Nowadays, NW Arkansas Homeowners are now looking for some ways to do business even at the comfort of their own home. And what better way to start a passive income than being a landlord in NW Arkansas? With apartments in NW Arkansas still in high demand, NW Arkansas homeowners right timing to become a landlord could be today.
Are you thinking of becoming a landlord in NW Arkansas? If so, now might be the right time for you. With the economy improving in NW Arkansas, owning residential rental property could make a good business sense. With more rental consumers looking for space, NW Arkansas homeowners can now take advantage of apartments and renting homes higher demands.
Being a landlord can be helpful especially if you want passive income, that would mean you earn while not actively working for it. The idea of becoming a landlord is simple: You buy a property, rent it to a reliable tenant and then let them pay down the mortgage for you until the home is paid for. With this, the entire value of your home is still yours, along with any rent you earn after the mortgage is paid off.
Tips for NW Arkansas Homeowners : Be a Landlord
It’s a good time to be a landlord for NW Arkansas homeowners, but that doesn’t mean Lindy Lindsey is any less nervous about filling units.
Lindsey is the president of Lindsey Management, the apartment management subsidiary of The Lindsey Co. of Fayetteville, which oversees approximately 40,000 units in complexes across eight states. Lindsey said 9,000 of those units are in northwest Arkansas, and the company has plans to add to that number in the coming year, which would seem the smart play based on recent occupancy statistics for the region.
A recent apartment market study by Brian Donahue of CBRE, a commercial real estate company with a Fayetteville office, reported that occupancy rates for northwest Arkansas were 98 percent or higher in each of the four major cities: Fayetteville, Springdale, Rogers and Bentonville. That’s part of the impetus that has developers building new apartment complexes in the region.
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