Rental Market Update

• Our average days on the market have gone from 14 to 35
• Our number of vacancies has risen from 11 to 39
• Our average number of applicants (Per property per week) have decreased from 6 to 1
• The number of homes that we have that sit on the market over 45 days has risen from 0 to 7

Showmojo, a national company that provides leasing support, recently posted a blog about this change at a national level, which you can read HERE.  The data they provide is very similar to what we have seen locally. It is imperative that we react to the changing market quickly to maximize your investment. 

Here is how we recommend that you best protect your investment income:

If your home is vacant:

- Be the best deal on the block!  You can still place a tenant quickly if you beat the competition. Tiner Properties will provide you with practical rent evaluations that will help you fill that vacancy quickly. Most well priced homes are still renting in 20 days or less. 

- Advertise with great photos, thorough descriptions, and a broad base of websites.  Tiner Properties uses a professional photographer and includes amenities and detailed property descriptions. Our advertisements are posted on over 20 relevant websites (including Zillow, rentals.com, Trulia, and tiner.com  which has great local rankings.

- Make sure to be accessible and accommodate all showing inquiries.  Tiner Properties recognizes that each lead needs to be carefully fostered in this market.  We have increased our leasing staff and tripled our showing schedule in the last year to accommodate the rise in vacancies. 

If you have a great tenant paying market rent:

- Lock them in with lease renewals to avoid a vacancy during this slow period. Tiner Properties completes annual inspections about 2 months prior to the tenant’s lease expiration, and provides renewal rent value pricing recommendations with our inspection report. 

Tiner Properties works hard to always be on the cutting edge of market trends. By tracking these trends and reporting this information to you, we help Landlords pivot to maximize your investment potential.