Boston, MA: Beantown
With an estimated 675,647 residents, Boston is the most populous city in Massachusetts. It also serves as the state’s capital city and as the seat of Suffolk County. Boston is known for many things including its thriving economy, many higher education institutions, and arts & entertainment scene.
Boston is overflowing with cultural attractions. Historic sites within the city include Old City Hall, the Black Heritage Trail, and Boston National Historical Park. There are also several museums in Boston such as the Boston Tea Party Ships and Museum, the Gibson House Museum, the John F. Kennedy Presidential Library and Museum, and the Museum of Fine Arts. It is also home to performing arts venues like the Boston Opera House and Symphony Hall.
In terms of outdoor recreation, Boston does not disappoint. Notable points of interest include the Boston Public Garden, the Arnold Arboretum, and Copley Square. Boston is also rife with shopping and dining destinations. Finally, it would be impossible to talk about Boston without mentioning sports. The city is home to the Boston Red Sox, the Boston Celtics, and the Boston Bruins as well as the famous Fenway Park.
The State of Boston’s Rental Market
Real estate prices in Boston tend to be on the higher end of the spectrum. The median listing price for a home in Beantown is $854,700 — beating the national median by a whopping 275%. Even though home prices are rather high here, Boston manages to attract a lot of homeowners. In fact, only 37.6% of the population are renters, perhaps due to the city’s above-average median household income.
Image via towncharts.com
Still, 37.6% is nothing to joke about. That is still a relatively large pool of renters, making Boston a popular choice among rental property investors. Additionally, landlords can charge a higher rate of rent in this Massachusetts city. In 2019, the median rent in Boston was $1,579, which is significantly pricier than the national median of $1,097. It is also worth noting that Boston’s median rent has been steadily increasing since 2012.
Image via deptofnumbers.com
Furthermore, Boston has a fairly low vacancy rate — 2.88%. The national vacancy rate, on the other hand, is twice as high. Boston’s vacancy rate also seems to decrease over time based on historical data. Beyond that, Massachusetts is a landlord-friendly state, with laws that generally favor landlords.
Why Go With a Boston Property Management Company?
Rental property investments are an exciting opportunity to earn income on the side. Buying a rental property, though, is the easiest part of the process. The next step is becoming a landlord and fulfilling a number of responsibilities. As a landlord, you need to make sure your property is up to code, find and screen tenants, collect rent, and handle maintenance.
Because of the sheer volume of work involved, many landlords choose to hire a Boston rental management company. With professional management, you no longer need to worry about your duties as a landlord. A manager can take care of everything for you. All you need to do is wait for your rental income to start pouring in.
What can a property management company do for you?
- Advertise your listing
- Screen and process tenants
- Oversee property showings
- Set and collect rent
- Create a lease agreement
- Perform move-in, move-out, and routine inspections
- Enforce your lease terms
- Manage maintenance and repairs
- Respond to tenant complaints
- Manage your budget
- Help with tax calculations
- File evictions
Hire the Best Property Management in Boston
Boston is a large city with many rental properties and management companies. With countless options, it can be confusing to know where to start looking. Make the search process easier using Rental Choice. Our comprehensive online directory lists reliable property management companies depending on your location. Give it a try today!
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