If you are renting now, this may just be the perfect time to enter the buying market and take control of your monthly housing payment.
No matter how you look at it, you are always paying someone’s mortgage.
Why not make it yours?
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Read more: Why Renters May Be in Trouble
“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.
Large-scale investors—those who purchase at least 10 properties a year—have spent about $68 million snatching up 528,000 single-family rental homes since 2011, according to a report last month by Haendel St. Juste, a Morgan Stanley analyst. Now the CEOs of Silver Bay, Starwood Waypoint, American Residential Properties, and Blackstone Group all say they plan to raise rents this year.
“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.
Source: “U.S. Single-Family Landlords Are Raising Rents, CEOs Say,” Bloomberg (April 21, 2015)
Have questions on going from a Renter to an Owner?
Contact me, I can walk you through the process.
Paula Allin – HomeSmart Professionals
401-241-2976 or PaulaSoldit@cox.net
Check out properties online at: http://www.PaulaAllinRealEstate.com