CBS Reports: Affordable Rentals Becoming Scarce In The Bay Area

by Christopher 28. April 2011 04:50

Here at Foundation Rentals, we are definitely feeling the upward pressure on rental rates.  Supply is low this rental season and demand high.  We found a CBS reporter shooting footage of one of our "for rent" signs in Peaock Gap and I stopped to chat.  Our feelings on the current market were the same.

CBS reports Hessam Nadji with the Walnut Creek-based real estate firm Marcus and Millichap: "We've had a lot of people displaced from home ownership that are coming back into the rental market," Nadji said. "And the rental market in the past four or five years has not had too much new supply added. Therefore, the vacancies have dropped and the rental rates have begun to go up much faster than anyone anticipated."

So what does this mean for you?  If you're a tenant searching for a home for rent in Marin and you have a $4k - $6k budget, are looking for a nice, sunny, flat street in a good school district, join the crowd.  Get your application ready, be proactive in your search, and be prepared to jump on the right home when you see it.  If you're a landlord with a home for rent in Marin - the market is strong, but don't get a head of yourself.  Homes still need to be priced in line with the market and they absolutely must be cleaned and in top condition to get top dollar. 

Looking for advice?  My team and I specialize in Marin homes for rent.  Call or our office anytime at (415) 507-9600.

Christopher Barrow


Foundation Rentals and Relocation

Read the original CBS article here.

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