Rental houses are becoming a safe haven for tourists, retirees and relocated workers in states like Florida. The allure of renting houses instead of buying is strong in many states. The upswing in the housing market in many Florida cities is helping some experienced companies to take advantage of building larger portfolios. The JWB Rental Homes company at http://www.jwbrentalhouses.com/ has expanded its amount of houses for rent in Jacksonville FL this year.
The rise in foreclosures from 2008 to 2012 left many homeowners struggling to find housing. Reports of high unemployment mixed with larger than national average loss rates for mortgage companies helped fuel the foreclosure boom. While some companies sold houses, other companies reportedly purchased properties at below market rates. These are examples of some of the acquisition efforts by companies like JWB that currently owns more than 100 rentable houses in the Jacksonville area.
Costs to Rent Can Be Cheaper Than Buying
The rising home values have increased the sale price of many properties. A person hoping to receive the record low mortgage rates currently in effect could find that purchasing now might be a disadvantage. The average rental price for a home in Jacksonville is $700 to $1100 a month according to industry data. These rates can fluctuate depending on the company managing the property. The houses that are available through companies like JWB Rental Homes are priced affordable for individuals and families with an immediate or long-term plan for renting a home.
Credit ratings are now among the deciding factors for a typical home mortgage. A person who researches the buying process could uncover what many banks do not publish publicly. A credit score of above 700 is now preferred by most lenders before granting approval for a mortgage. This is due to the foreclosure rates above the national average in states like Florida. A person unable to purchase a home due to credit reasons could be creatively financed through a rental agency. Some companies have established ways to work with low credit score renters.
The JWB Rental Homes company is one example of a leading Jacksonville area investment company with a growing portfolio. A person interested in below market rental rates could browse the available houses on the company website. The application process is straight forward and approvals are typically granted in one business day or less.