Renter's Market
There’s a time when it’s neither a Buyer’s Market nor a Seller’s Market. We call it “Renter’s Market”.
It’s that time where, despite the supply and demand ratio of properties for sale, the overall economic conditions are not favorable for such a big investment like buying a house and the Real Estate Market shifts toward Rental.
Renters always represent a huge market. There are a lot of people in many professions who get transferred from place to place, so choosing rent is best for them. Additionally, a lot of people have been preferring to save money to travel and other types of entertainment, so they don’t have “owning a house” as a priority – especially the ones who don’t have a big family and don’t intend to. Not to mention Rent Control, which always provides certain gems…
However, the term Renter’s Market should only be used when, independently from all of that, it is economically more interesting - both to the tenant and the landlord - to rent than it is to buy or sell.
Real Estate Secrets:
Did you know there is a middle way between rent and buy/sell? It’s called Rent with Option to Buy and we have a blog explaining a little bit about the so-called Rent to own Properties. You should check it out!
Is it a Renter’s Market right now? Look through The OFFICIAL Real Estate Agent Directory® and find a local agent that specializes in rental to help you find the best offerings!
Popular Real Estate Terms
Primary horizontal support for a structure such as a house. It may be a large piece of wood, stone, iron, or other material that lies across the walls, and serves as support of the ...
Ownership of property transfers from the seller to the buyer when the parties sign the contract. ...
City apartment building that is overcrowded, poorly constructed or maintained, and generally part of a slum. In law, a tenement also refers to possessions of an individual that are ...
Individual with legal privileges and obligations. The legal term is sometimes used for a corporation. ...
What is Novation? What is the definition of novation? Jointly agreeing to provide an equivalent legal obligation or debt for a previous one. Persons to the contract can also be ...
Owned by one individual or sole ownership. ...
Managing property directly at its location. The management functions may include showing prospective tenants the facilities, collecting rents, and doing upkeep on the property. ...
Interest rate on a loan that varies periodically based on some related measure. If interest rates are currently high and a prospective buyer of a home believes future interest rates will be ...
The external covering finish of a structure which protects it from the elements. Exterior finish materials, including shingles, siding, and paints, are design to resist severe weathering ...
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