Rents Are Up… Big Time… We Lead the Nation with the Fastest Growth Rate

Not So Good if you’re a Renter, Great if you’re an Investor

If you would take a minute and do a quick Google Search for key words, Sacramento Area Residential Rental Rates, you’ll get a nice long list of articles about the increases in Rental Rates in our Region.

What caused me to write this quick post is I’m adding one more article that you should read that makes my point about Supply and Demand.

Our team specializes in the sale and management of Duplexes, Four-Plexes, Small Apartment complexes along with Single Family rentals  all over the Sacramento Region.  Besides Sacramento and unincorporated areas of Sacramento County, such as Carmichael and Fair Oaks, we manage property in Folsom, Cameron Park, El Dorado Hills, Roseville, Lincoln, Rancho Cordova (the best kept secreat area in my opinion) and West Sacramento.   Go to HavenRents.com and you’ll see what we currently have available for rent.

It doesn’t really matter where you go in this area, rents are up…”big time”.   We’ve had as many as 5 or 6 applications to rent on some of our inventory.

CLICK HERE and check out this article which will reinforce my argument, which is….   “They haven’t built enough housing, especially the kinds of Duplexes, Four-Plexes and Small Apartment Complexes like they did in the past.

If you’re an Investor looking for a rental property, please call me.   I will say you can still find a decent deal out there, but, you will probably pay Top Dollar.   However, guess what…?  You will have the confidence you can raise the rent if you need to.

In the mean time…?

Make it a Great Day…

Ed Favinger Broker, CRS, GRI, SFR, CDPE    916-203-1260  favinger@rwnetwork.com

 

When Weather is Hot Here in Folsom – Don’t Make a Tenant Wait for a Month To Fix the A/C..!

You’ll create an Angry Tenant if you do.

We have experienced a heat wave lately.  As of this date and for the last several days we’ve had temps over 100 degrees.   Here in the Sacramento Valley, air conditioning really is essential in the summer months.

As I sit here writing this blog post, the temperature at 12:41Pm is 110 degrees according to the back yard thermometer that is part of my pool system.

angry tenant

I got an email addressed to our property manager with me in the “cc” line from a really angry tenant to our property management unit because they have been without air conditioning for about 2 – 3 weeks…

Why…?  Because the owner of this property changed their Home Protection Plan or had let it lapse and would not let us order the repair service for 30 days because the plan would consider this a “pre-existing” condition if ordered before the end of that 30 day period.  In that case the claim would be denied and she’d have to pay for the repair herself.

Meanwhile, the poor tenants who are supposed to have air conditioning as part of the deal, are sweltering.

When an Owner/Landlord does this kind of thing, it angers tenants.   The Rental Housing industry has no shortage of stories that hit the news about “greedy” Landlords that don’t maintain their property.   With the increase in renters vs home ownership, I suspect this is going to get worse.

If you are a landlord take care of your property and your tenants… because if you don’t and enough of these tenants start calling their local city, county and state politicians.. you’ll get more of their “regulations” and their hands into your pocket book to protect the tenants you ignored.

Maybe the “golden rule” applies here.  If this Landlord would reverse the roles for a minute, she’d have that fixed don’t you think…?

Comments…?

 

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE   favinger@rwnetwork.com  916-203-1260