Update on SFR rental turnover…
Submitted by murray on July 19, 2006 – 10:28am.
Rents are indeed up!
“Two-bedroom units surveyed by the county association rose only about 4 percent over the year, Pinnegar said yesterday. In contrast, single-family-home rents rose by nearly 16 percent, he added. Studios rose by about 13 percent and one-bedroom units increased by 5.8 percent”.
I have a 2000 sq ft sfr turning over Sept 1. I’ll keep you informed on the outcome.
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I rented the house to the first couple who showed up for my *preview* open house. As with the tenants in the other 2 sfrs I own, these tenants recently sold their house, are qualified to buy but choose not to thinking r/e prices will decrease.
I raised rent 11.8% from last year. Rent is high end for the area.
