Kyle Ford, Other/Just Looking in San Fransisco

What is the vacancy rate in Wilmington NC?

Asked by Kyle Ford, San Fransisco Mon Oct 13, 2008

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Hey Kyle,

I think you are referring to vacancy rates in rental properties. If so, the rate changes significantly from which beach to which area in the city. Glad to give you a micro analysis if there is a specific area in mind. I have personal rental properties and finding quality tenants is very easy right now.
0 votes Thank Flag Link Wed Mar 2, 2011
Well Kyle, if you ask ten people that question you'll probably get 11 different answers and one half answer. The MLS market average is around 150 days. This tracks most major Realtors in town. Local individual owners typically rent their homes quicker but also tend to rent to lower quality tenants and often pay a hefty price. Our company has averaged 55 days vacant for our rentals for the last 12 months. In 2009 Victory only had to Evict one tenant that we placed, and retain a significant amount of the security deposit from 2 total! Perhaps the most telling of all our statistics. We also often assume and rehabilitate problem accounts for seriously distressed owners and only had to evict one of these tenants in 09 as well. In this economy renters are everywhere, however they have a ton of homes to sort through and their overall quality has dropped significantly. It's tough to make a property stand out, and even tougher to find a tenant that keeps it in great shape and pays but our company and a select few individual owners are having a lot of success.
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0 votes Thank Flag Link Thu Jul 8, 2010
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