|Specialty||# of Agencies|
|Single House or Condo||9|
|Home Owners Association||5|
|Total Local Companies||17|
The average rent for a 3 bedroom house in Milwaukee, WI is $1,100.00. 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.
Milwaukee, WI Rental Market Overview
Increased Home Sales and Additional Inventory Add Up to a Renter's Market
While jobs increase and vacancies decrease in Milwaukee, the 2013 Marcus & Millichap National Apartment Report (NAR) predicts that many financially stable renters in and around the city will move out and buy homes in the coming year, increasing competition among landlords for tenants. The 2013 NAR ranked Milwaukee at 26 out of 44, which is one step up in the index from last year. While Milwaukee falls close to the middle of the pack, Marcus & Millichap's outlook is positive going forward. They cite intense interest from private equity groups and large apartment projects near Milwaukee's downtown core. That's great for big players with deep pockets, but will small investors and independent landlords have opportunities to compete?
Self-Made Success Stories are Usually Fixer-Uppers
The 2013 NAR also predicts that the most intense interest from private equity groups investing in Milwaukee will focus on properties with 70 apartment units or more. That means that most of the institutional attention will directed at the large projects near downtown. Marcus & Millichap sees the improving economy and increased local lending enabling individual investors with smaller projects while interest rates remain low. The trick remains finding the right property and location for your enterprise. That's why many independent property investors consult property managers for input beyond the usual tenant screenings and maintenance referrals. Many of the Milwaukee property management companies employ real estate professionals who already work with a range of property owners in and around the metropolitan core. These property managers often have firsthand access and experience with an assortment of rental properties either changing hands or coming online. They can tell you the sort of local information you won't find in economic reports and indexes, such as common concerns involving renovations and how to market your property when you're ready to expand. Find out what a Milwaukee property manager can do for you today. Review our listings and profiles, and then request your free information.