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Updated over 3 years ago on . Most recent reply

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Peter Jindra
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Should I have any fear of rent prices dropping with home prices?

Peter Jindra
Posted

I recently purchased a home with the intention of turning it into a rental in the next 1-3 years. I plan to ideally keep the property as a long-term rental, but I'm aware that by the time I'm ready to rent it out, it's very possible the value of the home will have dropped, since the price of the home is likely inflated somewhat due the current market. 

If I rented it out today, I estimate I'd cashflow even or slightly positive to start, but of course I'm worried that I won't get as much per month in say, a year and a half. I've tried googling some historical data on rent prices and it seems that they stayed steady, even during 2008-2009. 

Can someone with more experience give me some insight on this or provide resources that will give me a better idea? Thanks.

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