2016 proved to be a very busy year for the rental business. The local sales market also saw growth as both new home and existing home sales increased over the previous year. Home values continued to increase due to the demand and low inventories. Rents were on the upswing for the same reasons and the outlook for 2017 should be more of the same for the Emerald Coast. The trend for young people entering the work force to rent rather than buy will continue for the next several years.
Our local economy is so closely linked to the strong Military influence and the resurgence of the tourist industry which continue to bring new business and families to our beautiful area. The top rated school system, great law enforcement and wonderful weather all contribute to families desire to settle here. The white sand beaches, emerald water and green golf courses don’t hurt to attract settlers and visitors alike.
The transition to a new President should benefit our area over the next several years if the new administration is able to rebuild the Military. The talk of controlling government spending and waste will only contribute to greater and more efficient Armed Forces. We have been fortunate to have low unemployment locally however, as more jobs are created nationally our overall economy will prosper everywhere.
I have been writing this monthly column about property management and rentals for almost 15 years now and hope you won’t mind me reflecting back over 2016 on a slightly more personal basis. After almost 40 years as professional Property Managers, my wife Pam and I are slowing down and letting our children take Sundance Rental Management, Inc. into the future. We will always be an active part of the business as advisors and directors, but the operations and management is in their capable hands. Our daughter Susan, and her husband, Blake along with our son Rick have worked with us for the past 10 years and Rick’s wife Amber came on board last year. Blake is a Broker and they all are licensed Real Estate Professionals. Rick and Amber are currently studying for their Broker Licenses.
The Influence of young minds has kept our business up-to-date with new trends and technology and has contributed greatly to our growth over the past several years. We have grown from Pam working as the property manager in her father Fred C. Cooke’s real estate office to now over 25 employees. Our inventory grew by 250 new properties in 2016 and we are in the process of building new offices next door to our current location on Beal Parkway which will more than double our existing office space.
It is such a blessing to have a family and employees that love what they do. We appreciate our owners, tenants and vendors and all those who are a part of our business that have contributed to our success over the years. We understand that Sundance Rental Management, Inc. is a service company and will always strive to provide our best.
I am confident that 2017 will be a great year for all those involved in the management and leasing of rental property in our wonderful community. We wish everyone health, happiness and prosperity in the new year and God’s Blessings on all of you.
J. Matthew Scheel
Broker/Owner - Sundance Rental Management