Exit of small landlords is the real issue in the rental market (2024)

Sir — The piece by Niall Toner on May 15 on the rental market (‘The only way is up’) stated that the latest Daft.ie report “made grim reading for renters” and quotes a range of numbers as if they were rents paid by the average sitting tenant in Ireland — that is, the more than 300,000 registered rental units in the State.

While the Daft.ie Rent Report headlines with an 11.7pc inflation rate, this rate actually applies to only a tiny percentage of the market: those available to rent at a point in time.

The statistics in the Daft report are based only on properties advertised on Daft.ie for a given period — properties with no sitting tenant and available for rent, supply of which is dominated by the large investment funds.

However, rents for most tenants are remarkably stable.

The average rate of inflation for sitting tenants over the past year was 2pc.

Thankfully, Daft.ie reports are now starting to highlight the difference in rents between sitting tents (over 99pc of the market) and available rental properties.

On May 1, there were just 851 homes available to rent in the entire country.

While the reality is that rents are very stable for the vast majority of tenants, supply of new properties to rent is too low.

This brings me to the real issue in the rental market — which Niall Toner gets to near the end of his piece: the run-rate of exits of smaller private landlords from the market.

Currently, more than 600 landlords are leaving each quarter and the supply of new rental properties from investment funds is not replacing those lost from smaller landlords exiting. They are leaving due to three main factors: overburdensome regulation, penal taxation treatment and vilification of landlords.

Left-wing parties, which have demanded the regulation and are doing the bulk of the vilification, will tell you landlords are “cashing out”.

Not so. Returns on other asset classes are negative or extremely low, so it makes no sense to move from investing in residential property to holding cash, shares or bonds — unless the market reality of being a landlord is simply too much trouble, which it increasingly is for many.

Mark Mohan, Castleknock Dublin 15

State’s rural clearances are a national disgrace

Sir — Are we too late to protest at the “clearances” being carried out in rural Ireland by successive governments in Dublin?

Unfortunately, much of the fabric of rural Ireland is gone, but let us fight for what is left. Successive governments have kept making small farms and small enterprises unviable. Planning permissions for the “new house” were rejected by council planning departments. The mantra was “get the rural population down” — and then close down the one-teacher school.

Now they have decided farming should be stopped. One party leader used a statistic that 1,300 people in Ireland die from smoke inhalation from turf smoke. Turf smoke? In an Irish countryside where they have closed the houses?

My town of Elphin, Co Roscommon, is the only parish in the county that suffered a drop in population in the last census. The town centre is denuded of people, where once we had a vibrant township.

Before the last election, I said Roscommon would not return a TD from any of the main-flow political parties, and I was proved correct. There always was a protest vote in Roscommon, back to the days of Count Plunkett.

But now the powers-that-be have taken much of north Ros- common and tagged it on to Sligo. The rural areas of Boyle and the villages nestling in the Curlew Hills have little in common with a city like Sligo.

The inability of parishes to field senior football teams is symptomatic of the decay perpetrated on us. It’s 40 years since a north Roscommon parish (Kilmore) won a senior football county final.

This depopulation of Ireland’s towns and villages has been more effective than the post-Famine land clearance carried out by the British — and it has been done by our own.

Seán Neary, Elphin, Co Roscommon

Greens’ decisions on energy are a red flag

Sir — The majority of households and small businesses in Ireland are struggling with the cost-of-living crisis on multiple fronts. Against this backdrop, Ireland is facing an existential threat to the cost of food and its energy security.

Despite these significant challenges, our Government has failed to address these seismic issues in any meaningful way. The energy crisis is made worse still by the Government’s policy on energy, which is imprisoned by the narrow ideological position of the Green Party. It is now clear the Greens are wielding the power in government on key energy policy decisions.

The Government seems happy to proceed on this basis, as it means holding on to power and their ambition for a full five-year term, in spite of the potential consequences of doing so.

The Green Party’s ideology has been laid bare since the Russian invasion. After all, their policy means closing down our own national resource supply of oil and gas, meaning we must import from anywhere that will supply us, at whatever price is dictated by exporters — including Russia. Such a policy approach may go down well at Green Party meetings, but it will send this country and our people down a dangerous path.

Change is needed. Ireland must have the option of developing its own oil and gas supplies in the Celtic Sea at Barryroe, where industry projections indicate there are 365 million barrels of oil and gas. That gas has currently been accepted as a transition fuel to green alternatives.

