Top City Searches in Delaware
Delaware: The First State
Delaware has an estimated population of 990,837 residents. Dover functions as its capital city, while Wilmington is its largest. It is the sixth least populous state and also the second-smallest by area in the country. Delaware was also the first state to ratify the United States Constitution, thus earning it its nickname.
A thriving economy exists in Delaware. A majority of Fortune 500 companies are incorporated in this state largely due to its business-friendly laws. Delaware also has an impressive education system. Colleges and universities located in this state include Delaware College of Art and Design
, Delaware State University
, Wilmington University
, and the University of Delaware
Delaware also has a flourishing tourism industry. The First State National Historical Park
, the New Castle Court House, Green, and Sheriff's House, Fort Christina
, and the John Dickinson Plantation
are all located here. There are also many museums, parks, and beaches in the state. Additionally, tourists are attracted to the nightlife, arts scene, and tax-free shopping in Delaware, particularly in the town of Rehoboth Beach.
Aside from that, Delaware hosts a number of festivals and events such as the Delaware State Fair, the Firefly Music Festival, the Clifford Brown Jazz Festival, the Delaware Shakespeare Festival, and the Big August Quarterly. Other attractions include the Hagley Museum
, the Delaware Seashore State Park
, the Dover Green
, Old Swedes Church
, the Winterthur Museum, Garden & Library
, the Delaware Art Museum
, and Cape Henlopen State Park
How Is Delaware's Rental Market?
Delaware has a booming housing market. Despite the pandemic, the state has seen a rise in home sales
, with offers going above the asking price. In fact, this year alone, the counties of Sussex, Kent, and New Castle all experienced a leap in home prices by 24.4%, 13.8%, and 3%, respectively. The median home value in the state is currently $320,460.
Even with rising home prices, Delaware remains attractive to rental property investors. This is because of the state's sizable renter pool. Renters make up 28.8% of Delaware's population.
Image via towncharts.com
Additionally, Delaware boasts an above-average median rent. In 2019, the median rent was $1,116, which is higher than the national median of $1,097 at the time. The vacancy rate in Delaware is also decent, at 6.57% in 2019.
Image via deptofnumbers.com
Why Hire a Delaware Property Management Company?
Landlords usually have a challenging time juggling rental management with other facets of their lives. This comes from either insufficient time or experience in the field of rental property management. Luckily, a good way to safeguard your investment and earn a consistent rental income is to hire a Delaware rental management company.
What can a property management company in Delaware do for you?
A property manager can take over all of the responsibilities you would typically perform as a landlord. This includes marketing your listing, screening tenants, performing property inspections, setting and collecting rent, and managing maintenance and repairs. They also normally craft and enforce your lease agreement as well as answer tenant calls. Although services can differ, many companies also offer assistance with financial management, tax preparation, and eviction proceedings.
If you own too many rental properties, lack expertise in rental management, or simply don't like hands-on management, outsourcing to a professional is the best way to go.
Get Help With Property Management in Delaware
Rental Choice aims to make it easy for landlords and property owners to search for rental management companies. Our online directory allows you to browse by city or state and only consists of companies that provide reliable property management in Delaware. Simplify your search process today!