My take on this is that the original increase in rents as of late is the cause of investment property owners trying to lessen the bleed. I can’t tell you how many times I’ve heard people discussing this issue. There are no real fundamentals behind this increase, just look at all the available rentals on Craigslist. There’s pages and pages of properties for rent. A lot of these investment property owners are amateur investors that do not realize that their costs will increase once their ARMs adjust. This increase is simply unsustainable and has no fundamental backing. What average renter can afford to pay $2,500 per month? Very few I’m sure. Of course there are the long term property owners that have noticed an increase in rents and have followed suit, get’em while the gettings good! Have your renters sign long term leases if you can because who knows how long this could last.