http://insights.truliablog.com/2011/10/where-vacancies-are-high/
This was interesting on areas. Food for thought I don't see Atlanta and Charlotte…which is good
Both markets did not make the top either….
Next one I don't agree with rochester ny. Again I don't work in that market so biased opinion.
http://www.forbes.com/sites/trulia/2011/12/20/trulias-real-estate-crystal-ball-for-2012/
As we wrap up 2011, Trulia’s Chief Economist looks ahead at what’s in store for the battered housing market and which cities have a big reason to celebrate the New Year.
By Jed Kolko (@JedKolko), Trulia’s Chief Economist
<moderator – I have deleted the cut and paste article because it was too long. Please refer to the links>
Any thin in bold was my two cents..Enjoy
10% vacancy rate for Memphis. That’s why you factor in up to 2 months vacant a year. My property manager did find a tenant in two months.
Why doesn’t high vacancy rates result in lower rent? Must be the shift of people from being owners to renters?
How do you mitigate high vacancy rate? Good property manager, keep the place looking good, go for relatively higher end property – you can always lower the rent to get it tenanted.
David
David I missed this post but good questions and points
jbelmore wrote:10% vacancy rate for Memphis. That's why you factor in up to 2 months vacant a year( this is what we have done for last few years just base income on 10 months.). My property manager did find a tenant in two months. Average day for us in Charlotte and surrounding areas 45 days
Why doesn't high vacancy rates result in lower rent? Must be the shift of people from being owners to renters? How do you mitigate high vacancy rate? This is why we have the problem here in the USA most of the sub-prime were renters who became homeowners. That was first cycle for foreclosures now we are dealing with people who over leveraged and expected huge appreciation. So we will have a surplus of renters next few years.
Good property manager, keep the place looking good, go for relatively higher end property – you can always lower the rent to get it tenanted. David
Yes and no. I deal with higher end and lower end but setting the price fair and having common sense will help in the cash flow rental business.
David seems like you are on the correct path and good points.
Stay in touch via email.
Thanks
Alex
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