What Are Tenants Thinking in This Market?
We are living in an unprecedented time period of the housing market. Buying a home is the hardest it’s ever been with home prices skyrocketing and the Federal Reserve raising interest rates. With the market having low supply and high demand, landlords are selling their investment properties ultimately uprooting their tenants. More primary residents moving into the Las Vegas Valley while landlords are selling their investment properties to primaries, which lowers the total amount of rental properties. These conditions make for a strong sellers and landlords market. Landlords have all of the options to either raise their rents, find new tenants willing to pay those rents, or sell at a high price. This puts tenants in a tough situation. Accept the increased rent price or go out in the white hot market? What other options do they have? What we are seeing here at Resys Real Estate is that tenants are doing everything they can to keep their current residence at a higher rate. Understanding how both sides of property management can be difficult, but we are here to make the lives of tenants and landlords a little easier. We know rentals because we have been in the property management business for over 30 years.
Resys Real Estate
6910 Edna Ave. Las Vegas, NV. 89117