Good time to become a landlord?
OK, we all know renting is becoming an increasingly attractive alternative.
But what about taking the plunge and becoming a landlord yourself?
The numbers right now appear to be lining up for a long-term surge in renting.
The national vacancy rate is down to 9.4 percent - the lowest since 2003.
And the pool of renters is growing by the day. Foreclosures have turned millions of one-time homeowners into renters, many of them permanently.
There's not just demand, but a lack of decent supply as well. New rental construction has long been a laggard - there's growing demand not just for more apartments, but for a wider variety.
In fact, the pros are already onto this trend - some of the biggest developers in the country are busy building and rolling out new rental complexes, including here in Greater Boston.
Avalon Bay is preparing to start construction on a new rental tower at the Prudential later this year, while the suburbs are seeing a number of rental developments move forward.
Yet for all the opportunities out there, becoming a small-time landlord has its risks. The big players can mitigate the risks through volume - if you have 200 apartments for rental you can deal with a little vacancy.
But if you have just one or two units, sitting on just one empty apartment for a long stretch could prove hazardous to your financial health.
What's your take? Let's hear it from all the small landlords out there who know the pitfalls especially well.
