Do you know what crime data says about a potential Parrish Florida rental property? Crime rates can directly impact whether or not potential renters will take the risk of living in your rental, so it's essential to consider this before making a decision.
We've talked about several critical factors that help real estate investors find the best investments! Today our Parrish property management experts talk about why crime statistics should be part of your search for rental properties with the best ROIs.
Why Crime Statistics Matter
They're more than just numbers on a report! Depending on the neighborhood, crime rates and statistics can directly impact your rental income. Parrish rental property management companies know it's important to understand current information about the area's criminal activity when looking for new investments with the potential for excellent returns.
If the crime rate is high, you'll likely have fewer renters interested in putting their safety at risk in your property. If any of these potential tenants decide not to move forward with renting from you because they're afraid for their safety, then that means less income for yourself!
On the other hand, if there aren't many crimes taking place around your Parrish rentals, you'll experience more quality tenants interested in moving into your investment home or apartment community. A property owner could even start seeing an increase in demand in rentals in low-crime areas, which can allow them to raise rent prices when answering the question, "how much can I rent my house for!"
Prospective Renters Have Concerns About Criminal Activity
Most Parrish, Florida property managers agree: criminals don't discriminate! Rental communities and homes can become targets for criminals at any time. When reviewing crime statistics and reports, pay attention to the most common types of activity in the area.
Most significant crimes like burglary, robbery, or arson frequently begin with property crimes such as theft or vandalism. By understanding what types of criminal activity are most common around your Parrish Fl properties, you can assess if a potential rental home is worth your investment or if the neighborhood seems to be a target of crimes that can lead to potential safety threats for residents and their property.
For an existing rental or a property in an area with primarily petty criminal activities and sporadic occurrences, investment property owners can still plan accordingly and improve the attractiveness of a home for tenants.
If there have been a high number of car thefts near your Parrish rentals, it might be wise to invest in smart home features, security cameras, or gate access control systems so renters feel safer about parking their vehicles on-site—without fear that they'll be next by local thieves looking for an easy target.
Where to Find Crime Data for a Rental Property
Where should owners look for accurate data? Whether you're local to Parrish, Fl, or the Gulf Coast area—or you're investing here from out of state—there are plenty of resources to deliver a well-rounded picture of a neighborhood's criminal activity.
A property management company can help you understand criminal activity (or the lack of it) in the areas surrounding the property you have your eye on as your next investment. Reliable sources include:
- Google searches for local crime statistics
- Public reports or crime-mapping through the local police department website
- Incidents listed on websites like SpotCrime or CityProtect
- The National Sex Offender Public website
These resources can deliver excellent insight into types of crimes and the frequency of these events. While this information is helpful, rental owners should go a few steps further than what the internet can tell you about the activity near a potential property.
Talk with residents and business owners about activity in the neighborhood, including the frequency of police activity. If you have the time, drive the streets and look for bars on windows or run-down properties that indicate vandalism. Ask a Parrish property management company about the area and get their insights on the risks vs. rewards of investing in a community that struggles with different types of crime.
Sometimes first-hand knowledge of the area helps fill in the gaps with information you can't find on the internet. A property manager will also be able to give insight into vacancy rates and rental rates for a property and how the potential returns could either work for or against your success with a specific property.
Let a Parrish Property Management Company Help!
Crime rates in the area surrounding a potential investment property can make or break an investor’s decision to buy. These statistics can also impact your potential return on investment.
Before you jump into buying your next rental, do plenty of research and talk with professionals like our Gulf Coast Property Management team about crime statistics near properties that interest you. With our local insights for the Parrish community and surrounding areas, we help property owners avoid investments in areas with high vacancy rates. Reach out to see our expert property management services and experience can help you maximize your investment!