Are rents changing in your downturn ?

[Thomas Nance]

I’m primarily a multi family but non-commercial landlord/investor. Here on the outskirts of Charlotte, I’m seeing the signs of a downturn in our market and am curious how rents are affected by downturns.

I started in 2016 and have 51 doors. Most of these have been rehabbed and marked up ~20%. Some of these are going to turn soon due to various reasons.

I’m wanting to see others response to increasing rent numbers after rehabs in downturns. I’d like to keep on topic, but I’m also curious if the current economic state due to unemployment will play a role in your response.

Thanks

[Bjorn Ahlblad]

My duplexes and apartments seem to be going up-not that there is much turnover. I filled an apartment last week, tenant moving in on the 1st. She commented ours was easily the nicest she saw (damn shoulda' raised the rent even more!); but who knows what will happen in the next few months. For sure it will vary by city and by area.