Recently, USA Today reported there is a national shift from home ownership to renting. Rents are rising at a rate that, unfortunately, may not allow potential homebuyers to save for the necessary down payment and fees associated with purchasing a home.
In surveying some of my residents, I found that they loved the carefree lifestyle, amenities of a community they are not responsible for, no taxes, insurance or HOA fees and the ability to move at the end of the lease for various reasons. I also found that, another group considers renting to be long term for them because they would not qualify for a loan and interest rate necessary to become homeowners. So, they also are becoming long term residents - renewing over and over again. And, historical perspective shows long term residents are quite profitable to an investor/landlord = no vacancy loss.
Investors - now is the time to consider securing your first residential rental asset or add to the inventory you already have.
I invite you to pick up the phone or email me should you like to discuss purchasing a rental asset.
