Although mortgage rates remain low for now, homeownership remains a real challenge for some, especially for first-time homebuyers. Home prices have risen faster than income levels, which has caused the real estate market to slow down.
The recent real estate market shifts
Four of the main reasons are:
- The large down payment that comes with buying a home
- Maintenance, repairs, and home improvements can be costly and stressful
- The ability to easily relocate with a job change
- Feeling stuck in one place for too long
These are just a few of the reasons why even big changes in the housing market may not downwardly affect the renter pool. Also, as more homes become available for purchase, investors could very well decide to take the plunge and invest in even more properties to rent out.
When more rental properties become available, the demand becomes less intense and that’s when rent prices usually start to decline. This gives renters more incentive to continue renting, saving money and delaying a home purchase for a longer period of time.
Because housing affordability has a direct effect on renting, especially for first-time homebuyers, it’s fair to say that a steady stream of renters will keep occupancy rates fairly high.
As rental properties increase, rental property investors must decide how to manage them. Property management is a commitment of time and often detracts from an investor’s main business or valuable family time. If you have a penchant for do-it-yourself projects, you have an advantage over most property owners. It’s an obvious way to save dollars, but it can be demanding and sometimes overwhelming.
Property management companies in Texas stay busy overseeing the management of rental properties for many investors. One of the most distinctive and reliable property management companies in Texas is Cousin James Management with a large footprint encompassing North Texas and the surrounding areas.
Cousin James Management is no newbie to the property management industry, having a proven track record of success for more than 25 years. The family-owned business that professionally manages residential and commercial rental property throughout the Dallas / Fort Worth metroplex will expertly handle all of your property management needs.
Regardless of real estate market shifts, or other economic factors, whether you own a single rental property or several, don’t underestimate the tremendous value that comes with hiring a proven property management company.
Let us do the heavy lifting while you and your family enjoy the rewards of being a successful investment property owner. You’ll have more time and less stress when you let the pros do the work. Contact Cousin James Management today and find out more.