Aside from its deep history, Pensacola is also famous for its many white beaches, diverse cultures, and plethora of outdoor activities. Residents and tourists alike enjoy an affordable cost of living, a vibrant nightlife, a thriving arts & culture scene, fair weather, and an easy commute.
Pensacola is a great place to earn rental property income. Though most of the residents in this city own their homes, a significant portion of the population still rent their homes. Specifically, 59% are homeowners and 41% are renters. Additionally, given Pensacola’s many tourist attractions and annual festivals, the city unsurprisingly welcomes thousands of visitors per year. As such, both short-term and long-term rental properties are in demand.
The median rent price in Pensacola is $942. Studio apartments have an average price of $803, 1-bedroom apartments have an average price of $885, and 2-bedroom apartments have an average price of $962. On the other hand, 3-bedroom and 4-bedroom apartments have average prices of $1,338 and $1,750, respectively.
As a rental property owner, you naturally want to maximize your profits and make the most out of your investment. That means reducing the vacancy rate of your property and increasing retention rate. If you have little to no experience managing a rental property, this can come as a challenge. Therefore, it is infinitely better to contact a Pensacola property management company for help.
With professional property management services, you can pass on most of the responsibilities to an experienced manager. They will take care of marketing your rental property, finding and screening tenants, collecting rent, and communicating with tenants. Professionals are also more well-versed in rental property laws, which can help guarantee that you stay compliant.
Hide Text