Government policy ignores that we will continue to need natural gas to anchor our electricity network for a long time to come. Importing the fuel will not only create a much larger carbon footprint, it will be costlier and leave us extremely vulnerable to supply and price shocks.

So far, the only political group in Dáil Éireann to raise these concerns has been the Rural Independent Group.

Continuing down the current path means the cost-of-living crisis will only worsen. And when energy supplies run low, we are at the end of the pipeline, so fuel will probably be reduced to a trickle.

The only logical route available is to detangle the Government’s mistaken energy policies and ensure the development of Barryroe oil and gas, which, after all, is environmentally superior to what is being imported todayand would harness the required energy security while reducing the costs for everyone here.

John Hanafin, General secretary of the Rural Independent Group

Countryside forum will be Dublin’s echo chamber

Sir — Fine Gael, in an act of political opportunism, is fluttering its political eyelashes at Ireland’s rural community.

The party has set up a National Agricultural, Food and Rural Development Forum to provide a platform for discussion and policy formation on matters pertaining to rural affairs.

That might sound positive, but Fine Gael co-opting an ex-IFA president (Eddie Downey) as chairman sets the tone for the establishment of yet another echo chamber of big farmers. What rural Ireland needs is local and national politicians who can articulate the views of those of us who live in the countryside and who understand and engage with modern thinking.

The Irish countryside does not rely solely on farming and hunting interests.

John Tierney, Co Dublin

Time to crack down on the whip system

Sir — The disciplining of two Green TDs for backing a Sinn Féin motion on the National Maternity Hospital has again focused attention on the role of the draconian whip system.

While one might justify the cracking of a proverbial whip to push an emergency measure or maybe a Budget through the Dáil, this antiquated and oppressive method of coercing elected representatives to toe the party line is a relic of another political era.

Free votes are commonplace in the UK parliament, and the sky doesn’t fall on England if a proposed government measure is defeated now and then.

Here, it is rare for a party to recognise a politician has a conscience, quite apart from any political calculations as to what course of action will win a few votes or avoid losing any.

The whip system is undemocratic in that it often brings about a voting result that does not reflect public opinion or runs counter to what people want.

Given the reluctance of the parties to decommission their whips, I would like to see more TDs defying this legalised bullying when other issues come before the Dáil and the majority view is ignored.

Sometimes in politics, as in life generally, you have to do what you know is right as distinct from what is profitable, self-serving or politically expedient.

John Fitzgerald,Callan, Co Kilkenny

Baffled by the great mysteries of GAA

Sir — I need a few answers. Why is approximately one-seventh of a football pitch made redundant for a kick-out? Why do so many players aim for the clouds rather than the goalposts?

Why does a referee penalise a defending player when his opponent, in possession of the ball, charges into him and collapses (in hurling and football)?

Why do referees appear to help the losing team with easy frees and a little extra time “to make a draw of it”?

Putin would probably give as good an answer as anyone as to why we still have this cursed, spoilsport “mark” in football.

Michael Teehan, Moyglass, Co Tipperary

Council gone to the dogs over beach ban

Sir — I’m writing to vouch for the innocence of my faithful four-legged friend Jake, who is to be barred by a “dog in the manger” decision of the local authority from his daily walk on Fenit beach between 11am and 7pm from June 1 to September 15.

Jake is a golden co*cker spaniel who keenly anticipates his daily exercise on Fenit, where he enjoys shooting the breeze with his canine and human friends.

He minds our clothes while we are swimming at Fenit bathing slip and discourages man and dog from approaching our belongings. He has a tough growl, though he is all bark and no bite!

Jake poos on a designated spot on our lawn, but if he has to go on his walk he insists thatI bag the excreta and drop the contents into the litter bin. He has me well-trained in beach cleanliness and regularly whines about the amount of litter left on the beach by humans.

Billy Ryle, Tralee, Co Kerry

We’ve been shortchanged on €200 energy credit

Sir — Over the last few months, we’ve all heard about the €200 credit we would be receiving on our electricity bills.

I received my electricity bill from Energia last week and was expecting the €200 government credit to be included. I looked at my bill, but instead of €200 credit it was €192.08 credit (including VAT). I rang Energia and was told the reduction in the credit was due to the reduction in the VAT rate. I realise that the difference is just €8, but come on. This is not acceptable.

We poor consumers are being taken for fools when a €200 reduction can become a €192.08 reduction just like that.

David Riedy, Newcastle West, Co Limerick

Let’s see a lot more honours for women

Sir — The fact that so few females have been granted the honorary freedom of Dublin and Limerick speaks volumes.

