i hate

[George P.]

vacancies!

tenant moves out (got married)

- $1,100 - paint - it's a 1050 sq house with empty basement

- $100 - clean the house

- $1,200 - list with MLS - 1 month's rent . (dont even try to tell me i should list it on my own. )

- $1,200 - lose one month to vacancy

my profit on that house is around $4-5k per year. One vacancy costs me 72% of my yearly profit.

[Joel Owens]

Hopefully it will get better soon. It's hard when a tenant can buy and have a lower monthly payment than renting.

What you are describing is people's salaries not keeping up with the above historical average rent increases. With interest rates still low there will be people that had a foreclosure or short sale 2 to 4 years ago where now lenders might take a chance on them owning again.