Just reading through another post on divorces and it's sparked another thought.
If no divorces occurred, it would reduce the tenant pool that is available to rent properties.
Many of our tenants are "new singles" and starting over. That is, they have owned their own home and are now new to the rental market due to divorce. Many of these tenants, once they have established themselves again, actually find that renting is their preferred method and even if they later on purchase investment properties, they continue to rent a "nicer" home to live in.
There is a trend that at around the 2-3 year mark after a divorce they double the number of children they have. She has 2 and now partners up with someone who also has 2, now together they have 4 children and move in together into a bigger 5-6 bedroom home. This is a safer relationship, there is no risk here because if one walks out they have nothing to take from the other one as they were just renting. Smart way to do relationships I think.
It is also my observation that there are more divorces - more new single tenants and more sales due to divorce, in more prosperous economic times.
This could be because people stay in bad relationships/marriages if they are unable to afford life on their own. People can walk out of bad situations easier if they are financially able to.
I'm talking both men and women here not just one.
So, when economic times are good, bad marriages end and the pool of quality tenants increases. All good.
Please keep in mind that we manage properties mainly in the more prosperous suburbs with a rental range of $420 to $500 per week, so we attract a lot of higher income divorced tenants and many professional tenants. Male and Female.
The above observations probably don't make sense for lower socioeconomic demographics.
If no divorces occurred, it would reduce the tenant pool that is available to rent properties.
Many of our tenants are "new singles" and starting over. That is, they have owned their own home and are now new to the rental market due to divorce. Many of these tenants, once they have established themselves again, actually find that renting is their preferred method and even if they later on purchase investment properties, they continue to rent a "nicer" home to live in.
There is a trend that at around the 2-3 year mark after a divorce they double the number of children they have. She has 2 and now partners up with someone who also has 2, now together they have 4 children and move in together into a bigger 5-6 bedroom home. This is a safer relationship, there is no risk here because if one walks out they have nothing to take from the other one as they were just renting. Smart way to do relationships I think.
It is also my observation that there are more divorces - more new single tenants and more sales due to divorce, in more prosperous economic times.
This could be because people stay in bad relationships/marriages if they are unable to afford life on their own. People can walk out of bad situations easier if they are financially able to.
I'm talking both men and women here not just one.
So, when economic times are good, bad marriages end and the pool of quality tenants increases. All good.
Please keep in mind that we manage properties mainly in the more prosperous suburbs with a rental range of $420 to $500 per week, so we attract a lot of higher income divorced tenants and many professional tenants. Male and Female.
The above observations probably don't make sense for lower socioeconomic demographics.
