Finance Real Estate Rentals with a Washington Private Money Loan
Every New Year brings predictions for the real estate industry and rental housing market.
No one can predict the future with total accuracy. But experienced real estate investors recognize the pitfalls and potential that come with rental industry trends.
Here are four real estate rental market predictions to consider while strategizing your investment plans for the year ahead:
Four “Look Ahead” Predictions for the Rental Housing Market
- Rental Market Growth: High housing costs and rising interest rates will continue to price potential home buyers out of the real estate market, boosting the rental market. 35% of households in the US live in rental properties. While most reside in multiunit apartment buildings, they are not the most popular type of housing. 26% of tenants live in detached single-family homes, and others rent townhouses or condos, duplexes, and other types of units.
- Higher Rental Rates: Increased rental demand equals increased rental rates. Competition for quality rental units is strong in housing markets across the country, and landlords are taking steps to recover from emergency protections put in place during the pandemic. Experts estimate a continued rise in rental inflation – though analytics indicate a leveling off as the housing market cools.
- Tenant Demands: As otherwise would-be home buyers are turning to long-term rentals and work-from-home trends continue, the demand for ample space and amenities is increasing. And tenants expect more for higher rental rates. Properties with multiple bedrooms, office options, updated appliances, security systems, central air, and “smart” features are sought after – and will draw top rental dollars.
- Technology Impact: The use of technology will continue to impact and streamline the real estate rental industry. Many of the processes and tasks that investors, landlords, and tenants deal with will be automated, from rental property listings, to applications and tenant screenings, to property management.
The rental properties you choose to purchase, how you manage them, and your response to tenant needs is vital to your success as a rental property investor. Keep an eye on rental industry trends. It will help ensure you see the best return on your investment.
Get a Washington Hard Money Loan for Your Next Rental Property Project
Our private money lending team has been in the real estate industry for three decades. Our experience means we can “predict” a few things: We deeply understand of our clients’ investment needs. We’re here to help when you need financing fast and without hassle. And our streamlined, equity-based hard money loans allow us to quickly fund your loan request based on your available collateral and repayment plan. Unlike a conventional lender, your credit and employment history are secondary. So finance your Washington rental property investment purchase with a Gregory M. Russell hard money loan. Call us today at 1-888-477-0444 or complete our online loan application form. It’s quick and easy.