Have you ever considered whether owning property in Winter Garden is a smart or profitable idea? Maybe you already own property and are thinking of selling it with fears that it will no longer bring in a steady income. However, recent rental market trends might have you changing your mind, as there is rising popularity of owning rental properties versus homeownership.
When you choose Real Property Management South Orlando to help manage your Winter Garden property, you are working with a team that is devoted to seeing your property succeed. Find out more about why you should capitalize on the rising popularity of rental properties and start enjoying the benefits of investing in real estate today.
When it comes to housing market booms for homeownership, the buyers’ market is usually restricted to specific areas throughout the county. This means certain cities and towns will always have property rates too high for the regular home buyer. This makes it difficult to make use of a trend that might not be in effect in your area.
However, the growing popularity of rental properties has been a national trend, so your Winter Garden property can take advantage of this news. A recent study was done studying the change in renter versus homeowner rates over time between 2006 and 2016. Individuals who rented a home or unit increased by more than 23 million during this period as observed by the US Census. Considering the United States population growth was 23.7 million people, this rate indicates that renting is meeting the needs of many.
This study conducted by RentCafe also showed that the growth of homeowners was fewer than 700, demonstrating that many are more interested in renting a home than owning various reasons. While trends come and go, Real Property Management South Orlando is here to help you whether each change in popularity, guaranteeing that you can expect to have continual income over time regardless of the market.
Housing Market Spreading Out
While many of these trends are concentrated on cities within the United States, this rising popularity of rental properties is great news for investment homeowners whose rental properties are outside the city. When there is an increase in the need for rental properties, it is usual for rental rates within cities and larger towns to rise alongside this. Owning a property in an area like this is excellent as you can raise your rent as well.
However, not all renters can afford the price fluctuations of the market. This leads them to consider rental property outside of the city and in smaller towns and suburbs. As population rates rise, so does the need for affordable housing, and renting can help remove this burden from individuals and families alike. When they do not have to finance a down payment and mortgage, obtaining a profitable rate from your rental property that meets the needs of you and your residents is much easier.
Let Real Property Management South Orlando help you capitalize on this growing trend along with the professional management of your property, so you can sit back, relax, and enjoy the extra income. Learn more about our property management services and contact us online or call us at 407-982-2000 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.