Property Management: Rental Market in Bend Still Strong

The strong rental market in Bend, Oregon continues to pay real estate investors well with rising rents, low vacancy rates and solid appreciation.  The Central Oregon rental market has been getting stronger for the last couple years but it’s not too late for investors to take advantage of today’s market conditions.

Read about continued strength in the rental market for Bend real estate investors as of October 2013

Demand is strong.  Would be first time home buyers are still having problems buying homes.  For the past few years the problem for home buyers who aren’t well qualified has been tight lending standards.  While lending guidelines are still pretty strict, they have loosened some over the last year.  Although it has become a little easier to qualify for a mortgage, rising home prices have countered that by pricing some out of the market.  Also adding to demand for rentals is the number of people moving to Bend.  I would estimate that a third of the calls that we have received for rentals this Spring are from people moving to Bend.

Rents are still rising.  With such strong demand for rentals we are raising rents, on average 5%, each time a lease expires.  Despite the rising rents we aren’t having any problems finding good tenants.  In fact, we are getting multiple applications for most homes.

No lengthy vacancies.  Our rentals are being occupied as fast as we can get one tenant out and the next one in.  In most cases that means the house is vacant just long enough to clean the carpets and let them dry.

This is a great time to be a real estate investor in Bend.  Whether you already own a rental home or are looking to buy one, Preferred Residential is uniquely qualified to help investors maximize return on investment in the Bend real estate market.  From purchase to property management to sale we are a full service real estate company and we’re just an email or phone call away at (541) 508-2930.  Read more about the Bend Oregon Property Management Services we offer.

About Dan Seim

Dan Seim is the primary contributor to Preferred Residential's blog. He has been writing about real estate issues that affect home owners in Bend and Central Oregon since 2011.