Are Rent Rates Plateauing or Slowing Down?

[Frank S.]

I have several SFHs (all are 3/3, double car garage, single story, B+ to A) that historically have rented quickly. However, I am beginning to experience longer days to rent than usual. I monitor and analyze other similar properties, in order to remain competitive, and I’m seeing the same for them. The obvious answer is to lower the rent but that is the point of my post, are rent rates plateauing?

I am always looking to add to my portfolio but based on what I’m experiencing and seeing I’m not anxious to jump in right now unless I find a good/great deal but these are becoming scarce. Considered MF but my research and speaking with friends that own them they are having the same issues. Many can’t compete with the new apartment complexes that are being built with open modern interiors, amenities and convenient locations unless they lower their standards for tenants. This comes with other issues.

Are any of you beginning to experience the same and if so what do you think this means for the rental market?