In 2014 the Rental Housing market grew an annual pace of 3.3%, with occupancy rates at 95% (according to MPF Research)
If you’re looking to grow your rental portfolio in 2015, where should you start? Among the most obvious places would be the best performing rental markets of 2014! Last year was a surprisingly strong market for growth among rental housing throughout out the entire US, growing an an annual pace of 3.3 percent with occupancy at 95%.
Below are the top 10 markets in the United States, as measured by annual rent growth percentage (annual rent growth equals “effective rent” in this case).
Millennials will shape the future of your rental business and here’s why:
The millennial generation, or Generation Y, is the generation born in the 80’s and 90’s and they make up about one-third of the population. As a millennial myself, I can tell you we grew up during the birth of technology and we’re generally known as the ‘on-demand’ generation. Meaning we want what we want, and we want it now.
Millennials are coming of age when it was once thought purchasing a home defined the “American Dream” but that’s seemingly not the case for my generation. A recent report by the National Association of Realtors (NAR) suggests that the number of first-time homebuyers has reached its lowest level since 1987!
So what does this mean for your property management business and why is it important? It means we’re not buying our first home until much later in life and as a result, we’re taking the rental market by storm.
Learn how to take the guesswork out of creating rental ads that get attention.
Your rental advertisement is the only way to communicate with prospective tenants, before you even know they exist. What’s the one thing you can do to save yourself time responding to questions about your listing? Give the renter all the information they’re looking for upfront. Including the most useful information in your rental ads could mean the difference in getting a great renter sooner rather than later. The challenge with this is finding out what exactly is useful information to include. The Definitive Guide to Great Rental Ads will help you understand what makes a renter tick.
You’ll learn what information to include in your ads that will provide renters with the most important information to them, making your life a lot easier when you’re dealing with a vacancy.
So you want to know how to attract great renters quickly with your online ads? You’ve come to the right place.
Copyright Ashley Wilson 2014. Copy only with property citation.
The millennial generation is the generation that rents, especially in the most competitive markets. There are many articles out there explaining why, the gist of it is that we’re not ready to settle down until much later in life. So, whether you like it or not, you need to know how to target us and I’ll show you how.