As with homes for sale, homes for rent are a hot commodity
For over a year the real estate market has been booming with many homes for sale being purchased within days or even hours of listing. The same situation is currently taking place in the rental home market as well, and there are more people looking to rent than there are homes available.
The United States Census Bureau estimates that between the years of 2015 and 2019, 31.7% of all households in Carter County were rentals with a median monthly rent was $773 during the time period.
Shelly Clements manages approximately 200 rental properties in the area with Property Management Solutions, and she estimates the current median rental price in the area is around $800. However she pointed out there are many homes that rent for substantially more than that, but finding one less expensive is difficult.
She said the majority of renters are looking for homes with two bathrooms, a feature that is not often available.
"It's very seldom that we have a rental with two bathrooms available — especially homes with three bedrooms and two bathrooms," Clements said. "We don't have enough rental properties available period, but three bedroom, two baths are the hardest to come by."
Clements said that she typically sees between 30 and 40 people show up at open houses for rental properties, however when it's all said and done she'll usually get around ten applications.
Another factor that makes finding rental properties difficult for some renters is finding a property that allows pets.
"Pets are a big thing in the renter market," she said. "Lots of people don't want to rent to someone with pets, but lots of renters want to have them. So it can be tough trying to find a place."
She offered up some advice to those looking to rent a home in the near future.
"To me, communication is the number one thing, and I would couple that with being punctual," she said. "I really don't know if people are going to do what they say they're going to do, so all I can base that on is if people show up when they say they're going to. If we agree to meet at 2 p.m., that's when I expect you there.
"It's also extremely important that you communicate with your property manager or landlord. If you're not communicating with me if something goes wrong, then I can't fix it or even know there is a problem."