Are you planning on buying a rental property in 2019? If so, regardless if you decide to buy one in the Central Valley or not here are our best tips for buying a rental property this year.
Tip #1 – Consider Choosing A Single-Family Home Versus A Condo
Although condos may seem like they would be an easy Central Valley Rental Property to own the reality is that owning a single family home is often a better than a condo because, single family homes are traditionally occupied by tenants with children and once they become settled are less likely to move compared to tenants that are unmarried or without children.
As a landlord, it’s ideal to have tenants with children living in a single family home because studies show that these renters have been proven to live in a single family home for up to 5 years or longer especially if children in the home are going to school in the local area.
Tip #2 – Think Carefully About Location
Another important thing to do when choosing a Central Valley Rental Property is to think carefully about the location of your rental because location can make a real difference to some tenants especially if your rental is close to good schools, shopping, restaurants, jobs, and things to do in the area.
Tip #3 – Find Out How The House Was Built
Before saying yes to buying a new rental property in the Central Valley, you should also investigate how the home was built because a house that’s been “sturdily built” is going to save you thousands of dollars per year in repair costs while a home that’s been cheaper built will cost you more to maintain in the long run.
Get Property Management For Your Central Valley Rental Property
Once you purchase a Central Valley Rental Property start out right by hiring an experienced property manager with RPM Central Valley. We will save you the time, money and hassle of managing your rental property yourself and you will have more time to focus on growing your portfolio of rental properties.
To learn more about the services we can offer you contact us at (209) 572-2222 or click here to connect with us online.