25 Nov San Diego Rental Property
San Diego Rental Property
San Diego Rental property owners have two important factors to deal with, vacancies and how long it takes for their property manager to re-rent their property. Prospective tenants find vacant rental property either through an online search or though an ad that has been placed… marketing your rental property well is one thing but getting your property rented in a timely manner for an amount that makes sense is another. If your rental property is not kept up to a standard that attracts the type of tenant you want you may want to consider investing in renovations. A well-maintained rental property not only ensures your tenants are happy, but also higher rents!
Finding the Right Tenants
Many factors have an effect on the dollar amount you can rent your property for and the time it takes for you to actually rent out your property (to the right kind of tenant). Factors that have an effect on rental amount and time it takes to rent should be obvious… however here is an explanation but first we want you to put yourself in your prospective tenants shoes (the type you actually want to attract) and then consider the following factors that help someone make the decision to rent or not rent:
- Rental Property Curb Appeal: The exterior of your rental property is the first thing people will see. Unmaintained, unappealing or uninviting rental property exteriors will be the first to be eliminated from a prospective renters list!
- Rental Property Interior: Give prospective tenants a vision and help them answer the most important question “Can I see myself living here?”
- Dark or cramped interiors, outdated kitchens, outdated appliances, bad floors, old carpet and so on will only reap you the benefit of not attracting the right tenants while also being unable to receive a competitive price for your rental.
- Rental Property Features: Here is a list of the features that good tenants look for in a rental property:
- Open Floor Plan
- Appliances Updated, Stainless Steel
- Parking Availability
- Outdoor Living Space
- Laundry, In Unit
- Closet Space
- Natural Light
- Large Windows
- Central Air
The world is filled with unreliable tenants looking to move in right away, and when you stumble upon that kind of tenant remember… they are also the type that are not interested in paying their rent on time. Finding the right kind of tenant means you will have to make sure your rental property does not look run down and in need of repairs or improvements… because if it does the only thing you will get out of your investment is a poor ROI and the headache that comes with the wrong kind of tenant.
Rental Property Renovation
There are many variables that impacts rents such as, the age of the rental property, the location of the rental property, surrounding competition and perhaps the most important the appeal of your rental property. Rental properties including homes, condos and apartment buildings naturally deteriorate overtime. If you seek to increase the value of your rental property in order to attract the right tenants and keep them happy while also charging the maximum competitive rental rate… you may want to consider how renovating your rental property can help you get there.
Maximizing Rental Rates & Lowering Vacancy
Rental property renovations have to be cost-effective which is why it is important to understand which renovations will increase the value of your rental property and bring higher rents. Here is a list of improvements every rental property owner should consider:
Renovations + Improvement Tips:
- Flooring: Investing in durable flooring for high traffic areas will help you increase the value of your rental property while also being a cost effective improvement.
- Carpet: use carpeting in areas where traffic is not high.
- Average lifespan is only 5-7 years so think about the following options.
- Tile: Tile is easy to clean and maintain and lasts longer then other types of flooring.
- Laminate: Today there is a wide variety of laminate flooring available. Laminate designed to look like wood offers a way for you to make your rental look expensive but not be expensive to do… most prospective renters cannot tell the difference and most would prefer this over carpeting.
- Carpet: use carpeting in areas where traffic is not high.
- Kitchen: Modern up-to-date kitchens can give your rental property the competitive edge it needs.
- Resurface cabinets, add new fixtures, replace appliances, paint and re-flooring will help you be perceived as a high quality rental property thus allowing you to attract the right kind of tenant and maximize your rental rate.
- Bathroom: Modern up-to-date bathrooms can add even more of a competitive edge to your rental property.
- Re-doing the bathrooms to give it a modern look and feel will help you be perceived as a high quality rental property thus allowing you to attract the right kind of tenant and maximize your rental rate
- Lighting: Track lighting underneath kitchen cabinets make a statement, recessed lighting in the living room adds a new level of ambiance and a modern lighting fixture with a dimmer in the bathroom is quite appealing.
- Painting Interior + Exterior: Sprucing up your interior and exteriors is easily achieved by repainting surfaces of your rental property.
How to Maximize your Rental Income Through Renovation
Rental property owners who are looking to maximize their rental income should consider renovations. Rancho Mesa Properties offers a wide variety of Maintenance, Remodeling, Refurbishment and Landscaping services that will keep your property in optimum condition. If you are looking to maximize your rental income you should consider renovation. Ask yourself:
- Could your rental property produce more income if modernized?
- Does your rental property lack the curb appeal it needs to attract quality tenants?
- Is your rental property in need of minor cosmetic or does it need major repairs?
Case Study, Rental Property Renovation
Rancho Mesa Properties just completed renovations for one of our rental property owners, which included:
- Laminate Wood Flooring
- Recessed Lighting
- New Tile Kitchen + Bathrooms
- Stainless Steel Appliances
- New Carpeting
Increased Rental Income Analysis
Improving your rental property through renovations will help give your prospective tenants a vision, improve your ROI and ensure you attract the right type of tenants… the ones who will treat your house like a home.
Rancho Mesa Properties offers a wide variety of Maintenance, Remodeling, Refurbishment, and Landscaping services that will keep your property in optimum condition. Call us today to get started on your Rental Property Renovations.
San Diego Property Management Company
Welcome to Rancho Mesa Properties, your resource for the best property management services in San Diego… Whether you own one rental property or several selecting the right property management company is IMPORTANT! At Rancho Mesa Properties, we build one-to-one relationships with every client.
Our teams of property managers are trained to use their knowledge and experience to guide every client through the process of managing their rental properties so they feel at ease. Our intent is to help each of our clients make the right choices when it comes to their rental properties.
We want each of you to remember, your property manager works for you… not the other way around! We strive to make each and every person we come in contact with feel like THE most important client we have… because the truth is, YOU ARE.
Contact our San Diego Property Management office today and let us help you fulfill your property management needs by exceeding your expectations. All we need is one chance to show you why making the switch to Rancho Mesa Properties makes sense.
About Rancho Mesa Properties
San Diego Property Management
Rancho Mesa Properties specializes in San Diego Rental Property Management including homes, condos, apartment buildings and more…
Unlike most companies, we are interested in our clients’ needs and specific long-term goals. Our professional relationships are built on a long-term basis. Numerous clients have been with us for many years. Our objective is to accomplish your goals and become a trusted member of your financial team.
Rancho Mesa Properties, providing useful property management information so that you can make educated decisions for the growth of your investments. Discover what it is like to have a team dedicated to YOU!
Are you looking for a San Diego Property Management Company to help you rent and managed your rental properties? Contact us today to see how Rancho Mesa Properties can help.
At Rancho Mesa Properties, our philosophy is to make every client feel like they are the most important client we have!
Our team listens carefully to each client ensuring they feel listened to and heard. Our Mission will always be to grow one-to-one relationships with everyone we meet.
WE always take the time our clients deserve to provide them with the right property management solutions. We realize that each client is unique and strive to serve them in a way that helps to fulfill each and every need they have…
We are real people who do business with both our minds and our hearts.
Our promise to you, to provide you with property management solutions that fit your unique needs and deliver a level of service that makes you feel important because the truth is… you are!
We welcome you to…
Discover, what it is like to have a team of property managers that focuses solely on YOU. Let Rancho Mesa Properties be the solution you look to for all of your property management needs.
Rancho Mesa Properties, we make Property Management easy… Call our San Diego Property Management office TODAY!
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