Rents Decreasing in the Sacramento Region - 01/26/09 10:59 AM
The Sacramento area is beginning to experience some rent decreases according to www.AXIOMetrics.com . The survey they do covers apartments and ranks Sacramento in the top 27 for rent decreases in the nation (Sacramento ranked 24). Houses are holding up pretty well but landlords with a vacancy should be aggressive in getting their property rented. Sacramento/Arden-Arcade/Roseville, Calif. Rank: 24 Rent drop: -1.9% Q4 2008 rent change: -3.9% Q4 2007 rent change: -2.0% Effective rent: $1,004.90 State capital Sacramento, known for its flower gardens and wide, tree-lined streets, is facing many of the same economic troubles that are gripping the rest of … (0 comments)

Lack of Inventory of Upper End Single Family Homes - 01/17/09 08:16 PM
I have noted recently that the inventory of upper end rentals in Sacramento, Natomas, Elk Grove, Folsom, Roseville, (the Greater Sacramento Region) is seeing fewer rental homes on the market.
I think what is happening is that owners no longer want to hold those properties for long term appreciation. Appreciation may be on hold for awhile so the decision may be to keep the high end homes for personal use or sell the property.
Investors don't want to buy them as they can now buy houses from the banks and make a decent cash on cash return by sticking to under … (1 comments)

What are you doing to GO GREEN? - 01/10/09 04:46 PM
The new action phrase besides, "Depression" is "Going Green".  Are you doing anything?
At HomePointe Property Management we have been doing the following:
1.  We have a paperless reporting system for our clients.  All managment contracts, leases, and monthly statements including paid invoices are scanned and filled on our servers.  Our clients can access their file and view them, copy the file to their computer, or print if needed.  We save on postage, envelopes, paper, and lost time in transit.  Plus our clients do not have to maintain paper files if they don't want to.  We have been doing this since … (7 comments)

Why I Allowed a Pet in My Last Lease - 01/09/09 12:47 AM
I did the math.  The property rents for $2200.00 per month.  The tenant had good credit and a good job.  If I did not take the pet now,  I would have to wait for another applicant to see the property and get approved.  I figured that might take 2 more weeks at a minimum and maybe up to 30 days or longer.  
The house had been vacant for 30 days, and had no takers.  Now, I know I could have reduced the rent another $100-$200 and would most likely obtain a tenant in the next 30 days without  a pet. … (15 comments)

When Buying a Rental House Give Yourself a Margin For Error - 01/07/09 11:48 PM
A big problem with novices of real estate investments is to not plan for tough times.  
An investor should make sure the price being paid is supported by the current rent.  If all bills cannot be covered including the mortgage you are creating a recipe for disaster.  If rents drop a bit due to a soft market or a vacancy is extended for some reason, can you handle it?
Investors should also make sure they don't borrow so much on the property that there is a chance to go into a negative equity situation.
Make sure the investment can stand … (2 comments)

How Can Facebook Help With Resident Screening? - 01/04/09 10:42 PM
I have heard that some property managers are checking Facebook.com as a part of their tenant screening process.  I am a recent member of Facebook, mostly to  see how it will help with marketing and for fun.  I do not see how it can help much with tenant screening other than to see who the friends are of an applicant.
Any insight you have is appreciated.
… (17 comments)

Rental Inquires Increase Since Christmas - 01/04/09 10:29 PM
2009 looks to be a busy month for rental property owners and property managers.  We have seen increased activity since Christmas and expect to have a banner month in January.
January is typically a busy month which tends to make up for the slack in activity between Thanksgiving and New Years Day.  Since Sacramento does not get snow, we never shut down completely.
If you own vacant rental property in the Sacramento Region it is time to get your property rent ready and price it at or below market rents.  If you need any help with getting the work done or … (2 comments)