It’s no secret that the rental market has been riddled with challenges in recent years. Owners of rental properties and people in charge are often faced with increased regulation, labor and material shortages, and competition.
However, experienced property management companies in Serra Mesa have the tools and knowledge to help you enter the new year without worries. To learn more about what to expect in 2022, read on!
What will the housing market be like in 2022?
The industry is inevitably connected with the trends of homeownership vs. renting. As with other markets, it has been affected by the post-pandemic economical developments. Consider the following 5 trends that will impact the industry:
- The emergence of more e-commerce platforms will allow the sale and purchase of properties online. The new generation of homeowners are likely not to own a car or keep it all day. More people will tend to live in urban centers with opportunities to go everywhere on foot, cycle, or use public transportation.
- The continued growth of the gig economy and the rise of co-living arrangements as a result. This means that there will be more demand for furnished apartments and rooms, as well as for short-term rentals and extended stay hotels.
- More investment opportunities in the real estate market as more millennials prioritize owning a home or investing rather than spending their money on experiences such as traveling. As they grow older, more people will want to own properties of their own instead of renting them from someone else.
- The growing trend of sustainable and eco-friendly construction. Properties built in this manner will be more expensive to construct, but they will also enjoy a higher resale value. More people will want to rent or buy these types of properties as the world becomes increasingly aware of climate change and its effects.
What will 2022 bring to property management?
In a recent survey, almost every second property manager said that they will try to extend and grow their portfolio through acquiring new properties or clients. A great number also agreed that one of the top priorities is gathering and keeping quality tenants. A third agreed that they’ll work on finding new property owners and going an extra mile for their clients will be their goal for 2022.
Many put great hopes in technological developments in the year to come. With the right toolset, service providers will continue to rely on their exceptional networking skills, client-focused and empathetic support services, and rental market expertise.
What does this mean for landlords and residents?
Although it’s expected home prices and mortgage rates will keep rising in 2022, there are many things to look for. To check which types of improvements to make and what to choose, you should keep close track of ongoing trends. Experts also advise diversifying the portfolio of rental properties, to include not only single-family homes, but student dorms, and many more.
Whether the rental is located within Serra Mesa or anywhere else in the greater San Diego area, with the right help and professional attention, you can be sure that the value of your property will be preserved. As a tenant, you’ll be able to pick from a greater variety of quality properties in the highly competitive market.
How can I get in touch with the leading property management company in Serra Mesa?
You can easily reach Lofty Property Management using our online form or via phone. Our professionals know how to keep a streamlined communication between property owners and residents. They are skilled at resolving everyday complaints, handling complex paperwork, carrying out regular property inspections, scheduling repairs, and handling other property-related duties. This involves timely rent collections, lease renewals, and evictions.
Make a head-start in 2022 by contacting us today for detailed advice and a tailored service package! We are eagerly awaiting to hear from you!