Re: Beauty of Little Banks NOW (long)

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Posted by Mark (SDCA) on November 06, 2009 at 12:06:16:

In Reply to: Re: Beauty of Little Banks NOW (long) posted by Kristine-Ca on November 06, 2009 at 11:48:18:

Is vacancy your biggest issue here? Are some units just not renting at
all? Where are you tenants going? Or are you just hitting a bad patch
of repairs and other costs plus vacancies?

Not Jimmy but I can relate what I am seeing..

Rents are lower (for the 1st time I can ever recall). Even in previous bad economies rents were stable to up.
Units are staying vacant longer ie fewer showings and more non-takers.
Tenants are looking for deals ie 1/2 off the first month's rent, lowered security deposit etc. I have NEVER seen this in the past for SFRs in my market.

For whatever reason it simply looks like there are more vacant properties than tenants.

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