Interesting article published today on Yahoo! Finace: Now Renting: Luxe Condos for the Global Rich. Apparently, renting is officially in vogue. That's great news for landlords who have seen prices dip in the last few years; but it can also be challenging news if you're relocating to the area for business or for events like the America's Cup and searching for a rental!
The fact that rental demand is up makes sense to us at the Foundation Rentals office - our office lines are ringing, our blackberries buzzing, our schedules packed. Looking for reasonable $4k - $6k rental in Marin? We're afraid you're likely to have to get in line. Demand is up and supply is down. So what does that mean for you if you are looking? Check your credit, prepare your applications, and don't delay if you see a home for rent that you like. And if you're looking for a specific rental (like waterfront housing for the race) don't hesitate to give our team a call and see what we might have coming up.
A hot rental market still doesn't mean any property can put any price tag on itself. The homes that rent quickly (like this gorgeous home for rent in Tiburon my wife is signing tomorrow after seeing multiple applications) are the well done homes in above average condition with one or two great ammenities. Like the luxury condos mentioned in the article, ammenities sell. In Marin's case the "ammenities" are usally flat, grassy lawns, great schools, and well done, open kitchens. Landlords, if your home needs paint, patching, cleaning, new windows, new appliances...do it! You'll see more interest and higher return in the long run.
Questions? My team and I are in the office all week: (415) 507-9600.
P.S. It also never hurts to be nice to your local leasing agents who are working as hard as they can to return all these phone calls!
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