Looking Ahead: The Hottest Trends in the 2018 Rental Market
The market is always changing, and you may never fully know what it can bring you from year to year. But, as an investor, it is important to keep looking ahead so you can strategically plan your next move. For 2018, the rental market doesn’t show any sign of slowing down. This is great news! But, we’ve got you covered as to why that is and how you can get in on the action.
Check out these hottest trends for the 2018 rental market:
1. Atlanta is where it’s at. HomeUnion did a study and determined Atlanta to be the top city to invest in for the coming year. It’s a growing metropolis with no sign of slowing.
2. The millennials are still here. They make up the largest part of the rental market. This age group, made up of a substantial number of transient minimalists don’t necessarily believe in putting down roots. This is what makes them avid renters.
3. Generation Z. Made up of those born after 1995, the Gen Z folks are finding their way into adulthood and into your rental property. This is a huge population – and they are slowly beginning to flood the rental market. As they grow, so will this trend.
4. Branch out to the suburbs. Typically, metro areas boast much of their rental properties within the urban areas. However, there is a growing trend for the suburban life – without the permanent ties of buying property. Rental properties in the suburb areas will see good things with this trend.
5. Investing is a smart move. The market doesn’t show any signs of slowing down. Therefore, if you are an investor and are looking to get in on this rental action, now would be a great time to do so.
6. Rent continues to increase. This is wonderful news, as it means most investors will find themselves getting a great ROI. However, it may draw more investors to the market, which could be a downfall.
7. Older properties are still desired. There was a time when the renter population was looking for new or freshly remodeled properties to rent. However, millennials and other new renters don’t seem to be as concerned with new-ness of the property they choose to rent.
8. Real estate sales continue to rise. The market is healthy which is good news for investors looking to buy, flip, and sell properties.
Investors will always take a chance in the rental property market. Will the investment be worth it? Will you be able to maintain tenants? Will you be able to sell should the rental market decline? These are just a few of the questions you will have to consider. It’s a risk. But, if you weigh the options carefully and look at the whole picture, you can find yourself in a very rewarding position.
And, by the looks of it, 2018 is going to be a great year for investors like you!