There is a good article on the Denver Business Journal’s Site today that talks about the tight rental market in the Denver area.
With the high number of Denver Short Sales and Denver Foreclosures over the past 2 years, many people have been forced to rent. This increased demand has helped landlords with the vacancy rates and rental rates are climbing.
For those with the ability, this is a great time to buy investment property to rent.
Check out the entire article on their site (link below):
Vacancies and rental rates continued to drop in the third quarter for rental homes in the Denver area, as consumers continued to rent homes rather than buy them, according to a Colorado Division of Housing report released Tuesday.
The period’s 2.9 percent rental-housing vacancy rate was the lowest for a third quarter since the “Metro Denver Area Residential Rent and Vacancy Survey” was started in 2001.
“It is clear that the demand for rental houses continues to tighten, as families seek an alternative to purchasing a home. … Families, especially those with pets and children, are looking to live in single-family homes and similar properties,” Ryan McMaken, housing division economist and spokesman, said in a statement.