Summer is always the busiest time in the rental business when it comes to leasing activities. It is when most leases expire and the most demand occurs. People tend to move in the summer when they have the time, energy, and favorable weather to do so. This is when rental prices will reach their seasonal peak. The Portland rental market is no different, but for years now we've seen rental prices increase even through slower seasons. This summer things changed.
A question we get asked a lot is “how much should I charge for rent?” It’s a great question and obviously one of the most important aspects of rental property. If you charge too much then you run the risk of having higher vacancy. Charge too little and you leave a lot of money on the table and you are not maximizing your investment.