Renters Are Back In Control! Rents Crumble 8%+
The rental market in Northeast Florida continues to deteriorate with rents dropping 8%+ within one year. In some areas, rental rates are down 15%.
NOBODY is talking about it, but it’s real. Tenants are re-negotiating their leaes.
Reasons for Rents Crumbling:
Multifamily overbuilding (and general oversupply)
80% drop in migration (plus return to office)
Sellers panicking, not being able to sell, so they rent
Renters not able to qualify to buy
Renting being MUCH more affordable than buying
Meanwhile, rising taxes, insurance (72%+), and repair costs (30%+) continue to drain cash flow, putting investors in a HARD spot. Many landlords are now losing $500-800/month in cash flow.
Watch this video to see the investments solutions and what to do next from an insider, local expert property manager and top real estate brokerage co-founder.
