Have you ever wondered if owning property in The Woodlands is a good or profitable idea? Maybe you already own property and are considering selling it with fears that it will no longer provide a steady income. However, recent rental market trends may have you changing your mind, as there is increasing the popularity of owning rental properties versus homeownership.
When you choose to partner with Real Property Management Republic to help manage your The Woodlands property, you are working with a team that is committed to helping your property succeed. Discover 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 usually limited to certain areas throughout the county. This means there are always cities and towns with property rates that are too high for the typical homebuyer. This makes it difficult to capitalize on a trend that might not be in effect in your area.
However, the rising popularity of rental properties has been a national trend, meaning your The Woodlands property can take advantage of this news. A recent study was carried out studying 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 recorded by the US Census. Bearing in mind that the United States population growth was 23.7 million people, this rate shows that renting is meeting the needs of many.
This study performed by RentCafe also showed that homeowner growth was less than 700,000, indicating that many are more interested in renting a home than owning for various reasons. While trends come and go, Real Property Management Republic is here to help you endure each change in popularity, ensuring that you can expect to have continual 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 growing popularity of rental properties is great news for investment homeowners whose rental properties are outside the city. When there is a rise in the need for rental properties, rental rates within cities and larger towns usually rise alongside this. 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 market price fluctuations. This leads them to hunt 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 Republic 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. If you would like to learn about the property management services we offer, contact us online or call us at 281-362-5001 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.
