Easiest to Rent

11 Replies

In your opinion…

What is the easiest type of property to rent?

SFR? 2/1? 3/2? etc

I tried searching for this topic but cant find anything

MRM

I would say there are way to many factors that play into this question. Location and quality of the homes would just be a few of many.

Depends on your market and who you are renting to. In my area purchasing a SFR is near impossible because of taxes and purchase price so I don't even consider SFR's. 3/2 will rent to families better then a 2/1. Tough to give definitive answer even with all the facts. Talk to local investors see what they are doing and get an idea of what works best through them.

Those are all sweet spots for rentals, I don't see one being easier to rent over the other, but rather attracting different types of tenants.

In my area, the multifamily properties are all older and I'd presume attract lower quality tenants. There are nice suburban (yet close to downtown of major metro area within 10-15 mins) where SFR predominate but condos are also around. The condos are reasonably priced and after factoring HOA fees, could cash flow reasonably well. The problem is re-sale with condos when I want to upgrade into bigger properties. I'd prefer MF properties but I'm thinking the tenants would be C class tenants. I would prefer A-B class tenants in A-B class properties.

Any ohio (Cleveland area) investors care to share their experiences?

For SFH/TH the 3rd bedroom can make a difference. For condos/apartments a 3rd bedroom doesn't generally increase the rent, but it might open up the market a little broader.

2 bed Apartments rent the quickest for me in relation to anything but If it is a single home we are talking about the 3 bed is always going to be easier to rent then a 2 bed.

2/1 or 3/1... $800-900 month.

Quick results also come from treating people fair and listening.

Frank R

It really does depend on location. I am in the akron/canton area of Ohio, and some sections desire 1/1 apartments, some 2/1, some 3/2. ... there is one location we are in that all of those are easy to rent. It depends on what you are near to.... factory, college, good schools, bad schools. My only suggestion would be to investigate your market as much as possible. Check around and see what is currently for rent. good luck!

Originally posted by @Dale Burnside :

It really does depend on location. I am in the akron/canton area of Ohio, and some sections desire 1/1 apartments, some 2/1, some 3/2. ... there is one location we are in that all of those are easy to rent. It depends on what you are near to.... factory, college, good schools, bad schools. My only suggestion would be to investigate your market as much as possible. Check around and see what is currently for rent. good luck!

 Location is huge for rentals.

One thing on research of the rental market is to make sure you include recently rented units, in addition to what is available.  In a lot of markets you will see something priced a couple hundred over rental value and listed for months.

College towns. They'll take whatever they can get :)

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