Presidio Real Estate Blog
Camarillo is an attractive and highly sought-after community to live in, I know as I spent most of my formative years living there. It was and still is, a great place to grow up in. On top of that, the real estate market for Camarillo has been a little more stable through recent economic conditions and the rental market is commanding excellent rents. As an owner of investment property, you understand how critical it is to procure and retain a quality tenant at the highest market rate. It takes on average over 30 hours of time to lease a property. Getting the property into show condition, showing, screening, selecting and then maintaining the relationship and the property…it’s a lot of work! Being the landlord isn’t for sissies.
Our name, Presidio Rental Solutions, is indicative of what we provide, a solution. And by solution we mean relieving your work burden and instilling peace of mind. It is our priority to lease your property with the most suitable and stable tenant. We attract that pool of tenant prospects through our marketing efforts which includes listing the property on the multiple listing service(MLS), thus attracting all members to submit qualified applicants and we pay outside agents if they bring the accepted tenant. We also place the listing on our own website and that site, along with the MLS pushes out the listing to approximately 40 other sites. This creates a healthy stream of potential tenants for screening.
To obtain the most qualified and longest term tenant for all of our clients, we do a very thorough vetting of the applicant’s credit history, criminal and background check, eviction history, verification of assets, income, employment and references; all this and judgment of character by personal meeting during showings of the property. This gives a level of confidence to recommend the applicant for owners approval. Our knowledge of the marketplace and current trends in the market allows us to determine the highest market rate rent.
We are confident you will find no other firm with the overall knowledge and expertise in regards to investment property management. Use our resources and expertise to quickly lease your property. You will have peace of mind knowing you have a well-qualified tenant as well as our advice and guidance. Our programs are easy to implement and can be structured to fit any owner’s needs.
Winterizing Maintenance Guide for Ventura County Property
We all know how severe our winter conditions are here in Ventura County! Fortunately, my A-frame at Channel Islands Harbor has that steep pitched roof for the snow and ice to slide right off…wink, wink. But with the season change, it is a good time to address some home maintenance tasks to prevent future costly repairs. Attention to these things will also save energy and keep all your home’s systems running smoothly. So where do you begin? The following should be on your radar for attention.
HVAC – Make sure your furnace is ready for cold weather. Check the filters and replace if dirty. Schedule an annual maintenance appointment; the technician will check all fuel connections, burner combustion and the heat exchanger. You should inspect floor registers and return ducts; clean and vacuum them.
Roof and Gutters – Clear all debris and note any structural issues that might interfere with drainage. Inspect the shingles and flashing. Seal cracks and holes in the flashing with roofing cement. If you have damaged or missing shingles and flashing, call a roofing contractor to obtain estimate for repair.
Drainage Systems – Remove debris and inspect for blockages; test drains with hose and watch for signs of pooling water. If there are issues contact a landscape contractor to restore good drainage.
Landscaping – Trees and shrubs can be destructive to your home, they trap moisture near the house, scrape surfaces when wind blows and drop branches that can severely damage. Prune them so that they are separated from the home’s exterior and overhanging branches are away from the roof structure. You should keep all plantings 3 feet away from stucco sidings that go to ground level as the watering of those plants will wick in to the stucco.
Inside and Out – Do a visual of all doors and windows; check for gaps and caulk them. Open doors and check the condition of the weatherstripping. If old or crumbling, remove and replace the weatherstripping to assure no drafty doors. Drafty electrical outlets can be remedied with thin foam pads from hardware stores placed behind the cover-plate. And remember to change the batteries in your smoke and carbon monoxide alarms!
Routinely performing these tasks will extend the life of your home, prevent water damage, save energy and insure a comfy, cozy winter. Get started on them now and when you’re done, grab a cup of cocoa, get your spot on the couch, turn on the weather channel and watch that Wyoming blizzard in HD. Let it snow, let it snow, let it snow.
Recent market conditions have yielded rents that are skyrocketing and homes that are still at great prices. This is causing some sellers to consider renting their home instead of selling it. After all, a homeowner can get great rental income now and perhaps wait until house values increase even further before selling.
Presido believes strongly that residential real estate is a great investment right now. However, if you have no experience as a landlord or investor in this sector, you may be headed for more trouble than you were looking for. Before renting your home make sure this is the right course of action for you and your family. Here are a few things to consider in making your decision.
- What happens if your tenant says they can’t afford to pay the rent this month because of more pressing obligations?
- How do you select a quality, long term, stable tenant for your property? How will you show the property? How do you write a lease?
- Have you interviewed a few experienced eviction attorneys in case a challenge does arise?
- Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?
- What is your position on tenant having a pet? Dog or many dogs? Cats, salt water fish tank,6 ft boa constrictor?
- How will you actually collect the rent? By mail? In person?
- Who will take tenant calls when necessary repairs arise? Do you have a list of craftspeople readily available to handle these repairs?
- How often will you do a physical inspection of the property?
- Will you alert your current neighbors that you are renting the house?
As you can see, there are many issues(this is only a PARTIAL list) you must be prepared to address once you choose to rent your property. With careful planning and diligent effort, leasing your property can be rewarding. Again, renting out residential real estate historically is a great investment. Make sure you have decided to rent the house because you want to be an investor, not because you are hoping to get a few extra dollars by postponing a sale. And remember, Presidio Real Estate Services is always here to help you with these challenges, whether you’re looking to lease or sell.
Hello everyone; I thought you might find this research from the California Association Of Realtors of interest:
More Investors Purchasing California Real Estate as a Long Term Investment
By: Bipandeep Ahdi, Research Analyst
Investors have played a key role in the California housing market recovery for the past four years. Low mortgage rates, attractive home prices, and low yields on alternative assets have fueled demand for investment properties, particularly in markets where distressed homes have dominated sales. As the California real estate market has become more affordable in recent years, most investors purchased a property as a long-term investment.
Investors are attractive clients for REALTORS® because they are affluent and pay cash when purchasing properties. According to results from the 2013 California Investor Surveys from the California Association of REALTORS®, more than two-thirds of investors (67 percent) paid cash for their properties. Their primary motivation for purchasing real estate is based on the property’s profit potential and they are well-informed on the real estate business. Sixty-six percent of investors indicated they are going to keep the property for more than a year with the intent of renting, while about one-quarter (26 percent) of investors flipped or had the intention of flipping the property. Low interest rates and good rates of return have encouraged investors to hold onto properties and gain cash flows from renting.
New Listing: Commercial Medical/Office Condo For Sale
Fully improved medical office condo situated in a Class A Office Building 64,000 sgft. Excellent owner user opportunity. Unit is 1716 sqft. Four large exam rooms each with its own private restroom and closet/storage area. Each restroom has a toilet and sink. All exam/patient rooms have neutral color laminate flooring and all network infrastructure (Cat5e and Coax) is installed. Large central work station with ample counter and cabinet space for filing and/or storage. Additional lunch/break room with sink. This could be an additional exam room. Central wash/work area with sink and counter space adjacent to employee work station. One additional employee restroom for five restrooms in all. Waiting room/reception area. Small storage/network room for office network infrastructure. Ground floor unit, located adjacent to the building west entry for easy access. 120/240 power with 277/480 transformer. Regency Medical Plaza is comprised of 39 units medical/dental/professional mix. Ample parking. HOA documents available upon request. Excellent owner/user opportunity or great set up for a professional partnership
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