Home Buying in Meridian>Question Details

Arya Harta, Home Buyer in Anaheim, CA

How's the house rental market in Meridian and Boise area? I'm an out of state buyer. Thank you.

Asked by Arya Harta, Anaheim, CA Thu Aug 9, 2012

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7
Hello Arya,

The rental market in the Boise metro area (Meridian, Eagle, Nampa, Kuna, Star, Garden City) is currently strong for investors. Low vacancy rates (high demand) and low inventory have driven rental rates upward the last several years (creating greater cash flow for landlords). The national housing and financial crises have also contributed to higher demand for rental units because more people have been forced to rent as they have lost their homes.

Look for a local Real Estate Agent who is experienced and prolific in the area. My best advice is to ask for references and to speak with past and current clients. You can also conduct your own due diligence by searching real estate website to find comments and testimonials about the agents you are considering working with.

Also, ask to see the agent's year-to-date production numbers. If they have not been active in the LOCAL market for the last 6 months or so then they probably are not up-to-speed with current market conditions. This lack of up-to-date market knowledge could cost YOU money by over paying for your investments! Many agents are part-time agents and thus lack knowledge and expertise necessary to be well qualified. Make sure you find an agent who is a full-time professional.

Don't forget the importance of a good property management company. Since you are out-of-state, you will need a competent property manager to look after your investments.

Best of luck!
0 votes Thank Flag Link Wed Sep 5, 2012
Hi Arya...you asked and you received! I agree with what my co-agents have already told you....rents are strong throughout the valley and available properties (that are in good condition) are tough to find. I manage 8 units and all are full! Also it's not just in Boise...Meridian, Kuna, Nampa have the same story and prices are a bit lower outside of Boise.

Let us know if we can assist you further!

Nate
WestOne Properties Group
Keller Williams Realty Boise
208-866-5399
Web Reference: http://www.westoneboise.com
0 votes Thank Flag Link Fri Aug 10, 2012
The rental market is tight here in the valley. Because of the number of foreclosures that took place in our area, those owners became renters. There have been quite a few renters that have become owners but that hasn't helped much. If you are interested in finding a rental until you know where you would like to settle here in the area, I would advise you to be in contact with property management firms in our area as they would know what properties they will have coming up in the next 30 days. I would also visit the website hotpads.com and see if you can get information on any of the rentals on this website.
Once you have done that, you may want to see what is available to purchase. The market is great right now and the interest rates are phenomenal. Prices are increasing on existing properties and all indications are that this will continue. I would be considering buying as soon as possible.
If you have any further questions, please let me know. You can contact me through my website below.
0 votes Thank Flag Link Fri Aug 10, 2012
0 votes Thank Flag Link Fri Aug 10, 2012
The demand for rental property is high. Rates are also high for rentals available. There is a demand for rental property but a low inventory of homes to purchase for investors. A strong awareness to new and existing properties is critical when working with an agent. Its important to interview agents to qualify them to best represent you. I would like the opportunity to visit and interview for that job. You can reach me at markmiranda@kw.com.
0 votes Thank Flag Link Thu Aug 9, 2012
(if you let me know what your real estate investment goals are, I am glad to help you achieve them)

~Curtis

From my iPhone
0 votes Thank Flag Link Thu Aug 9, 2012
The rental market is strong. Rents are up, vacancies are very low. I personally have no vacancies and a waiting list of people looking for a place to rent.
~Curtis

From my iPhone
0 votes Thank Flag Link Thu Aug 9, 2012
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