A recent survey suggests that landlords for both small and large properties are experiencing better results than during the same period last year.
The study from TransUnion asked 1,248 property managers about results so far this year in terms of attracting tenants and rent prices. Forty-eight percent of respondents said that they have seen prices increase at the majority of properties compared to last year. In addition, 73 percent said that they did not find it difficult to find suitable tenants.
"Data throughout the last year has pointed to a healthier rental market, and our survey helps validate the current strength of the rental industry," said Steve Roe, vice president, TransUnion Rental Screening Solutions. "The rise in rental prices, coupled with a decrease in vacancy rates and the ability to attract new residents with less effort are all positive signs for the market and rental property managers."
In some markets, the office occupancy rate has improved. According to figures from Cornish & Carey Commercial Newmark Knight Frank, Sacramento's vacancy rates dropped to 23.46 percent in April-June, lower than the previous quarter’s 23.74 percent.