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
2022052 75 142344351

Bridge

Natalie English - Wilmington Chamber of Commerce
Earuth300x300

DEI Luncheon a Resounding Success

Ea Ruth - Cape Fear REALTORS®
Screenshot2022 01 06at338 162234623

Genesis Block Aims to Connect Minority Owned Firms to $2.5 Million in Contracts in 2023

Girard Newkirk - Genesis Block

Trending News

Untappd Taps Out Of Downtown Wilmington Office Building

Cece Nunn - Jan 30, 2023

ILM To Chart Future Path In Forthcoming Report

Miriah Hamrick - Jan 30, 2023

In The Current Issue

Facility Owner Puts His Chips On The Table

With more than 15 years of experience in the wood chip industry, Taner Basaga has maintained key relationships with loggers in the region. “...


Local, State Efforts Target Service Sector

Many industries have started to recover from the roiling effect the pandemic had on the labor market, but nearly three years after the first...


New App Hooks Seafood Connections

Landon Hill is the founder and owner of the mobile app that seeks to promote local fishers and make it easier for buyers to find fresh seafo...

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

2022 Power Breakfast: Wilmington's Most Intriguing People - Spence Broadhurst & Hannah Gage
2022 Power Breakfast: Wilmington's Most Intriguing People - George Taylor
2022 Power Breakfast: Wilmington's Most Intriguing People - Mike Ford
2022 Power Breakfast: Wilmington's Most Intriguing People - Meaghan Dennison
2022 Power Breakfast: Wilmington's Most Intriguing People - Rhonda Bellamy