Did you know that rental prices are rising twice as fast as the inflation rate? It’s true! There is an enormous demand for rentals right now, and it’s pushing prices sky high. In fact, the market is hotter than ever with the national occupancy rate for rentals at an all-time high of 95.3%.
This townhome was recently offered for $1650/month!
While this isn’t such good news if you’re a renter, it’s excellent news if you’d like to become a landlord. Owners and investors have the opportunity to be more profitable than ever, according to real estate experts.
Think you want to rent out a property? Ask your EveryHome agent to help you do a little research to see what it might be worth in today’s busy market. Think hard about the terms of the lease (length, inclusions, pets, security deposits), and remember that it pays to cater to Millennials and Baby Boomers who are looking to downsize! Have any questions? We’re always happy to help! Just give us a call at 215 699 5555.