Hometown Property Management – 2014 A Great Year for Renting

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olympia property managementThe conventional thinking is that people rent because they can’t afford to buy. Well, that’s not really true anymore. “A lot of people are choosing to rent for the lifestyle choice,” says Andrew Barkis, owner of Hometown Property Management.  “Younger generations want to be more mobile and not as attached.”

Renters typically don’t have to worry about fixing a leaky pipe or roof. They can call the owners or the property managers. Renters also don’t pay property taxes and can change locations as soon as a lease ends. This flexibility isn’t a viable option when you’re attached to a 30-year mortgage.

Right now is a great time to rent. “The inventory that has been a challenge over the past couple of years has stabilized,” says Barkis. Looking ahead, Barkis expects to see more rental properties on the market in 2014.

The flipside to renting is that you’re paying but not owning. The trick is to find a home that fits all your needs and stays within your price range. The most requested rental property at Hometown is a 1600-1800 square foot house with three bedrooms and two and a half baths.  The typical monthly rent is between $1250 and $1450.

The Olympia area is somewhat unique in that prices are affordable. “We have not seen the drastic swings in rent like in King County and Pierce County,” says Barkis. “Rents have stayed on par where they were the past couple of years.”

olympia property managementJust like buying a home, when it comes to renting location is important. Hometown manages a variety of properties across Thurston County. In recent years the biggest market has been Lacey. The city underwent a construction boom in the early to mid-2000’s.  Barkis expects the Lacey rental market to remain strong in the coming year..“Lacey is one of the most requested areas especially for the military because of the community and proximity to JBLM.”

Another aspect to consider, when renting, is finding a landlord that you can trust. As Barkis notes, “all landlords are not created equal.” It can be difficult to get a landlord on the phone or come over to address a problem. The reverse is also true. Homeowners renting out their house may run into tenants who don’t pay on time or damage the house.

This is where a business like Hometown Property Management comes in handy. The professionals at Hometown conduct a thorough screening process of the home, the owners and the potential renters. To find out more about the services Hometown offers call 360-456-7368 or visit their website by clicking here.

 

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