Have you ever thought about whether owning property in Evansville is a great or gainful idea? Maybe you already own property and have been thinking of selling it, fearful that it will no longer bring in a regular income. However, the latest rental market trends may cause you to change your mind as there is an increasing popularity of owning rental properties v. homeownership.
When you decide to partner with Real Property Management Results to assist you to manage your Evansville property you are working with a team that is invested in seeing your property succeed. Understand more about why you should exploit the rising popularity of rental properties and start reaping the benefits of investing in real estate today.
National Trend
With regards to the housing market booms for homeownership, the buyers’ market is usually limited to certain areas all around the county. This means there will consistently be cities and towns with property rates that are extremely high for the normal homebuyer. This makes it hard to take advantage of a trend that may not be in operation in your location.
But the rising popularity of rental properties has been a country-wide trend, meaning your Evansville property can take advantage of this news. The latest study was done looking at the change over time in renter v. homeowner rates between 2006-2016. Individuals who rented a home or unit rose by more than 23 million during this period as found by the US Census. Knowing the U.S. Population growth was 23.7 million people, this rate shows that renting is matching the needs of many.
This study conducted by RentCafe, also shows that the growth of homeowners was less than 700,000, suggesting that several more are interested in renting a home than becoming owners for several reasons. While trends do come and go, Real Property Management Results is here to assist you to endure each change in popularity, making sure that as time goes by you can hope to have constant income notwithstanding the market.
Housing Market Spreading Out
While many of these trends are concentrated on cities within the U.S., this rising popularity of rental properties is beneficial news for investment homeowners whose rental properties are located outside of the city. When there is an increase in the need for rental properties, it is common for rental rates to rise alongside this within cities and larger towns. Having a property in an area like this is great as you can increase your rent as well.
But not all renters can afford the price fluctuations of the market. This causes them to look for rental property outside of the city and in smaller towns and suburbs. As populations rates increase, so does the need for affordable housing, and renting can help take this problem off from individuals and families alike. When they do not have to fund a down payment and mortgage it is much easier to get a profitable rate from your rental property that meets your needs as well as your residents.’
Let Real Property Management Results work with you to capitalize on this rising trend including the professional management of your property, so you can just sit back, relax, and enjoy the extra income coming in. If you wish to learn more about our services, then contact us online or call us at 812-461-1676 today.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
