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.
With 270,871 residents, Toledo is the fourth-most populous city in Ohio. It also serves as the seat of Lucas County. Toledo is home to several colleges and universities, including the University of Toledo, Davis College, and Mercy College of Ohio.
The residents of Toledo enjoy plenty of outdoor activities. Some of the nature-centered attractions in this city include the Toledo Zoo & Aquarium, the R. A. Stranahan Arboretum, and the Toledo Botanical Garden. Arts and culture also thrive in Toledo, with notable points of interest such as the Stranahan Theater, the Valentine Theatre, the Ohio Theatre, and the Collingwood Arts Center.
Performing arts companies based in Toledo include the Toledo Symphony Orchestra, the Toledo Opera, and the Toledo Ballet. Other attractions include the Toledo Museum of Art, the Peristyle, Tony Packo’s Cafe, the National Museum of the Great Lakes, and Imagination Station.
The rental market in Toledo brings in plenty of new property investors each year. This is perhaps due to the city’s relatively affordable real estate. In fact, the median listing price for a home in Toledo is $114,900. Even with affordable homes, though, the city still has many residents who rent their homes. Renters make up 49.6% of the city’s population.
Image via towncharts.com
In terms of rental income, Toledo might not boast the highest rate, but it is still pretty decent considering the cost of homes here. The average rent for an apartment in this city is $798, which represents a 6% year-over-year change. Rent has also been on the rise since 2016.
Image via rentcafe.com
When it comes to vacancies, Toledo does not disappoint. In 2019, the vacancy rate in this city was 4.55%, while the vacancy rate on a national level was 5.97% in the same year. Finally, Ohio is generally known to be a landlord-friendly state.
For landlords and property investors, it is hard to deny the appeal of Toledo. However, although you may have money to buy a rental property in this city, you may not have the time or interest in round-the-clock rental management. Being a landlord is taxing work, which is why many opt to outsource the job to a Toledo rental management company.
With expert help, landlords can rest easy knowing all their responsibilities have been passed down to competent hands. How can a company make property management in Toledo easier? A property management company can accomplish the following and more:
If you are in need of professional rental management in Toledo, Rental Choice is the first place you should check. We have a comprehensive online directory of established and reliable property management companies. Search by location and narrow down your options with our help today.