November Vacancy for Legerity Property Management
The holiday season is officially upon us and immediate demand for rental housing is nearing its customary low for the year. It always surprises me how few property managers and landlords make a significant effort to avoid vacancy as much as possible in these slowest months of the year. I’m very grateful that all the investors and homeowners I work with have been quite open to my efforts to coordinate lease renewals in more favorable months.
As a result of those efforts, November’s vacancy rate was 1.7%, with the 2012 average vacancy rate staying steady at 1.13%. 2011-2012 history illustrated below.
Boise Property Management Vacancy Rates
November Renewal and Rental Rates for Legerity Property Management
November had a 50% renewal rate with an average 4.7% increase in rents among renewals and new leases. For 2012, Legerity Property Management’s renewal rate currently sits at 61.11%.
