With the pandemic, the real estate market underwent a renewed focus of the population on the home, homeschooling, and a preference for home-based family activities to avoid crowds. In addition, there are no longer the past restrictions of working on-site near larger city centers as much of the population now has the freedom of working remotely. However, increased competition among homebuyers for available properties means many have been pushed out of the market by the prices and need to rent, further increasing the demand for land.
The shortage in housing has caused the demand for rentals to rise, and low vacancy rates will increase the demand further. For Providence real estate investors with land holdings, now may be the perfect time to capitalize on this growing market sector. As inflation rises, so do rental rates, providing land investors that build-to-rent with a steady and secure passive income stream and an increasing value asset. So read on as we explore how landowners are capitalizing on the demand for rentals in Providence.
With these misplaced buyers in mind, developers are focusing on communities of rental homes, providing much of the same benefits that these involuntary rental tenants seek. For investors with smaller land holdings, individual lots can become build-to-rent opportunities to meet the current demands of the rental market and bring the highest possible returns on your investment. In addition, savvy investors with a more extensive land portfolio and who have built a network with local builders may sell the land or become developers themselves. Let professional investors like those at Ocean State Homebuyers guide you and help you get started today; we make it easy for landowners who are ready to begin capitalizing on the demand for rentals in Providence.
Builders who are landowners are capitalizing on the demand for rentals in Providence, offering rental properties they have constructed with renters in mind and offering the property for sale to investors. While the homes are still quality, these rental properties are designed efficiently and focused on cost savings, lacking high-end treatments and features. By working with local professional investors like those at Ocean State Homebuyers, you will have an instant team of the most highly sought-after industry pros, from attorneys to builders to closings and every service provider a landlord needs.
Along with investing in the best available property in the right location, property management is essential to realizing the highest returns on investment. Devising a solid system to follow ensures regular maintenance and repairs and provides tenants with a safe, secure residence. With a strong management style, you will create the pleasant living environment required for capitalizing on the demand for rentals in Providence. No matter the demand, the rental rates, or how great your build-to-rent property may be, if you fail to manage your holding correctly, you will fail to realize the full potential returns. Working with a professional investor, like those at Ocean State Homebuyers, means you will have guidance on every step you take because when our investors succeed, we succeed.
Landowners capitalizing on the demand for rentals in Providence should also be aware that you must take every step to place the right tenants in your investment. A misstep in the screening process can be highly costly, and tenants can cause severe damage, not only to the physical structure but to the enjoyment of the property for other tenants, increasing turnover costs. However, with a systematic tenant screening process, thorough reference checks, in-person interviews, and an active presence on-site, you will further protect the returns on your investment. Knowing the best tenants are in place is easy when working with professional investors like those at Ocean State Homebuyers. With Ocean State Homebuyers, you will also have access to our full-service property management team, who can take on as much or as little of the role of a landlord as you wish. At Ocean State Homebuyers, we care for your investments like they’re ours.
If you are a landowner ready to begin capitalizing on the demand for rentals in Providence, talk to one of the professional investors at Ocean State Homebuyers. At Ocean State Homebuyers, we understand that communication is key to success. You will see the difference working with your neighbors here at Ocean State Homebuyers makes immediately because our professional investors stop everything and listen, focusing on you, the investor. Feel free to ask any questions about working with a professional investor at Ocean State Homebuyers, and we will address any concerns you may have about the process. And at Ocean State Homebuyers, our professional investors are seasoned experts who can help you over any hurdles you feel may be standing in your way and local industry connections for winning investments. And if you’re interested in investing in more land, don’t forget to ask about our current inventory of the best investment properties available in Providence. Call Ocean State Homebuyers at (401) 290 8784.