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John Landskroener's profile image
  • from Orlando
  • Member since Oct 4, 2023

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John Landskroener's profile image
  • from Orlando
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John Landskroener
  • Orlando
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What is driving the increase in days on market?

John Landskroener
  • Orlando
Posted Nov 21 2023, 06:31

What are you seeing as the biggest increase in the amount of time it is taking to find renters? According to the MLS the days on market is over 80. What I'm seeing is people applying who aren't qualified or calling to ask about qualifications and not even applying. The rates haven't increased dramatically over the last few months but the amount of renters seems to be decreasing. Does anyone think that may have to do with the decrease in attendance at the parks and short term rental owners being forced to flip to long term? I'd love to know what other people are seeing or what they are doing to combat this.

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Eliott Elias's profile image
Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Nov 21 2023, 06:40

This is very market per market driven. But overall, the commonality is the season. People don’t typically move around this time.

Mackaylee Beach's profile image
  • Real Estate Agent
  • from Kansas City, MO
  • Member since Aug 11, 2020

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Mackaylee Beach's profile image
  • Real Estate Agent
  • from Kansas City, MO
  • Member since Aug 11, 2020
Mackaylee Beach
  • Real Estate Agent
  • Kansas City, MO
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Mackaylee Beach
  • Real Estate Agent
  • Kansas City, MO
Replied Nov 21 2023, 07:28

During this time of year, everyone is caught up in the upcoming holidays, causing rental properties to stay on the market for longer than expected. 

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Carlos Ptriawan's profile image

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Carlos Ptriawan's profile image
Replied Nov 21 2023, 07:33
Quote from @John Landskroener:

What are you seeing as the biggest increase in the amount of time it is taking to find renters? According to the MLS the days on market is over 80. What I'm seeing is people applying who aren't qualified or calling to ask about qualifications and not even applying. The rates haven't increased dramatically over the last few months but the amount of renters seems to be decreasing. Does anyone think that may have to do with the decrease in attendance at the parks and short term rental owners being forced to flip to long term? I'd love to know what other people are seeing or what they are doing to combat this.


 rent is actually decreasing in the last 12 months, lot of apartment syndication is on trouble becoz their competitor is starting to give free rent or reduced rent, also there're more rent unit available in the market these days, like texas in general would have more rent unit available til 2026. Even CA rentable unit is also increasing. also due to inflation, lot of young kid moved back to live with their family again,it'sall good for renters and govts.

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John Karg
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  • Lender
  • from West Palm Beach, FL
  • Member since Jul 17, 2017

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John Karg
Pro Member
  • Lender
  • from West Palm Beach, FL
  • Member since Jul 17, 2017
John Karg
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  • West Palm Beach, FL
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John Karg
Pro Member
  • Lender
  • West Palm Beach, FL
Replied Nov 21 2023, 21:15

I think there's definitely an aspect of seasonality, as people don't like to move in the middle of the school year and right before the holidays. Certain markets may also be experiencing a bit of a slowdown as well in the rental market. 

John Landskroener's profile image
  • from Orlando
  • Member since Oct 4, 2023

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John Landskroener's profile image
  • from Orlando
  • Member since Oct 4, 2023
John Landskroener
  • Orlando
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John Landskroener
  • Orlando
Replied Nov 22 2023, 05:25
Quote from @John Karg:

I think there's definitely an aspect of seasonality, as people don't like to move in the middle of the school year and right before the holidays. Certain markets may also be experiencing a bit of a slowdown as well in the rental market. 


What I've seen too is people who may have rented in the past are able to afford a new build house with builders such as Ryan, who are buying rates into the upper 3s, 4s, and 5s. $2,300 a month rent or buy a house for around the same price with an FHA loan and 3.5 down it makes more sense to try to purchase.

Walter Moneypenny's profile image
  • Realtor
  • from Phoenix
  • Member since Nov 11, 2023

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Walter Moneypenny's profile image
  • Realtor
  • from Phoenix
  • Member since Nov 11, 2023
Walter Moneypenny
  • Realtor
  • Phoenix
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Walter Moneypenny
  • Realtor
  • Phoenix
Replied Nov 22 2023, 05:35

Definitely market specific, but in general DOM is up and rents are flat or down. The 4th quarter in the Phoenix area is normally slow and this year is no exception. Our rental rates are a little down, but that is after a huge increase over the past couple years. As it has been echoed here already, people generally don't like to move during the holiday season and when school is in session. 

John Landskroener's profile image
  • from Orlando
  • Member since Oct 4, 2023

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John Landskroener's profile image
  • from Orlando
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John Landskroener
  • Orlando
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John Landskroener
  • Orlando
Replied Nov 22 2023, 06:55
Quote from @Walter Moneypenny:

Definitely market specific, but in general DOM is up and rents are flat or down. The 4th quarter in the Phoenix area is normally slow and this year is no exception. Our rental rates are a little down, but that is after a huge increase over the past couple years. As it has been echoed here already, people generally don't like to move during the holiday season and when school is in session. 

we've been seeing this go on for months. Since the middle of second quarter last year. In our area there is about a 50/50 split between short and long term rentals. The short term people are down 20-50% on their bookings and many are switching to long term. Also builders buying rates down here isn't helping either because those people who are waiting for the "market to crash" aren't seeing it happen.