Rental demand up dramatically
In our neck of the woods (Metro Atlanta) rental demand is through the roof. We have a waiting list and cannot answer the phone fast enough. Upward pressures on rents have enabled us to send out "rental increase" letters for the first time in several years. On the multifamily we are finally able to pass the water bills off to the tenants. Truly amazing.
We are also experiencing a higher rate of turnover. Tenants that have buckled down with us through the recession are buying houses or moving closer to their new jobs. These are the tenants that leave the home in a "clean and ready to rent condition normal wear and tear excepted" as specified under GA Law. Once again a rarity.
How are things looking in your area? Thoughts?