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Demand for (Microsoft area) rental homes has increased?

EastSiderEastSider
edited October 2007 in Seattle Real Estate
Our current landlord is asking for an increase of 50% this year, and we are looking out for another rental. We went to see a rental home (during an open house) earlier in the morning today. The home is close to Microsoft and the asking rent is approx. $2500.

Guess what -- there were at least 5 other families seeing the home at the same time. One family was filling up the application form after a few minutes of seeing the home.

I guess the rental market is heating up considerably.

Comments

  • BallardRatBallardRat
    It was like that last year in Ballard when I was looking for a new place. I applied to 2 houses that ended up going to one of the other applicants because they had no pets or fewer humans. I was looking in April, and there were multiple people at almost every house, even when the listing had been up only an hour.

    In the past I've waited until winter to look because fewer others are looking, and also I get an idea how the place will feel in the cold, wet season.
  • snigletsniglet
    We live near the Microsoft Bellevue campus, and our rent was raised about 8% this year. Interestingly, I notice that there are more for rent (and lease) signs up in my neighbourhood. One home, in particular, has had a for-lease sign up since May and continues to remain vacant (asking $1800 for an older 3 bed, 2 bath).

    Some landlords are clearly over-stretching.
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