If you’re thinking about investing in rental property in Fort Myers or anywhere in the 33907 zip code area you might be wondering what makes a good rental property in Fort Myers. We’ll share with you 3 of the factors to see if rental properties are right for you…
Rental properties can be a great investment. From the cash flow to the security of owning a real asset, real estate investors have known for a long time that rental properties are an amazing asset to keep in your portfolio. But one question persists that needs to be answered before you invest, “What makes a good rental property in Fort Myers?”
After all, you don’t want to invest in ANY property – you want to invest in the right one! So, here are 3 of the best factors that make up an ideal rental property in the 33907 zip code and surrounding area.
What Makes A Good Rental Property In Fort Myers?
#1. Strong House, Cosmetic Upgrades Only
When it comes to rental properties, time is money. While a fixer-upper might seem like a steal initially, the effort required to get it rent-ready can significantly delay your return on investment. Each day the house sits vacant is a day of lost rental income. Opting for a move-in ready option might involve a slightly higher upfront cost, but it offers several advantages. A well-maintained property with minimal issues typically only requires cosmetic upgrades, which are often quicker and less expensive to tackle. This translates to a shorter vacancy period and a faster start to your rental income stream. In the long run, the time and money saved on repairs and renovations for a move-in ready property can outweigh the slightly higher purchase price.
#2. Affordable
While you might want to spend a little more for a house that is already in good condition, you’ll still want to make sure that it’s affordable. In the Fort Myers area, there’s a mix of properties – some are affordable and others are not. (This is what we do here at Core Real Estate Properties – we find the affordable ones! Give us a call at 239-360-3176 or click here and fill out the form to see some affordable rental properties in the area.)
#3. Good Rental Market
You absolutely need to consider the rental market before investing in a property. Not all locations are created equal for rental income. In some areas, the housing market might be so strong that most people choose to buy rather than rent. This could leave you struggling to find tenants and keep your property occupied. On the other hand, some areas might have a very transient population, with renters constantly moving in and out. This can be a hassle for landlords, as it means frequent vacancies, reletting costs, and the potential for more wear and tear on the property. The ideal rental market fosters stability. You want a location that attracts renters who plan to stay put for a longer period. This translates to reliable income for you and a sense of community for your tenants.
Summary
Unfortunately, finding a rental property that ticks all the right boxes can be a real challenge. Here in Fort Myers, it’s no different. You might be struggling to find a place that offers the three essential factors you prioritize. But don’t worry, that’s where we come in! We understand the Fort Myers rental market inside and out, and we’ve built a strong network to find properties that meet your needs.
The good news is, we’ve already done the legwork. We have a curated inventory of rental properties that not only prioritize your three key factors, but also go above and beyond with other qualities that make a great rental in Fort Myers. By working with us, you can bypass the time-consuming and often frustrating search process. We’ll take care of finding the perfect match, so you can focus on the exciting part – moving in and making your new place your own.