The housing crisis only seems to be getting worse. As we speak, the U.S. has a shortage of at least 7 million houses.
Finding apartments for rent (or for sale), as a result, is getting tricky as well. It seems like every available rental in your area has 20 different investors fighting to get it. With the market as tight as that, how do you hunt down your ideal rental?
Finding affordable apartments that include all your key requirements need not seem like an impossible task. Nor do you only need to look at luxury rentals. Follow along for our expert apartment 101 hunting guide in Rogers, Arkansas.
Find Apartments for Rent With Security
The last thing you want is a random person walking around your complex. There are almost one million burglaries every year, and that's to say nothing of stalking and other crimes. It's key that everyone who walks into the complex lives there or is directly invited.
Pay attention to security features such as CCTV, a security guard on the premises, and automated gates. Take note of whether security is taken seriously, and if incidents are properly investigated.
If security seems lacking, it may not be worth getting those extra apartment features. Your renters will pay extra for peace of mind, and your property value will stay high.
Know the Caveats With Pet-Friendly Apartments
Everyone wants a pet-friendly apartment, including landlords who want to make it a more desirable listing. But few people take into account what it really costs. Before looking at financing, ask if a place was ever a pet-friendly rental before.
The big thing is that pet-friendly apartments may be worn down by said pets. The floors may be scratched up, the carpet may be stained, and there may be an unpleasant barnyard smell. You will either have to clean and renovate or let it mar your property value.
Think of Its Potential
It's easy to see a place that is old or in disrepair and skip over it. Not so fast. When viewing a place, think of the potential rather than the current state of things.
The changes needed to make it into a great apartment may not be as expensive or costly as you think. For example, an ugly paint job only needs a bucket of paint and a Saturday morning to renovate. That small change drastically improves renting potential if you're willing to find the hidden potential.
Even a beater-upper in need of some love has options. For example, you might consider renting to section 8 tenants for low-income housing. Then there's no need to shell out major cash to make a rental into a rental market cash cow.
Make Profitable Rentals With PMI Heritage
Finding good apartments for rent is no easy task when there are so few to choose from. Still, keep a focus on places that have decent security and take note of pet-friendly apartments. Consider the potential when looking at a place, rather than fixating on how it is now.
PMI Heritage in Rogers, Arkansas focuses on home-grown, full-service property management with excellent customer service. Our 20 years of industry experience helps us better address your special needs. Start your road to profitability with a free rental analysis.
