Specialty |
# of Agencies |
Single House or Condo |
4 |
Apartment Buildings |
5 |
Home Owners Association |
7 |
Total Local Companies |
14 |
Arlington Heights, IL Rental Market Overview
Opportunities Abound in Arlington Heights for Independent Investors
While institutional investors vie for the best locations and spaces in the Chicago core and north side, small landlords and individual investors could find excellent entry points among the numerous single-household properties in Arlington Heights and outlying regions. The Marcus & Millichap 2013 National Apartment Report (NAR) noted that more than 3,500 new apartments close to the Chicago were recently completed, but development in the outlying suburbs remains comparatively low. The report cited slower than average employment growth in Chicago (1%) but noted continued positive performance among rental properties in suburban submarkets, suggesting that vacancy rates should continue downward trends for the near term. The same low vacancy conditions also exist in neighboring Kane, Lake and McHenry counties, but there is potential concern that the increasing prices of Class A luxury rental units may persuade tenants to consider homeownership over rentals.Â
Discover the Best Marketing Channels for Your Rental Properties
The 2013 NAR suggests that rental properties located near retail and public transit should generate interest, although condition and tenancy quality are key considerations. Small landlords and independent investors should also reevaluate their marketing strategies, especially when pitted against larger property developers who frequently retain a full-time property management staff. That's why a number of independent property owners rely on the services of property management companies in the Arlington Heights region. Most property management companies staff real estate professionals who work closely with property owners on a variety of common objectives, especially listing and marketing rental properties. An Arlington Heights property manager can show you the most effective and proven strategies for exposing your property to new marketing channels on both a local and a regional level. Take a moment to review the profiles of the Arlington Heights property management companies listed here and then request your free information today.