The high demand for rentals is increasing.
Rentals High Demand
I’ve been saying this for quite some time. There’s a High Demand for Rental Units. It’s a fact that there’s a severe shortage of available inventory of homes for sale in this country. And in the near future, that’s not expected change anytime soon.
However, there’s a different segment of the market which many people aren’t aware of. And that segment is the rental market.
Rental Demand is on the Rise
The demand for rentals is rising. And all signs point to this to continue for quite some time. Nationwide, to meet the increased demand, it’s estimated that we’ll need millions of new apartments and rental units. The estimates I’ve read say that we’ll need a minimum of 325,000 new rental units to be built each year to meet this rising demand. However, between 2012 and 2016 only 244,000 apartments were constructed.
Now the average person who would be reading this blog probably does not have the financial wherewithal to go out and build a 20 or 50 or 500 unit apartment complex. However, if you’re looking to capitalize on this, you may have the ability to go out and buy a condo, townhouse, or even a single family home to used as a rental unit.
As I’ve been saying for quite some time now, it is cheaper to buy than to rent. But looking at it from the other side, you can purchase a unit and rent it and probably have positive cash flow right from the start.
If you’re currently renting your home, you can help our country in this time of dire need. How? Buy a home. Move out of your rental and begin to build equity in your own home.By doing this you’ll make your contribution to easing the crisis, which is the high demand for rentals. It’s not much, but you’ll be doing what you can.
Sound interesting? Give us a call