A Look at the Statistics
Take San Diego, for example. According to a report by Claire Trageser with KPBS, “The number of people living downtown almost doubled from 2000 to 2013, according to the San Diego Association of Governments, the region’s planning agency.” When taking this information to heart, it’s no wonder investors are taking the leap toward contacting construction builders to develop multifamily housing as a means of accommodating the renters in their area. These statistics reach far beyond San Diego, stretching into the High Desert.
Built for Rental Income
Just as the name suggests, a multifamily housing project completed by a construction contractor in the Oak Hills area is meant for more than one family. These buildings typically are home to at least two or more families and the owner of the structure uses it for rental income. With this in mind, that income is often reinvested back into the property to pay for the construction expenses, as well as any other monies needed to maintain the property. Anything that is left over is considered the property owner’s profit and that translates into a part of their annual income.
Developing a Relationship With Your Contractor
One of the benefits of hiring an Oak Hills contractor in the High Dessert to build multifamily houses is the relationship doesn’t have to come to an end when the building is complete. In the future, you will need additional services including roof repair, window replacement, exterior work, driveway work, and other renovations or repairs. If you develop a lasting relationship with your construction contractor, then you have a go-to company for every one of these needs for your multifamily houses.