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Updated almost 7 years ago on . Most recent reply
What is the lowest rents could go? How to prevent foreclosure?
What is the lowest rents could go? How to prevent foreclosure?
I want to know how low rents could go if we were to fall into another recession. I am mainly concerned with the Houston market. Let's say that I can find tenants to rent my place at $750 per room. What is the lowest that rents could go? Will they only go up or can rents go down as easily as the value of homes during a recession? I don't want to have my property foreclosed on during a recession due to low rent checks coming in or vacancies.
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If you're renting out your units for $750/mo they're not going to go down that much during a recession. Unless they're very far from jobs, because of the supply and demand.
I have homes all over the midwest that I rent out for $750/mo and I know that during the recession these homes are not going to drop very far down in rent because they're C class blue collar neighborhoods.