Re: hows the rental market these days?
We are seeing allot of scared landlords offering all kinds of crazy incentives to renters.
We have historically offered our rental units at about $50 higher per month then my competitors. I have always accepted they will rent theirs first, which is fine but I will make more money. I also maintain my units to a much higher degree then my competitors.
However, now I am seeing them offer their units $150 lower then mine and crazy incentives: 1/2 off first month rent or first month rent free, no move in costs (no security deposit) etc.
It's nuts what these people are offering. The problem is that I can not compete at those low prices.
Example: Rental for a 1500 sf 3 br house are going for $750.00 (which would no where near cover the note+taxes+ins) where as that rate would be the normal rental for an 800 sf 2 br apartment!
Why rent an apartment, when you can rent a home cheaper. It's nuts and landlords are scared.
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