Top City Searches in Massachusetts
Massachusetts: The Bay State
With 7,033,469 residents, Massachusetts is the 14th-most populous state in the United States and the most populous state in the New England region. Boston serves as both its capital and largest city. Massachusetts played an important part in bringing America into what it is today, most notably for the passengers of the Mayflower.
Massachusetts is also famous for its higher education institutions. Residents tend to be well-educated, boasting the highest average IQ in the nation. Colleges and universities located here include Harvard University
, the Massachusetts Institute of Technology
, Tufts University
, Boston College
, and Boston University
Arts and culture also thrive in Massachusetts. The state is home to several museums and performing arts companies. These include the Boston Symphony Orchestra
, the Boston Ballet
, the Boston Lyric Opera
, Shakespeare & Company
, the Institute of Contemporary Art, Boston
, the Museum of Fine Arts, Boston
, and the DeCordova Contemporary Art and Sculpture Museum
In addition to this, Massachusetts also hosts a number of events, such as the Boston Film Festival, the Boston International Film Festival, the Tanglewood Jazz Festival, and the Tanglewood Music Festival. Other attractions include the Museum of Science
, the New England Aquarium
, the Isabella Stewart Gardner Museum
, the Freedom Trail
, and the Faneuil Hall Marketplace
The State of Massachusetts's Rental Market
Massachusetts has one of the most expensive housing markets in the nation. The median sale price
for a home in the Bay State is $510,000, indicating a 2% year-over-year change. This is perhaps why many of the state's residents choose to rent their homes. In fact, renters make up 37.6% of the Massachusetts population.
Image via towncharts.com
Landlords can earn a high rental income in Massachusetts, too. The median rent in the state was $1,360 in 2019, and it has only been increasing since 2012. In comparison, the national median rent in 2019 was $1,097.
Image via deptofnumbers.com
It is also not that hard to find tenants in Massachusetts. In addition to a wide pool of tenants, the vacancy rate here is also quite low. In 2019, the state vacancy rate was 3.06%, whereas the national vacancy rate was 5.97%. As you can see, Massachusetts has a significantly lower rate.
Why You Need a Massachusetts Property Management Company
Massachusetts is already brimming with rental properties, and its attractive rental market will undoubtedly bring in more property investors. While this is certainly a good way to earn income on the side, not everyone has the time or expertise required to successfully manage a rental property.
As a landlord, you have to juggle a multitude of tasks, including but not limited to:
- Listing your property for rent
- Finding tenants
- Screening tenants
- Showing your property to prospects
- Writing a lease agreement
- Enforcing your lease terms
- Conducting property inspections
- Ensuring your property is properly maintained
- Making necessary repairs
- Fielding tenant concerns
You also need to pay property taxes, manage your budget, and file evictions when the situation calls for it. All in all, being a landlord is tough work.
This is where a Massachusetts rental management company can help. A professional property management company can assign you a property manager who will take care of your rental unit or home. They will be the one to handle all of your responsibilities as a landlord, thus, easing your worries and stress.
Find Property Management in Massachusetts
Are you a property owner or landlord in Massachusetts and looking for someone to lighten your load? Rental Choice is a great place to start your search. Property owners all over the country use our online directory
to find a property management company that fits their needs. Start using it yourself today!