July and August have been some of the most interesting months in the landlording business that I have seen in a decade. The Willamette Valley in seeing a huge influx of people moving in from all over the country with California topping the list.
The added pressure has pushed prices up, but we have peaked and are leveling off and even falling a little. Not to worry, we think that rental rates are going to hold out, but the trouble come with lots of unqualified applicants looking for any place to live.
In the past, it was common for Empire to approve an application within 3 sets of applications. Today we are seeing several properties experience longer vacancies with us going through 6-7 sets or more applications before we can find the best fit for the property.
Other than the longer vacancies this creates, Empire is committed to getting the best tenants for your property. We have never evicted a tenant we have chosen in 18 years of business.
Sometimes it is tough to hold out, but just watch this link (hold your stomach) and you will be reminded why we stay the course.
James (Ed) Waggoner