Albany NY Investors See rental rates increase.

If you are one of my investor clients you know rents have been going up for sometime. The credit crunch bumped many potential buyers back to renters and spurred rental demand in my opinion. On top of this, we are starting to see more and more "renters by choice". These are a few of the factors working to increase rents in the Albany area. According to a report released by Sunrise Management and Consulting in Latham, the asking rental rates at major apartment complexes have increased 12.5% on average over the past three years to $900/month. I continue to see quality multi family homes sell quickly and be in demand, particularly from downstate investors. If you are interested in creating a passive income using real estate call me to discuss the possibilities.