According to a recent study by HousingWire, North Texas is currently the hottest market for rentals in America. As a portion of that sector, this news opens up huge Frisco property management opportunities. According to the report, rent rates in the north Texas areas saw an increase of 4.9% in 2014, with $919 being the average monthly rent for an apartment in the Dallas-Fort Worth metroplex.
“Renters were leasing units almost as fast as they came on the market,” said Greg Willett, Research Vice President of MPF. “Renters leased 15,226 units during 2014 when only 15,575 units were completed, making North Texas the strongest market nationwide.”
In fact, the rental market is so hot right now, that year-end occupancy rates were at 94.7%, which represents a 13-year peak.
Hot Market, Hot Property Management Opportunities
With the growth explosion comes multiple opportunities for Frisco property management. Whether you are already an investor looking for new properties to invest in, or a new investor looking for property management opportunities, now is the time to jump.
Young renters are attracted to the market for job growth as Dallas-Fort Worth houses many corporate headquarters and Fortune 500 companies. Young families, singles and boomers alike are attracted to the Dallas rental lifestyle.
If you need assistance in finding rental properties, attracting tenants through professional marketing campaigns, or any other aspect related to property management, contact the leader in Frisco property management companies, Specialized Property Management.