I work for a private company that owns over 20,000 apartments. With layoffs residents cannot pay rents and occupancies are decreasing causing rent concessions of one to two months free rent in Florida. Orlando is overbuilt and the rental market is soft with all the failed condos being rented out, this is called the "shadow market" because it is not tracked. Be careful renting out single houses , being a landlord can be rough and a angry tenent can destroy your property. REITS are selling assets now and are having difficulty getting financing. Three years ago you could borrow 90% of the value, now 65% is more likely. REITS will continue to suffer for some time to come. Cavaet emptor
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I work for a private company that owns over 20,000 apartments. With layoffs
Jan 26 10:55 am
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All Comments by applesauce »6 REITs for a 'Recovery Portfolio' [View article]
residents cannot pay rents and occupancies are decreasing causing rent concessions of one to two months free rent in Florida. Orlando is overbuilt and the rental market is soft with all the failed condos being rented out, this is called the "shadow market" because it is not tracked. Be careful renting out single houses , being a landlord can be rough and a angry tenent can destroy your property. REITS are selling assets now and are having difficulty getting financing. Three years ago you could borrow 90% of the value, now 65% is more likely. REITS will continue to suffer for some time to come. Cavaet emptor