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Alaska: The Last Frontier
Alaska has an estimated population of 736,081 residents, making it the least densely populated state. Located in the northwest area of North America, Alaska is known for its large size and expansive natural scenery. The capital city of Alaska is Juneau, though Anchorage functions as the state's cultural hub. While the climate in Alaska is notoriously cold, many residents and visitors adore its arctic environment.
Alaska is also known for its thriving economy. Although it has a comparatively smaller state economy, residents have high earnings here. In fact, the per capita income in Alaska is one of the highest in the United States. Of course, the cost of living in Alaska is equally high. Colleges and universities located here include the
University of Alaska Anchorage,
Alaska Pacific University, and the
University of Alaska Southeast.
In terms of arts and culture, Alaska does not disappoint. The state hosts many recognized events, such as the Iditarod Trail Sled Dog Race, the Blueberry Festival, the Sitka Whalefest, and the Alaska Hummingbird Festival. Alaska also boasts the
Anchorage Museum, the
Alaska Wildlife Conservation Center, the
Museum of the North, the
Alaska SeaLife Center, the
Alaska Zoo, and the
Alaska Native Heritage Center.
Additionally, Alaska is home to a number of natural attractions such as
Denali National Park and Preserve, the Hubbard Glacier,
Kenai Fjords National Park,
Glacier Bay National Park and Preserve,
Katmai National Park and Preserve, and the
Gates of the Arctic National Park and Preserve. Other points of interest include the
Klondike Gold Rush National Historical Park,
Pioneer Park, the
Alaska State Museum, and the
Alaska Botanical Garden.
The State of Alaska's Rental Market
Given its booming economy and high cost of living, it comes as no surprise that real estate in Alaska is on the expensive side. Home sales prices have been steadily increasing since 1992, with the average sales price for a single-family home in 2020 being $356,806. Despite the pandemic, the real estate market in Alaska
keeps getting hotter.
Image via live.laborstats.alaska.com
Due to the state of the housing market in Alaska right now, many believe it makes more sense to rent. And Alaska does have a steady renter population. In fact, 35.7% of the state's residents rent their homes. Property investors can take advantage of this and earn rental income.
Image via towncharts.com
Speaking of rental income, rent prices in Alaska have been increasing for a while. In 2019, the median rent in the Last Frontier was $1,201. This is significantly higher than the national median of $1,097 at the time. To top it all off, Alaska is considered to be a landlord-friendly state. There are not a lot of restrictions on evictions here, and no statewide rent control policies exist.
How an Alaska Property Management Company Can Help
Alaska's rental market is definitely one to watch out for. And, this is exactly why many property investors are lining up to take a slice of the pie. However, managing rental property in Alaska is no easy feat, particularly if you have no background in rental management. Landlords also typically lack enough time to focus on managing their rentals when they have personal responsibilities to juggle.
This is where an Alaska rental management company comes in.
With a professional service, landlords can rest easy knowing their investments are in capable hands. A property management company can shoulder all of the duties and responsibilities that landlords normally perform. These duties include but are not necessarily limited to:
- Property listings and marketing
- Tenant screening
- Property showings
- Rental rate setting
- Lease agreement preparation
- Property inspections (during the moving process and routine)
- Rent collection
- Lease terms enforcement
- Maintenance and repairs management
Furthermore, a property management company can assist you with budgeting and financial management as well as tax preparation. Should you ever need it, a company can also help you process evictions. Property management in Alaska does not need to be hard. With experienced professionals by your side, you can just sit back and wait for the checks to come in.
Search for the Best Property Management in Alaska
Look for an Alaska property management company that fits your needs and budget. With Rental Choice's
online directory, you can search for property management companies by city or state. Our online database only lists reputable and trusted management companies, so start browsing today!
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