Recently, TrueTurnkey completed a new renovation on a nice single-family home located in our Akron, OH market.
We put the home on the market to be leased on March 14th.
Within 48 hours, we received 33 applications.
By March 18th, we had a qualified tenant with a move-in date.
So, during the coronavirus crisis, we approved a tenant and had a move-in date after only four days of marketing this property.
Pretty encouraging, eh?
That’s why we want to share this story during these uncertain times.
Soon after the COVID-19 virus disrupted the economy, our team here at TrueTurnkey started noticing a sudden spike of the same questions coming from repeat investors and new investors—questions that are understandable considering our country’s situation.
People are asking if they should be worried about finding a tenant for their property. They want to know how the leasing is going, and if their property will find a tenant quickly or not? Questions like that.
We want you to know that rental property real estate is alive and well.
Now keep in mind, this is just one data point, which may not be representative of the overall environment, but it certainly is encouraging.
Has the market slowed down a bit? Yes, in general. That’s stating the obvious…each market is different.
We see the Northeast Ohio market continuing to be a great area for investors to consider. And like I keep saying, people still need a place to live. This will always be the case.
We will keep you posted as this coronavirus situation plays out.
In the meantime, you can book a call with us to set up a time to talk with someone on our team. We would be happy to answer your questions and let you know what other cashflow properties are currently available.