According to Arizona State University's W.P. Carey School of Business, Phoenix area monthly rents on houses are up 5.8 percent from last year. "Rental homes remain popular for those who don't want to buy a house or who can't qualify for a home loan," said Mike Orr, director of the Center for Real Estate Theory and Practice at the Carey School. "Fast turnover and low vacancy rates have pushed rents up."
With a large portfolio of cash flow generating rental properties within Capstone's Phoenix real estate funds, this is good news for investors!