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Old 04-15-2015, 11:57 PM
 
4,338 posts, read 7,505,877 times
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It looks like rent is on the rise lately. Do you think it will go up, down or stay at where it is at?

Since, the crude oil market crash. There were layoffs in the Oil and Gas industry. Do you think that will help bring the rent down?
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Old 04-16-2015, 12:19 AM
 
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It is not going down it go up a little over the next 2 yrs
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Old 04-16-2015, 05:33 AM
 
Location: Houston, TX
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I don't see rents dropping any time soon.
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Old 04-16-2015, 06:26 AM
 
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No,
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Old 04-16-2015, 07:28 AM
 
Location: Houston/Brenham
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Quote:
Originally Posted by Info Guy View Post
It looks like rent is on the rise lately. Do you think it will go up, down or stay at where it is at?

Since, the crude oil market crash. There were layoffs in the Oil and Gas industry. Do you think that will help bring the rent down?
Typically, when you have softer market, rents will stagnate, or only go up a little, rather than the rapid increases we've seen over the last year or two. But they rarely go down.

You may see some incentives to get people in the door (1st month free, we'll pay to move you, etc), but these will be for new renters. Existing renters get bubka.

It takes a huge market crash (real estate, not stock) to get rents to go down, and it is very unlikely we are in for a crash.
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Old 04-16-2015, 07:40 AM
 
159 posts, read 177,296 times
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Rents should drop with all the new apartments opening
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Old 04-16-2015, 07:45 AM
 
Location: Houston Metro
1,133 posts, read 2,019,017 times
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Houston rents are surging
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Old 04-16-2015, 08:25 AM
 
Location: Houston
960 posts, read 2,749,312 times
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The way to predict that is to look at the number of local vacancies. A lower oil barrel price is not a good indicator despite all the media hype. Also it's expensive to maintain rental properties and taxes so it's not feasible to lower the rent. What we might do when we can't get renters is to update the property and keep the same rental rate or higher.
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Old 04-16-2015, 12:39 PM
 
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"Oil Crash" is a bit overdoing it. Also, NO...rents and home prices won't be going down anytime soon.
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Old 04-16-2015, 12:48 PM
 
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As someone who works in property management I can tell you for renewals expect a 2-6% increase. Lease renewals will almost always have some sort of increase. For new leases I can't see them decreasing, concessions come in waves, summer time has the highest demand/turn over so prices will be at the highest during the summer time.
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