Rental Market Madness

Dated: February 19 2014

Views: 339

THE ONLY THING TOUGHER THAN buying a home in Portland right now might be trying to rent one. With citywide vacancy rates hovering at or under 3 percent (among the lowest in the nation), “competitive” doesn’t quite do the situation justice. Some tenants are offering larger deposits—or in some cases slightly higher rent—to make themselves more attractive, according to the Community Alliance of Tenants. “The market has been tight because it’s been a long time since anyone’s built rentals,” explains Jerry Johnson, principal at Portland real estate consultancy firm Johnson Reid. Mix in former homeowners out on their keisters after foreclosure with poor prospects for buying another home any time soon, and you’ve got a recipe for a rental market so tight it’s practically vacuum-sealed. Read More Here...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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