Looking for Qualified Property Management Companies in Akron, OH?

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Specialty # of Agencies
Single House or Condo 2
Apartment Buildings 1
Home Owners Association 4
Total Local Companies 6

The average rent for a 3 bedroom house in Akron, OH is $1,039.00. 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.

Akron, OH Rental Market Overview

Akron, OH Property Management Companies

Plenty of Purchase Opportunities, Limited Competition in Akron
In September 2013 RealtyTrac listed Akron, Ohio among the top 25 national "hidden gem" markets for single-family rental property investments. RealtyTrac noted that Akron offered a good rate of return on single-family home rentals without much competition among rental property buyers (the limited competition was a key component in the "hidden gem" designation). There were only two Ohio destinations on the list--Akron/Summit County area placed eleventh while the Cleveland-Elyria region placed thirteenth. While reduced market competition from large institutional investors creates a friendlier environment for small and independent landlords, RealtyTrac Vice President Daren Blomquist reminded Akron Beacon Journal Online readers in a follow-up article that the markets listed in the study were not "the best markets for getting returns on rent."

So How Do Akron Property Investors Keep Revenue High and Vacancy Rates Low?
RealtyTrac based their top 25 hidden gem single family rental market list results on gross rental yield, or the anticipated return on investment (ROI) before extra costs, maintenance fees and taxes were figured into the formula. Many small and independent landlords discover that filling vacancies and controlling costs take a lot of the luster off their hidden gems, especially if their rental properties compete with larger multiunit developments. If this conundrum sounds familiar, consider the services and business suggestions offered by a local property management company. Most Akron property management companies employ real estate professionals who understand the rental market and already know what works best for their clients. They can customize their services for you, providing consulting advice for your rental operations or a full range of property management services that include marketing, accounting and income collection and disbursements. Request your free instant quote today.

Top Single Family Managers

Serving All of Ohio
Statewide, OH 43201

Managing: Single-Family :
Simple FLAT RATE pricing, GUARANTEED tenant within 30 days or its FREE!!

Managing: Single-Family :
We offer flat fee pricing resulting in the best value available for a truly "Handcrafted Property Management Experience."

Top Multi-Family Managers

5000 Arlington Center Blvd , Bldg 2 Suite 2165
Upper Arlington, OH 43220

Managing: Multi-Family : Association :
Elevating the standards in 3rd party property management.

Top Association Managers

1375 South Main St., Suite 201
North Canton, OH 44720

Managing: Association :
Grace Property Services... Helping to Guide Community Associations Throughout Ohio

3681 Green Rd. Ste 305
Beachwood, OH 44122

Managing: Association :
We provide comprehensive Property Management Services for Apartment Complexes, Condominium, Townhome, and Homeowners A...

5000 Arlington Center Blvd , Bldg 2 Suite 2165
Upper Arlington, OH 43220

Managing: Multi-Family : Association :
Elevating the standards in 3rd party property management.

Additional Property Management in Akron, OH

800 S. Gay Street , Suite 700
Knoxville, TN 37929

Managing: Association :
We offer REMOTE and VIRTUAL accounting services to Community Associations.


Q2 2015 Rental Ranking Report

The two features of Akron that residents like to boast about the most are the thousands of acres in and around the city that have been set aside as parklands and the city's robust and growing medical, technical and science industries. Because these industries are housed in renovated and reinvented facilities, and are replacing Akron's withering manufacturing center, the "Rubber City" can also truly be called a renaissance city.

Akron is home to two Fortune 500 companies, but it's also an excellent location for the small business person as well. In fact, Nerd Wallet recently named the Akron suburb of Fairlawn as the fifth-best place to start a small business in Ohio.

Rental real estate investors will love the fact that RealtyTrac recently named Akron the second-best college town for buying rental properties. But it's not just Akron college rentals that are lucrative. "What we are seeing right now are rising prices and people in the market are getting very desperate for housing, especially in the rental market," an Akron real estate agent told 19 Action News, a Cleveland television station.

Q2 2015 Akron Rental Market Update

In Q2 2015, Akron was the 11th-best Midwestern housing market to own rental properties in and 48th-best in the country as a whole. Since Q1 2015, Akron fell eight spots in the Rental Ranking Report's regional rankings for the Midwest and 22 spots in the national rankings.

The Akron rental real estate market is far from perfect. Its astronomically high vacancy rate of 14.60 percent, which was almost 120 percent higher than the national average for that metric in Q2 2015, indicates that demand for Akron housing is quite anemic. Akron's abysmal 0.00 percent annual job growth rate (the second-worst out of the 75 Rental Ranking Report metropolitan areas in Q2 2015) and unimpressive median age of housing inventory (66 days, three days longer than the national average) further highlight this weak demand. It is therefore unsurprising that Akron rents increased just 3.86 percent year-over-year in Q2 2015, about 20 percent less than the national average.

Regardless, Akron rental real estate can still be a lucrative investment for those who own it. The local capitalization rate, which compares annual rents to property values, was 7.25 percent in Q2 2015, slightly higher than the national average. Akron homes also increased in value a respectable 5.53 percent year-over-year during that period. Taken together, these statistics indicate that while Akron certainly doesn't have a hot real estate market, rental property investors can still net solid returns there.

Q1 2015 Akron Rental Market Update

The Q1 2015 Rental Ranking Report found Akron to be the third best market for rental real estate in the Midwest and 26th best in the U.S. as a whole. These impressive rankings are largely due to Akron's astounding 11.73 percent rental capitalization rate, more than 60 percent higher than the national average and the best in the U.S. by far last quarter. Akron's vacancy rate of 3.50 percent is the third lowest in the country, and was less than half the national average last quarter. Taken together, these statistics indicate that demand for Akron housing is incredibly strong and it is a magnificent time - and probably the best time in recent memory - to invest in Akron rental real estate.

What data is this Rental Ranking Report based on?

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.

Should I invest in Akron rental property?

Thinking about renting out a property in Akron? 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.