REntal Percentage (by LeePookie [IN]) Apr 14, 2018 6:40 AM|
REntal Percentage (by Smokowna [MD]) Apr 14, 2018 7:01 AM
REntal Percentage (by NC INVESTOR [NC]) Apr 14, 2018 7:05 AM
REntal Percentage (by myob [GA]) Apr 14, 2018 11:00 AM
REntal Percentage (by NC INVESTOR [NC]) Apr 14, 2018 11:51 AM
REntal Percentage (by Oregon Woodsmoke [ID]) Apr 14, 2018 12:08 PM
REntal Percentage (by Wilma [PA]) Apr 15, 2018 11:38 AM
REntal Percentage (by LeePookie [IN]) Posted on: Apr 14, 2018 6:40 AM
Thanks to J(IN) for bringing the eviction rates to my attention. I took the website info and articles with a grain of salt HOWEVER, it did get me to thinkin'
What percentage of your area or town in rental property versus owner occupied?
I couple of our towns are 24% and 51%.
It makes me wonder of the current and future tenants. I know in my area folks do not look for fixer uppers much. Too lazy or lack the know how.
REntal Percentage (by Smokowna [MD]) Posted on: Apr 14, 2018 7:01 AM
My thoughts are not on the articles but rather what popped into mind.
We know people don't work on their cars. Ten years back people "worked" on their cars by having someone install a radio.
(For me, working on my car meant " help me push this thing to get it started or I'll be late!").
If we as landlords can keep people in upgraded homes, they won't want to buy their own if they feel better living under our roofs.
Privacy is the biggest problem I have supplying. Meaning I can make the space nice but they may not like the neighborhood or they may not want a roommate (A couple different scenarios. But both have to do with privacy).
REntal Percentage (by NC INVESTOR [NC]) Posted on: Apr 14, 2018 7:05 AM
REntal Percentage (by myob [GA]) Posted on: Apr 14, 2018 11:00 AM
Here in metro ATL the rental percentages follow the quality of the schools. Bad schools more people move out- investors move in.
Smokowana deep insight on that. Very true. One reason we keep our propertys up and above regular homeowners.
I found when I was buying VA foreclosures that hardly any owner occupants were bidding. they didn't want the work fixing them to live in. They couldn't see past the filth and say I can see myself in here. That's why we were so sucessful bidding on them. People want new to live in-- NOT THE DEAL OF THE CENTRUY. --99.103.xxx.xxx
REntal Percentage (by NC INVESTOR [NC]) Posted on: Apr 14, 2018 11:51 AM
"If we as landlords can keep people in upgraded homes, they won't want to buy their own if they feel better living under our roofs. "
The statistics don't bare that out. There were 6.1 million home sales last year and 1/3 of those were first time buyers. 65% of the first time buyers are under 37YO. The American dream of owning a home is alive and well.
What does work in our favor is that finding affordable homes is becoming harder for first time buyers and they will continue o rent better quality homes in average to better neighborhoods until they can afford to buy.
As for the notion "People want new to live in". Of the 6.1 million only 612,000 were new construction and builders are not building for first time buyers. New construction costs on average 20% more than an equivalent existing home for sale coupled with new builders start at $350,000 and up except in the top 10 markets where they start at $500 and up. --71.75.xx.xx
REntal Percentage (by Oregon Woodsmoke [ID]) Posted on: Apr 14, 2018 12:08 PM
In Central Oregon, tenants are about 38% of the population. Vacancy rate is under 1%. Prices are high so a lot of people can't afford to buy.
I just moved to Idaho. I don't know what % of the population rents, but available rentals are almost nonexistent. Prices are high so a lot of people can't afford to buy.
Both places, there is a gigantic demand for $500 rent with all utilities included, when a one bedroom apartment goes for over a grand. Lots of demand, no way to meet it. --174.216.xx.xx
REntal Percentage (by Wilma [PA]) Posted on: Apr 15, 2018 11:38 AM
Wow! Just looked ours up - 92% of the township is owner occupied! But honestly, it's about what I expected. We'd have little trouble renting if we weren't picky about pets and smokers. --71.175.xxx.xx