Are you interested in investing in rental units? When investing in rentals, your first decision is usually whether you want to invest in apartments or single-family homes. While single-family homes may rent out for more money on average, apartments are usually much easier to rent for a variety of reasons -- especially for those who are just starting out.
1. You Don't Need To Worry About Security
Security is a major concern for many renters. With a single-family home, you need to think about security systems, cameras, gates and other amenities. However, in an apartment complex, the apartment association usually takes care of any security needs. Many apartment complexes have gates, security systems and security guards already in place so that you don't need to worry about your own personal liability should there be a break-in or theft in one of your rentals.
2. You Don't Need To Maintain Landscaping
Landscaping is an extremely expensive part of owning a home -- even a rental home. When your tenants are occupying the property, you need to make sure they are maintaining the grass and other landscaping properly. When your tenants move out, you need to repair the landscaping as necessary and restore any plants or grass that has failed to thrive during that time. In an apartment complex, common areas are usually taken care of by the association.
3. You Can Fill Your Units Faster
Though single-family homes may rent for more individuals, apartments may rent faster because they are cheaper. Renters are often in the market for apartments but they may be less willing to rent single-family homes because of the price and because they simply don't need the space. Many larger rental markets, such as the big cities and college towns, are naturally predisposed towards apartments as a part of city living.
4. You Have Less To Maintain
Overall, apartments simply require less maintenance than homes. You don't need to repair the foundations, spray the attic with pest control chemicals or waterproof the basements. Apartments don't generally require complex central air systems and they can usually be served by small, tank-less water heaters. The less maintenance that is required, the larger your profit margins will be.
Don't forget that you can get a property management company, such as Horizon Court Properties, to manage your apartment rentals for you, offering you income without having to do the legwork on your own. A property management company can help you meet your investing goals with as little fuss as possible.Share