What happens to rents during a recession?

[John Paul Whaley]

I am a new investor in the DC area trying to get my investing career started with a rental property (or perhaps a BRRRR). Whether you are a seasoned or newbie investor, I'm sure that a potential recession is at very least in the back of your mind when looking for your next acquisition.

My question is two fold:

1. What happens to rents during a recession? It would make sense that as homeownership numbers fall, the demand for rental properties would increase. However, wouldn’t it also make sense to say that as unemployment rises in a recession, supply of rentals also increases (which would even out the increased rental demand)?

2. What are some of the most effective ways to recession-proof an investment property?