If someone were to ask me this time last year where to invest in regards to the rental market... I would say hands down the trend was renters want to be as close to center-city as possible. The rental market in the suburbs was flat as renters' focus shifted to urban areas and the opportunities that come with being part of a community. Having minimal commute times was a big factor, along with shared amenities, events, festivals, theatre, and cultural happenings.
Now fast forward to 2020, COVID, and the worldwide quarantine. The rental market for once highly sought-after highrise condos, with amazing amenities & walkability, seems to have dried up. While COVID still looms as a threat, renters no longer feel comfortable living in stacked units or sharing elevator rides with their neighbors. That amazing communal gym doesn't seem so appealing these days, nor does taking a dip in the Olympic-size pool.
It has become more & more difficult to move the rental units in Uptown Charlotte... especially those in multi-story condos. Single-family residences & townhomes are currently the name of the game!