A note from Keith Miller at Miller Long Term Rentals
The demand for long term rentals has been very good since August 2009. Our problem is we don’t have many available rental properties under the rental rate of $2,000/month. [typically homes between 1,800 sq. ft to 2,400 sq. ft.] We feel that prospective buyers are NOT taking advantage of the low interest rate and lower sale prices. We feel that prospective buyers who eventually want to move to the area can buy today and rent the property to help offset some of their carrying cost until they are ready to make the move to Hilton Head.
Rental forecast is strong
We feel that this trend, shortage of available rental properties, will carry into the future, as short sales and foreclosures unfortunately continue into the future, causing more demand by people losing their homes. As well, potential buyers are being forced to rent because they no longer qualify for Bank financing under the more stringent requirements today.
Contact Keith at: