This morning I received a call from the agent managing a rental property for me. First instinct was that there was a repair required with an outflow of funds from my pocket.
Instead, 4 months into the 6 month lease the tenants want to sign a 12 month lease with an increased rent a little over 10%. These people are highly educated and are doing pretty well in life. I am relaxed about the whole thing but it does make you wonder that the rental market may be tightening.
In the limited area I own in I don't see too much trouble in relation to movement of stock and reduction in prices, in fact, a few nice surprising sales and lots and lots of refurbs of older houses and new houses going up.
The market is the most fragmented that I have ever seen throughout the country which make expansive statements of any kind of the distinct knucklhead variety.
If I was offering any advice it would be to get out and look at what is going on and adjust strategy accordingly, know your areas and read HC property posts from an entertainment perspective only.
