Skip to main content

New Survey Finds Rents Going Up, Up, Up

Phil Hall
Oct 07, 2015

If there is any positive news involving Americans who rely on rental property for their housing needs, it was nowhere to be found in the newly released seventh annual Property Owner and Manager Market Report published by

According to this survey of more than 500 property managers, rental vacancy rates are at a 20-year low and more than 46 percent of survey respondents reported a decrease in rental vacancies. Fifty-five percent of the property managers said they would be less likely to offer concessions or lower rents as a strategy for filling vacancies, while 56 percent stated the increased demand for rental property has not made them more selective about potential renters – only 17 percent of respondents claimed they were more selective about prospective renters.

But new tenants are more likely to be paying higher rents than their property predecessors: 53 percent of the surveyed property managers said were more likely to bring in a new tenant at a higher rate rather than negotiate and renew a lease with a current tenant.

And, yes, rents are on the uptick: 68 percent of property managers predicted rents will rise in 2016 by an average of eight percent. And much of that money will probably come from Millennials—45 percent of property managers reported an increase in the number of Millennial renters. 

Oct 07, 2015
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023
Former Employees Sue Rocket Mortgage Over OT Pay

Claim company failed to properly calculate & pay OT for working beyond 40 hours a week.

Jan 09, 2023
Judge Grants UWM Partial Win In Ultimatum Lawsuit

AML’s declaration that the ultimatum violated antitrust law survived.

Industry News
Jan 04, 2023
A&D Mortgage Launches Temporary Rate Buydowns

Offering 3-2-1 and 2-1 buydown options.

Industry News
Jan 04, 2023
Zillow: 2M Homes No Longer Require A Jumbo Loan

This is the result of FHA's update to the baseline conforming loan limit in high-cost areas topping $1 million.

Industry News
Jan 04, 2023