|Specialty||# of Agencies|
|Single House or Condo||22|
|Home Owners Association||16|
|Total Local Companies||40|
Ohio Rental Market Overview
Millennials Move to the Core in Central Ohio
While Ohio's unemployment rate continues to improve from 2008 levels, critics continue to point out that the state's job growth and unemployment lags behind the national average. Despite the slow numbers, many real estate developers continue to push ahead with innovative residential projects, especially in central Ohio region. More than 5,000 new residential units planned or under construction in central Columbus according to the Urban Land Institute (ULI) chapter there. Dublin, a suburb northwest of downtown Columbus, was recently recognized in a high-profile ULI case study as a reimagined, pedestrian-friendly multi-fuse community formulated for young professionals who prefer compact and sustainable growth. The Marcus & Millichap 2013 National Apartment Report echoed similar conditions in place for Cincinnati, Cleveland and Columbus, slow but diversified sector job growth paired with smart and moderate rental construction ranked all three of these cities higher this year in the annual NAR listing. Patient property investors should remain optimistic about Ohio's future.
How to Keep Pace with Changes in Your Rental Market
In a 2013 report on Ohio's economic outlook, JPMorgan Chase & Co. noted that the state should keep pace with the rest of the national recovery, although some areas like new home construction continue to lag behind the national average. Timing in regards to market entry are key concerns to in-state and out-of-state investors. While independent property investors can search online for fiscal reports regarding Ohio jobs and new business expansions, much of this data can be incomplete or arrive too late to be of use. That's why many investors and property professionals rely on information and insights from Ohio property management companies. Most of these property managers are real estate professionals who work with real estate clients on a day-to-day basis and recognize market trends long before the news is published in an online business article. A property management company can help you identify neighborhood demographics so you can improve your marketing. Whether you're considering construction on a new rental property or restoring a former Class C loft in a trendy urban district, review our list of Ohio property management companies and request new insights and information today.