Vacancy Rate and Rental Renewal Efforts:
First Rate Property Management's current vacancy rate is 2.1%, down from last years numbers at this time at 2.6%. One reason our vacancy rate is lower is because of the lease renewal efforts. In the 2011 January through April time frame we had 205 leases ending and renewed 97 of them, a 47% retention rate. This year in the same time frame we had 171 leases ending and renewed 106 of them, a 62% retention rate.
The graph below shows the vacancy rates for the last three years.
Boise Rental Investment Sales Market:
The sales market also continues to improve for both single family and smaller multi-family buildings. It’s a great sign to once again see so many construction vehicles on the road pulling equipment or trailers headed to a build job. To get an idea of what's going on, I thought I would share some of my own activity for the past 8 weeks through Swope Investment properties.
|
Type
|
Location
|
Age
|
Price
|
Status
|
|
Duplex
|
BSU
|
1997
|
$249,900
|
Active
|
|
Home
|
Meridian
|
1998
|
$139,900
|
Active
|
|
Duplex
|
North End
|
1941
|
$168,900
|
Active
|
|
Home
|
West Boise
|
2002
|
$159,900
|
Active
|
|
4 Plex
|
Meridian
|
1971
|
Coming Soon
|
|
|
Home
|
Meridian
|
2003
|
Coming Soon
|
|
|
4 Plex
|
Boise Bench
|
1993
|
Coming Soon
|
|
|
Duplex
|
Boise Bench
|
1993
|
Coming Soon
|
|
|
4 Plex
|
North End
|
1905
|
Coming Soon
|
|
|
4 plex
|
Meridian
|
2012
|
$295,000
|
Pending
|
|
4 Plex
|
Meridian
|
2012
|
$295,000
|
Pending
|
|
4 Plex
|
Meridian
|
2005
|
$314,900
|
Pending
|
|
4 Plex
|
Meridian
|
2008
|
$305,000
|
Pending
|
|
Home
|
Meridian
|
2005
|
$134,900
|
Pending
|
|
4 Plex
|
Boise Bench
|
1992
|
$228,000
|
Pending
|
|
Duplex
|
West Boise
|
1964
|
$244,900
|
Pending
|
|
Home
|
Kuna
|
2005
|
$120,000
|
Pending
|
|
Home
|
Kuna
|
2006
|
$115,000
|
Pending
|
|
4 Plex
|
West Boise
|
2004
|
$274,900
|
Pending
|
|
4 plex
|
West Boise
|
1994
|
$279,900
|
Sold
|
Posted by Robert Waldron for:
Tony A. Drost
http://www.frpmrentals.com/
http://www.boiseinvestmentproperties.net//
First Rate Property Management, Inc
Boise, ID
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