|Specialty||# of Agencies|
|Single House or Condo||2|
|Home Owners Association||5|
|Total Local Companies||8|
The average rent for a 3 bedroom house in Toledo, OH is $972.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
Searching for a property management company in Toledo, Ohio to manage your rental property, real estate investment, community or association? If so, you have come to the right place. All Property Management is the internet's #1 site helping Toledo, Ohio property owners and association or community board members to find property managers that best match their management needs. Click on the "Toledo, OH Property Management Companies" tab and use the "FREE Quote" button below to contact one of our professional property managers in Toledo, Ohio for both commercial and residential properties.
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For the last five or so decades, the economy has not been kind to America's Rust Belt. While once acknowledged as the industrial heartland of the United States, many large Midwestern cities have been declining since the middle of the last century.
Every city is different, however. Toledo, for instance, has managed to adapt by shifting its economy from manufacturing to healthcare and financial services, among other industries. Despite the city's naysayers, its economy is recovering, albeit slowly.
Although it gets a nod for its low cost of living (ConsumerAffairs listed it as one of the cheapest housing markets in the U.S.), Toledo recently took the dubious award of being third on WalletHub's list of the worst cities to start a career in. The study cites the city's high unemployment rate, negative wage growth and poor education rates (only 17 percent of Toledo residents have earned a bachelor's degree) as justification for this low ranking.
All is not lost, however. WalletHubs's Jill Gonzales tells the Toledo Blade that she's optimistic, calling Toledo "the most hopeful city within the rust belt."
Despite this northwestern Ohio city's hot, humid summers and cold, snowy winters, residents love "The Glass City" for the Toledo Museum of Art, the Toledo Opera, the Valentine Theatre and the Toledo Zoo. They also appreciate the fact that their children can attend the University of Toledo or nearby Bowling Green State University after graduating high school.
Toledo's real estate market offers a broad range of home styles for investors to choose from. Downtown is where you'll find condos and lofts while the outlying neighborhoods offer single-family homes. Old West End, Westmoreland and Harvard Terrace are a few of the more popular Toledo communities.
Toledo is currently the third-best major housing market for rental real estate investment in the Midwestern U.S. and 27th-best in the country as a whole. In the space of a single quarter, Toledo jumped a whopping 12 spots in the Rental Ranking Report's regional rankings and 34 spots in the national rankings. Not bad for a city commonly thought of as a posterchild of Rust Belt population and property value loss!
Toledo's meteoric rise in the Q2 2015 iteration of the Rental Ranking Report is largely due to its stellar rental capitalization rate, a metric that compares annual rents to property values. Its "cap rate" last quarter, 9.80 percent, was the second best in the country and almost 44 percent higher than the national average. Toledo's vacancy rate was also impressively low last quarter; at just 4.40 percent, it was also one of the lowest in the country and was about 35 percent less than the national average for that metric. Moderately strong job growth, up 2.32 percent year-over-year last quarter (compared to the national average of 2.03 percent), indicates that demand for Toledo housing will likely only continue to increase.
The Q1 2015 Rental Ranking Report found Toledo to be the 15th-best market in the Midwest for rental real estate investment (out of 15 markets in that region) and 61st-best in the U.S. as a whole. These dismal rankings are largely due to Toledo's horrendous 11.50 percent vacancy rate, the fifth-worst in the country, miniscule 0.82 percent increase in median rents and an equally-lousy 0.34 percent annual job growth rate, the third-worst in the country for that metric.
The Toledo housing market has one remarkably good thing going for it - the capitalization rate for Toledo rental properties is a whopping 9.97 percent, the fourth highest in the U.S. last quarter. Toledo property values also increased a respectable 5.79 in the year ending in Q1 2015, slightly above the national average. So, while the Toledo housing market is far from perfect, it's still possible for rental real estate owners to net impressive returns there in both the short and long terms.
To calculate the statistics found in the Q2 2015 Rental Ranking Report, All Property Management gathered data, including the most recent government housing and jobs data, for 75 metros across the United States. Specifically, we looked at home vacancy, capitalization, home value appreciation and job growth rates, changes in rental prices, and the median number of days properties have been on the market to determine which U.S. metros will give investors the highest returns on rental investments. Click here to learn more about the Rental Ranking metrics.
Rental real estate investors looking for a steady, healthy new stream of rental income should consider purchasing Toledo rental property, especially given how relatively low its property values are.
Thinking about renting out a property in Toledo? Save time, avoid hassle and maximize your rental income by having a professional property management company operate your rental property for you. Click here to get a free quote from a local property manager or call 877-780-4510 to have the All Property Management staff get quotes for you.
All Property Management specializes in connecting rental property owners with professional property managers in communities across the United States. These property managers help set rental rates, advertise properties, screen and manage tenants, collect rent, manage vendor relationships and ensure compliance with local, state and federal housing regulations. They take the hassle and worry out of managing rental properties - all while maximizing rental property owners' rental incomes.