Single Family Renters More Likely to Stay for 5 Years or Longer

Are you considering an investment in rental property but the concern of tenant turnover is holding you back? 

According to a study released on February 25, 2013, turnover in a single family property might not be as high as you think.

According to WSJ's Nick Timiraos, "Some 26% of single-family-home renters said they planned to live in their current rental for five years or more, compared with 22% for renters in multifamily buildings. Three out of every five single-family renters also said they planned to become a homeowner within five years, compared with just 44% of apartment renters."

This is information that most investors owning single family property already know, but it is great to see it solidified in the National Survey of Renters.

 

To read the entire article and see the study visit: http://blogs.wsj.com/developments/2013/02/25/survey-single-family-renters-more-likely-to-stay-longer/