My primary areas of Managing Investment Properties have been Natomas, Land Park, Greenhaven, Pocket, Sacramento and Elk Grove.
It has become clear things are changing yet again.
The rental market lives off the sale market in many cases. The current rental conditions are moving but at a lower value. Most properties in my experience have a rental turn around of 3-6 weeks start to finish.
But pricing is critical to low vacancy exposure. If you are reaching for the stars and top end of rent, you will most likely be left waiting or end up with a serious high risk tenancy.
The economy is a top concern and affordability is more important than ever. Families and individuals are planning for the rainy day so to speak and want to make sure they are not over extended.
Upgrades and improvements are not really the answer nor in my opinion will they make too much of a difference. Most potential renters are looking for rental properties that are in good - clean condition, not necessarily brand new.
Make sure the rental property is listed immediately and hire a professional Property Manager to assist you through this vol ital and changing market. Screening, sound agreements and detailed documentation of the properties conditions are a necessity.
My primary areas of Managing Investment Properties have been Natomas, Land Park, Greenhaven, Pocket, Sacramento and Elk Grove.
Each quarter we update and distribute rental surveys for real estate professionals as well as investors.
It is strongly suggested to consider all data when encountering transistional periods may it be vacancies or sales. The potential rental value is critical in any financial plan.
Check out our website for additional information and a copy of our current rental survey www.homepointe.com
My primary areas of Managing Investment Properties have been Natomas, Land Park, Greenhaven, Pocket, Sacramento and Elk Grove.
Gone are the days the banks and lenders only buy and sell property. Rentals are the only other option.
We all know that the lack of available credit, loss in value and overall economic conditions have taken the Real Estate world and turned it upside down. I guess it was only a matter of time before banks would enter the property management business! Yes banks/lenders calling on property management services for their extensive inventory. What does this mean?
Even investors whom have recently purchased budles of debt or lenders have found a brighter side in holding the properties for income now with the intention to sell in 1-5yrs for a much improved asking price.
Well I know one thing, the more REOs that turn into rentals, the more saturated the rental market will be. So far in the last month, I have noticed a significant increase of rental home inventory throughout the area. Rental values have not maintained themselves or increased in months. This is all pointing to further value losses at least through spring.
Now it the time to be smart. It takes experience to navigate a rental market such as this and to know what to do and when to act. Seek professional advice from a skilled and knowledgeable Property Manager.
Please feel free to comment or share your experience.
My primary areas of Managing Investment Properties have been Natomas, Land Park, Greenhaven, Pocket, Sacramento and Elk Grove.
Yes, burglary and theft is on the rise amongst vacant rental/investment properties.
In the last couple of weeks I have encountered several break ins of vacant investment properties. The criminals not only stripped the rental home of all metal/copper piping from the air conditioning condenser, but also took the the metal piping from the attic, both bathrooms and kitchen. And did I mention they also took the faucets and pluming from the vacant property as well.
Now I will say each fall and winter we encounter a spike in break ins for shelter or burglary/theft of vacant investment properties. However the increasing stress on our economy will undoubtedly bring about an unusually high amount of activity concerning theft/vandalism in vacant properties.
Here are a couple of suggestions to protect your investment property:
1. Install a burglar alarm, ideally one that is connected to 24 hr surveillance for the ultimate protection to your investment property.
2. Stage the property to appear occupied. Leave lights on, radio on and even partially decorate the exterior with Holiday themed items.
3. Visit the property regularly. Check the property for signs of tampering or break in.
4. If you have access to a secondary vehicle leave it parked in the driveway.
5. Keep the window coverings closed, always confirm the windows are closed and locked. Check the screens for tampering.
Burglary, theft and vandalism of vacant investment properties represent huge losses and will only worsen as times get harder. I have seen homes completely stripped down to sub floor and drywall. The costs are damaging not only to your insurance carrier but to you as well. While your home is in a state of repair, it will be difficult to rent or sell. Prospective tenants/buyers may feel uncomfortable and decide to pass out of fear.
Even worse, some thieves tend to actually come back while the repairs are in process. The thieves wait and watch looking for the next opportunity to take what is not theirs. We repair a portion of the house and either that evening or the next day we find the rreplacement items have already been stolen. The relentless tactics of such individuals make it very difficult to accomplish a final ready for move in status.
Be creative, protect your investment property. I welcome and encourage anyone else to share their ideas or methods of protecting property while vacant.
If you suspect someone is in the home or has broken in, do not enter alone, call the police department immediately and wait at a safe distance for help to arrive.
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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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