Provo property management is one of both unique benefits and unique challenges. With a strong presence of young professionals and students with families, rental demand is high and real estate has always shown steady appreciation. Challenges include potentially high tenant turnover due to a high student population that fluctuates according to academic calendars. Fortunately there is still a very diverse rental pool of tenants that are not students and this helps to reduce vacancy times.
Provo is the third largest city in Utah and Utah County’s County Seat. It boasts a large variety of recreation and learning facilities, with the metro area often ranking near the top of national polls regarding desirable places to live. In October 2024, the average rent is $1,192 for a studio apartment, a one-bedroom is $1,178, a two-bedroom is $1,441, and a three-bedroom is $1,927.
What Provo Landlords need to know:
Owners of Provo rental properties are required to register their property with the city as a rental. The city will then supply a Rental Dwelling Disclosure that needs to be given to the property manager to be included with the lease.
Education:
The educational keystone of Provo is Brigham Young University (BYU), which is the largest church school and third largest private university in the United States. It is owned by the Church of Jesus Christ of Latter-day Saints. Other fine institutions of higher learning include Rocky Mountain University of Health Professions and Provo College. Provo also has thirteen elementary schools, two middle schools, and three high schools, one of which is an alternative school for students who need additional support to finish high school.
Recreation:
Provo is at the base of the Wasatch Mountain Range which provides a wide variety of outdoor activities such as hiking, biking, rock climbing, snow skiing, camping, hunting, and fishing. Provo is also situated right next to Utah Lake on the West and Deer Creek Reservoir to the East where you can go boating, water skiing, kayaking, paddleboarding and fishing.
Provo Parks & Recreation has been recognized nationally by organizations such as Forbes Magazine as one of the most livable cities and by Outside Magazine as #2 in the United States as the best for outdoor recreation opportunities. Provo boasts 818 acres of developed parkland, 35 miles of paved trails and paths, and 464 acres of sports field turf.
Provo boasts amazing talent in the area of the performing arts. At the Covey Center For the Arts, you can experience performances by professional artists locally and abroad, intimate black box theater performances, concerts, and dance performances. They also offer a variety of classes and a stunning art gallery.
Events:
Sundance Film Festival: Sundance Resort is a popular skiing destination that also provides activities year-round, including the Sundance Film Festival, which is the largest independent film festival in the United States.
Freedom Festival and Stadium of Fire: The Freedom Festival is a celebration from May to July with over twenty-five annual patriotic events designed to “celebrate, teach, honor and strengthen the traditional American values of family, freedom, God, and country.” The most notable of these events is the Stadium of Fire, a large fireworks display within BYU stadium.
Festival Latinoamericano: Festival Latinoamericano is a celebration of Hispanic culture that takes place over the annual three day Labor-day weekend.
Other Information:
- Population: 114,084
- Number Of Grade Schools: 13 elementary schools, 2 middle schools, and 3 high schools
- Advanced Education: Brigham Young University, Rocky Mountain University of Health Professions, and Provo College.
- Library: Provo City Library at Academy Square
- Seniors: Provo Senior Center
- Performing Arts: Covey Center of the Arts
- Convention Centers: Utah Valley Convention Center, Provo Marriott Hotel & Conference Center, BYU Aspen Grove, Experience Events Center
- Recreation: The Provo Recreation Center, 818 acres of developed parkland, 35 miles of paved trails and paths, 464 acres of sports field turf
- Major Yearly Events: Freedom Festival, Stadium of Fire, Festival Latinoamericano, Sundance Film Festival
- Median Household Income: 53,572
- Other: Provo is Utah County’s county seat
