Single-family rental property investing in Ransom Canyon is experiencing an evolving phase. Traditional models of single-handedly buying and managing one or two rental properties are giving way to new approaches to investing, including build-to-rent, lifestyle renting, and long-distance investing. Together, these three aspects make up the top three considerations that any rental property investor should be checking now. In what follows, we’ll take a closer look at some of the opportunities you’ll find in each choice.
1. Real Estate Investment Build-to-Rent Properties
One of the newer and rapidly growing trends in the housing industry is build-to-rent investment properties. In a market where demand has continued to outperform supply, investors and even home builders are choosing to buy new homes for the express purpose of renting them out. Developers and investors have both understood the benefits of new builds as investment properties. Maintenance costs tend to be lower, profits from renting tend to be higher than sales, and tenants used to living in aging homes are often eager for something brand new. While builders-turned-landlords are generating more competition for single-family rental home investors, the demand for such properties remains very strong. This is particularly true among young adults who have been priced out of a very competitive housing market.
2. Renting as a Lifestyle Choice
Along with those who are unable to purchase, another important trend that you should be observing is a new wave of people who are renters by choice. Millennials and Baby Boomers, in particular, have shown growing interest in opting out of homeownership in exchange for the flexibility of renting. For these demographics, location, community, and lifestyle are often more important than owning their own homes. Rental property owners who are staying ahead of this trend have acknowledged by offering additional amenities and services, catering to the lifestyle renter’s desire for freedom from home maintenance, long commutes, and even paying utility bills. For these folks, paying a higher rent is an acceptable trade for proximity to urban environments and all the benefits that come with such locations.
3. Long Distance Investing
Gone are the days where you have to live close to your investment properties. As progressively more single-family rental home investors have noticed, long-distance investing is quickly growing to be the new standard for investors. With all the benefits of technology and skilled property management services now available, there is no need to limit your property searches to your home market. Actually, residing in one city and owning properties in one or more others is quickly becoming the way to success for many investors. Although it may take time at first to set up the team you’ll need, once you have real estate and property management professionals you can trust you can buy and rent properties just about anywhere. Thus, even though housing prices in your city are out of range, thanks to today’s technology, you could be investing in some of the hottest markets in the country – wherever that may be.
In Conclusion
Even though rental property investing is changing, the need to do in-depth research on each potential investment has not. That’s why Real Property Management Services offers investors free rental property analyses. Our Ransom Canyon property management professionals are not only some of the best in the property management industry; we also work with investors to help you determine whether the rental property you’re bearing in mind is a good option. Contact us today for more information on the quality services we offer rental property investors like you!
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.
