Renting properties in Tampa is a great investment opportunity right now. Tampa’s appeal as an urban destination has increased in recent years, with many people relocating to take advantage of the city. This means plenty of people looking for new homes.

Renters make up a large portion of that population. Some are young couples looking to get a place before buying something of their own. Others are young professionals looking for a great new home in a vibrant area.

Then, there are all the students making the most of their time at the local university. You can choose to cater to all these demographics or focus on one. Either way, you need to know which areas are the most profitable. You also need a professional property management team to make it all easier to deal with.

Renting Tampa Properties To Young Professionals

This is always a profitable way to look for new tenants. There are so many young workers looking to start new businesses and make a name for themselves here, and they all want to be in the best locations. Cost will be a factor here.

Those who can afford to do so will look for places closer to the center. They are as keen to commute long distances when they can have an apartment within working distance of the office and their favorite bar. So, if you can market yourself to this crowd, it could pay off.

Many young workers love being in Downtown Tampa because it is so centrally located for everything they need. Those who are still enjoying single life can make the most of the opportunities in this busy area before settling down in the suburbs.

A lot of workers also like Hyde Park, SoHo, and Channelside for this similar vibe. They’re all perfect for that work-life balance with their blend of residential, commercial, and office spaces. Some of the best restaurants and bars are in these areas, too.

Renting Tampa Properties To Families

When you’re focusing on young families instead of young professionals, it’s better to look for that suburban feel a little further out of the city. There are plenty of areas that have gone through redevelopment to provide a quieter take on Tampa life. They have new housing developments, schools, and healthcare for the kids.

They also have the infrastructure so parents can still commute to work with ease. One area that stands out right now is Wesley Chapel. The redevelopment here means plenty of investment opportunities and keen renters. The area has been carefully planned with families in mind and feels fresh and exciting right now. You can capitalize on this.

Also, don’t forget about all those relocating to Tampa for the military base. Many military families are looking for an easy rental process and the chance to ease into Tampa life. Brandon and FishHawk are both close to the base but still fun communities that families will love. The tight-knit feel should help new residents feel at home very quickly.

Renting Tampa Properties To Students

Last but certainly not least, in the rental market, there are all the students looking for rental accommodations. College dorms are great for the first year of student life, but it’s often easier to rent their own place or house share if they can afford to.

They want a property close enough to the college and its facilities to be convenient, but also close to public transport and entertainment options in the local area. While you might be wary of dealing with younger renters like this, there is constant demand, thanks to the University of South Florida, and a high turnover.

There are lots of districts in Tampa that appeal to this demographic. The Ybor City Historic District is especially popular and a great investment option. More than 80% of households are renters, and students play into that figure.

They love the vibe of this cultural area, which has a lot of bars, music venues, and galleries. It’s perfect for nights out and art students looking for inspiration. Other students choose to live close to the USF campus in Tampa Palms instead. Check out the amenities, transport links, and nighttime economy in a district and market those to potential student renters.

How Can A Property Management Company Make Renting Easier?

All of these locations have great potential for property developers. You can set yourself up with properties catered to young professionals, families, or students with the right property and marketing. Still, it helps to have a professional property management company in Tampa on your side to make things easier.

For a start, the best management companies will help you get the right tenants into your properties for you. This all starts by getting the property visible on the rental market with high-end listings that draw people in.

Ideally, your realty company will have the tools to create virtual tours to give a better idea of the livability of a property. From there, they can make sure that anyone who applies is actually a good candidate. You don’t want just anyone coming into your property, especially if they have a bad reputation and poor credit.

A screening process can make a big difference. On top of all this, these companies should be able to help manage tenants and handle rent collection and evictions. The latter is something you hope to never deal with, but it’s reassuring to know there’s professional help for it.

Renting Exciting Tampa Properties To New Residents

The options are broad when renting in Tampa, which is why it’s such a brilliant place for property investment right now. With so many demographics looking for homes here, especially within the rental market, there are so many profit opportunities.

The first step is to choose your target market. Will it be those relocating families, young professionals, or those students? Research the areas carefully, find a property you know will pay off, and let a top Tampa property management company handle the tougher parts of the job.