Rental conditions improve in September

Rental conditions improved recently.

Many commercial property managers experienced strengthening rental conditions during the fall, as income improved. This also may signal strengthening conditions for property management companies in the next year.

Total rental income for those who own residential properties rose 12 percent in September from the same month in 2011, according to a report from CoreLogic. Much of this was due to the steadily increasing rental price level, as well as heightened investment property affordability.

There may be continued tightness in the rental market for single-family properties next year, but this is likely because of the high demand from a lack of significant employment growth and a lack of personal income increases, the firm's December MarketPulse report explained.

Issues remain in the residential housing market, especially regarding mortgages. There are still risks involved for consumers interested in purchasing a home, while policies are not completely clear, the report noted. This may prevent the residential market from taking off. Additionally, mortgage lending conditions are still tight, which could pose problems in that market. This may push some consumers to continue to rent.

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