06-17-2017, 09:33 AM
Because locals in the know don't believe the market is strong, so the developers have to find rubes from elsewhere? (Just kidding.)
I think there is a difference between a local unit-owner and one who lives elsewhere, but that's obviously a generalization and there would be plenty of exceptions to it on both sides. Viewfromthe42 observes that owners from other markets seem to charge more for rent. I've never heard that before, but I think the common sense idea that unit-owners in other cities will be less proactive managers (even when they have local property management) is based in fact, though again not true in all cases.
None of these are big issues. They are kind of interesting, though.
I think there is a difference between a local unit-owner and one who lives elsewhere, but that's obviously a generalization and there would be plenty of exceptions to it on both sides. Viewfromthe42 observes that owners from other markets seem to charge more for rent. I've never heard that before, but I think the common sense idea that unit-owners in other cities will be less proactive managers (even when they have local property management) is based in fact, though again not true in all cases.
None of these are big issues. They are kind of interesting, though.