A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Is this the time to get into the Rental Market?
The business of renting properties has been a very good one
as of late, and many people are asking, is it time to get in. I am of course, a
big proponent of being in the rental business, since my business is Property
Management in Orange County California. But now as rents have been going up and
up, many people are starting to agree with me.
A new report from Zillow shows that
rents are spiking in many U.S. cities, even places where the housing market has
struggled, and in many cases outpacing rent increases in the
hottest parts of the country.
In Denver, for instance, the median rent has soared 10.2% from a year ago.
Rent has climbed 8.5% in Kansas City, 7.2% in Portland and 7% in Austin.
In all these cities, rent is growing more than twice as
fast as the national average of 3.3% and more than three times
as fast as the New York City metro area average of 2.1%.
Even rent in St. Louis is up 4.2%, despite prices that were flat and falling
just two years ago.
“Rental appreciation has been a freight train these past few years, chugging
along without any appreciable slowdown,” said Stan
Humphries, Chief Economist at Zillow. ”Since 2000, rents have grown
roughly twice as fast as wages, and you don’t have to be an economist to
understand why that is hugely problematic.”
A.D. Cantelmo Property
Management Specializes in Property Management in Orange County
Ca.