There are dozens of excellent reasons to invest in Tampa rental properties. It doesn’t matter if you’re planning to buy your first investment or you’re looking for opportunities that will complement a growing investment portfolio; Tampa and the surrounding areas are increasingly profitable markets for property investors. Today, we’re looking at some of the best reasons to rent out a home here.
Tampa’s Economy is Strong and Diverse
Tampa is a thriving international city that still manages to maintain a low cost of living. The entire metropolitan area is large, residential, and bursting with economic opportunities and jobs that pay well. There’s a lot of new business coming into the area, and plenty of established companies and employers that have contributed to the strength of the local economy.
A variety of industries are represented. The military has a large presence at MacDill Air Force Base, hospitals like Moffitt attract patients and providers from all over the world, and schools like the University of South Florida and the University of Tampa also offer employment as well as education. Technology giants, professional sports, and financial service companies all lead the Tampa economic base.
Affordable Investment Opportunities in Tampa
In some markets, investors must decide whether they want to earn regular cash flow or sacrifice that immediate return in exchange for long term appreciation gains. Tampa investors can do both. The property prices are currently within reach for investors at all levels, especially compared to other east coast cities. And, property values are climbing. You can spend less on a Tampa property than you would elsewhere, collect a rent that covers your expenses, and watch your asset appreciate in value. Tampa is an investor’s market.
Tampa’s Rental Market is Stable
Average rents in Tampa have increased more than eight percent over the last year. We expect they will continue to go up, and investors will have a strong tenant pool to keep their properties occupied. When you provide a well-maintained home that’s priced correctly, you can expect to rent it out to highly qualified tenants within a couple of weeks.
Investing in Neighborhoods
When you decide to buy an investment property in Tampa, you have a lot of choices. You can take a look at new construction downtown, near the city’s newly renovated Riverwalk, or you can consider single-family homes in growing suburbs like Wesley Chapel, Apollo Beach, or New Tampa. There are duplexes, condos, and townhouses. Choose a new construction home with an HOA or a renovated bungalow in historic neighborhoods like Hyde Park or Seminole Heights. There are a lot of options, and if you’re not from Tampa, we can help you make a good choice.
Generally, investing in real estate is an excellent way to earn income. When you get help from a professional property management company before you buy, you’ll have a better chance of enjoying a successful rental experience. We can tell you what your home is likely to rent for, how long it will take to find a good tenant, and whether any repairs or upgrades will be necessary before you put it on the market.
Investing in Tampa is an excellent idea. When you’re ready to get started, please contact us at Real Property Management Leaders.
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