The Property Manager and the Rent vs. Buy Analysis

The Property Manager and the Rent vs. Buy Analysis

imageThe Property Manager and the Rent vs. Buy Analysis

“Rent vs. Buy”… This is a topic I’ve heard more and more about lately.  While it’s no secret interest rates have been low- and no secret that that translates into historically low mortgage payments and value, I can’t remember seeing any charts on the subject until recently.

Following a cue from fellow ActiveRainer Jeremy Wrenn, I joined a BNI group a few months ago.  I’m assuming my group is much like any other in that we have folks from a number of industries.  We’re blessed to have a great “sales-type” Realtor that’s now our chapter’s president-elect, and we also have a great representative from a mortgage company that can help anyone looking to make a purchase in the near future.

So what’s the problem?  Well, my problems are three-fold, really.  I’m not looking to purchase in the near future- and being in the property management business has me hoping that my customers aren’t looking to purchase in the near future, either.

And the third issue?  An ethical one in choosing how to respond when a tenant prospect asks “Is it cheaper to buy or to rent right now?”  How do you answer a question that could very well send business elsewhere?

The Property Manager and the Rent vs. Buy Analysis

Every week, the Realtor and mortagage guy in my BNI group mention how they’re offering folks free Rent vs. Buy analyses.  They seek business from folks any of us might know that are currently renting and looking to buy- or folks getting ready for a move that may be considering whether buying or renting is their best option.

Wait!  Those are my customers!  How do I keep my customers and help folks in my networking group?

For now (and I suspect forever), I will continue to furnish both customers and clients alike with the most complete and accurate information I possibly can.  I don’t really see another option- as I have an obligation to serve the public even when it doesn’t serve my own financial interests.

So what say you?  If you’re a property manager, do you provide folks with information on whether it’s best for them to rent or buy?  Do you act as if the market’s unchanged?  Or do you look to accentuate the fact that rent vs. buy analyses don’t always include costs such as association dues and/or the risks involved when assocations become  insolvent, etc.?

The Property Manager and the Rent vs. Buy Analysis

Rent vs. Buy

 The Property Manager and the Rent vs. Buy Analysis

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About Dennis Burgess

Dennis B. Burgess Realtor in Orlando, FL ORRA Vice-chairman of Strategic Planning/Secretary ORRA/FR Boards of Directors Empire Network Realty 6000 S. Rio Grande Ave., #104 Orlando, FL 32803 Cell: 205-445-4755 Office: 407-440-3798 bamaburgess@hotmail.com Twitter: @orlrentals Turning vacant into occupied, and "houses" into "homes"
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