Quarter 2 Rental Update!
NARPM’s Quarter 2 Vacancy Update is out and RMA wanted to share with you the recent trends we are seeing in different parts of the Treasure Valley in the rental market.
To summarize, leasing in Ada county is healthy and we are seeing the best rent prices we’ve seen since Q1 of 2022. Canyon county is not doing as well as Ada county, vacancies are reportedly higher. Please see the summary directly from the report below for more details:
“The data collected indicates that the trends in Ada & Canyon vacancy rates have increased by 0.8% from the 1st quarter of 2024 to the 2nd quarter of 2024. The market vacancy rate decreased from the 2nd quarter in 2023 to the 2nd quarter of 2024 by 2.16%. The vacancy rate for the 2nd quarter 2024 is 3.47% Ada County single family marketed rental rates increased this quarter by $85 per unit in monthly rent cost. While multi-family units in Ada County increased by $72 in the 2nd quarter of 2024. The overall marketed rent per unit decreased by $70 in Ada County making the average marketed rent rate $1,900 per month. Canyon County single family marketed rental rates increased this quarter by $132 per unit in monthly rent cost. While multi-family units in Canyon County decreased by $196 in the 2nd quarter of 2024. The overall marketed rent per unit decreased by $109 in Canyon County making the average marketed rent rate $1,571 per month. Ada County multifamily rentals are averaging higher than their equivalent units in Canyon County. Rental rates in Canyon County and Ada County increased overall. Overall, vacancy rates increased and rental rates declined, demonstrating a continued slowdown of the rental market.”
For more information and other fun property management interests, please consider following RMA on our new LinkedIn page. We provide lots of great information for owners and tenants! We would love to get a follow from you!
Maintenance Updates
The optional maintenance survey’s are in and filed! This survey is your opportunity to select services for your investment property in 2024, to maintain the integrity of your property.
Services being completed in September:
- Dryer Vent Cleanings
- Whole Home Inspections
- Crawlspace, Attic, and Roof Inspections
The maintenance updates only apply to those of you who have pre-ordered preventative maintenance services. If you didn’t opt in for a service you read about in this newsletter, and would like to schedule a service, just email your property manager to let them know.
Other questions? Please email your property manager!
Mark Hess– mark@rentalsinboise.com
Deeanna Windes – deeanna@rentalsinboise.com
Accounting Updates
If you ever have questions about your statement, please contact your property managers:
Mark Hess, mark@rentalsinboise.com
Deeanna Windes, deeanna@rentalsinboise.com
If you have trouble logging into your client portal, please contact your property managers or Brandy Ker at brandy@rentalsinboise.com.
Tenant Update
This month’s tenant newsletter reminds your tenants of the important things to do to keep their lawn in great condition as summer comes to a close and we prepare for Fall.
Check out our tenant newsletter this month:
https://rentalsinboise.com/property-management-blog/september-2024-tenant-newlsetter/