Rise Of The Renter Nation

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I don’t know where they sourced the data for the article. The rents seem to have no reality compared to (much lower on) Craigslist, Zillow, rentometer, etc

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Fake news?

Signed,

Donald

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I said the same thing in this forum previously. I suspect they use rents of newly built apartments :slight_smile:

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https://www.newschannel5.com/newsy/rental-housing-is-the-most-expensive-its-been

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https://propmodo.com/how-mapping-technology-is-empowering-the-modern-renter/

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I had to get new tenants. Found new tenants before the current ones moved out at the same rent. The rent is $100/mo more than the current tenants signed for at the start of 2017. I really need to get the lease so it doesn’t end in winter. Has anyone tried to do a 15 or 16 month lease?

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Why are you assuming your new tenants will only stay 12 months (as opposed to then going month to month after)?

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That could happen. It’s just this lease will end at the end of January next year.

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I have done 15 month leases in the past in order to avoid wintertime lease-end dates. However, in my experience, once the lease expires in the spring, the tenants just go month to month anyways and then you cannot predict when they eventually wish to move. So the 15 month leases in my experience have not really had any good effect.

I’d say just focus on top notch property management — and the result will be tenants that are perfectly content to stay for years on a month to month lease.

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I tend to draw young, single people. I think by the nature of that they’ll never really stay long-term. Turnover every 2-3 years will be pretty normal.

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Would you say the new rent is at or still below market rent? Obviously, hard to say what may happen with that in another year…