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Trending: Millennial’s and Boomers Choose to Rent!

Trending: Millennials and Boomers Choose to Rent

millennial's choose to rent

Real Property Management Columbia

Trends show that more millennials and baby boomers choose to rent rather than buy.

Columbia SC. – Among one of the more interesting trends in the Columbia Metro real estate market is that fewer people are looking to buy their property—preferring instead to rent. Perhaps even more interesting is that many of these new-age renters are committing to their rental properties long-term—even up to 5 years or longer—rather than the standard 12-18 month rental terms.

choose to rentPart of the reason for this new trend in the Columbia Metro area is that many corporations are opening glistening new facilities, attracting job applicants from all over the world, and appealing to new college grads who are looking to boost resumes and employment opportunities. Many millennials report that one reason they don’t want to buy property is because they don’t want to be tied down to a contract should new job opportunities arise. In short, they want the flexibility to go after the latest and greatest job opening when it crosses their doorstep.

Perspective from franchise owner Michael Fisher:

“It’s a fascinating trend to watch,” says Michael Fisher of Real Property Management Columbia—a company which also does property management in the Columbia Metro Area. “This is great news for property managers and investors as well. It means that they get high quality tenants who are willing to commit for a few years and when the property does turn over, there is a fresh pool of similar tenants waiting to take over. Quite honestly, I’ve not seen anything like it.”

This means that there really is no better time for investors to snap up a few rental properties to call their own. And as prices begin to rise, both in buying and renting, locking in those rates now is a great investment plan.

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