Summer is over when Labor Day comes around – at least to me.  August blew by and now the kids are back to school.  With our current economy take a moment to give thanks if you still have a job and keep open communication with your tenants should their financial situations should change.

Labor Day also is my indicator that I need to start my Autumn annual property inspections and do preventative maintenance so calendar this on your rental properties.  Get ahead of winter.

Enjoy the last hurrah of of Summer.

So what is the rental market look like these days?  Great.  Rents are getting a bit stronger.  There are lots of good, qualified applicants looking.  Keep in mind the foreclosure business is not over and all those people living in homes still need  a place to live.

After what people have been through many will choose to be renters for life.  It is cheaper in the long run.  No property taxes, insurance, maintenance costs etc. 

Home sales aren’t going to take off any time soon so renting is still and has always been a good choice.  If you are an investor and you have cash – strike while the opportunity is here.  Rates are low, and you can pick up lots of good properties at great prices.

For Property Management the market is very good for us.  As the economy suffers tenants are struggling to pay rent and self managed property owners are running into the situation where they are chasing down tenants for rent.  So we are picking up lots of these types of properties.  We either get tenant on tract or move them out and get good paying tenants in place.  Owners are glad to pay our fees to not have the headaches.

When the economy is good owners have the extra money to pay property management.

To summarize – if you are an investor – start shopping.  If you are a tenant there is alot on the market – rent, save money and start paying down debt and rebuild credit score.  Lastly, hire a professional property manager.  We are worth our weight in gold!

If you or someone you know is looking for a property in Santa Cruz or needs help managing a property I am more than happy to help.  Give me a call.  Check out my website:  www.PortolaRentals.com

Kathleen Richards, Broker/Owner