The Evolution of a “Rental Market”

Middle Tennessee Residential Property Management Consortium

You’re invited – Wednesday January 4, 2011 @ 10 AM

Location TBD based on number of RSVPs

What it’s about:

I think it can be argued that what’s here in the way of a “Market” has always been here.

What changes over time is the “Products and Services” in the market . . .

and who chooses to specialize in varying segments of the market . . .

and WHEN!

I could be talking about financial markets or internet development markets or technological markets or the market for widgets . . . the underlying markets are fundamentally the same when it boils down to the creation and evolution of a particular segment . . .

What distillation reveals is this delicate dance of Supply and Demand.

As most market segments emerge, they tend to increase in sophistication . . . communication channels show up where none existed before . . . cost structures take form . . . processes develop . . . and all of it leads to “Standard Practices” (SOP Standard Operating Procedures).

There’s a Real Estate Market Segment that’s been gradually emerging here in Middle TN which is still quite raw and (IMHO) merits some serious attention.

The Residential Property Management Market including single family and Condominium rentals is here NOW as a by-product of the real estate market down-turn as both investors and Homeowners who have moved on without selling are offering properties for rent . . . Renters are plentiful in the market as many “Former Home Owners” seek shelter as they put there lives back in order.

A recent client of mine was comparing Nashville to Dallas, TX and trying to decide which city he would like to move into . . . He has job offers in both, owns 2 houses and will be renting for at least a year.

Based on the internet research he did, he found the Dallas rental market to be MUCH more “Friendly” for the relocating professional. It was “put together” and easy to navigate . . .

Nashville was none of the above.

I believe this has “Opportunity” written all over it in terms of us REALTORS taking this bull by the horns and creating this market. If we are going to be competitive with other Major markets (Cities) for industry and job creation, a well-formed rental market is a good start.

So . . . I propose a consortium during which we’ll explore issues and opportunities we all face going into 2011 with respect to evolving our Residential Rental market.

At the end of the meeting, I expect that we’ll have a nice collage of possibilities outlined . . . Things to do . . . Ways to improve . . .

and it just might nudge the economic recovery of Middle TN and little bit faster.

ARE YOU IN?

Please email me @ barryo@comcast.net if you would like to attend this meeting.

I need to have somewhat of a grip on who intends to come, so I can have this in a large enough venue.

PS . . . We’d love to have a “Vendor Sponsor” bring in some lunch for us 🙂

Published by Barry Owen

Strategist-CEO of Pareto Realty Real estate sales Professional Inviter-Facilitator-Practicer of Open Space Technology Opening safe space for people & organizations to self-organize around issues & opportunities BarryOwen.US Invite-Listen-Love

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