Rental Market Saturated?

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You may have noticed several new rental properties popping up around Bryan/ College Station. But is the supply more than enough to meet the demand?

" I think Bryan/ College Station is a spectacular place to own property," said Doug Pederson, a rental property owner.

And apparently so do many others.

" For 3 or 4 years now word has spread and everybody has come to Bryan College Station to build property," said Pederson.

Pederson owns several rental properties in town and is concerned about all the new developments going up. More large scale developers have taken an interest in the Brazos Valley and that means stronger competition for existing property owners.

" I think what it does is it forces you to be a better property manager. It forces you to put more money into your property and it forces you to do a better job with customer service," said Pederson.

While that's good news for renters, it could be a problem for existing property owners in the area.

" It will hurt in the long run if a property does sit vacant for any length of time, the owner will be the ones that have to absorb that expense," said Shawn Durrett with the Bryan/College Station Apartment Association.

Durrett says the twin cities tends to draw people in and attract developers. But there can be too much of a good thing.

" We do have an abundance of property in the market right now. We don't have enough people coming into town to absorb that right now," said Durrett.

Competition in the real estate market can drive prices down, but may also shut down some businesses.