The US Army is transferring thousands of soliders to Ft. Riley during 2005 to 2008.
"Over the next five years, the number of troops at the fort will double to around 20,000. Because of the higher demand there will be fewer housing choices..." (The Manhattan Mercury May 2007)
Why Are Military Tenants Low Risk?
- Non-payment is not tolerated by the US Army. As a property owner you may report these issues directly to the tenant’s commanding officer. The Military will force payment.
- Military members transfer every 3 to 4 years so they are much more likely to rent than buy.
- As soldiers are deployed, family members normally remain in the area as the “soldier spouse” will return to the same base once the unit comes back from deployment.
Job Growth
"Communities surrounding Fort Riley will experience a significant rate of population growth and economic expansion during the next 6 to 10 years due to a variety of Department of Defense initiatives. A key element in this change involves the relocation of approximately 9,700 troops and the hiring of approximately 2,000 civilian workers at the installation" (Strategic Action Plan and Growth Impact Assessment, October 2006).
The expansion of Fort Riley’s troop count will have a ripple effect on all businesses in the surrounding areas. This expansion will dramatically reduce the risk to the mid and long term investor.
Amenities and Attractions
- 5 minutes to Fort Riley and the Colbert Hills Golf Course and the Manhattan Airport
- 10 minutes to Kansas State University
- 20 minutes to Tuttle Creek and Milford Lake both of which have major boating, camping and fishing areas which host the ESPN and other professional fishing tournaments
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Kelly Schnorenberg is the national director of sales at Select Market Real Estate, the largest wholesale arm of Cay Clubs. Select Market Real Estate has sold more than $100 million worth of real estate in the last 75 days and plans to sell $100 million more by the end of the year.
