Florida foreclosures have left a lot of people hesitant to buy, but that has opened the door for rental property management in Jacksonville.
There is a lot of talk about the benefits of owning a home. Owning your own home provides investment opportunities, opens the door to additional tax deductions, gives the owner more borrowing power and offers an increased sense of stability that often benefits the entire family. However, purchasing a home isn’t right for everyone. Whether you aren’t willing to commit to a location, are hoping to grow more in your career before you buy or aren’t willing to take on the responsibility of owning a home for whatever reason, renting is a viable option that comes with a slew of benefits of its own.
The results of one recent study reveal that renters might actually be boosting our economy much more than was previously believed. While it is true that signing a lease isn’t the same as purchasing a house in terms of economic gains, the consistency of renters nationwide and the increasing demands of property management are creating a job boom in the real estate industry.
The National Multi-housing Counsel completes an Apartment Compensation Survey annually, and this year the results of the study indicated promising job growth, largely thanks to the property management field. The survey incorporated data from over 50,000 employees at major apartment firms nationwide.
According to their findings, 65 percent of multifamily apartment firms increased their employee base during the course of the past year. Of the firms that added employees, many hired at least 11 new people within the past year, which is a significant amount of job growth. The largest reason for the increased demand for employees was for additional property management and leasing support.
A lot of people overlook property management, but this is now a substantial part of the real estate industry. Property management firms benefit from having the experience and support in place to make the rental process go smoothly, from preparing a property, finding a tenant, organizing the move in and structuring payment schedules.
The real estate industry as a whole has been a struggling field for a lot of people who have been unable to maintain a steady income with the lull of home sales. While Jacksonville foreclosures have left many people either unable or uncomfortable buying homes at the moment, that opens more opportunities in the field of rental property management.