Rental Property Investment in Tampa
Tampa is ranked the 10th among the best cities in the U.S for renting conditions and community amenities, according to a new study conducted by Storage Café, a nationwide storage space marketplace powered by Yardi.
They evaluated over 820,000 large-scale apartment buildings throughout the country and ranked the top 100.
“A lot more is expected from a community than in the past, from on-site parking and fitness centers to resort-like swimming pools, business lounges, and clubhouses,” the report shows.
About 47% of Tampa’s apartment properties are equipped with “over-the-top community facilities,” according to the study. The study attributed this success to the city’s rental building boom, resulting in a 19% increase in rental units built in the past decade.
Around 94% of Tampa’s large-scale rental buildings are equipped with a common outdoor space, parking spots, and pools, ranking No. 24 in this category. And 79% boast 24-hour fitness centers.
The city is also highlighted for its family-friendliness, with 42% of rental communities offering playgrounds.
Opportunities in the rental business are limitless in Tampa, especially with the current workforce and economic growth as we discussed in our previous blog post. If you want to know your options in the rental business, you can reach out to us by replying to this newsletter.