Are you planning on investing in short-term vs. long-term rental properties but you're not sure which is the best investment is the right one for you to make? If so, you've come to the right place!
There's no doubt that 2020 has been a tough year for investors, especially for the short-term rental market, because COVID-19 has been responsible for drying up air travel and stopping people from taking vacations in short term rentals.
Will the short-term rental market ever pick back up to where it was at the beginning of 2020? That's anyone's guess. As of July 2020, the reality is that with some states considering partial shutdowns once again, the truth is that the short-term rental market may not recover until sometime in 2021 or 2022.
Long Term Rental Properties Continue To Be A Smart Investment
If you're serious about investing in rental properties and are looking for the best return on investment, it's a smart decision to consider investing in long term rental properties.
Long term rental properties always produce a consistent return on investment and the coronavirus pandemic has made them more ideal than ever before because while the short term rental market has been hit hard during the pandemic, people are always going to need a place to live, and this is a where long term rental properties come into play.
The key to success with investing in a long-term rental property is all about the location. You want to make sure that the long-term rental that you invest in is in a great location that's close to shops, stores, businesses, and it also has to be in a great School District.
Once you find a great location, you also want to make sure that it's an up-and-coming location. This means that people want to move in instead of moving out.
If you find that rents are low, and other landlords in the area are actively marketing vacant rental properties, this should be cause for concern and lead you to question what's going on with that area before you invest there.
After finding a great single-family home, or multi-family investment property, you also want to take the time to visit that property in person, have it professionally inspected, and look over the books for the property to confirm how much income it’s earning every month.
During the process of evaluating a rental property, you also want to overestimate your expenses just so that you have a cushion every month in case something breaks or needs to be replaced.
Contact JD Homes
At JD Homes, we specialize in full-service Property Management including maintenance, rent collection, accounting and so much more!
Our company can assist you with sourcing, acquiring, and managing Atlanta area rental properties.
Let us help you add your first long-term investment property to your portfolio. Contact us today by calling (770) 506-2630 or click here to connect online.
