Single-family rental property investing in Fort Mohave is experiencing a radical change. 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. Altogether, these three aspects comprise the top three considerations that any rental property investor should be concentrating on now. In what transpires, we’ll take a closer look at some of the opportunities you’ll find in each option.
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 shows no decline and continues to outpace 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 recognized the advantages of new builds as investment properties. Maintenance costs tend to be lower, profits from renting tend to be higher than sales, and tenants accustomed to living in aging homes are almost always enthusiastic for something brand new. Although builders-turned-landlords are creating more competition for single-family rental home investors, the demand for such properties remains very strong. This is especially true among young adults who have been priced out of a very competitive housing market.
2. Renting as a Lifestyle Choice
Together with those who are unable to buy, one more important trend that you ought to be watching cautiously is a new wave of people who are renters by choice. Millennials and Baby Boomers, in particular, have revealed a 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 on top of this trend have answered 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 other perks that come with such neighborhoods.
3. Long Distance Investing
Gone are the days when you are obliged to live close to your investment properties. As more and more single-family rental home investors have remarked, long-distance investing is fast becoming the new standard for investors. With all the advantages of technology and professional property management services now accessible, there is no need to limit your property searches to your home market. As a matter of fact, living in one city and owning properties in one or more others is quickly becoming the path to success for many investors. Although it may take a while at first to form 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. So, 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
Although rental property investing is changing, the need to do meticulous research on each potential investment has not. Because of this, Real Property Management Northern Arizona offers investors free rental property analyses. Our Fort Mohave 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 considering is a good option. Contact us today for more information on the quality services we offer rental property investors like you!
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