It's a Landlord's Market

In any economic downturn, there are always opportunities. One such opportunity is the result of higher lending standards, which makes it more difficult for people to purchase homes, as well as a doubling in the number of home foreclosures in the 2nd quarter of this year: higher demand for good quality single family rental homes.

This was my hunch, but it was confirmed this week after receiving a signed lease agreement for a rental property being vacated today. The new lease includes a 5% increase in rent over the previous one and will be the first time I've had no lapse in vacancy upon a tenant's move-out, quite a relief. I've been considering the purchase of another rental property, and after this experience I plan to start researching prospective investment homes.

And watch this to see a disturbing encounter between Will Ferrell and his landlord:

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