Updated about 4 years ago on . Most recent reply
High demand, low inventory: Renters face tough housing market in
I ran across this article on WASHINGTON (FOX 5 DC). Working in Property Management , it seems as if people would rather rent until they find a home that they would love. Has anyone seen an up tick in rental applications in their market!
What are your thoughts on this article?
Demand in D.C region housing market remains high, but inventory is low.
Most Popular Reply
I would have to agree with @Linda S. I have been in this industry for over 10 years and have not seen the rental demand this high. Friends of friends, friends of family, random individuals all reach out to me requesting a rental and all I can do is direct them to the best PM companies I know in hopes they have availability. What ends up happening is that the prospect either doesn't get a rental or settles for an area or home that doesn't meet their needs. As @Reid Chauvin pointed out, here in Orlando there are apartments being built everywhere, in addition, investors are purchasing value-add MF's and turning them around increasing value in the community.
As far as being burnt out, PM can be very draining but it's all in how you handle it. Building new processes and enforcing them, working smarter not harder, and keeping a positive attitude will get you through any challenging role. There are hundreds of other career paths that are just as draining, so it's important to get with a PM company who is willing to try new procedures that are good for both the tenant and the PM company/client.