Have you ever contemplated the profitability of owning property in Simi Valley? Do you think it’s a good idea? Maybe you already have your own property, though you have been considering selling it because you are nervous that it will no longer bring in a regular income as you’ve hoped. However, knowing the recent rental market trends may help change your mind as there is a mounting popularity of owning rental properties v. homeownership.
When you pick to partner with Real Property Management Ventura County to help you manage your Simi Valley property you are partnering with a team of dedicated professionals that want your rental investment to succeed. Learn more about why you should “ride the tide” on the rising popularity of rental properties and start benefiting from the fruits of investing in real estate today.
National Trend
When it comes to housing market booms for homeownership, the buyers’ market is usually restricted only to specific areas all across the county. This means there will continually be cities and towns with property rates that are much too expensive for the common homebuyer. This makes it difficult to profit from a trend that may not be in effect in your area.
However, the growing popularity of rental properties has been a nationwide trend, which naturally means your Simi Valley property can really benefit from this news. A recent study was done surveying the change over time in renter v. homeowner rates between 2006-2016. Individuals who rented a home or unit rose by more than 23 million during this period as found by the US Census. Knowing the U.S. Population growth was 23.7 million people, this rate shows that renting is indeed meeting the demands of many.
This study conducted by RentCafe, also signified that the growth of homeowners was lesser than 700,000 showing that many are more interested in renting a home than owning for several reasons. While trends change over time, Real Property Management Ventura County is here to help you brave each change in popularity, ensuring that as time goes by you can count on having a regular income regardless of the market conditions.
Housing Market Spreading Out
While many of these trends are concentrated on cities within the U.S., this growing popularity of rental properties is glad tidings for investment homeowners whose rental properties are outside of the city. When there is an upsurge in need for rental properties, it is usual for rental rates to rise alongside this within cities and larger towns. Owning a property in an area like this is great as you can increase your rent as well.
However, not many renters can afford the fluctuating price of the market. This leads them to look for rental property outside of the city and in smaller towns and suburbs. As populations rates mounts, so does the need for reasonable housing, and renting can help take this burden off the shoulders of individuals and families alike. When they do not have to cash out a down payment and mortgage it is much easier to get a profitable rate from your rental property that satisfies your needs as well as that of tenants.
Give Real Property Management Ventura County the opportunity to help you to capitalize on this mounting trend along with the professional management of your property so you can sit back, relax, and enjoy the extra income for years to come. Learn more about our services by contacting us online or calling us at 805-387-3682 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.
