Landlords Say They’re Raising Prices Again

    CEOs of the largest companies renting out single-family homes say they plan to raise rents up to 5.7 percent this year. Investors are switching their focus from buying properties to optimizing the revenue from the thousands of properties they bought, taking advantage of the increased demand for rental homes, Bloomberg reports.

    “In the 2015 rental season, we’re really seeing the ability to move rents,” David Singelyn, chief executive officer of American Homes 4 Rent—the largest publicly-traded single-family landlord, with about 35,000 homes—said at a recent conference in Miami Beach, Fla.14 FR_IMG_4789_IMG_4791 copy

    We are focusing aggressively on rent bumps,” Stephen Schmitz, American Residential Properties CEO, said during a panel discussion. “There’s a supply imbalance in some markets. The same thing that keeps occupancy high also drives rents.” Schmitz says they plan to bump up rental rates by 4 percent on renewals and up to 5.7 percent for new tenants.

    There is an upside to consider buying a home given that the mortgage rates are at their lowerst levels in decased, instead of paying a premium in rent. Please give us a call if you are interested in getting started with your home search.

    National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

    www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

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