There's never been a better time to rent out your apartment - at least not in the last decade or so! According to the Wall Street Journal, demand for apartments in the U.S. reached a five-year high this spring. Cal Bay Property Management's Scott Safadi has witnessed the local rental market explode through the years. As the Bay Area has increased in popularity, so too has the demand for rentals.
Given the healthy state of the economic climate, it's safe to assume that investing in property development and rentals is a smart move. Even if the five-year peak won't be topped any time soon, the market shows no sign of slowing down. While it's impossible to predict the future, it's important that property owners understand just how great the apartment demand in the Bay Area truly is at the moment.
Because there is such high demand, many of the most challenging aspects of being a landlord disappear. You'll rarely, if ever, need to worry about vacancies. Nor will you need to attract leads or go through complex screening processes. In fact, if you partner with the right property management company, you can hand off all these tasks for as long as you'd like.
If you're considering renting out your apartment building or multifamily community, consider partnering with Cal Bay Property Management. Locally-owned and operated, we've got the insider's advantage you'll need to stay successful regardless of the market.
- Scott Safadi, Cal Bay Property Management
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