I had a vacancy in Q3 of 2018. The original tenant signed on in Q4 of 2017. It took 7 days to find two competing potential tenants - the price negotiated was 10% higher than before.
Another unit - in Q1 of 2019, I increased rent by 3.875% from what was negotiated from 1 year ago.
Another unit - in Q1 of 2019, I increased rent by 9% from what was negotiated from 1 year ago.
Mine is in SV. Rental market is difficult for 1+ years! Impossible to raise rent, potential came to bargain for lower rent than their current rent. Not many relocate.
Mid-pen, looks like a missed opportunity in the winter. There isn’t enough inventory to really tell. Re-lists seem to be moving. High end cream puffs are pushing prices higher. Entry level cream puffs, I haven’t really seen any.
Yeah. And the sale may still be going. I would at least take a look before it stops raining and prime season starts.
Also, our old rental went back on the market. It listed in September!
[EDIT: Actually, it might be the front unit available now. Not sure, but the sign is back out in front.]