What are the key indicators of a good rental market?

[Brandon Turner]

Hey all, I'm doing some research for an upcoming post and I'd love to get some group brainstorming done. My question is: What are the key indicators of a good rental market?  

(For example, schools, crime, jobs, etc.)

Or maybe I can also phrase it this way: What do you look for, in regards to location, when choosing to invest somewhere? 

Thanks all! 

[Mike F.]

People will rent in any market and in any location. People rent in the ghetto and they rent on the water in a gated community and everything in between.

Show me a geographic area anywhere and show me where there are no rentals within 5 miles of that location. The only thing that matters is renting your property, that's it. People buy based on perceived value, if your properties perceived value is 500 and you're asking 600 it takes a bit longer to rent it. If it's PV is 500 and you're asking for 1000 it might never rent. Turn the tables and create a perceived value of 1000 and rent it for 800 and people will beat down the door and your perception is you're in a hot rental market no matter what anybody else thinks. Offering rental properties so no different than any other business. You have a product and you have to compete with the competition. Those who don't know how to compete are the ones who feel the pain. If all you want to do is offer parity in perceived value and asking price you'll always have a difficult time, no matter the location or the market. Those who focus on their product find lots of customers wanting it.