Top 4 Real Estate Trends Predicted for Renters in 2018
Top 4 Real Estate Trends Predicted for Renters in 2018
2018 is here and the real estate market is continuing to evolve with new growth and challenges. Here are the top 4 real estate trends predicted for renters in 2018 according to real estate experts.
1) Rental Options: The rise of the short-term rental market has created a boom in opportunity for large property owners or the single family owner states Susan Leger Ferraro of Peace, Love, Happiness Real Estate. Priorities range from renting a room occasionally for extra cash to renting entire vacation homes at three to five times the local and regional market since you now can access a global community.
2.) Community Living: Coliving and community-driven residential will increasingly have a larger impact on the multifamily industry as it changes to reflect a new wave of renter demands and wants according to Benjamin Pleat, Doorbell Inc. Just as amenities have defined the last decade of commercial real estate development, the need for unique experiences and services will heighten competition.
3.) On-Demand Access: Anthemos Georgiades of Zumper often hears from renters that they are too busy to sweat the small stuff. They want immediate tour confirmations, like booking a restaurant on OpenTable, and near-immediate confirmation that they have leased, like booking a hotel. This real-time service expectation from a new generation of renters is exactly what we plan to cater to in 2018.
4.) Micro Units: Rental rates have been increasing across urban areas for the last several years, and the most impacted cities have seen a rise in micro units. These well-designed rooms, as small as 200 square feet, maximize every square inch available. Places like The Panoramic in San Francisco and Yotel in New York have been the first to embrace the model, and Nav Athwal of RealtyShares sees this trend expanding over the next year.
Are you looking to rent a home in Tucson or are you seeking a Tucson property management company to care for your real estate investment? Please contact Simply Property Management – Paielli Realty, Inc today. We provide a wide array of specialized property services in Tucson to fit your needs, and we keep it simple, not complex.
Greg Paielli
Simply Property Management – Paielli Realty, Inc.
https://tucsonpropertymgmt.com
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