Rentals in Ann Arbor are scarce.
- Between the range of 500-850 a month there are only 2 rentals in Ann Arbor and I know one of them has a lease application on it.
- Between the range of 855-1200 a month in rent there are also only two rentals in Ann Arbor;one at 980.00 and one at 1050.00
Ann Arbor is a transient community in many ways, we have Dr.’s, Fellows, Residents that come in for 2-5 years, many just want to rent due to the uncertainty of the Michigan market. Plus the students that are looking to rent homes together which changes each semester.
Why are Rentals Scarce In Ann Arbor?
One reason that the rental market is scarce in Ann Arbor is due to the amount of Short Sales and Foreclosures of people that can not get a mortgage right now.
Another reason the rental market in Ann Arbor is scarce is consumers don’t have a lot of confidence that they won’t loose money if they are only going to live here a short time.
Scarcity of Rentals Creates Higher Prices
If you are a seller that has not been able to sell your home, now would be a great time to rent your Ann Arbor home. When the Missy Caulk Team takes a listing contract, it is put in the Ann Arbor Area MLS, we obtain a rental application from the potential tenants, one application for each person renting the property, we pull their credit so you can make a good decision on who you want to rent your home too.
Renting with an option to buy in Ann Arbor is also a great opportunity for both buyer and seller.The seller can rent out the home for a couple of years and when the tenant is able to get a mortgage they can proceed with the purchase. We get calls on this all the time.
Rentals in Ann Arbor are scarce but they don’t have to be with creative thinking in todays market.