Update on the rental market in the mountains

Long term rentals- They are picking up and something surprising is that we are renting $1000 a month and $325 a month units. The units in the middle are having a hard time right now. For the first time owners are reduce the rent on an existing tenant in order to keep the tenant in the unit. Tenants are shopping and negotiating lower rents. Please keep this in mind as leases are expiring on your properties. In March we rented 5 properties and just in the 7 days of April we have leased 2 houses and have 4 more applications that will probably become new tenants.

Vacation Rentals-Here is a very interesting article in the Wall Street Journal about vacation rentals all over the country. This definitely applies to our area. If you can not pull this up then go to http://www.nytimes.com and then do a search for 2009/03/20 second-home owners-everyone into the rental pool.

http://travel.nytimes.com/2009/03/20/greathomesanddestinations/20Rent.html?fta=y