One of the biggest questions that investors, landlords, and renters across the country have right now is if demand for rental properties is going to rise in 2019 and the answer to this question is yes demand for rentals is expected to rise next year.
Why Is Demand for Rentals Going to Rise?
There are a variety of reasons why demand for rentals properties are going to rise next year including the following:
- Mortgage interest rates will increase – With further rate increases we can expect to see more people holding off on buying homes and continuing to rent properties in California and across the United States.
- Migration – Even though California was one of the top states nationwide that had a lot of people moving out of the state last year, we had a lot of inward migration as well and that inward migration will, of course, increase demand for rentals statewide.
Besides rate increases and migration being key reasons for an increase in the demand for rentals nationwide, another huge reason why we expect 2019 to be another big year for rentals is the fact that we have a diverse mix of renters nationwide.
In 2019 we can expect to see people across all age groups who will be renting properties in the Central Valley including people from the Baby Boomer, Millennial and Gen X age groups.
What Will 2019 Hold for Owners?
With another HUGE demand expected for rental properties nationwide, it’s going to be another great year for owners who want to capitalize on the demand for rental properties with affordable rentals.
The key to success with meeting the demand for rental properties if of course hiring a professional property management company to manage those rentals for you.
If you own rentals in the Central Valley and are tired of managing those rentals yourself, contact RPM Central Valley today by calling us at (209) 572-2222 or click here to connect with us online.