Rental Market Leaders Team Up to Release Local Rental Statistics
HONOLULU – July 21, 2015 – Real Property Management in the Honolulu area, part of the nation’s leading property management franchise, and RentRange, the nation’s leading provider of Rental Market Intelligence™, together release rental housing statistics that show Honolulu rental home rates are rising.
During the second quarter 2015, the companies reveal that the average monthly rent for a single-family home in Honolulu was $2,675, representing a 14 percent year-over-year increase. Nationally, home rental rates rose 6.1 percent year-over-year to $1,320. The rental market data was limited to three-bedroom single-family homes in the U.S.
“Rental rates are up in the Honolulu area and we expect that trend to continue in the near future,” said President and CEO Kawika Burgess, a Honolulu franchisee of Real Property Management. “There are a lot of economic indicators supporting this trend, not the least of which is the continued shortage of affordable rental housing on the island of Oahu.”
“Higher rents and the availability of detailed rental market data create unprecedented opportunities for investors to make good decisions,” said Wally Charnoff, CEO of RentRange. “Along with professional property management, such information reduces the risk of investing in a broader range of geographic areas.”
As leaders in the rental housing industry, Real Property Management and RentRange have an ongoing strategic business relationship. Real Property Management relies on RentRange’s proprietary rental housing data to provide its landlord customers with accurate, current information about local rental properties and rental markets.
For more information, visit: www.realpmalliance.com.