CEO's of the largest companies renting out single-family homes say they plan to raise rents up to 5.7%this year, as they switch their focus from buying more properties to optimizing revenue from the thousands of homes they already own. According to Bloomberg, they want to take advantage of an increased demand for rental homes.
"In the 2015 rental season, we're really seeing the ability to move rents" says David Singelyn, chief executive order of American Homes 4 Rent at a recent conferene in Miami Beach. The company is one of the nation's largest publicly traded, single family landlords, with about 35,000 homes.
Tom: SW Florida seasonal and annual rental homes are in very short supply and high demand (the two usually go hand in hand). All indications are that this trend will continue into the foreseeable future. As we have advised often: "if you want to rent a nice rental home for any weeks/months in season of 2016, please book it yesterday". The best homes are booked a year or more in advance.
If you are unsure as to whether home prices have stabilized, this article should help clarify the uncertainty. As reported earlier this year, we are expecting double digit appreciation to return to SWFL home prices after a lull in 2014 of only 7.5% rise in home prices.