2016 Rental Forecast
Do you currently own an investment property, or are you thinking about putting yours on a property management program in Destin, Pensacola or Mobile? Now, more than ever may be the best time to do so.
Our property managers have done some research on rental trends as we head into the New Year, and the overall take away seems to be the fact that there is a growing demand for housing and that people are willing to pay…
The rental market as a whole showed incredible growth in 2015, with rental rates and occupancy levels reaching historic highs of 5.6% and 96.1%, according to MPF Research. The rising rates can be partially attributed to the demand for rental units amongst millennials. The real estate market’s recovery has made it increasingly harder for this group to take the plunge into homeownership. As a result, the rental market is expect to growth by 4.3%, which is 1.3%-1.8% higher than the historical average. Couple this with a growing demand for housing, and all signs indicate that a good year is ahead.
Are you interested in learning more about how to rent your home? Contact one of our property managers today for details on market trends and what to expect.