We often get questions about the best type of property to own when you want to lease that property to tenants. Today, we’re talking about what types of homes will earn you the most money as an investor.
Property Management St. Louis: Location is Important
The most important thing to consider when you’re renting out a property is location. We all know that location is key in any type of real estate investment. An up and coming neighborhood can give you the return on investment that you’re looking for when you’re renting out properties.
Property Management St. Louis: New Homes vs. Older Homes
A newer home will often be easier to rent than an older home. Look for properties built after 1978. They have a higher return rate because there won’t be any issues with lead based paint or galvanized steel piping. Also, they just have fewer repairs in general.
Property Management St. Louis: Size Matters
Smaller homes can also be a better investment when you’re renting to tenants. Like newer homes, they seem to have fewer repairs, and you can rent them out at a cheaper rate. Tenants like getting a bargain.
If you have any questions about renting to tenants in St. Louis, or you’d like help with property management, please don’t hesitate to contact us at Select Leasing & Management. We are ready to assist you with anything you need.