Rents Are On the Climb. How to deal with our changing real estate market.

Rents Are On the Climb

by Michael Nash REMAX Masters Property Management

The last couple of years have been a whirlwind when it comes to prices in the Denver Metro area, we have seen interest rates at historic lows, prices on homes at historic highs and rents on the climb. What does this mean for homeowners? Should you be on the lookout for investment properties? Working towards higher rents in your current investment, or putting more money into your vacant rental? All signs point to a resounding YES! Market trends expected this wave of price hike after price hike to cease after rising interest rates started hitting the Colorado economy, but just the opposite has happened. According to the Denver Business Journal, “In the first quarter of 2022, Highlands Ranch saw its typical home value grow by 9.9% to a typical home value of $777,744, according to Zillow. “

So, what does this mean? Its time to grow your portfolio! Rates are stagnating and prices are as well, but what isn’t... rental rates. According to 9 News, “Rent in Denver is up an average of 15% over last year. With rental rates jumping higher than the rate of inflation, renters are being stretched thin and priced out.” This means more cash flow and a higher potential for more profit. With fantastic loan options available, now may be the time to secure your investment property. 

Is a rental property the right option for you? A lot of people are scared to get into the rental market due to the time and effort that it takes. But with many companies in the Denver Metro area offering assistance in all areas, the process is fairly seamless and painless. Companies like REMAX Masters Property Management partnered with REMAX Masters Millennium make this possible. They realizing they need to offer more to clients, as in, helping locate rental properties and being the purchasing brokerage as well as the property management company keeping the transaction very stress free.

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