Strong rental markets are recommended by Marshall Reddick Real Estate Network.

Speaking in a general way, rent control can be a detriment to property value, specifically rentals. It is wise for one to attempt to stay clear of rent controlled ares, property values often decline over time in such areas, which can make it difficult to raise rents. Chicago, New York, and parts of California feature rent controlled areas.

Quality Educational Institutions

It is essential to have a quality school system, as the importance of education cannot be overlooked. The chamber of commerce and the school districts themselves can typically provide detailed information about their institutions. Whether one’s goal is to resell, rent, or take up residence in a property, a good school system is an important consideration. Those interested in discovering the quality of education in a particular city should invest in a copy of The Places Rated Almanac, which rates over 365 cities.

A Thriving Community

It is also essential to acquire property in an area that is thriving as opposed to struggling. This goes far beyond the area’s appearance, but includes the overall direction in which it is moving. It is wise to attempt to purchase property, whether commercial or residential, at a time when prices are reasonable and then wait until the area’s market experiences a boom before selling. In this way, the most profit can be made.

Signs that an area may be experiencing a decline during which property values would plummet include the following:

• Yards looking neglected and unattractive

• The failure of local businesses

• Properties going into decline

• Roofs and fences falling apart

• An increase in the areas crime rate

Signs that a community may be improving or headed toward a boom include the following:

• The neighborhood’s appearance is getting better

• Improvements are being made to older homes

• Population is growing

• New businesses coming into the areas

• New home construction

• An increase or consistency in property values

• New franchises opening up in the area

To learn more about which rental markets are recommended, one should feel free to visit www.mrren.com, or call 949-885-8180 for more information.

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