% in Tahoe since 2013…Probably rents will be up 5% next year…I am raising rents on vacancies 5-10%…

New leases have a nominal increase (50-100). They ask why, but sign and agree quickly. I understand them to be at market rate.

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Do they always ask why or is this something new?

They ask why and accept the response. It’s new, but one party always asks for it to be kept the same, but they always agree to the increase over the last three years.

Look at some of the SFH rental prices in RWC. They look like they are up from a year ago.

https://www.zillow.com/homes/20128_rid/37.569534,-122.139774,37.446738,-122.288078_rect/0_fs/0_rs/1_fr/1_z/0_mmm/any_days/house_type/days_sort/