Truly, it could be argued this is in the main due to the dominance of males in society. This despite the fact that women have played such an important part in advancing the civic, political, economic and cultural aspects of our society.

Rose Rice, in her interesting letter of May 15, stated that only seven females have been accorded the honour in Dublin, which is currently just two more than Limerick.

Limerick Corporation only conferred the Freedom on the Hon Ishbel Maria, Countess of Aberdeen (wife of the Earl of Aberdeen, governor-general of Canada) in 1894 after they made sure there had been a precedent established.

This precedent was suffragist Margaret, Lady Sandhurst, honoured by Dublin five years earlier. It is not before time that more women were accorded this honour.

Dr Tadhg Moloney, Gouldavoher, Limerick

UL is a hedge school in a banana republic

Sir — As universities receive little attention in the media, they rarely come to the attention of the public at large, but they receive huge sums of taxpayers’ money nonetheless.

So when the Public Accounts Committee (PAC) makes negative comments about some of them, we would do well to listen.

A week ago, the University of Limerick (UL) presented its financial statement for 2020 to PAC through its president, professor Kerstin Mey, and its chancellor, Mary Harney. Those who have been following this almost decade-long saga will know UL has already been judged harshly in this forum. TD Marc MacSharry observed a year ago that UL’s management was akin to that of a “hedge school in a banana republic” and whistle- blowers had been “thrown under the bus”.

The C&AG stated that, if he had been able to, he would have “walked away” from an earlier audit of UL accounts.

On May 12, PAC chairman Brian Stanley said UL’s refusal to make available a key report from KPMG on an €8m property purchase “makes a nonsense of procedures at UL if this is how business is done there”.

Ms Harney began her reply: “That may be the case…” Fellow member, TD Verona Murphy, took from the UL president’s opening statement in presenting the accounts that the university was “striving to be the bottom of the best as opposed to the top of the worst”. She accused UL managers of “backslapping over the fact there are universities worse than theirs”.

These are shocking judgments for the Irish university world to hear. The State has the power to order an inquiry into these troubling matters, but for reasons best known in the Higher Education Department, it has declined to do so. Sadly, the reputation of academia in general, already weakened, will be further damaged by them.

Jeremy Callaghan, Caherconlish, Co Limerick

Gambling is ruining the sporting world

Sir — Allegations of match-fixing in the League of Ireland and betting irregularities leave me wondering if corruption in sport has become pervasive.

The idea that players and entire teams could be conspiring to rig games, takekickbacks and betagainst themselves is shocking and destroys any credibility sport has left. The only way to stop the rot is to decommercialise sport as much as possible, rather than let it fester as the casino it has become. There is hardly a sport anywhere where doubts don’t remain over results.

The world of sport is fast becoming a world of crime, and it’s all driven by gambling.

Maurice Fitzgerald, Shanbally, Co Cork

Secular regimes led to totalitarianism

Sir — In discussions of the new maternity hospital, there was a strong undertone calling for the “liberation of Irish society” from the influence of religion-based morality.

Further, there was an almost uncritical praise for an exclusively secular society in Ireland.

While admitting the wrongs done by some religious groups and leaders in the past, this does not reflect the enormous contribution of various religions to the well-being and service of all people, at home and abroad.

In my lifetime, there have been two exclusively secular regimes in Europe — Stalin’s USSR and Hitler’s Germany.

I cannot help but feel society needs the influence of churches and religion in relation to moral and ethical issues.

Mícheál Mac Greil, Cathair na Mart, Co Mhaigh Eo

Exit of small landlords is the real issue in the rental market (2024)

FAQs

How many people in America are landlords? ›

Based on these data, I estimate that in the United States there are between 10 million and 11 million individual investor landlords managing an average of two units each, many with just one unit.

Why are landlords leaving the rental market in Ireland? ›

Why are landlords leaving the market? Increased regulation, high taxes and tricky tenants are top of the list.

How many units do most landlords own? ›

Half of All Landlords Manage Their Own Properties

On average, landlords have three properties to their name. Of those who own the units, it's about a 50/50 split when it comes to just being the owner and handing management over to someone else, or owning while also managing the properties.

Why is being a landlord problematic? ›

Challenges that come with owning a rental property include finding a suitable property, preparing the unit, finding good tenants, maintenance issues, hassles that arise, and changing interest rates impacting the rental price.

