As more and more people are being forced out of their houses, I see an interesting trend in rental prices. They are increasing. Supply and Demand dictate what rent can be charged for a property. With so many people losing their house do to foreclosure or ARMs that adjusted so high that they cannot afford to stay, people are turning to renting in large numbers. I know that a nice 2bd, 2ba property in a good neighborhood in Memphis should easily rent for at least $750 per month. But, since more people are looking for them, a landlord may be able to get $850 or $900 if he should make his property more attractive to the renter. I will be providing Refrigerator with Ice maker and water dispenser, Washer and Dryen in the condo, Tile floor in Kitchen along with Dishwasher and Disposal and onsite pool. The den has a wood burning fireplace also. I expect to rent my unit for $850. My note PITI and association dues are $500. I should cashflow positive $350 per month on just this one unit. Not bad.
