HOUSTON RENTAL MARKET UPDATE (COVID-19)

Whether you are an active investor with a large rental portfolio or a first time home buyer considering selling/renting out your starter home, you probably are wondering what is happening with the Houston Rental Market during COVID-19. The truth is, the rental market is hot!

According to the Houston Board of Realtors, in May 2020, single-family home rental leases were up 12%, while home sales dipped for a second straight month in May. This coincided with rising Houston rents.

We believe this is due to sellers wanting to hold-off on selling and are deciding to rent their homes until conditions stabilize, which would be increasing the amount of rentals available. The same affect is happening with potential buyers now likely playing it safe and renting for the time being. In May and June 2020, we have had multiple instances of homes being rented within 5 days of being listed.

We also make it safe and easy for renters to schedule self-access showings for vacant properties. This is done by utilizing TenantTurner CodeBoxes and their pre-screening criteria. TenantTurner requires a handful of pre-qualifying questions be answered by the interested tenant as well as a photo ID be uploaded onto their scheduling platform. Once approved, the interested resident can schedule a self-access showing around their schedule. This creates seamless scheduling and less human interaction which is "key" right now.

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