Selecting the right investment properties can be a difficult yet rewarding task. Beyond the financial performance indicators, many owners want properties that project a sense of ‘community’ for their renters, each property offering something tangible to the identity of the neighborhood.
Ownership of large apartment complexes and high rises in the urban core not only builds your investment portfolio but also helps build up multifamily density in areas where people chose to live as well as work, minimizing transit hassles and commute times for the tenants. These types of properties often offer tenants appealing amenities such as swimming pools, exercise rooms, boat slips, clubhouses, even rooftop bars for social gatherings!
Investing in smaller complexes and individual rental dwellings offers appealing options for renters who want to be a bit further from the hustle and bustle of downtown, offering more privacy. Investing in floating homes or mobile home parks can help provide unique or affordable options for tenants when average home rental prices are out of reach.
Considering vacation rental investments? With the surge in the ‘sharing’ economy and website services such as Airbnb and VRBO, many owners are renting or leasing their vacation homes, or even buying homes in desirable locations and tourist destinations, specifically to use them as short term rentals. Increased demand for all types of properties makes for an investor’s paradise. But owners must be prepared for the inevitable downturn, and for losses or claims that may affect their bottom line.
Our specialists understand your industry and can assist you with more than just the insurance transaction. Whether you’re investing in large high rises, duplexes and fourplexes, other rentals, or a fabulous vacation home getaway, our team can help protect your investment and rental income stream. Our risk management services include analyzing lease contracts, reviewing budget line items in your contingency and reserve amounts to properly reflect potential insurance deductibles, and help with loss control or disaster planning.
Contact us today to confer on your real estate investment strategy! In today’s real estate market, rental investments are no longer limited to full-time investors. Your rewards can be substantial with a moderate investment of capital.