In earning a profit on a rental investment, Princis uses a formula: He charges 15 percent above monthly mortgage and maintenance costs. But it’s also important to know what comparable apartments are going for, and to be flexible in case you’re unable to find a tenant for months, experts note.
The best investments for rentals typically prove to be in areas with a strong history of rental demand, such as neighborhoods near universities or homes in residential areas that are near schools to attract families.
Source: “Got Cash, Good Credit? Experts Say Owning Rental Housing Can Pay Off Even as Market Recovers,” The Associated Press (Feb. 6, 2013)
Santa Realty are rental experts in the Farmington Valley. We have rental properties of our own and have investors who also peruse the market for opportunities. Contact us today if you are seeking a rental property or looking for a rental! We are the top real estate company in the rental market in the Farmington Valley.