Real Estate Investing in Sacramento: Property Management Fundamentals
When picking a property to invest in, doing your homework pays off. Following these few basic steps will help you choose a property that will give you the best opportunity for a profitable investment.
Focus First on Location
All Sacramento property management companies will tell you that the location is equally important as the home. Surroundings impact its appeal as a rental property. The quality of local schools, accessibility of shopping, availability of public transportation and the safety of the neighborhoods are all factors that will influence a potential applicant’s decision to rent. It is important to take all of these into account before you purchase your property because they cannot be changed once you have invested in a particular location. Be smart and choose the property wisely before you are committed to the area.
Fulfill Common Expectations
Though every home has its qualities, there are a handful of attributes that are always in demand. A property that is relatively new (ideally less than fifteen years old), one with a traditional layout, with 3 or more bedrooms and at least 2 bathrooms is best. Rent rates of $1100 to $1400/month have also shown to be the best investment for property owners.
Avoid Property Selection Pitfalls
Sometimes it’s helpful to discuss what not to do in Sacramento property management. Companies that have been around as long as Real Property Management Select have seen it all. From experience, we can tell you to avoid homes under 1,000 sq. ft. Homes with a yard without a fence or on a busy street are also more difficult to rent. If no bedroom stands out as the master with more space, look for another property. Avoid quirky layouts or homes that have been overly customized. Lastly, if the home is more than 25 years old, keep shopping.
Thinking about property investment in Sacramento? Property management professionals can make all the difference. Real Property Management Select brings the perspective of thousands of investors over two decades. Put our experience to use in finding the best property for your investment. Call for a free neighborhood analysis today.