Sunny Skies in a Hot Sacramento Real Estate Market
Good news. The real estate market in Sacramento is upward bound, so sunny skies ahead for profits if you are a rental property owner. According to recent statistics, real estate values increased by 15% in the area within the past year. If you then assumed that rental rates would naturally follow, you guessed right. As of April 2017, average apartment rent in Sacramento is $1391, an increase of 6.8% in just the past 6 months. One bedroom units increased by nearly double that. The market is hot.
How to Take Advantage of a Rental Market That is Heating Up
Get your game face on. During this active rental market, you need be able to compete in Sacramento. Property management is what will set you apart. Potential renters seek properties that will satisfy their needs such as safety, reliability, and quality service. Tenants have peace of mind knowing they have a 24/7 maintenance hotline and professionals who will respond.
Don’t Assume You Have a Captive Audience
In an active rental market, property owners are tempted to acquire cheap properties with little or no maintenance. Though the short-term gains may be appealing at first, this is a losing gamble in the long run. Remember that property renters always have a choice and a poor-quality property will repel them sooner or later.
Be Successful, No Matter the Market
Immune yourself from roller-coaster trends by taking care of your rental. Well-maintained properties perform well because tenants are more likely to continue renting them, regardless of the ups and downs of the market.
No one can predict what the market holds, but time-tested principles of good property ownership will consistently return better investments over risky investment schemes and poor property management. Folsom and other burgeoning communities are excellent opportunities for a business in property rentals. Make the choice to seize this potential and reap the rewards through effective Sacramento property management provided by Real Property Management Select.