Victory Prop…, Real Estate Pro in Raleigh, NC

I've read in the paper recently that since many people can't buy, the rental market is stronger. What do area landlords think?

Asked by Victory Property Management, Raleigh, NC Wed Mar 30, 2011

Are you happy with rental rates? Property managers tenant quality choices? Length of time your tenants are staying?


4002 1/2 Oleander Dr. 1A Wilmington, NC 28403 910-447-9495 http://www.MyWilmingtonRent.com
Serving Wilmington area, Carolina Beach, Kure Beach, Wrightsville Beach, Leland, Ogden, New Hanover County

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4
The rental market is very strong at this point, and continuing to gain moment. In 2009 in Wilmington we had about a 44% vacancy rate, rental prices were dropping, and there was an enormous amount of inventory. In 2010 rental prices found their floor and inventory began to shrink. This year rental rates have started to rise in some areas, inventory is low and our vacancy rate is about 11%. It is a great time to consider being a landlord right now. I hope this helps!

Tracy Maurer
Long Term Property Manager
Intracoastal Rentals
Wilmington, NC 28480
910-509-9700
0 votes Thank Flag Link Wed Mar 30, 2011
Those are great stats Gerard for the DC area. Just to chime in with my observations here in NJ, the rental market is strong. Of four transactions I'm working on, 2 are rentals, and one of the sales is to a couple who intends to rent (they found me on Trulia!!). Landlords are quite firm on their terms and for now demand is strong.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Wed Mar 30, 2011
Rates have dropped, lots of renters out there right now (until banks get greedy again and start throwing money at people again) and yes I right long term agreements..... it is all in negotiating and securing the most qualified tenant.
0 votes Thank Flag Link Wed Mar 30, 2011
In the DC area - rents are up 8% over this past year.

Good Luck!

Gerry Dunn
Associate Broker
Serving Maryland, D.C. and Northern Virginia
0 votes Thank Flag Link Wed Mar 30, 2011
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