Real Estate News: Why it’s Good to Invest in a Rental Property…Today!
Buying rental properties in metro Denver helps to build long-term wealth. Our record low vacancy rate is a big driver of why rental property has performed so well.
First, the lower the vacancy rate the higher the demand for the property. More demand means landlords can be more selective when choosing their tenants and they can can also charge higher rents. Rents have skyrocketed the past few years because the vacancy rates have remained so low.
One of the reasons vacancy rates are so low is that many people cannot qualify for a loan. I don’t expect this to change for the foreseeable future. We’ve had a huge shakeout in the lending industry and lending guidelines are much stricter than they were in the past. Until lending standards ease up I expect vacancy rates to remain low and keep investors happy.
Let’s circle back to the incredible strength in our housing market. It’s apparent that our real estate market is doing well month after month, year after year and being that there’s a demand for supply, you can get the best price point. So if you’re looking to sell your home this should be very welcoming news!
If you’ve ever thought of investing in a condo or house as a rental property call me and I can show you what the numbers look like and what options you have. If you’re looking to sell your home, call me and I be happy to help!