Burlington, VT: The Queen City
With an estimated 42,545 residents, Burlington is Vermont’s largest city by population. It also functions as the seat of Chittenden County. Burlington is known as a college town, with higher education institutions such as the University of Vermont and Champlain College located in the city. Burlington is also notable as the first city in the United States to run entirely on renewable energy.
In terms of arts and culture, Burlington does not disappoint. The city has a thriving local music scene and an equally vibrant local arts scene. Burlington also hosts a number of events throughout the year, such as an annual First Night celebration, the Winter Is a Drag Ball, and the South End Art Hop. Popular attractions include the Chittenden County Historical Society & Museum, the Robert Hull Fleming Museum, the Ethan Allen Homestead Museum, and the Flynn Center for the Performing Arts.
How Is Burlington’s Rental Market?
Property investors are consistently on the prowl for a city with a booming rental market, and Burlington is undoubtedly one of them. This Vermont city has a large population of renters. In fact, 64.2% of the residents here rent their homes. This is probably because of the expensive housing in the city, which has a median home listing price of $319,500. Homes in Burlington are valued 40% above the national median.
Image via towncharts.com
Another reason property investors should consider Burlington is its high rent. In 2019, the city had a median rent of $1,242, up from the previous year’s $1,180. Rent also tends to be more expensive in Burlington compared to the national median rent. Thus, landlords stand to earn more money in this Vermont city.
Image via deptofnumbers.com
Finally, perhaps due to its large renter population, Burlington also has a low vacancy rate. The vacancy rate in this city was only at 2.18% in 2019, whereas the vacancy rate in Vermont was at 4.48%. On a national level, the vacancy rate was at 5.97% in the same year.
Why Go With a Burlington Property Management Company?
Anyone with a rental property knows that managing one is not as easy as it looks. Landlords have to perform a multitude of tasks and carry a lot of responsibility. For many, rental property management just isn’t the right fit.
This is where a Burlington rental management company comes in. An experienced management company can assume all of the roles of a landlord. This includes advertising your property, screening tenants, collecting rent, enforcing lease terms, and managing maintenance requests.
How do you know it’s time to hire a rental management company?
- You have little to no time to manage your rental home or unit;
- You don’t know how to manage a rental property;
- Your rental property is located far from where you live;
- You own several rental properties that you can’t manage them all at once; and/or,
- You simply dislike the idea of hands-on rental management.
Where to Go From Here
The hunt for the best Burlington rental management company can be tiring. Start your search right with the help of Rental Choice’s detailed online directory. We list down property management companies by area, including ones in and around Burlington.