Every real estate agent knows that rent controls affect the value of rental property. If you do not want to see the value of your property drop, you should stay away from rent control areas. When the value of property is brought down, it will become more difficult for you to increase rents. In fact, you might be forced to lower your rent. Some states that have price control include New York, California and Chicago.

Good Schools

Having good schools is very important in society. The chamber of commerce and the school district usually have information about schools in their respective jurisdictions. Whether you are planning to sell, rent or live in the property, it is important that you acquire property that is close to good schools. Places Rated Almanac, found on Amazon and local bookshops, rates the quality of education for 365 major cities.

Improving Area

It is a good investment decision to buy property in areas that are developing or improving. Do not pay attention to the current state of affairs in the area, but what its future looks like. You will see the value of your investment increase quickly if you invest in areas that are at the bottom of the cycle but will go up soon.

How to Identify Areas That Are Going Downhill:

• Yards are not being taken care of.

• Failing businesses.

• When you see vehicles on blocks in the yards.

• Increasing crime rate.

• Deteriorating fences and roofs.

• Damaged properties that are not being repaired.

• Neighborhood graffiti

How to Identify an Improving Neighborhood:

• Old homes are being renovated.

• New businesses are being set up.

• The city looks rejuvenated.

• More people are buying property in the area.

• Demolition of old homes to pave way for new developments.

• Franchises and banks are moving in (they usually do extensive research before they decide to move in to a new location)

• The neighborhood starts to look more attractive.

• Property prices hold steady or start to increase.

For more information about rental markets that are recommended by Marshall Reddick Real Estate Network, visit the following website www.mrren.com or call (949)-8858180.

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