Fargo, ND: Gateway to the West
With an estimated 125,990 residents, Fargo is the most populous city in North Dakota. It also serves as the seat of Cass County. Fargo has a thriving economy that was historically centered around agriculture. Today, the city’s economy boasts a diverse mix of retail, healthcare, manufacturing, healthcare, and food processing.
In terms of arts and culture, Fargo does not disappoint. Most of the city’s theatrical productions and cultural events are hosted by the universities in the area, of which there are three: North Dakota State University, Minnesota State University Moorhead, and Concordia College. Notable attractions include the Fargo Theatre, Fargodome, the Plains Art Museum, the Fargo Air Museum, and the Red River Zoo.
What Is Fargo’s Rental Market Like?
Fargo has a relatively affordable housing market. The median listing price for a home in this city is $211,200, which is 7% below the national median. While houses are fairly cheap in Fargo, renters are still prominent. In fact, renters make up 56.4% of the city’s residents. With affordable homes and a large pool of renters, Fargo is definitely an attractive place for property investors.
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In terms of rental rates, Fargo sits on the lower end of the spectrum. The median rent in this city was $815 in 2019, down from the year prior. It should also be noted that this is below the national median rent of $1,097 in the same year. Additionally, Fargo has a comparatively higher vacancy rate, at 8.08%.
Image via deptofnumbers.com
Still, when you factor in the price of homes, Fargo can offer decent returns. On top of that, North Dakota is also considered a landlord-friendly state. The state does not have rent control laws, and there is more wiggle room when it comes to repairs and entry policies.
How a Fargo Property Management Company Can Help
Fargo is clearly an attractive space for rental property investors. Buying a rental property, though, is completely different from managing one. It takes a lot of time and expertise to successfully become a landlord. Most people are simply not cut out for that kind of work or have no interest in hands-on management. But, that should not hold you back from such a lucrative investment.
The answer to your woes is a Fargo rental management company. With professional management, you can wash away all your worries and look forward to more free time while simultaneously earning rental income. 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
Find the Best Property Management in Fargo
The search for the right property management company begins with a single step. Take that step today using Rental Choice’s comprehensive online directory. Browse our database according to your location to find the best management company that suits your needs and budget!
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