Great Lakes Resources
Great Lakes Resources (GLR) offers the specialized knowledge and insight that comes with years of experience developing and owner-managing commercial and retail real estate properties in Northeast Ohio.
Home to 905,748 residents, Columbus is the most populous city in Ohio. It also serves as the state capital and as the seat of Franklin County. The city has many distinguished landmarks such as the Ohio Statehouse, LeVeque Tower, the Greater Columbus Convention Center, the Ohio Judicial Center, and the Rhodes State Office Tower.
Columbus also has a thriving arts and culture scene. Museums and galleries located here include the Columbus Museum of Art, the Wexner Center for the Arts, and the Thurber House. The city is also a haven for performing arts, with notable institutions such as the Columbus Symphony Orchestra, the Columbus Jazz Orchestra, BalletMet Columbus, and Opera Columbus.
Columbus also hosts several events throughout the year, including the Ohio State Fair and the Park Street Festival. Aside from that, Columbus is home to two major sports teams: the Columbus Crew (MLS) and the Columbus Blue Jackets (NHL). Other points of interest include Ohio State University, the Franklin Park Conservatory and Botanical Gardens, the Columbus Zoo and Aquarium, Topiary Park, North Market Downtown, and Easton Town Center.
Columbus has an attractive rental market. Property investors will be happy to know that the median listing price for a home in this city is $144,500 — 37% below the national median. Columbus also has a large renter population, with 55.3% of its residents renting their homes.
Image via towncharts.com
However, the median rent in Columbus is slightly lower than the national median. In 2019, the national median rent was $1,097, whereas the median rent in this city was $965. This is up from the previous year, though, and has only been climbing since 2016.
Image via deptofnumbers.com
When it comes to vacancies, landlords can breathe a sigh of relief. In 2019, Columbus had a pretty low vacancy rate of 4.72%. In contrast, the vacancy rate at the national level was 5.97% in the same year. The vacancy rate in Columbus has generally remained the same, with small dips and rebounds occurring every now and again.
Ohio’s laws are also relatively landlord-friendly. In addition to affordable property and decent returns, the state currently only has a few regulations regarding rent control.
Columbus is rife with rental properties owned by landlords who don’t always have a knack for management. Rental property management takes time and experience. The best way landlords can ensure success is to outsource the job to a Columbus rental management company.
What can a property management company do for you?
Rental Choice should be your go-to resource for property management companies in Columbus. We operate an online directory consisting of reliable companies in every city or state. Browse through our database and narrow down your search with ease today!