Buying rental property can be an outstanding long term investment. If you’re thinking about selling your first home or your second home, think about what you have to gain by renting out that property instead.

Scottsdale Property Management: Renters Are Abundant

The ratio of renters to buyers is on the rise. There’s a growing demand for rental properties because more people are comfortable with renting versus owning a home. There’s also a tightening of restrictions on credit standards. It’s a bit harder for people to get a mortgage and own a home. Lower incomes are also discouraging ownership in favor of renting. People of all generations are now comfortable renting, which gives you a deeper pool of renters. People need a place to live – somewhere to call home.

Phoenix Property Management: Long Term Investments

You may be wondering how much you can rent your property for, and how much cash flow you can earn. We are here to help with that.

At Keyrenter Premier Management, we can do a deep rent analysis for you. That includes putting together comps from the MLS and from a proprietary software we use. With the two analyses, you will be able to see comparables in your neighborhood, rent trends, and vacancy rates, all designed to give you a good understanding of the rental market in your area.

There’s a tool on our website that helps you estimate and analyze your 10 year cash flow projections. You simply need to input how much you pay in your mortgage, whether you have HOA fees, and the rental estimate. After considering maintenance and upkeep costs, we can project our estimate for your long term cash flow.

Hopefully you will be able to see one of the great benefits of investing; having other people pay those bills for you while your investment grows in value.

Finally, consider this quote from John Stuart Mill:

Landlords grow rich in their sleep without working, risking, or economizing.

How great is that?

If you have any questions about buying rental property, please don’t hesitate to contact us at Keyrenter Premier Management.