Talk to a Property Manager Before Buying a Sacramento Rental Property
When you’re searching for the best investment property in the Sacramento area, there are a few specific things to consider. We always recommend that you talk to a property manager before you buy so you know you’re buying a property that people are going to want to rent.
Knowing the rental value of a home is really important. A property manager can give you sound advice about what a particular property will rent for in the existing market. You’ll need to get comparables of actual rentals in the area. This requires a lot more detail than what you’ll find on Craigslist or other sites online. Property managers have firsthand knowledge of actual rents, and that information is far more accurate than what you’ll find online or from a sales agent.
Price is really important to potential renters. They are looking for a fair price, and they’re willing to pay it. They will not even consider looking at your home if it’s priced above the market. Therefore, you really need to consider the rental rate before you buy an investment home. Be willing to take advice from your property manager and negotiate.
Remember that there’s a rental loss associated with your property when it sits on the market. You don’t want to buy it and then leave it vacant for months and months because you’re not going to be able to get the rental price you had hoped for. The market does not care about your mortgage. This can be a hard thing for an owner to accept.
It’s important to understand what is important to a potential renter who is well qualified. You want to buy an investment property that will appeal to a great tenant. They want a property that is safe, clean and well maintained. It should smell good and be inviting. They want to be proud to call that property their home. This is the kind of renter you want.
Finally, you have to consider a home’s features before you buy it. Important features are square footage, number of bedrooms, the size of those bedrooms and whether there is central heat and air. In Sacramento, we have summers that see temperatures over 100 degrees. Location is important as well. Some families will pay a premium if the property is located in a preferred school district.
If you have any questions about how to find an ideal investment property in Sacramento, please contact us at Sacramento Delta Property Management. We have specialists in all areas of the city and we can help you set and reach your property investment goals.
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