|Specialty||# of Agencies|
|Single House or Condo||25|
|Home Owners Association||28|
|Total Local Companies||46|
Massachusetts Rental Market Overview
Bay State Economic Performance Slows to Match National Averages
During the 2008 recession businesses, investors and wage-earners in Massachusetts consistently fared better than the national average. Recent findings from Northeastern University's New England Economic Project predict that Bay State economic numbers will run closer to national averages in the near future. That's not terrible news when you consider that the American economy has substantially improved over the last six years, and that Massachusetts is apparently sidestepping the debt, real estate, and employment troubles that still plague Michigan, Rhode Island, Arizona and others. While Massachusetts is expected to gain more than 120,000 more jobs between now and 2016, a shift in job seekers arriving from other states will keep the Massachusetts unemployment in the 6% range, which mirrors national unemployment numbers. While Boston's revitalized Seaport residential communities remain the crown jewel of Massachusetts investments, plenty of new investment opportunities remain for independent landlords willing to make smart, well-timed entries into the rental property market.
Same Playing Field, Different Rules
While large institutional investors in Boston's Downtown Crossing and other urban spaces make plays for attracting young professionals to multipurpose, 'live-work-play' sustainable urban living spaces, there are still opportunities for independent landlords watching from the sidelines. The most obvious strategy is to anticipate new development and invest in a timely manner. If you're relying on searches for online news regarding new zoning and construction plans, it's likely that you already missed your window for affordable entry. A better option would be to consult a property manager or real estate professional at a Massachusetts property management company. Because many of these professionals already manage rental properties in communities and urban neighborhoods, they're usually aware of proposed plans and the viability of new projects for independent landlords. They can also provide a range of services to you for your new and existing projects, including marketing research, maintenance coordination, lease enforcement and tax report preparations. Find out more about Massachusetts property management companies in your area. Review our company profiles and request your free information today.