Rental Basics in Fort Wayne>Question Details

Geoff, Home Owner in Fort Wayne, IN

What is the rental market like in Ft. Wayne? I am looking at renting 2 of my houses out and I want to know if I will have problems finding renters.

Asked by Geoff, Fort Wayne, IN Tue Feb 8, 2011

I own two houses on Kinsmoor Ave off of Fairfield. One is a 2BR and one is a 3BR. I am thinking about renting them out, but I want to know how the market looks and if I will be able to find renters easily.

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5
Edward D. Tobey’s answer
There is strong demand for good rental housing. Rents are much higher than mortgage payments so renters often are willing to rent now, buy later. If you have them talk to a lender first you'll know if they could be a buyer later. (That is if you want to sell). Another option is to lease the property then look for an investor to buy it as a turnkey rental. Never rent without checking out the renter's credit or having a lender qualify them. If you live out of town consider using a good property manager.
0 votes Thank Flag Link Wed Dec 11, 2013
There are many people who don't qualify for a loan at this time and the rental market is very active.
0 votes Thank Flag Link Wed Feb 9, 2011
With the upswing in GM, many rentals were consumed, as these out-of-town, would-be buyers still had & have a house to sell. Parkview North has also brought long-term construction workers to town. If selling is not in your plans right now, I think the rental avenue is a worthy exercise. However, don't discount the traditional buyer/seller avenue by listening to national news that doesn't apply to Allen County. Homes priced and presented right are selling.
0 votes Thank Flag Link Tue Feb 8, 2011
Geoff,
The rental market in Fort Wayne is pretty strong. There are often just as many home renters available as home buyers. Right now is no exception. Many people don't qualify for mortgages, but everyone needs somewhere to live. If you have any questions, feel free to contact me.
Darren Schortgen
darren@darrenschortgen.com
(260)385-7603
0 votes Thank Flag Link Tue Feb 8, 2011
IF they are priced right you won't have any problems!
0 votes Thank Flag Link Tue Feb 8, 2011
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