Have you ever thought about whether owning property in Sauk Centre is a smart or profitable idea? Maybe you already own property and are considering selling it with fears that it will no longer provide stable income. However, recent rental market trends may get you to change your mind, as there is a rising popularity of owning rental properties versus homeownership.
When you partner with Real Property Management Optimum to help manage your Sauk Centre property, you are working with a team that is committed to helping your property succeed. Find out more about why you should capitalize on the growing popularity of rental properties and start seeing the benefits of real estate investing today.
National Trend
When it comes to housing market booms for homeownership, the buyers’ market is typically restricted to particular areas throughout the county. This means there are always cities and towns with property rates too high for the average homebuyer. This makes it difficult to capitalize on a trend that might not be in effect in your area.
However, the increasing popularity of rental properties has been a national trend, so your Sauk Centre property can take advantage of this news. A recent study was performed looking at the change over time in renter versus homeowner rates between 2006 and 2016. Individuals who rented a home or unit increased by more than 23 million during this period as discovered by the US Census. The population growth in the United States was 23.7 million people, which shows that renting is meeting the needs of many.
This study was done by RentCafe also indicated that the growth of homeowners was fewer than 700,000, suggesting that many are more interested in renting than owning a home for a variety of reasons. While trends come and go, Real Property Management Optimum is here to help you endure each change in popularity, making sure that you can expect to have a steady income over time regardless of the market.
Housing Market Spreading Out
While many of these trends are focused 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 upsurge in need for rental properties, rental rates within cities and larger towns also commonly arise. Owning a property in an area like this is great as you can increase your rent as well.
However, not all renters can afford the price fluctuations of the market. This leads them to look for rental property outside of the city and in smaller towns and suburbs. As population rates go up, so does the need for affordable housing, and renting can help take this burden off individuals and families alike. It is much easier to get a profitable rate from your rental property that meets the needs of you and your residents when they do not have to finance a down payment and mortgage.
Let Real Property Management Optimum help you take advantage of this rising trend along with the professional management of your property, so you can sit back, relax, and enjoy the extra income. Contact us online or call us at 612-730-8293 today with any questions about our property management service.
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.
