Covid-19 took the world by storm almost a year ago. Some of you may be wondering how this could continue to affect the market and your rental property investments.
Here is what we know:
- With the new vaccine being released to the public, restrictions are being lifted in Texas. This means that more people are getting back to their everyday lives.
- People are now choosing to relocate to Texas, specifically the DFW area. Many from out of state. The Texas population is expected to grow from 28 million to over 30 million by July 2021.
- Fortunately, The rental/ Real-estate market has stayed pretty steady throughout the pandemic. Some would even say it is even doing better than it has in previous years.
- A large number of people have been relocating to rent homes or downsizing from their current rental in the previous months due to effects from the pandemic.
- One challenge that has been brought to the rental property market is that the many people have lost their jobs. This has caused some renters to be late on their payments.
- Interest rates are still extremely low! This means it could be a great time to invest in a new rental property of your own!