Historically high interest for Knoxville rental properties say property managers. Nationally rents have risen about 12 percent. In the Knoxville area some rents have risen as much as 47 percent. Due to supply shortages, rising material costs, few available homes to rent and a large influx of people moving to the area rents have gone up more than twice the national average creating difficulties for local residents in finding an affordable home to rent. Owner of Asset Realty Management, Michael Cohen and his agent, Broker Mike Yarbrough discuss the current rental market with WATE News.
Property Management Blog
Fiduciary responsibilities to our homeowners and our dedication to our renters is a fine line in which our company owner and broker, Michael Cohen, explains the pros and cons of today’s housing market in a video clip and article with journalist, Allie Clouse with Knoxville News Sentinel article, published ( June 23, 2021) and videography by, Saul Young. In the article, he gives some helpful tips to potential rental applicants in a low vacancy rental market. He goes on to explain how the home buying competition has a direct correlation in today’s real estate sales and property management rental market.
Furthermore, the effects and uncertainty of our nation’s past year have been influential in creating such a challenging market. Our homeowners and investors have varied reasons for choosing our company to manage their home and/or portfolios. Yet, one reason that has gained their continued loyalty especially during a difficult time is how we managed to keep a low vacancy and have kept delinquency rates extremely low (1-1 ½%). This is an economic positive for our homeowners and investors.
We are a full-service Real Estate Sales and Property Management Company. We have a dedicated team specializing in working with rental properties. For more information on the application process, view our applicant information page. Whether you live locally or nationally and considering what options are available to you in today’s challenging market as a private homeowner, investor, or renter in the Knoxville and surrounding area, our team will be happy to assist you.