Omaha, NE: Gateway to the West
With 486,051 residents, Omaha is the largest city by population in Nebraska. It also serves as the county seat of Douglas County. Omaha has a thriving economy, with four Fortune 500 companies calling the city home. These are Berkshire Hathaway, Union Pacific Corporation, Mutual of Omaha, and Kiewit Corporation. Colleges and universities located in Omaha include the University of Nebraska Omaha and Creighton University.
In terms of arts and culture, Omaha does not disappoint. There are a number of performing arts companies that reside in Omaha, such as the Omaha Symphony Orchestra, the Omaha Community Playhouse, Opera Omaha, and the American Midwest Ballet. Performing arts venues in the city include the Holland Performing Arts Center, the Rose Theater, and the Orpheum Theater. The city is also home to several other arts and culture facilities such as the Joslyn Art Museum, the Omaha Children’s Museum, the Durham Museum, and the Bemis Center for Contemporary Arts.
Old Market, located in Downtown Omaha, is a historic district lined with restaurants, shops, and galleries that is popular with both residents and tourists. Other notable points of interest in Omaha include the Henry Doorly Zoo and Aquarium, the Bob Kerrey Pedestrian Bridge, Fontenelle Forest, the Blue Barn Theatre, the Lauritzen Gardens, Lewis & Clark Landing, and the Freedom Park Navy Museum.
How Is Omaha’s Rental Market?
Omaha has a moderate rental market where rental property owners can earn decent returns. The median listing price for a home in this city is $230,000, and there are also many renters living here. In fact, 41.4% of the city’s population rents their homes. With a fairly large pool of renters, landlords will have little to no trouble finding tenants to rent their properties.
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Additionally, Omaha has relatively average rental rates. In 2019, the median rent in the city was $949, which was lower than the national median but higher than the previous year’s figures. Rent in Omaha has been on the rise since 2013. The only downside to the rental market in Omaha, though, is its vacancy rate. In 2019, the vacancy rate in the city was 7.36%, which is almost two points higher than the national vacancy rate at the time.
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Fortunately, Nebraska’s landlord-tenant laws make up for the vacancy rate and lower rent. The state is considered to be a landlord-friendly state, where rent control is low to nonexistent and fees virtually have no restrictions.
Why Go With an Omaha Property Management Company?
When it comes to property management, buying the property is the easy part. After that, you have to balance an immense amount of duties and responsibilities. For this reason, most rental property owners choose to hire a property management company in Omaha.
What can a rental property management company do for you exactly? Simply put, a company can assume your duties as a landlord. Their services can include but are not limited to finding tenants for your property, screening tenants, showing your property, setting rent, collecting rent, preparing the lease agreement, enforcing lease terms, and overseeing property maintenance and repairs.
Property management in Omaha is no joke. If you’re experiencing the following, then you’d be better off with professional help:
- Lack of Time. Managing a rental property is a full-time job — one that demands your time and attention. If you’ve got no time to spare for it, it’s best to hire a property management company.
- Lack of Skill or Experience. Rental property management requires a certain level of skill and know-how, especially when it comes to marketing, research, and even legalities.
- Location. If you live far from your rental property, it won’t be easy driving to and fro all the time.
- Multiple Property Owners. If you own many rental properties, it can be difficult to stay on top of all of them. A property management company has the resources to keep track of all your properties at once.
- No Interest in Being a Landlord. Sometimes, you just don’t like the work. If you just want to do the investing and the profiting, a property management company is the way to go.
Taking the Next Step
The hunt for the best Omaha rental management company can be exhausting. Start your search right with the help of Rental Choice’s online directory. We list down property management companies by area, including ones in and around Omaha.