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18 SPOTLIGHT ON SINGLE- FAMILY RENTALS e latest single-family rental research from Morningstar Credit Ratings, LLC shows that the rent change for single borrower, and single- family rental securitizations increased by 3.6 percent in November, dropping from a revised 3.8 percent in October. Data indicated that the average vacancy rate declined by 10 basis points to 4.6 percent in November from a revised 4.7 percent in October. Morningstar attributes the decline in vacancy to a corresponding decrease in lease expirations, following a seasonal trend of lower lease expirations and vacancies in the winter months. According to Morningstar, the average retention rate for expiring leases declined 10 basis points to 78.7 percent in October, the latest month available, from 78.8 percent in September. However, it has remained over 75 percent for the past year. Of the 20 metropolitan statistical areas (MSA), Houston MSA had the highest vacancy rate at 6.9percent, up from a revised 6.6 percent in October. is was followed by Denver-Aurora at 6.3 percent, and Indianapolis at 6 percent. e highest blended rent growth was experienced in Sacramento at 6 percent, followed by Las Vegas and Riverside-San Bernardino MSAs at 5.5 percent each, the report indicated. Lowest rent growth was recorded at 1.7 percent in the Houston and Nashville MSAs. According to Morningstar research, rent growth for properties included in single-family rental securitizations continue to exceed the RentRange rents for three- and four-bedroom properties located in the same MSAs. Analyzing single-borrower performance, the research found a decrease in lease expirations to 5.3 percent in November, a drop from 6.5 percent in October. is decline is also expected to lead to a decline in the vacancy rate in the coming months. e overall turnover rate increased to 3 percent in October, the latest month for which data is available, from 2.7 percent in September. e average delinquency rate increased to 0.7 percent in November, with five transactions reporting delinquency rates of 1 percent or more. Rents recorded an upward spike at 3.6 percent in November, compared with a revised 3.8 percent increase in October, according to the research. Focusing on how to build, manage and grow investment opportunities, 2019 will see an array of housing and mortgage professionals come together at e Guest House of Graceland, Memphis, Tennessee March 11-13 for the Single Family Rental Summit. e Summit will feature subject-matter experts who will answer questions and offer viable solutions related to property management, acquisition, disposition, and financing. ON THE WEB WEBSITES TO GET TO KNOW. ere is truth in the saying, "time is money" and daily tasks can quickly become unmanageable, if not exhausting for independent professionals. If you are spending more time supporting your business instead of building it, you are not maximizing your efforts. 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