Surveys Show: Renter Increase

More and more people are finding renting the way to go. There are many people who are currently renting that do not plan to move out any time soon. The housing market is also not within the next three or five year plan for many of these people as well. This is good news for the rental companies and property managers. There has been an increase in numbers that are stating that they feel financially comfortable where there is not a stress as to how bills will be paid or whether or not there will be a small amount of extra money available for a small shopping spree from the last pay check. This means that more and more people are ready to stay where they are and not be moving out and quitting on the rental options. More and more people are likely to stay in their current residence according to recent surveys.

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Because people are feeling more positive about renting than previous, the property managers can take hope in knowing that they will not soon run out of renters. These rising numbers and positive vibes about renting will likely give property managers more customers and more opportunity to expand property units. This is important to expect the increase so that property management can be prepared for this stellar news for their business. The goal of home ownership has also dropped. The importance of having surveys run and numbers to show the direction of the market is important to prepare for the future. 

Rent is increasing, rental houses are increasing and the opportunity for the market to increase nationwide is continuing in the upward direction. Staying within a competitive range for paying rent with other similar properties in the area will ensure this rise to increase. Slightly lower than competition will give you that extra edge with this increasing market. Never discount that a $50 discount per month may be the deterring factor between a tenant that stays with you for the next three years and a tenant that would stay with your competitor. In the long run, the $50 does not make a difference but ends up in your benefit as your vacant properties may be less and the longer a person rents with a more reputable reputation increases your gain in the long run. This includes referrals and long term renter success as well as rating increase. Never forget how much a few small adjustments to rent or customer service can increase the likelihood of a long term renter.