Remember when we could count on June as being our peak rental season in San Diego? The weather is nearly perfect, the days are longer, students are out of school, and it’s a great time to find and hold awesome yard sales, where you’re sure to pick up some treasures and clean out what you no longer need. What a wonderful time to make a change! Summer, in general, is a great time to move, for all of the same reasons.
Though, according to recent national reports, San Diego’s rent prices for one- and two-bedroom apartments were up 20% this June, rent for the same units actually took a dip by 6% last month compared to the same time last year. It’s too soon to tell if that means rental prices are coming down, but you can count on Palomar Property Services to keep our thumb on the pulse and, in the meantime, do what we do best, and that is to be a leader in the San Diego rental placement and management service. It might take some time before our rental market swings back to what we knew as the “season to move” but we’re the ones you can count on, especially in this unpredictable market.
So, what can you do to be a pro-active renter or homeowner?
Today’s renters are looking for a turn-key property. They are serious tenants who, in a home that is well maintained and ready to be occupied, are more likely to treat it as their own, with pride and respect.
Homeowners, a little extra effort goes a long way! Updated homes are the most desirable and best maintained by tenants. If the kitchen or bathrooms are dated, the carpet is worn or the paint is faded, you can’t expect to get the top dollar a good tenant is willing to pay.
Tenants, when it is time to complete an application, be prepared with all the documents required. Leaving out pertinent information can be detrimental in such a high-demand market. And don’t forget to secure the proper insurance as a renter, or as required by the property management company.
If you are a first-time landlord, be sure you’ve spoken to your mortgage company and your tax consultant for the professional advice only they can provide you.
These are just a few tips we have to offer. We’re just a phone call away and would love to discuss your rental property or your rental needs!
John Boruff, licensed real estate agent and managing broker, is the founder and president of Palomar Property Services. John’s experience in property management and real estate goes back to 1984, when he began leasing and managing multiple properties, including warehouses, small manufacturing plants and office buildings. He ventured into the business of residential property management by purchasing multiple single-family homes in the Oak Hill development of Escondido in 1990. John’s investment experience spans as close to home as Escondido, CA, the greater San Diego County region, and as far as St. Louis, MO. A talented negotiator, he can navigate even the most challenging real estate transactions with an intuitive ability to close the deal.
John has consistently served real estate investors with the highest level of property management services for over 12 years, and at Palomar Property Services, John and his team of licensed agents have become a one-stop, full-service real estate company. With customer service, efficiency, and state-of-the-art technology a priority to John, and combined with his extensive real estate knowledge, Palomar Property Services is second to none in San Diego County.
John consistently shows an unparalleled work ethic, earning him respect among both regional and local realtors. Throughout his professional life, honesty and integrity have been the building blocks of John’s success in his careers, resulting in one of California’s most premier property management companies.
