Thanks to a recent survey by the Millennium Trust, we know that 73% of investors who were recently surveyed confirmed that they would prefer to invest in single-family homes.
Single-family homes continue to prove to be a smart investment for longtime and new real estate investors because more people across every age group are renting longer than before. With the demand for rental properties in areas like Houston Texas, investors can put themselves in prime positions when they purchase single-family homes and rent those properties out for fair market rents.
Why Renters Prefer Single Family Homes
Besides the obvious economic benefits that single-family homes offer investors, renters prefer single-family homes because most people want to live in an actual home rather than an apartment, condo or town home where they have to share walls with other tenants.
Besides being able to capitalize on the demand for rental properties, investors should also consider buying more single-family homes because of the following reasons:
- Single-family homes often rent for more money than apartments or other multifamily properties.
- Individuals who choose to rent single-family rentals are often more stable than renters who live in multifamily properties because they are willing to put down roots in the areas that they rent.
- Most single-family homes typically enjoy higher appreciation than multifamily properties.
- The average single-family home can be easier to finance than the average multifamily rental property.
Regardless if you purchase a single family or multifamily rental properties, the key to success is hiring a property management company to manage those properties for you because a property manager will save you the time, money and hassle of managing your properties yourself.
Contact Vestpro Residential Services
To learn more about the property management services we can offer you contact us today by calling (832) 971-1841 or click here to connect with us online.