When you’re investing in real estate, you’re looking at a number of factors in any market that will tell you whether buying a rental home there will help you reach your investment goals. Some people like to invest in large cities and others prefer smaller suburbs. One of the considerations that often escapes the attention of investors is what a military presence can do for a community. San Antonio has a large military presence, with several different bases. This has an effect on an investment portfolio, and today we’re discussing the benefits of owning a San Antonio rental property in a military town.
Military Bases Create Stable Rental Markets
In San Antonio, there are four military bases that cover both the army and the air force. This helps our rental market and our economy stay stable. As an investor, you’ll find that many of your prospective residents are working at one of the military bases. This is a huge positive for your leasing strategy; it delivers a good pool of residents who pay rent on time and take care of your property. They have excellent rental histories. This population of people are also quick to understand rules, procedures, and regulations – so following the terms of the lease agreement is rarely an issue.Military families are stable residents, and unless they receive orders elsewhere, they can be counted on to continue renewing their lease agreements and staying in place for the long term.
Military Towns Have Strong Economies
A military town usually contributes to a strong economy, but even military bases shut down, and when they do, it can be devastating to the local economy and the real estate market in that city. Luckily, San Antonio has four military bases, so that means if one base should shut down, there are still several others keeping the industry and economy afloat. Investors should be careful of investing in markets where there’s only one industry fueling the entire economic system. It’s hard to ride out the storm of that industry failing. San Antonio and its military presence can protect investors against that risk.When we talk about military operations in a community, we also have to think about the benefit of attracting additional residents. In San Antonio, many family members move into the area in order to be close to the people they know working at the bases.Investors in San Antonio should know that people who were once stationed at one of the military bases here often stay here even after they’re out of the military. Their children grew up in San Antonio and their families created a home here. It’s not the type of city that people spend a little time in and then they leave and never come back. It’s a stable city and when people live here, they tend to fall in love with it. Not a lot of people relocate out of San Antonio if they don’t have to.
Tourism Aligns with Military Benefits
There’s also a thriving tourism industry in San Antonio, and combining that with the strong military economy makes this a great market for investors. There’s a lot of money moving in here, contributing to higher property values and better rents.New investors can benefit from what San Antonio has to offer. There’s a beautiful River Walk area and a Six Flags. People enjoy exploring the Natural Caverns. A lot of companies move their workers here, and military members who rent here attract friends and family members who visit. Once they visit, they tend to think about staying. This contributes to constant growth within and around San Antonio. Investors have a stable and logical long-term rental market.To learn more about investing in San Antonio and the benefits of the city’s many military residents, please contact us at Mynd Property Management. We would be happy to talk to you more about the opportunities here, and share some of our professional management strategies with you.We also have other opportunities to connect with us and learn more about investing in San Antonio. You can also visit our Facebook group of investors, which is called Master Mynd. It’s a real estate investors’ club, where you can exchange ideas with other owners. Check out our weekly podcast as well, called The Myndful Investor. We invite leaders in real estate and property management to talk about their success and, more importantly, their failures. There’s a lot to learn from this relatable content.