Anchorage, AK: The City of Lights and Flowers
With an estimated 291,247 residents, Anchorage remains Alaska’s most populous city. In fact, about 40% of the entire state’s population is concentrated in this city. Anchorage encompasses a wide area and ranks fourth among the country’s largest cities by area. It is even bigger than the entire state of Rhode Island.
Apparent from the city’s nickname, “The City of Lights and Flowers,” Anchorage boasts the perfect mix of urban life and nature. It combines cultural attractions such as the Alaska Center for the Performing Arts, the University of Alaska Anchorage, and the Alaska Museum of Natural History with nature-centered destinations such as the Alaska Zoo, the Alaska Botanical Garden, and the Anchorage Coastal Wildlife Refuge.
Additionally, several cultural events take place throughout the year. This includes the Fur Rendezvous Festival, which hosts an international ice-carving contest, and the Anchorage Folk Festival. A number of sporting events also occur at the Sullivan Arena. Apart from that, the city is also abundant in recreational facilities, including the Arctic Valley Ski Area and Kincaid Park.
How Is Anchorage’s Rental Market?
Anchorage’s home values are quite high. The median listing price here is $315,800, which is 38% higher than the national median. Despite this, Anchorage remains attractive to property investors. This is because the city is home to a large renter population. In fact, 38.7% of the residents in Anchorage rent their homes.
Moreover, property owners in Anchorage stand to earn a lot of money from rentals. The median rent in this city is $1,213. Compared to the national median rent, at $1,097, Anchorage certainly commands a higher price.
However, it is important to keep in mind that Anchorage has a slightly higher vacancy rate than other cities. In 2019, the vacancy rate in Alaska’s most populous city sat at 10.27%, which is a reduction from 2018’s 10.42% but a significant rise from 2017’s 7.07%.
Don’t let vacancies scare you, though. Alaska is a landlord-friendly state, with fewer restrictions than a majority of other states. Beyond that, Anchorage is a popular vacation destination, so renters are in no short supply.
How an Anchorage Property Management Company Can Help
Given the state of its rental market, it comes as no surprise that property investors are flocking to Anchorage. Owning a rental property, though, is vastly different from managing one. For most owners, property management in Anchorage is simply too time-consuming or difficult to achieve. After all, there are often too many tasks to keep track of.
This is where an Anchorage rental management company comes in. A professional management company can assist landlords with everything they need. While services can vary from one company to another, most involve the following:
- Rental property advertising
- Tenant screening
- Property showings
- Rent setting and collection
- Lease agreement preparation
- Routine inspections (including move-in and move-out inspections)
- Lease terms enforcement
- Maintenance and repairs management
- Tenant support
- Budget management
- Tax preparation
- Eviction assistance
Looking for Property Management in Anchorage?
It is not easy to find a property management company in Anchorage that matches your individual needs and budget. You also need to perform a thorough vetting process to ensure you choose the best one. With Rental Choice’s online directory, though, you can simply browse through the available companies in your area. Rest assured that our listings consist of only reliable management companies.
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