With so many condo buyers still sitting on the sidelines, it appears they’re driving up rental prices. If you were planning to sell an investment property this year but are worried about all those bearish buyers, you may want to rent your place out. Chances are your condo will command very attractive rents. One report is suggesting rents are already up 6% over last year and apartment vacancy rates are below 5%.
From Flipper to Landlord?
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About the Author: Marco Kronen
Marco Kronen is the author of Seattle Condo Review and is real estate agent in Seattle who specializes in condos. He has been serving clients in Seattle since 2004.
Good, get those idiot condo flippers to rent out their empty condos and flood the market to drive up the inventory. Let’s see how things go when all these condos either foreclosed or adding to the increasing inventory.
Ubersalad: Flippers have been “flooding” the market for the last 2 years so I wouldn’t hold your breath on rents coming down any time soon.
Is that proven with actual stats or just matter of perception. I am not in the rental market as I own my home, so I wouldn’t know first hand. I am just applying the basic supply and demand model to the scenario.