The Rise and Fall of the Rental Regime

The moon waxes and wanes, tides ebb and flow, and we all know that what goes up, will eventually come down; so it came as no surprise when the rental market started “showing signs of losing steam”, according to a recent report from Reis Inc.

Image Courtesy of Wall Street Journal

     In an article from the Wall Street Journal on October 3, 2012, Dawn Wotapka outlines some interesting statistics regarding the recent slump in the rental sector, possibly due to tenants feelings more inclined to purchase real estate while the rates are so low.

What does this mean for the multihousing industry? Well, seeing as research firm Zelman & Associates estimates roughly 235,000 units to be new construction this year alone, it might mean a few things for a property owner.
Not only will rental prices likely decrease over the years to come in order to obtain and more importantly, maintain occupancy; but property owners will have to do their fair share to make renting more attractive than owning. The good news here is that rental properties already have a head start– one word: amenities. Services such as Wi-Fi, when included with a rental property, automatically make a bare home look exactly that, bare. It is essential that owners do all they can to outfit their rental properties with all desired amenities, and adding a fully managed and monitored wireless network to any property is certainly going to increase the rentability, while also leaving property managers and owners available to fully focus on advertising their amenities advantage, and filling their buildings.

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One Response to “The Rise and Fall of the Rental Regime”

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