Since the rate of home ownership is on a decline from the highs we experienced in 2005 at 69% to the rate of under 64% today, with each half of a percent representing one million home owners, we are seeing a rise in rent rolls in Property Management Saint Cloud, Florida.
The large sector of our Millennials now 18 to 34 can't afford to own, or don't have the desire. This is a deterioration of the American Dream. Household between 30 and 34 years old had always been over 50% are now at a record low of 45%. This is attributed to mountains of student loan debt, and low paying jobs in the current economy.
We have seen an almost 10% increase in the rent rolls over the past 18 months. But every rental market has a ceiling that the income from the local jobs can support.
Returns on investment is roughly 8% with homes purchased in the past five years making being a Landlord a great return on investment with rentals. Some situations a little more, and some a little less. Investing in Real Estate has never been better.
Along with those that are not purchasing now, are those that had their credit impacted over the past 10 years from the market down turn as many have issues from short sales and foreclosures that need a little more time to get cleared off their credit history.
At Toni's Property Management LLC we are expanding to a new location in Saint Cloud to service both Kissimmee and St Cloud Landlords.
Toni's Property Managenment LLC is a subsidy of Resident Team Realty LLC.