Rental Occupancy Moderates
Our report is a summary of findings from our staff, our network of real estate consultants, research into the best sources, and conversations with our strategic partner property managers. We share the current state of rental occupancy, since availability continues to be a challenge in most markets.
The robust building of new rental units over the past 3 years has begun to affect occupancy and rental demand. In most major markets the pace of new units coming online has slowed, with Houston and Dallas Texas as notable exceptions. The result is a moderation of occupancy rates and an easing of rental cost pressure. Reports of an increase of concessions are coming in even from the biggest and most active rental markets as new inventory becomes available.
What This Means For Home Finding
Even those who complete a thorough internet search for rental options may find them unavailable when they arrive for home finding. Assignees should consider:
- Obtain good information on the destination market’s occupancy challenges
- Get comparative pricing and lifestyle information
- Use tools that provide neighborhood demographic detail
- Engage a local rental expert for home search guidance
- Come to the home finding visit ready to act decisively
- Be prepared to be flexible on preferences and amenities
Providers need to be absolutely up to date on new inventory & concession opportunities.
Would you like more information? Download the complete 2016 Year End Rental Market Report.