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Local News

Rents About to Rise


Good news for landlords, maybe not so good for renters. Rents in Bend are going up because: “Our vacancy factors are way down. For example in Bend, for all types of residential rental properties.   The number of units that would be vacat per hundred is 3.69%. That is down from about 10% last year.” Central Oregon Rental Owners Association President Lawnae Hunter says that is good news because it means that property owners will be able to increase their return on investment.   She says that's important for owners to be able to afford to provide rentals.   Her forecast is that landlords will probably raise rents about 5%.   The average rent for a Bend duplex at $615 could go up to $630 or $640.   She says many homeowners who were foreclosed on or had to short sell their homes are now in the rental market.

 

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