The rental market here in Brevard County seems to be picking up. For the first time ever, I've had three of my own rental properties empty. I've never had that many of mine empty at the same time.
The calls had previously been slow in coming in. The callers all sounded the same, "How much to get it?" "What's the bottom line?" "Will you take the deposit in payments?"
Well, I just came from taking a deposit on our third empty. My 3 empties now have deposits and tenants are scheduled to move in between April 15 and May 1.
The calls recently have changed. They seem to be coming from a better quality tenant, more responsible, some looking for long term leases. I love long term tenants.
So, we are hoping that this is another positive shift we are looking for in the real estate market. The rental market seems to be picking up. Hooray!
This article is authored by
Sandy Shores Realtor, Melbourne FL Real Estate
Brevard County Real Estate & Investing
Palm Bay Florida Real Estate News
that for you
Hi Sandy - nice to hear the market is picking up in your neck of the woods!
:)
Sandy, when we saw our sales market tank last year rental units started renting like hot cakes. As demand went up so did rental rates 6-8%. Do you think it is a fluke in your area?
Long term tenants Sandy, and people that can put down the deposits, and have good credit are golden. Nice to hear business is good in this category.
Sandy - Many foreclosed upon homeowners now need to rent. That's good news for landlords. From what I hear, sales in Melbourne and Palm Bay are picking up but home / condo sales are still slow in Cape Canaveral / Cocoa Beach.
Hi SS,
That's great news. Some of my recent clients have been renters. You know what they say,
today's renter is tomorrow's buyer"
I think with less people qualifying for loans they have to rent. I also think they may be playing the market a little. Hoping prices drop further.
We usually see a nice upturn in the rental market at the end of March first of April. We just filled one of our properites in only 3 days. Glad to see your market is picking up as well.
Hi Sandy, That is such good news! YAY is right!! 3 empties are now full!!
Sandy, this is good news especially that they are stronger clients!
Hi Sandy
That is a step in the right direction.
Good luck and Success
Lou Ludwig
Paul, You know, there doesn't seem to be much rhyme or reason to what is going on here in the rental market. For months we had
Gary, I love long term tenants -they are my favorites. Good news.
John, Isn't that interesting that sales have not really started picking up in Cape Canaveral and Cocoa Beach. Yes, we have seen an increase in activity and sales in Melbourne and Palm Bay.
Tony, You are correct in that today's renter is tomorrow's buyer. So very true.
John, I agree that with less people being able to qualify, people will be renting, however the rental market has been very soft here for the past several months, and we've been wondering where all the good tenants are up until now. I agree, that there are some people playing the market.
Justin, I didn't know how this year would play out with rentals, as everything else has been so different than prior years.
Mary, Love it and I think we will have 3 good tenants.
Caren, We seem to be getting some good calls lately.
Lou, We are tickled that the rental calls are finally picking up.