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What is the rental market right now (fast-average-slow)?

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  • August 09 2012 - Temecula
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Answers (9)

Moderating - because people are now BUYING instead of renting.....

More from a recent Trulia article here......

 "Rent gains are slowing down because of more supply, not less demand," explains Jed Kolko, Trulia's Chief Economist. "Many of the multi-unit buildings that have been under construction over the past two years are now coming onto the market. Renters in San Francisco, Seattle, and Denver are starting to get a touch of relief, even though rising prices might put homeownership out of their reach."
  • February 16 2013
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Rental Market is tight with low inventory and high Tenant interest. Well-maintained properties are moving very quickly and pricing is instrumental in insuring a quick turn on a lease. For Renters, do not dawdle. If you are in the market, get with your real estate agent and complete an application and have your credit run. If you are told of a property by your agent, go look at it right away because by the time you get around to it, 1-6 other people have seen it and have already submitted their application for review and consideration.
  • February 16 2013
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Profile picture for Team Forss
Short answer:  FAST.  We receive a lot of calls daily from renters looking for a long term rental.  We also personally own 9 rentals which we rent out and every time we need a tenants there are so many interested parties.  It takes just a few days to rent out.  We also have a complete 1-stop shop approach in our office as we have a residential and commercial leasing company.  
  • February 16 2013
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Profile picture for Teri Arbogast
The rental market here in Broward County seems to be slowing.  I have had my last few rental listings take 2 months to rent out, last year they were going in 1 to 2 weeks.
  • February 07 2013
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There has been a huge increase in rental demand in the last quarter if 2012, compared with the same time last year. The magnitud of rental demand has increased so much that is cheaper to buy a two bedroom home than rent one in most major US cities.  Rental rates in South Florida's coastal market rose 11% in the third quarter compared with the same period in 2011.  The reason for this increase  is the lack of rental inventory.
Best of Luck,

Maria Cipollone
  • February 07 2013
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Rental markets are not fast or slow they are high or low, haha.  Because mortgages are due every thirty days, there is a natural push  even with apartment buildings to get rented within 30 days.  Therefore landlords will drop prices if homes are renting slow and raise it if they are renting fast.  

The lower the rent, the more young people leave their parent's home to live on their own.  The higher rents are the less people go out and rent.

So there is never a shortage or surplus of renters that price cannot manipulate in some way.

The average time to fill a rental is within 30 days.  The current rental market is priced high.
  • February 04 2013
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Hi Jordan,

If you have any ability to purchase instead of buying you might want to do so? Rents are on the higher side these days. Depending on your budget, it can very well, is less expensive to buy than rent.
  • September 19 2012
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Profile picture for guguzzi
I think is average but with fast renter time if you have a rigth price to your house/condo, 10% rent over price on condos!
  • August 16 2012
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If your a Landlord.... and the home shows well and is priced correct you can expect a short marketing period. 1 to 3 weeks.

If your a tenant looking to rent... You will find a good inventory to select from. Be careful of scammers & fraud and homeowners in pre-foreclosure.
I hear sad stories weekly from tenants who have been taken.
Look closely at the interior and landscaping. If it does not show pride of ownership skip to the next home on your list.  
  • August 09 2012
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