According to the Detroit property Management Company the time for land lording is now. Many landlords and property owners feel that the economic downturn has made things really difficult in this business. However, the management company thinks that now is the best time to invest in properties. Here are the reasons why:
- Many foreclosures have forced people to rent. Top rental properties are high in demand. The rental rates are always going to rise despite the way the economy is. This means more cash for you.
- At the same time, it is also a buyer's market as the mortgage rates are low. So you are going to love locking in the lower interest rates.
- Naturally, for landlords having cash, it is the best time to invest in more properties as the home prices are really low. If you have a property that you have been eyeing for a while, snag the deal now and prime it up for when the market recovers.
- Since the rental market is doing very well, vacancies are being filled real quickly. The chances of getting good quality tenants are also very high.
- Home prices have more or less stabilized but inflation is still looming on the horizon. This means that landlords who have held their ground and locked in lower mortgage rates for the past few years are going to be rewarded for their patience.
So, according to the management companies, landlords have various reasons to rejoice! Indeed, your time is now!!
