Birmingham, AL: The Magic City
If you’re looking for a property management company in Birmingham, RentalChoice is a great option. We can help you find qualified rental property management companies with our free online directory.
With a population of over 209,000, Birmingham is the most populous city in Alabama. It serves as the seat of Jefferson County.
From its founding in 1871 until the 1960s, Birmingham was an industrial city. It received its nicknames, “the Magic City” and “the Pittsburgh of the South,” thanks to its swift growth. Eventually, though, its industrial status started to change. By the 20th century, Birmingham’s economy diversified, bringing in new business in the banking, medical care, insurance, telecommunications, and transportation sectors.
Birmingham is also a hub for higher education. Several colleges and universities call this city home, including the University of Alabama at Birmingham, Samford University, and Miles College.
In terms of arts and culture, Birmingham certainly won’t disappoint. Catch a concert or performance at the historic Alabama Theatre, the historic Lyric Theatre, or the historic Carver Theatre. There are several museums to occupy your time, such as the Birmingham Museum of Art and the Bessemer Hall of History. Spend an afternoon at the Birmingham Zoo or the Birmingham Botanical Gardens. The Birmingham Public Library also has something for people of all ages.
At Birmingham, residents enjoy good weather, a great commute, vibrant nightlife, and an affordable cost of living. All these and more make this Alabama city an excellent place to live in.
How Is Birmingham’s Rental Market?
Rental property investors are always looking for the next hot city, and Birmingham is definitely one of them. In fact, along with Montgomery, Birmingham is one of two cities in Alabama that offers a high rental yield. That’s because the city boasts affordable housing and an attractive rental market.
In Birmingham, the median home listing price sits at $170,000, which is lower than the national median listing price of $226,800. Despite this, the city still consists of more renters than homeowners. More than half of the city’s population — specifically 56.1% — rent their homes.
It’s easy to see why more residents choose to rent instead of buy, though. Purchasing a home requires more thought and money while renting is cheaper and offers more freedom to relocate. The average rent in Birmingham sits at $1,087. This is 5% more than the previous year’s average but still lower than the national average of $1,468.
There are some apartments that cost less than the average or more, though about 40% of the rental properties in the city have a rental rate between $1,001 and $1,500. Alabama is also landlord-friendly, with laws passed in 2014 making it easier to evict a tenant who violated their lease.
Why Go With a Birmingham Property Management Company?
When it comes to rental management, purchasing the property is the easy part. After that, you have to juggle an overwhelming number of duties and responsibilities. This is why most rental property owners choose to hire a property management company in Birmingham, AL.
But, what can a rental property management company do for you? Simply put, they can take over your duties as a landlord. Their services can include but are not limited to finding tenants for your property, screening tenants, showing your property, setting rent, collecting rent, preparing the lease agreement, enforcing lease terms, and overseeing property maintenance and repairs.
Property management in Birmingham is no joke. If you’re experiencing the following, then you’d be better off with professional help:
- Lack of Time. Managing a rental property is a full-time job — one that demands your time and attention. If you’ve got no time to spare for it, it’s best to hire a property management company.
- Lack of Skill or Experience. Rental property management requires a certain level of skill and know-how, especially when it comes to marketing, research, and even legalities.
- Location. If you live far from your rental property, it won’t be easy driving to and fro all the time.
- Multiple Property Owners. If you own many rental properties, it can be difficult to stay on top of all of them. A property management company has the resources to keep track of all your properties at once.
- No Interest in Being a Landlord. Sometimes, you just don’t like the work. If you just want to do the investing and the profiting, a property management company is the way to go.
Taking the Next Step
The hunt for the best Birmingham rental management company can be exhausting. Start your search right with the help of Rental Choice’s online directory. We list down property management companies by area, including ones in and around Birmingham.
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