It seems investors are beginning to make the smart choice to not spike rents during the busier season.
We still are just not seeing the demand currently to back up those big rent increases, and others investors are starting to take notice.
Speaking of demand, the number of homes leased saw a 20% decrease compared to Q1.
That’s a 20% decline going into the busy season. That’s not great. And that is exactly why we recommend to hold tight on current rents.
In Q1, 572 homes were leased, while in Q2 we only saw 455 leased.
It seems investors are beginning to make the smart choice to not spike rents during the busier season. We still are just not seeing the demand currently to back up those big rent increases, and others investors are starting to take notice.
Speaking of demand, the number of homes leased saw a 20% decrease compared to Q1.
That’s a 20% decline going into the busy season. That’s not great. And that is exactly why we recommend to hold tight on current rents.
In Q1, 572 homes were leased, while in Q2 we only saw 455 leased.
T&H Realty Service's Perspective
We are cautiously optimistic about DOM lowering over the past quarter. But, 45 days is not a great number. That’s simply too much vacancy.
We are doing our best to educate our investors that the days of large rent increases are over for now. Investors are much better off advertising a competitive rent rate that will help ensure their home is rented within 30 days or less. In most cases, their returns will be much better under this scenario.
