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Why It’s Important to Pay Attention to Rental Property Income in Northern California

Why It’s Important to Pay Attention to Rental Property Income in Northern California
By Roger D. Eagleton - Tuesday, September 25, 2018

In today’s environment, we’re seeing that the rental market is undergoing a bit of a contraction. Part of this is due to some of the trends in the overall rental market. It’s a good example of why it helps to have a finger on the pulse of the market. We do this every day as professional property managers. But, as an individual landlord, you may not be as in tune with how the market is behaving.

Rental Property Income and Raising Rents

When it comes to re-renting your property or renewing a lease, it’s important to know if the market has increased to determine how much rent should be. Factor that into the lease agreement. You want to keep a tenant long term, but you have to plan for increased maintenance expenses, property taxes, and insurance. So, if the market will bear an increase, you should do it when the time comes. Keep your tenant on a fixed term lease as well. You want to know your rental income will be predictable for the next 12 or 24 months.

Rental Property Income and Decreasing Rents

On the flip side, when the market decreases and you have a good tenant who is taking excellent care of the property, you might want to offer your renewal at a lower rate or throw in some incentives like maybe a carpet cleaning. We’ve also seen owners offer flat screen televisions or something to show the tenant that you’re happy they are in the property. When they renew their lease, you have that security for the next year or two. Despite what the market is doing, you have that guaranteed income stream.

Property Management Burlingame

We are always happy to answer questions about this, especially as they pertain to your property. The market depends on what kind of property you own, your location, and a number of other factors. Each property has a different price. There’s no answer that’s the same. We know there are a lot of things to consider when you’re approaching this topic with your tenants or your Burlingame property management team.

If you have any questions about improving or maintaining your rental income, please contact us at Five Star Property Management.

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Roger D. Eagleton
President / Broker
Looking for a property management expert who can take your rental properties to the next level? Look no further than Roger D. Eagleton, a true seasoned professional with a diverse background in real estate. After earning his degree from California State University, Bakersfield, Roger began his career in the real estate industry with several national banking and lending institutions, sharpening his skills in real estate finance. He later founded Energy Real Estate and Five Star Property Manageme...
Looking for a property management expert who can take your rental properties to the next level? Look no further than Roger D. Eagleton, a true seasoned professional with a diverse background in real estate. After earning his degree from California State University, Bakersfield, Roger began his career in the real estate industry with several national banking and lending institutions, sharpening his skills in real estate finance. He later founded Energy Real Estate and Five Star Property Management and has since been committed to providing his clients with the highest quality property management and real estate services. With an extensive knowledge of residential income property, Roger is well-equipped to take on the unique challenges of managing rental properties. He works closely with private investors and court-appointed conservators to ensure that fiduciary properties are managed to the fullest potential. He also has a wealth of experience managing single-family homes, apartment buildings, and commercial properties and holds a California Real Estate Broker’s License, BRE# 01791264. But Roger's expertise doesn't end there. He is also a championship-winning professional race car driver, who used his platform to give back to the community through various philanthropic activities and charities around the greater bay area, including serving as a driving coach for NASA’s Teen Car Control Clinic. He understands the importance of safety, and his coaching has helped new drivers improved confidence and experience on the road which ultimately saves many lives. When you partner with Roger and his team, you can trust that your rental properties are in the hands of an experienced and dedicated professional who always prioritizes the investment goals of his clients. With Roger's knowledge, experience, and passion, you can rest assured that your rental properties will be managed to the highest standard, maximizing returns and minimizing headaches for you as the owner.
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