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Rentals & Market Updates in Boise
Boise Valley rental Market update:
Below is the graph showing that our current vacancy is just under 2.5%.  Currently the Boise Bench area is our highest area of vacancy at 4.6% with Eagle right behind it. The bench typically is a bit higher than the other areas. Eagle is a great place to live and the single family homes always do well in this area, however I find that multi-family vacancy in Eagle is always a bit higher.  Most apartment dwellers choose location to be close to school or work and there are few low paying jobs in Eagle.  Also, single family homes all over the Boise area are renting up like hot cakes right now.
 
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Rent Increases:
Based on the market data, First Rate Property Management has been increasing the rents on tenants that are month-to-month or expiring within the next two months.  This has caused some irate tenants. Some have given notice to vacate while others call to complain.  In both cases we explain that they are not paying over market rent. If it looks like we are going to lose the tenant and we aren’t too late, we are calling the owners to discuss options.


Boise Real Estate:
It’s been a busy 2 months for me already. From my viewpoint, there is a ton of activity.  I have been showing single family homes to one of First Rate Property Management’s leasing agents and the good (ridiculously low priced) houses are gone within a few days of being listed.  Prices on single family homes are still very low.  On the income property side, I’m still focusing mostly on 4 plexes as the current prices still make these great performers.  Again, I am seeing a lot of activity and the good ones are going fast.

Tony A. Drost

http://www.frpmrentals.com/
http://www.boiseinvestmentproperties.net/

 

03-07-2011
Tony Drost
Boise Area Rental Market
08-29-2016

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