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Rents in Charlotte Still on the Rise

Matthew Tringali - Wednesday, March 15, 2017

The Charlotte Observer put out a very well researched article on the current market trends for apartment rental rates. Single family homes are following that same trend and rental rates are going up significantly. I suspect as mortgage interest rates also continue to rise it will take more homebuyers out of the market to buy a house and into the market to rent a house. The demand for rental property will remain on the rise. For several years there have been institutional investors buying up thousands of single-family property and turning them into rentals. It has been challenging for the Mom and Pop investor to compete on price. Five years ago landlords were shooting for 10% cap rates and now they need to be happy with 6%. But, with rental rates continuing on this trend, I think rental property is still an excellent buy for the small local landlord.

http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article137740298.html

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