LEHI, Utah, Jan. 31, 2018 /PRNewswire/ -- Vice-President of Property Management Inc (PMI), Bryan Birdy, released his 2018 U.S. Rental Housing Forecast on Monday. In the forecast, Birdy states that due to indicators in the U.S. housing market, for the coming year he anticipates a continued and increasing demand for rental housing and that rental real estate will remain a sound investment choice this year.
One of the primary factors that will create the demand for rental housing is the financial situation that the millennial generation faces. "Millennials are wanting to buy homes, but they are still facing student loan debt, and high rent makes saving for a down payment challenging. Combined with the upward movement of mortgage rates, home ownership is out of reach for most millennials, increasing the demand for rentals." With this increasing demand for rentals, Birdy points out that many locations throughout the U.S. offer quality real estate investment opportunities. Birdy suggests that "by looking at employment growth, population growth, increase in home values, and rental yield, we find that both Florida and Texas have multiple cities that rank among the best places to own rental property," and he lists his 20 top cities to own rental properties in 2018.
Birdy has been in the property management industry for 18 years and is an expert in residential investment property management. He notes that forecasts are not always accurate, as 2017's housing forecast turned out to be off target but feels that 2018 will be strong for rental housing. For those looking to invest in real estate this year, Birdy recommends that you "target your properties and marketing to the millennial generation as they are most likely to create the demand for rental housing. But keep an eye open for the fastest growing demographic in the rental market, the 55-and-over group who are selling their homes and moving into rentals."
About Property Management Inc.
Property Management Inc. is a property management and real estate services company providing leading-edge technology, training, systems, and support to more than 200 franchises. The PMI network manages more than $5 billion in assets globally and is recognized as a leading property management franchise. Its innovative franchise program provides the only platform that unifies the four pillars of property management: residential, commercial, association, and vacation rental. PMI is currently named on the Inc. 5000, Entrepreneur's Franchise 500 list as "Best in Category" winner for 2017 and 2018. Additionally, PMI is ranked as one of the Top 100 Global Franchises in 2017 by Franchise Direct. For more information, please visit www.propertymanagementinc.com
Media Contact: Cassie James, Property Management Inc.
SOURCE Property Management Inc.