In 2014 the Rental Housing market grew an annual pace of 3.3%, with occupancy rates at 95% (according to MPF Research)
If you’re looking to grow your rental portfolio in 2015, where should you start? Among the most obvious places would be the best performing rental markets of 2014! Last year was a surprisingly strong market for growth among rental housing throughout out the entire US, growing an an annual pace of 3.3 percent with occupancy at 95%.
Below are the top 10 markets in the United States, as measured by annual rent growth percentage (annual rent growth equals “effective rent” in this case).
Calling all renters! If you’ll be searching for a new home in the next few months, I’m about to introduce you to your new secret weapon. Why will you need a secret weapon?
The rental market is really busy, which means the rules are changing. If you want to score a great home and avoid a lot of headache, there are a few facts you must know:
• There are more renters (read: competitors) than the last time you searched
• The best homes are rented to new tenants within a week after being listed
• Average applicants usually settle with a boring, average, or overpriced home
I’m a city renter myself, and I’m well aware of the frustrations and problems we face in the hunt for a new place. When you’re competing to rent a home that’s in great demand, you need more than the law of averages on your side.
• How do you stand apart from the other 20 people that also applied?
• How do you convey that you are the best possible tenant?
• How can you AVOID rental application hell & paying numerous application fees?
There is one easy answer for all of these questions: you need to stack the deck in your favor by being organized and standing out!
To stand out, you need a “Rental Resume”! Let me show why, and how it can drastically help you. Continue reading
With an ever-competitive rental market, setting yourself apart from the competition is no easy task. Here’s how using renter introductions can help set you apart from others renters.
When renting an apartment, it’s always the same song and dance…submit your application and let your credit report speak for you. After talking with countless renters, we know that you need a voice too! Introductions by RenterResume will give you the tools to stand out from the crowd, when used wisely!
Implications of a disastrous monetary policy. (Part 2 of 2)
In my last post, I explored how rent prices could be affected by the latest Federal Reserve announcements. Judging by the amount of positive feedback I received via Facebook and email, I really hit a nerve!
While rent prices probably won’t increase drastically in the near term (1-2 years), they could be significantly affected within 5 years. Many different factors could spur this including: Increased credit standards for mortgages, decreased demand for buying a home, and inflation.
The truth is, there is no predictable or easy answer to how rent prices will fluctuate in the coming years. An economist is better suited to give answers on this complex subject.
Since I don’t have an Economics degree or Wharton MBA, I interviewed someone who does! Mr. Richard Finger is also a regular Forbes contributor and his work, in its entirety can be found here:
Implications of a disastrous monetary policy. (Part 1 of 2)
How would your life change if rent prices doubled next year?
The Federal Reserve (The Fed) makes monetary decisions that affect all of us by way of our purchasing power, and there is no escaping it. Any smart investor tries to predict future market trends to get an edge on the rest of the herd. Herein, I will help you do just that within the rental housing industry. Whether you’re a landlord or you rent your house, you will be affected!
If you’re a landlord, you’re in the business of making money. If you’re a renter, you probably want to save money to buy a house. If you don’t care about extra money, maybe you’ve found the wrong blog?
Life can be unfair, and sometimes the lesser man (or woman) wins. But not today.
Follow this proven plan to separate yourself from the other 95% of all renters (your competition)!
How can I stand above the competition you might ask? Hint: while your competition only turns in the completed paper application, you do something radically different.
In the summer of 2010, I was looking for a new house to rent. My place at the time was more suited for my college days as I had outgrown the weeknight partying lifestyle. In Baltimore county there were a ton of choices, from single family homes to 15th floor penthouses, and from city living to country living on windy roads. I did the normal searching on CraigsList and visited 6 houses, and eventually applied to 3 of those.