I have been very successful in renting out single family homes in the Carmichael area this month--typical vacancy time has been 3-4 weeks which is good in this economy but about average for this time of year. Rents are ranging from $1250 to $1500 for 3 bed homes (the latter is for larger homes with well manicured lots, upgraded, etc). Applicant response is very good in comparison to some other communities.
James Safonov
There can be several competing reasons why some properties rent easier than others. Usually it is the price--but it can also be many other things. Every tenant has preferences--new, antique, big yards or small ones. What each of them agree on is the price--is the property priced at an amount they will accept? There are far too many options for good, qualified tenants to choose from. Make sure the home is clean, functional and priced properly...then watch the prospects come. Magic.
James Safonov
In this crazy market I am spending inordinate amounts of time with new account prospects regarding our company policies and philosophies. Many clients want to know the realities of the market and where their property fits in. They want to know the infinite risks with placing tenants and what options they have if things change or do not go well. I enjoy these exchanges as it allows me as a seasoned manager to speak from experience and truly enlighten the investor how our industry really works. I am convinced the more time a manager and new client can spend together at the very onset of the contract negotiation period--the better off the relationship will be when and if adversity presents itself. The various scenarios will have been discussed and contingency plans agreed to. I know how valuable the investment is to the investor--taking some extra time to alleviate some concerns is a welcomed part of the job.
James Safonov
So far this summer has yet to act--or perform--per usual for owners of investment property. Homepointe Property Management is renting up 70+ properties a month; however, I expected to lease up more. There is no lack of available rentals in my communities of Natomas, Antelope and Roseville...there seems to be a lack of qualified tenants. Many of our qualified prospects are optiong to buy the REO properties instead of renting. The remaining batch of good tenants are able to shop more as the inventories continue to rise. As always--know your market and price the property properly! A good tenant paying slightly less than market rent will always outperform a bad tenant inconsistently paying more.
James Safonov
Legislation has been passed to ensure carbon monoxide detectors are installed in single family homes (and duplexes) when ever a permit is pulled for maintenance. I believe the law goes into effect July 01, 2009. All single family and duplex properties must have these detectors installed by July 2011. Enforcement is the same as it is for smoke detectors. Landlords may enter units to inspect and install these as needed. Landlords are not responsible for maintaining them unless the tenant reports the detector is faulty.
James Safonov
#916-781-7075 x650
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Property Management Rentals and Maintenance in Sacramento, Yolo, Placer, and El Dorado Counties from offices located in Sacramento, Roseville, and Orangevale, CA We manage residential and commercial.
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