Monday, July 11, 2011

Housing Market For Renters

I get asked about the current housing market for renters. My advice? Lock in a lease for the longest term possible. Rent is based on market value and until more buildings are built, the prices for current complexes are going up. The market is crammed which is making rent go higher rather then drop. Sign a 15 month lease if possible. Don't get the idea that a 6 month lease is a good thing, so you can move if you want. Think of it as your rent will increase every 6 months or every 15, depending on how long you lock in your lease terms. A 15 month lock is a nicer scenario for your pocketbook.