Email Dave Email
Residential Real Estate
Jan 4, 2021

The State of the Rental Market In Southeastern NC

Sponsored Content provided by Dave Sweyer - Owner and Broker, Sweyer Property Management

January 2021 - Despite the many challenges presented by 2020, we’re happy to say that the rental market in the Greater Wilmington Area remained strong. Across the board, occupancy rates continue to be at an all-time high. For us at Sweyer Property Management, they averaged 97% for the year.

Though different in many ways, the sales market and rental market do affect each other and that once again proved to be true in 2020. The hot real estate sales market allowed "reluctant landlords" (those who perhaps inherited properties or who had been unable to sell their homes in the past) to finally sell their properties, which reduced the overall inventory of single-family homes available to rent.

With the decrease in supply of single-family rentals, the demand increased, thereby allowing investors to command higher rental rates. This became evident in the over 5% appreciation rental rates in our area saw this past year.

The Covid-19 pandemic has brought on uncertainties and changes for everyone and that has been true in the property management industry as well. Through the use of technology, we were able to continue safely running our business by conducting virtual and no-contact showings, applications, lease signings, and move-ins.

The utilization of our electronic payment options increased significantly, and maintenance coordination improved due to the use of apps designed to connect tenants, vendors and property managers. We have been fortunate in that locally we did not see much impact in the way of tenants being unable to pay their rent due to Covid-19 impact.

As we usher in a new year, we at Sweyer Property Management expect to see these positive rental market trends continue in southeastern NC.

If you’re interested in finding out what your property might rent for or would like to learn more about our services, please reach out to our team of experts here.

Sweyer Property Management has exhibited continuous growth throughout the Wilmington, Leland and Hampstead areas while maintaining an excellent Google+ rating for customer service. To inquire about the company’s full-service management services or to take a tour of homes for rent in the area, visit them online at WilmingtonForRent.com
 
Please Like and Follow the Sweyer Property Management Facebook, Instagram and LinkedIn Pages for property management tips and to see properties available for rent.

Other Posts from Dave Sweyer

Sweyer animated 300x250 ad
Ico insights

INSIGHTS

SPONSORS' CONTENT
Headshotrosaliecalarco 1182131047

Beware of Bank Imposters

Tommytaylor ceo unitedway

The Unexpected Opportunity: My Journey as an Interim Relationship Development Director

Tommy Taylor - United Way
Jessiepowellheadshot webversion

5 Reasons to Build Custom Franchise Software

Jessie Powell - Wide Open Tech

Trending News

Surgery Practice Buys Cameron Land To Build New Facility

Cece Nunn - Mar 17, 2023

Endowment CEO Outlines Strategic Plan Framework

Jenny Callison - Mar 17, 2023

In The Current Issue

Southport Brisket By Way Of Texas

Open since April 2014, Southport Smoke House has been introducing guests to owner Troy Knight’s home state of Texas brand of barbecue: beef...


Brunswick Rides Wave Of Tourism Boost

This spring, new TV advertisements for Brunswick County’s island beaches will run in markets across the mid-Atlantic region, including citie...


Growing South

Areas throughout southern Brunswick County are seeing an increase in residents and development, leaving municipalities looking at how to pla...

Book On Business

The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments