What’s in Store for Multifamily Glendale Rentals In 2018?
By Utopia Property Management
Are you wondering what’s in store for multifamily Glendale Rentals in 2018? Most economic analysts are predicting the multifamily rental market to remain strong, especially in Southern California, where supply still continues to lag behind demand, although there are many multifamily projects under construction.
Class A Rentals Will Be Less in Demand
Although many builders have eagerly built Class A rentals across Southern California in recent years, those rentals will be less in demand in 2018 and owners of those buildings can expect longer than normal vacancy rates as there is an oversupply of Class A rentals on the market today.
Class B & C Rentals Will Remain Strong
If you own a Class B or C rental property, those rentals will continue to remain in demand and have lower vacancy rates than class A rentals, even though Class B and C rentals don’t offer the same amenities or features as Class A rentals.
Class B and C rentals are also expected to continue to be the ideal investment of choice for real estate investors, especially those investors from Canada and Mexico.
Recent data from National Real Estate Investor shows us that foreign investors have invested roughly $20 billion dollars in Class B and C multifamily rental properties since 2015 and that figure is only expected to continue increasing because we have a President who has a strong real estate background and is also pro-deregulation.
Class B & C rentals are always in demand especially from Millennials and renters of all ages who are looking for affordable rental properties regardless of the stage they are at in their lives.
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