How old are most landlords? ›

While most rental property owners were senior citizens, today's landlords are as young as 40 years with 27% between 30 and 40 and 8% 20 to 30 years old. However, factors such as race and gender affect the average age of landlords.

Where are the most renters in the US? ›

Many residents in Northeast states are renters. The company IPX1031 found in a recent report that the highest percentage of renters in the U.S. can be found on the East Coast.

Why is there a rental crisis in Canada? ›

Dismissing Canada's rental crisis as nothing but a supply-demand issue overlooks the fact that a small group of landlords dominates the rental market and exploits tenants. As rents become extortionate, Canadian landlords are reaping record profits.

Who are the largest residential landlords in Ireland? ›

Across the intervening years, I-RES REIT has grown into Ireland's largest private residential landlord. Today it owns around 4,000 residential rental accommodation units, predominantly in Dublin but also in Cork.

Why are landlords selling their properties in Ireland? ›

Increased regulation, high taxes and tricky tenants are top of the list. High property prices have also made the idea of selling more appealing for some. Mr McDonald pointed out that many home owners are 'accidental landlords'.

How much profit do most landlords make? ›

The amount will depend on your specific situation, but a good rule of thumb is to aim for at least 10% profit after all expenses and taxes. While 10% is a good target, you may be able to make more depending on the property and the rental market.

Who owns the most houses in the US? ›

John Malone is the largest private landowner in the United States. Malone made his fortune as a media tycoon, building the company Tele-Communications, Inc, or TCI, and acting as its CEO before selling it to AT&T for $50 billion in 1999.

What percentage of Americans rent? ›

(According to the Pew Research Center, about 36 percent of American households rented, rather than owned, their homes in 2019, the last year that reliable data was available from the Census Bureau.) Moody's first started tracking the metric in 1999, when the typical rent-to-income ratio was 22.5 percent.

What did Adam Smith say about landlords? ›

As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed and demand a rent even for its natural produce.

What did Marx say about landlords? ›

It is reasonably well known that Marx suggests on many occasions that landlords in the capitalist mode of produc- tion, due to their extraction of part of surplus-value in the form of rent, constitute an obstacle to the penetration of capital in agriculture and to the accumulation of capital.

How long do most renters stay? ›

So, how long does a Tenant stay? A quick google search will tell you that for a single-family rental in the United States, you should expect an average tenancy to last about 3 years. And a multi-family/apartment should stay occupied for roughly 2.5 years. So now you have a benchmark by which to judge your performance.

What is the hardest part about being a landlord? ›

There are many costs of owning a rental property, including maintenance costs, mortgage payments, property management costs (if you choose to hire a company), insurance, etc. Being a landlord for the first time means that managing all of these expenses can be difficult, and even overwhelming.

Who is the youngest landlord ever? ›

Willow Tufano is America's youngest landlord.

What state do people rent the most? ›

California had the most renting households with 5.73 million, or 13.6 percent of the nation's 42 million rental homes. Tenants in California make up 44 percent of households in the state, the third-largest share of renters behind. D.C., at 58 percent, and New York at 45 percent.

What is the highest rent city in the USA? ›

The most expensive rental market in the US remains to be New York. The average monthly rent for a one-bedroom is roughly $3,260. This is about a $500 decrease from 2021, however as demand continues to increase prices are likely to follow.

What US state has the most expensive rent? ›

Analysis by Redfin showed prices increased by 14.1% over the year in 2021 and 7.45% in 2022. With real wages falling by 1.3% in the last year there is an intense squeeze on purse-strings. California is no exception and has the highest average rent prices in the country.

Why is Canada so expensive to live? ›

Canada is so expensive due to factors like its strong economy, the effects of Inflation, and currency value. Shipping and transportation costs are higher due to its remote areas and long distances between cities. The strong Canadian dollar and high taxes contribute to the overall cost of goods and services.

Will houses ever be affordable again in Canada? ›

Starting in 2023 or 2024, we expect prices and sales to rise again and forecast inflation to hit its 2% target by the end of 2025. Mortgage rates are expected to become more affordable after 2023. These changes, along with renewed growth in income and employment will support housing demand and supply.

Is there a lack of housing in Canada? ›

Yes, there is a shortage of housing due to foreign buyers and the surplus of short-term housing rentals. Many foreigners purchased property in Canada as an investment, not a place to live. Naturally, this reduces the homes available for Canadians.

Who is the largest private landlord in the US? ›

The 2022 Land Report 100, compiled each year by The Land Report magazine, released its annual list of landowners who own the most acres in the United States. The nation's largest private landowners are the Emmerson family in California who own over 2.4 million acres.

