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Updated over 4 years ago on . Most recent reply

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229
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Sunny Burns#4 All Forums Contributor
  • Rental Property Investor
  • Mine Hill, NJ
388
Votes |
229
Posts

Crazy Demand for Rental

Sunny Burns#4 All Forums Contributor
  • Rental Property Investor
  • Mine Hill, NJ
Posted

I just created a rental listing yesterday for my property in North Arlington, Bergen County, NJ.

Within 5-minutes of posting it on Zillow, I had calls from 2-eligible prospective tenants who both watched the video tour and really want the property.

Its been 13 hours now, and I have probably 30 leads who have reached out...

I've never had this overwhelming response... is it really just the influx on NYC residents into NNJ?

I decided not to post to Facebook Marketplace because I can't even imagine the amount of messages...

I feel like I priced the rental on the higher range at $1700/month, but maybe I should just increase it... so my phone stops ringing...

Anyone else experiencing this?


Most Popular Reply

Account Closed
  • Investor
  • Columbus, OH
1,771
Votes |
861
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Account Closed
  • Investor
  • Columbus, OH
Replied

Similar here in Columbus Ohio. Its always been high demand in my area, but it went even higher with recent listings.  I'm also getting tenant applicants that traditionally don't come into my area. Many people told me their landlords were selling their previous homes. 

I think its a combination of less rentals on the market (people moving less and landlords selling properties due to rapid price appreciation here) and more people looking (downsizing due to economic issues, booted due to a landlord sale, or booted due to nonpayment) 

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