More and more people are moving out of the big cities like NYC and into historically less well-regarded areas, such as Rochester NY. Property Management in cities like this has tremendous benefits, because people have started to see the appeal of living in a place that has plenty going for it, but coupled with a slower pace and a higher quality of living. Whether you’re a tenant looking to relocate, or you’re a current or prospective owner of a second home in Rochester, it might be of interest to know how the cost of living in this wonderful city compares with other parts of the country. This is where we can help.
More so than ever before, our clients are looking to invest in areas like Rochester NY. Property management is what we do, but doing it in a city like this is very satisfying. It is truly one of the rare places where both the landlord and tenant are really taking advantage of a great housing market. Tenants consciously want to live here and landlords are doing very well in the job of providing those homes.
From NYC To Rochester
NY property management is not all the same. It can be extremely different as an owner if you’re renting out a building in the heart of New York City compared with a place like Rochester. One of the main reasons for this is the tenants you’ll get outside of the big city are after a different pace of life and, while this means your rental income won’t be as high, your costs are going to be significantly lower. This is, after all, why so many people leave the metropolis for smaller urban areas.
The cost of living in Rochester is almost 60% lower than in NYC, and housing is 80% cheaper. This means that tenants will have more time to spend on things they enjoy, and this in turn translates into a city evolving into a place renowned for the high quality of life.
A quick run down of basic utilities that your tenants can expect to pay here tells us why it’s such an appealing location:
- Energy bills $156
- Carton of eggs $1.54
- Rent $1,173
- Gallon of milk $2.18
Although some of these prices are only a few percentage points below the national average, this is very impressive to somebody used to living in New York state. If you choose to invest here you’ll have no shortage of prospective tenants.
The Great Outdoors
With its great location nestled on the banks of Lake Ontario, Rochester NY property management companies will tell you that the outdoors is a real pull to tenants who come here looking to enjoy the city in all its splendor.
How does this fit into a discussion on the cost of living in the city though? Well, not only is there wonderful nature on the doorstep for those living here, they’ll also be able to enjoy fantastic parks that are open to all residents. It’s very appealing to be able to take advantage of an affordable way to get outside for hiking, skiing, kayaking and plenty more.
City Center Living
If you’re thinking about investing, you will want to speak to our expert staff about the best place to buy a property, but you can rest assured that a city center income is very achievable, as the costs are cheaper here than on much of the East Coast. For tenants, as well, there’s no shortage of options in the city center, which means that the rents are only slightly more expensive than on the outskirts. This benefits both landlord and tenant, as there’s nothing stopping the tenant living close to the action and the landlord can afford a piece of prime real estate at very little additional cost.
Why Turn to Us?
At Torres Turn Key we have a great deal of experience in the local rental market, as well as being well versed in all things Rochester. NY property management can be a difficult market to enter if it’s your first rental property, so we will ensure that your property is handled with care and respect, and your tenants get the most out of living there. If you’re interested in rental investment then get in touch with us today and we can ensure that your experience is seamless and profitable!