Comment about: Phoenix Investment Rental Home, Where's it, How's it look
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| June 24, 2008 | | @Jamie,
From what I have seen and from input from my clients there is not an increase in rental rates in general. The supply of homes is still high and that includes homes that were once for sale and are now for sale or lease.
It seems intuitive that rental rates should go up but they are not.
The areas that are seeing increased rents are the areas of greater density, near freeways etc. but only by a small amount.
I wish rents went up. Even in high demand areas like Hillcrest Ranch in North Glendale where the supply is not high the rates have stayed steady for over 3 years. It's also a trade off. Some owners do get higher rates but have to wait longer to lease the property, in essence probably getting less.
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