All Forum Posts by: Bogdan Cirlig

zilpy.com/us/new_york_metro for rental trends.

if you have specific addresses or cross-streets in a zipcode in mind you can run local reports that tell you vacancy rates, renter density, crime, household income also 1-5 bdr rent trends for past 12 months.

Yeah I see this happening with properties in areas that are vandalized and so on. A lot of insurances now have exclusion riders, if the property is vacant more than 30 days and then vandalized they won't cover it. You need to understand they have models that can predict the risk down to zipcode/census tract. they need to reduce their loses with risky areas that have high property crime rates. Nothing you can do about it. It's not about the "owner" it's about the subject property.

Well, it's winter time :). Also for Burton, MI the latest trends are as follows:

3 beds hovering at $650/mo and 2 beds at $525/mo for past 3 months. No decline, just steady.

Flint, MI (your larger neighbor city) has shown a rent increase as follows:

3 beds steady Month over Month while up almost 8% compared to Jan of 2014.

Zillow's rent number is very high for that area. The more accurate number is $1025/mo. There are comps to support that number.

Also your neighbor listed his at:

and his is 200 sqft larger than yours

if you do a $999 special it should fly off the market.

also note the rent trends have not been favorable in that area, for the past few months they've been trending slightly down.

Keep in mind one thing: 1 month of vacancy will wipe out your $50/mo extra you're trying to get. I always price my rentals in the low 25% of the market. Why? Because I prefer to have 20 apps over the weekend and select a GREAT tenant than have 2 apps with people that I really don't want to be my tenants.

Also, run a "weekend special" and drop the price by $75, see if you get calls. At least, you know.

The national Rental trend remained bullish in January 2015 with rents inching up in most metropolitan areas of the US when compared to December 2014. More significant increases are observed when looking back 12 months and compare to January 2014, with rents across 2,3,4 bedrooms approaching 10% Year-over-year increase.

During the month of January 2015, New York, NY metro rents experienced an average increase of 5.61% for Studio, 1, 2, 5 bedroom rentals 3, 4 bedrooms apartment and house rents remained flat, when compared to last month. When compared with same month of last year, rents saw an average increase of 10.09% for Studio, 1, 2, 3, 4, 5 bedroom rentals. See full report here.

Los Angeles, CA metro rents experienced an average increase of 2.01% for 1, 2, 3, 4, 5 bedroom rentals and an average decrease of 4.97% for Studio bedroom rents, when compared to last month. When compared with same month of last year, rents saw an average increase of 11.99% for Studio, 1, 2, 3, 4, 5 bedroom rentals. See full report here.

Chicago, IL metro rents experienced an average increase of 5.29% for Studio, 1, 2 bedroom rentals and an average decrease of 2.2% for 4, 5 bedroom rents 3 bedrooms apartment and house rents remained flat, when compared to last month. When compared with same month of last year, rents saw an average increase of 11.07% for 1, 2, 3, 4, 5 bedroom rentals while 3 bedrooms house and apartment rents were unchanged. See full report here.

Dallas, TX metro rents experienced an average increase of 2.40% for 1, 2, 3, 4 bedroom rentals and an average decrease of 2.33% for 5 bedroom rents, when compared to last month. When compared with same month of last year, rents saw an average increase of 8.67% for 2, 3, 4, 5 bedroom rentals and an average decrease of 2.05% for 1 bedroom rents. See full report here.

For a complete list of major metropolitan metro rental trends for January 2015 visit http://www.zilpy.com/rentalmarket

The Rental trend remained bullish in January 2015 with rents inching up in most metropolitan areas of the US when compared to December 2014. More significant increases are observed when looking back 12 months and compare to January 2014, with rents across all bedrooms approaching 10% Year-over-year increase.

New York Metro

During the month of January 2015, New York, NY metro rents experienced an average increase of 5.61% for Studio, 1, 2, 5 bedroom rentals 3, 4 bedrooms apartment and house rents remained flat, when compared to last month. When compared with same month of last year, rents saw an average increase of 10.09% for Studio, 1, 2, 3, 4, 5 bedroom rentals.

Los Angeles Metro

Los Angeles, CA metro rents experienced an average increase of 2.01% for 1, 2, 3, 4, 5 bedroom rentals and an average decrease of 4.97% for Studio bedroom rents, when compared to last month. When compared with same month of last year, rents saw an average increase of 11.99% for Studio, 1, 2, 3, 4, 5 bedroom rentals.

Chicago Metro

Chicago, IL metro rents experienced an average increase of 5.29% for Studio, 1, 2 bedroom rentals and an average decrease of 2.2% for 4, 5 bedroom rents 3 bedrooms apartment and house rents remained flat, when compared to last month. When compared with same month of last year, rents saw an average increase of 11.07% for 1, 2, 3, 4, 5 bedroom rentals while 3 bedrooms house and apartment rents were unchanged. 

Dallas Metro

Dallas, TX metro rents experienced an average increase of 2.40% for 1, 2, 3, 4 bedroom rentals and an average decrease of 2.33% for 5 bedroom rents, when compared to last month. When compared with same month of last year, rents saw an average increase of 8.67% for 2, 3, 4, 5 bedroom rentals and an average decrease of 2.05% for 1 bedroom rents.

That's great news for buy and hold investors and, not so great for renters.

Welcome to BP @Knifie Burks . I hope you'll love it here ;-). Plenty of resources and helpful people.

Yup, as @Elizabeth Colegrove pointed out. If a house doesn't rent, it's usually the price (assuming it's in rental ready condition). 

I pulled a rent report myself and the estimate is $575/mo for your 2 bd/1ba 912 sqft SFH. (also zillow is accurate for once as well lol). Rents were pretty flat for past 12 mo in that area.