Who is the biggest single-family landlord? ›

Invitation Homes, the nation's largest single-family rental landlord, is slowing its acquisition pace and lowering profit estimates because of higher inflation and increases in tenant turnover and tax rates.

Who is the worlds largest residential landlord? ›

The world's largest private landlord, Blackstone, holds more than $300 billion in real estate assets under management (AUM). In one deal this past June, Blackstone bought 17,000 single-family homes across the US to extract rental income from tenants.

Why selling is better than renting? ›

Selling your home might be the better option if you need the money to pay for your next home, have no interest in being a landlord or stand to make a large profit. Renting it out might be a better choice if your move is temporary, you want the rental income or you expect home values to go up in your area.

Why is rent in Ireland so high? ›

Rents are expected to rise this year due to the high level of demand and input cost inflation, such as soaring energy bills, for constructing units. The viability of new apartment development is a key concern for the real estate market in Ireland this year, according to commercial property specialists CBRE.

Is it worth buying property in Ireland? ›

Should you invest in property in Ireland? Whether you're a first-time or experienced property investor, buying a property in Ireland is a great idea. There are plenty of practicalities to investing in a property in one of the most sought-after towns in Ireland.

Can you become a millionaire from rental property? ›

Becoming a millionaire from real estate investing isn't as far-fetched as it may seem, but it's not an easy goal to reach. You shouldn't expect it to happen overnight, but it is achievable. If you have the right knowledge, develop a plan, and be persistent enough, you can become a millionaire real estate investor.

What is a good monthly return on rental property? ›

Generally, a good ROI for rental property is considered to be around 8 to 12% or higher. However, many investors aim for even higher returns. It's important to remember that ROI isn't the only factor to consider while evaluating the profitability of a rental property investment.

What is the 2 rule in real estate? ›

2% Rule. The 2% rule is the same as the 1% rule – it just uses a different number. The 2% rule states that the monthly rent for an investment property should be equal to or no less than 2% of the purchase price. Here's an example of the 2% rule for a home with the purchase price of $150,000: $150,000 x 0.02 = $3,000.

How many Americans own 2 homes? ›

How Many Homes in the U.S. are Second Homes? Through our analysis we found that there are at least 2.64 million second homes in the U.S. that are for seasonal, recreational, or occasional use. How many homes are there in the United States?

What family owns the most land in the US? ›

1. EMMERSON FAMILY. The nation's largest private landowners, California's Emmerson family, are a prime example of this trend. Through their Sierra Pacific Industries, the Emmersons increased their landholdings by more than 100 square miles to over 2.4 million acres.

What percentage of US citizens own their home outright? ›

Homeownership rates in California are the second lowest in the country, according to 2016-2020 estimates from the American Community Survey. Statewide, only 56% of households own the home they live in, compared to 65% in the rest of the country. Only New York has a lower rate (55%).

How many Americans are not paying rent? ›

A LendingTree analysis of U.S. Census Bureau Household Pulse Survey data found that more than eight million U.S. adults live in a household not caught up on rent payments. While millions of people are behind on their rent, about 3.6 million adults are living in households not being charged rent.

Who is most likely to rent a house? ›

Renter Demographics. In the under-35 age group, 65% of American households are rented. Meanwhile, in the 65+ age group (senior citizens), 79.3% own a home. The median age of homebuyers is 47 years old, while the median age of renters is 38 years old.

How much does the average American pay rent? ›

Average rent in the U.S.
Average RentAverage Apartment Size
$1,702897 sq. ft.

What not to say to a landlord? ›

  • 'I hate my current landlord' Every potential landlord is going to ask why you're moving. ...
  • 'Let me ask you one more question' ...
  • 'I can't wait to get a puppy' ...
  • 'My partner works right up the street' ...
  • 'I move all the time'
May 11, 2017

Why do landlords ignore me? ›

If it's the former and your actual landlord is ignoring you, it could be because: They are busy and haven't gotten around to answering you yet. They can't fix your problem, or it isn't their problem to fix. They are a bad landlord.

How do you respond to a rude landlord? ›

If your landlord is chatty or tends to be forgetful, perhaps the best way to communicate with them isn't over the phone. Instead, send an email or if they're really informal, a text. That way, there is record of your conversation, and you can point back to it if needed.

