You may have seen stories across news outlets claiming residents are fleeing the concrete jungle for greener pastures…
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Clayton Area Rentals
Renter Nation Trends & How Rental Owners Can Use Them for More Profit
No doubt most landlords have read the headlines regarding the record number of renters in the US these days. Well for our local markets, things are no different. As a result of this massive shift in habits, it stands to reason that landlords and property managers alike could glean great insights that may give them an edge over their competitors. While the rental market is strong and healthy, it’s still quite competitive out there, and minor adjustments can have a BIG impact on a rental investor’s bottom line profitability.
When we’re asked if the rental market is strong, we always have the same response. The rental market is strong and very fluid these days, meaning you have a lot of supply AND a lot of demand. Whether it’s landlords selling, or renters moving, investment properties tend to change hands a lot these days. Renters tend to move much more often than in the past, likely because they usually have a lot of great properties to choose from if the one they’re currently in doesn’t meet their needs. So while there is no shortage of tenants, it’s easy for a landlord or property manager’s marketing to fall through the many cracks, and lead to long vacancy or mistakes in tenant selection.