Do you think there’s a high demand for rental units?
Rental Units High Demand
As I’ve been saying for quite some time, there’s a High Demand for Rental Units. Yes – we have a severe shortage of available inventory of homes for sale in this country. In fact, that’s not expected to slow down in the near future.
But here’s a slant on a different segment of the market which I haven’t spoken about. And that is the rental market.
The demand for rentals is on the rise. And this should be continuing for quite some time. Nationwide, we will probably need millions of new apartments and rental units to meet the increased demand. To meet this rising demand, it is estimated that a minimum of 325,000 new rental units will be needed to be built each year. To give you an idea of how large a number that is, 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. Sound interesting? Give us a call