What is the Smith theory of rent? ›

The sufficient price, the cost-price, which only pays wages and profit, excludes rent. If the product pays a great deal more than the sufficient price, then it pays a high rent. If it pays only a little more, then it pays a low rent. If it pays only exactly the sufficient price, then it pays no rent.

What are 2 famous quotes by Adam Smith? ›

'Labour was the first price, the original purchase-money that was paid for all things. It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased. ' 'Wherever there is great property there is great inequality.

How does Adam Smith view private property? ›

The capitalist state defends private property rights. “The first and chief design of every system of government,” according to Adam Smith,“is to maintain justice: to prevent the members of society from encroaching on one another's property, or seizing what is not their own.

Why do landlords exist? ›

In financial terms, landlords provide three services: transactional services, capital services, and diversification. I will briefly describe each before diving more into the details below. First, landlords bear the transactions costs of homeownership. Buying and selling a home is difficult and costly.

What is rent capitalism? ›

Rentier capitalism describes a system where individuals and businesses with market power are able extract rent from everybody else including those employed at an hourly wage. The rent aspect includes an unwillingness to return some of these profits to the government to help provide public services.

Which class of people own property according to Marx? ›

In Marxism, the term bourgeoisie refers to a social order dominated by the ruling or capitalist class — those who own property and, thus, the means of production. According to Marx, the bourgeoisie is the ruling class in capitalist societies.

What percent of Americans have a rental property? ›

Homeowners vs. Renters By State
StateTotal Households% Owning : % Renting‡
Arizona2,670,44165% : 35%
Arkansas1,163,64766% : 35%
California13,157,87355% : 45%
Colorado2,235,10366% : 34%
48 more rows
May 4, 2023

What percentage of the US population own rental property? ›

Most rental properties are owned by individuals, but only a small share of individuals own rental property, according to IRS income-tax data. In 2018, 6.7% of individual tax filers (about 10.3 million) reported owning rental properties. Those filers reported owning 1.72 properties on average.

What percentage of Americans rent property? ›

(According to the Pew Research Center, about 36 percent of American households rented, rather than owned, their homes in 2019, the last year that reliable data was available from the Census Bureau.) Moody's first started tracking the metric in 1999, when the typical rent-to-income ratio was 22.5 percent.

What percentage of properties in the US are rental? ›

Indeed, rental units make up less than 20 percent of the housing stock in nearly a third of the nation's census tracts.

What is the average profit on rental property? ›

The amount will depend on your specific situation, but a good rule of thumb is to aim for at least 10% profit after all expenses and taxes. While 10% is a good target, you may be able to make more depending on the property and the rental market.

What does the average American pay for rent? ›

What is the average rent in the U.S.? The average rent for an apartment in the U.S. is $1,702. The cost of rent varies depending on several factors, including location, size, and quality.

How many rental properties is too many? ›

Don't get in over your head. Some real estate investors enjoy great success with one or two rental properties, while others own dozens. There's really no preset number of properties you should limit yourself to. Rather, you should think about your capacity to manage those properties.

How many Americans own a second home? ›

How Many Homes in the U.S. are Second Homes? Through our analysis we found that there are at least 2.64 million second homes in the U.S. that are for seasonal, recreational, or occasional use. How many homes are there in the United States?

Why are more people renting? ›

High cost of homeownership and a tight housing market drive demand for rental properties.

How long do most people rent for? ›

So, how long does a Tenant stay? A quick google search will tell you that for a single-family rental in the United States, you should expect an average tenancy to last about 3 years.

How many renters in US are behind on rent? ›

More than 5 million households still behind on rent — what to do if yours is among them. As of February, renters in the U.S. continued to owe nearly $11 billion in debt. The average arrears is more than $2,000. Here are some of your options if you're in the red.

What percentage of Americans don't own property? ›

64% of Americans own real estate. 35% of the American population does not own their own homes.

How many rental properties does the average investor own? ›

Investors own or manage an average of 3 rental properties

SmartMove also reports that landlords own or manage 3 rental units, with 31% of a landlord's annual income coming from rental properties.

How many Americans have renters insurance? ›

How Many People Have Renters Insurance In America? 57% of Americans who rent have renters insurance, and with there being nearly 45 million renter households in the United States, that comes to almost 25 million households covered for renters insurance.

How big is the rental market in the USA? ›

Typical asking rents in the U.S. are now $2,018, a 5.3% increase compared with the same time last year. Rent growth, overall, has been slowing since its 16.9% year-over-year peak growth in February 2022. The current year-over-year rate is 0.5% higher than the peak typical rent of $2,008 in September 2022.

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