By THAYER EVANS

Years ago in Pearland, there were often less than 10 houses available for rent at a given time.
And those houses typically leased within days of being listed, said Pearland real estate agent Kathy Kipp, who has been a Realtor for 20 years.
Now despite there usually being as many as 80 houses for rent at a time in Pearland, they’re just as difficult to lease as they were years ago because of the faltering economy, Kipp said.
Many are seeking refuge in rental houses after being chased from houses they once owned, while others are renting because they are scared to buy, she said.
“They’re going faster than we can get them,” Pearland real estate agent Susan Lenamon said of rental houses.
Kipp said that between January and June she leased 17 houses in Pearland.
She said she normally leases half of that number.
But with jobs being lost, potential homebuyers are leery to make a commitment to a mortgage and instead are opting to rent, Kipp said.
“It’s having a huge impact,” Kipp said of the lagging economy. “It has fueled the rental business tons.”
Many of those renting houses in Pearland have had previous financial problems with houses, Kipp said.
Some bought houses with 100 percent financing and were unable to pay their mortgage when their lender refigured their payment, she said.
That forced them to sell the house for a lower price than is owed on the property’s loan or let it go into foreclosure, Kipp said.
“Those people don’t go in to apartments,” she said. “They go rent single-family homes. They’re used to having a yard and that kind of thing.”
And with fewer people buying houses, many homeowners who want to sell are renting their houses until the real estate market improves, Kipp said.
“You obviously want to make as much money off of your home as possible,” she said.
“Right now is not a good time to sell because of the economic impact. People are losing jobs. They want to buy a bargain.”
Some of those who want to buy houses are also being forced to rent because they have poor credit or are unable to secure financing, Lenamon said. “People can’t get money,” she said.
This year, Lenamon said the number of houses that she has leased is up at least 50 percent from last year. Most rental houses in Pearland start at $1,200 monthly, she said.
“We get people all the time calling and saying, ‘Do you have anything about $600 or $800 (a month)?’ Lenamon said.
“There is no such thing unless you want live in something a little less desirable.”
Regardless of the economy, Kipp believes that the Pearland’s market for rental houses will only grow because of the city’s proximity to the Houston Medical Center and the lack of apartments in the area.
“Those that have to rent,” she said, “have to be somewhere.”