By Amelia Barrett
2015 is shaping up to be another great year if you own rental property because Nevada County Renters are on the rise and you can expect a greater demand for your rentals if you have vacancies this year.
What Is Rental Demand Increasing?
Although we’re experiencing the best Real Estate market in decades, and it’s easier for homebuyers to purchase homes than ever before, demand for rental property from Nevada County Renters is increasing due to home affordability issues and the fact that more millennials are staying out of the Real Estate market rather than buying homes.
What to Expect For 2015
If you own rental property in Nevada County you can expect another busy year as more people will be searching for homes, town homes and apartments for rent in the area.
Recent data from Axometrics showed that there were 2 million more households in the United States during 2014 which could be classified as renting instead of owning homes.
Many industry analysts have said that one of the biggest reasons why the nationwide home ownership rate is so low right now is due to the fact that most jobs are what can be considered “low wage”, or part-time, and this is driving people to the rental market.
21 Year High for Rental Occupancy
Did you know that the nation-wide rental occupancy rate has now reached a 21-year high?
Many publications including “Bloomberg Business” predict that rental demand will only continue to increase until wages increase.
What does this mean to you?
Now is the great time to buy another rental property in Nevada County or elsewhere in Grass Valley.
Nevada County Rental Property Management
To speak with me about the affordable Nevada County property management services Barrett Property Management can offer you contact me today by calling (53) 470-3272 or click here to contact me through my website.