How do I find out about rental market trends in Columbia?

Asked by Dong Lee, 21093 Fri Jun 29, 2012

I am a new investor planning on buying a townhouse for a rental property.
I want to find out about rental market trends in Columbia.
I also want to know how fast vacancies are filled.

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3
Edith Karoli…, Agent, Winnetka, IL
Fri Jun 29, 2012
Best way is to connect with an experienced area Realtor, someone who will work on your behalf and only in your best interest, understanding all your needs for your investment property. Be loyal to one
Realtor and that Realtor will be committed to you and find you the right property for you in your price range. If you need any recommendations in your area of interest feel free to contact me for a good
recommendation.

Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
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get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
0 votes
The Roskelly…, Agent, Gambrills, MD
Fri Jun 29, 2012
Hi REInvestor,

Just contact a local Realtor. One who handles a regular flow of rentals from both the landlord and tenant side. They will be in tune with what is going on and can provide you detailed reports on activity...how long a property took to rent, the original asking price versus the final rented price (usually the same) and more.

You are in a great market right now as rental inventory is the lowest I've seen it in 13 years and prices are at the highest. And with interest rates as low as they are right now you can purchase a home and have an immediate break even on rent or even make a small profit if you look in the right area. The key is tuning in to the areas that renters want to be.

Just to your East in Anne Arundel county we've got Fort Meade buyers and renters clamoring for Piney Orchard, Crofton, Seven Oaks, Severn and other areas within 15 minutes of the base.

Thanks to BRAC, DISA and the Cybercommand we've had a healthy increase in the number of families that are rotating in and out of the base each year and it's definitely showing in our rental inventory.
0 votes
George Belle…, Agent, Ellicott City, MD
Fri Jun 29, 2012
That is a difficult question. A large majority of owners rent on their own through Craigslist, so the actual rental amount is never reported, like it is with properties rented in the MLS. However, there are enough rentals in the MLS for you to figure out what the going rate is in an area.

The County probably has data on this as well, since the Section 8 housing vouchers, etc., are all part of the rental world.

The market is brisk, and vacancies fill pretty quickly for the right house. Gary Keller (founder of Keller Williams Realty, which is now the second largest real estate company in the US) just wrote a book about what you are doing, called "Hold." It is just coming out.

Let me know if you want some rental stats for a particular area.......
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