Buying A Rental in Sacramento? Some Points to Consider~

By
Property Manager with Investors Choice Property Management CAL BRE LIC# 01124954

If you haven't heard, the 3 bedroom home is the hot rental in Sacramento right now. We have seen increasing numbers of potential renters looking to rent within the $1200-1500 range, with the higher end homes experiencing a "tapering off" of demand as rentals.

 

If you are buying or contemplating a purchase of rental property, consider the following:

 

1. Employ the services of a licensed property manager to tell you what your prospective purchase will rent for.

2. Make certain your property manager checks out. Review their status with the BBB (Better Business Bureau), the DRE (Department of Real Estate), etc.

3. Do not take rental advice from anyone linked to the sale of the property you are purchasing. Find a non-biased third party to provide legitimate comparables.

4. Drive the neighborhood yourself. Often there are several ways to arrive at your destination, and all should be assessed for curb appeal. What potential tenants see on the way to your home is just as important as what they find when they get there.

5. Have a whole-house inspection done, along with roof certification and chimney inspection. You'll be glad you spent the money to discover any hidden deficiencies.

6. Get the whole story on expenses. Trends vary from region to region. In some areas it is customary to charge water, sewer and garbage to the tenants, but most areas do not.

7. Better is NOT always better. When buying a home for rental, location and comparable rents trumps size and amenities. Your potential tenant will do just fine with tile instead of granite and carpet rather than hardwood. If you are buying for later resale, higher-end amenities become  an increasingly important factor.

 

Thomas Martin

Broker, ICPM

916-770-9707 Work

916-722-2121 FAX

tmartin@investorschoicepm.com

www.investorschoicepm.com

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