Rental Market Trends Stealing Limelight in 2018
Rental market remains in a state of flux all the time. This means you cannot be sure about the returns in any given year. However, you need to anticipate these changes well ahead to make your plans accordingly. As far as 2018 is concerned, it promises to remain hot like previous years. However, you need to know the hottest trends to make the most of your rental property.
Ormond Beach forecasted as hot rental market 2018
According to Forbes, Ormond Beach ranking number three in forecast 2018 for sales and price growth. Ormond Beach is a rapidly growing city that promises best returns on investment.
The Millennial effect is still dominant
Millennial's, who don’t believe in developing their roots in a place, are still the biggest force in the rental market. They are still driving the rental market with landlords welcoming these renters with open arms.
Gen Z has become a force to reckon with
Generation Z is a category of people born after 1995. These young adults have no desire to find a footing on the housing ladder and they are entering the rental market with a bang.
Investors should include properties in the suburbs in their portfolio
It is a fact that the real action in the rental market takes place in major urban centers. However, saturation and population explosion in urban centers is forcing most investors to branch out to suburbs and rural centers. There is an increasing demand for quiet and peaceful country life among renters. This is a trend that is not going to die down in near future. It only makes sense for you as an investor to go for properties in suburbs and rural areas.
Rental market is where all the action is
If you think it is real estate where you want to make a mark as an investor, choose rental real estate to begin with. Rental market is giving handsome returns to investors, even better than sale and purchase of real estate. Now is perhaps the best time to enter the rental housing market.
Rent always increase with time
One good thing with this mode of investment is that rents continue to increase all the time. While this is music for ears to the investors, it also means increasing rents also attract more investors to the rental housing market. Unlike real estate where prices can take a dip without any warning, you can rest assured that rents always tend to increase rather than taking a downward dip.
You need not discard older properties
Yes, there was a time when investors looked down upon old properties as Millennial's and other renters preferred newly built and renovated properties. This is no longer the case and renters are showing interest in all sorts of properties, including older ones.
Real estate sales have picked up
You can enter rental market without any worries as sales figures of properties are quite healthy in recent times.
As an investor, there are always doubts about good tenants and the ability to sell when rental income goes down. But if you look at the pros and cons, you will find rental market to be very promising at present.
If you’d like to talk more about the value of inspections, or you need help with Everest Property Management, please contact us at Everest Realty.
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As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
