The current housing market is on fire, and there is no doubt about it. Many people have questioned if there is a housing bubble and will it pop soon? Well, the answer is no and no. The real estate market is currently experiencing a mismatch between supply and demand, causing the price of homes to increase to all-time highs. Because of the low demand and higher price tags, many folks choose to rent houses instead of purchasing. This trend is opening the door for more and more people to make the investment jump into becoming a landlord. Of course, the traditional way of becoming a landlord is by purchasing houses and apartment buildings and filling them with tenants. However, here are some other options for those who are on the fence or just do not know where to start.
Downsizing
Whether the kids have left the nest or you are getting too old to manage the property, downsizing is an excellent choice in today’s market. Downsizing is always a great option in the Tampa Bay area because of the numerous amounts of condos and townhouses that make it possible. At Gilly Property Management, we specialize in helping clients make that decision, and if they so choose to, we build an executable plan for them. Many of our clients chose to downsize by moving into a smaller home and keeping the original house as a rental property to either continue paying the mortgage or stash away passive income. This allows our clients to keep the house they grew up in or raised kids in and possibly leave it in the will to the next generation.
Airbnb
Another specialty of Gilly Property Management is short-term rentals using Airbnb. Many of our clients are unfamiliar with how to use the platform, where to start, and the amount of revenue this venture can produce. We seat our clients down and provide them with options to make the best financial decision for them. Did you know that renting out a house for the weekend in some Tampa Bay communities can produce enough money to pay for a third of your monthly mortgage? The greater population has not realized this yet, and I recommend you take advantage before they do, and the market becomes overflooded with short-term rentals.
The housing market is not going to crash anytime soon. If you are interested in downsizing or short-term rentals with Airbnb, check out our website and schedule a free consultation. We will produce a detailed presentation to educate you on several profitable options. Check out our many testimonials and what folks say about us on our Facebook page.
Opmerkingen