Monday, January 28, 2013


Rental Market 2013

Good news for the Chicago rental market.  In the second quarter of 2012 the Chicago vacancy rate was 4% (lower than the national average of 4.5%), according to the National Association of Realtors.  Vacancy rates below 5% usually constitute a landlord's market. 

Still a great year to buy a rental property if you can find one.   If you own a building already I still recommend tenant retention whenever possible.   If you don't get along with your tenants or they are moving any way, that would be the time to consider a larger rental increase, but you might have to do some work to get more money.

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