Single-family rental property investing in Westbury is going through progression. 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. Collectively, these three aspects forge the top three considerations that any rental property investor should be probing now. In what manifests, we’ll take a more watchful evaluation at some of the scenarios you’ll find in each recourse.
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 desire keeps to knock off 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 approved the premiums of new builds as investment properties. Maintenance costs tend to be lower, revenue from renting tend to be higher than sales, and occupants familiar with lodging in aging homes are often eager for something brand new. While builders-turned-landlords are creating 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
Aside from those who are lacking the ability to procure, a more important trend that you should be observing is a new wave of people who are renters by choice. Millennials and Baby Boomers, most importantly, have showcased intensifying allure 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 way ahead of this inclination have retorted 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 individuals, disbursing a higher rent is an acceptable trade for proximity to urban environments and all the perks that come with such situations.
3. Long Distance Investing
Gone are the times wherein you’re being required to settle close to your investment properties. As more and more single-family rental home investors have acclaimed, long-distance investing is immediately changing into the new standard for investors. With all the upsides of instruments and efficient property management services now obtainable, there is no need to limit your property searches to your home market. In fact, settling in one city and owning properties in one or more others is eagerly transforming into a new road to success for many investors. Though it may take a moment at first to build the team you’ll desire, once you have real estate and property management professionals you can trust you can buy and rent properties just about everywhere. So even if housing prices in your region are way off, thanks to today’s modern technology, you could be investing in some of the hottest markets in the country – wherever that may be.
Even if rental property investing is changing, the requirement to do a complete exploration of each potential investment has not. As such, Real Property Management Landmark gives shareholders free rental property analyses. Our Westbury property management professionals are not only some of the best in the property management industry; we also facilitate with investors to help you decide whether the rental property you’re taking into account is a clever choice. Contact us today for more information on the valuable services we offer rental property investors like you!
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