When the real estate market crashed, many investors turned to purchasing discount homes and turning them into rental properties for the steady stream of income. In fact, house flipping was essentially dead for a couple of years after the crash – a tumble that led many with an interest in flipping homes to completely new career fields.
However, as the real estate market started to make progress toward recovery, many investors had a renewed interest in buying and selling homes again, but it appears as though investing in rentals has definitely not lost its appeal.
The Demand for Rental Homes
Over the last few years, rental prices have increased in certain zip codes of Birmingham. This has been in large part due to the high lending standards and unstable housing market that has kept many people from buying a new home. Today, although tight financing restrictions have ebbed and the market is improving, the strengthening economy is leading to an increase in rent in many cities.
As a result of the increasing rent, many investors are looking for homes to turn into rentals while developers are trying to build condominiums and rental complexes as quickly as possible.
Why Many Investors Are Avoiding Turning Homes Into Rentals
Although now is a great time to buy homes for those with an interested in investing in rental homes, many investors shy away from this market. Why? More often than not they do not desire to be a landlord – the day-to-day aspects can be incredibly time consuming and prohibit them from doing what they love.
Fortunately, property managers are the perfect people for these investors. From tenant selection to collecting rent payments and scheduling maintenance requests, a property management company can take care of the daily aspects of owning a rental property – saving you valuable time and energy.
If you are interested in investing in rental properties in Birmingham, AL, then call on gkhouses.com – a property management company you can trust. Call us today at 205.940.6363 to learn more.