Did anyone own rental properties in Midland, TX during the last oil decline in 2014-2015?
I’m curious to know if you were able to keep your properties rented and/or if you had to come down on the rent to keep them occupied etc.
There were times when our RV Park only had one renter. And yes, we came down to $350 ... right now we charge $500 for a 30 AMP anD $550 for a 50 AMP. The downtime lasted around 6 months to a year...
Following! Interested to hear from firsthand experience then, we used rental rates from 2014 to base our investment decisions/debt coverage decisions here.
What were the rental rates that you used? I’d be curious to see the difference to rates now.
@Monica P. approximately $.60/sqft/mo