If you’re considering buying a rental property, we want to talk to you about what you should be looking for, and which seasons are the best times to put it up for rent.
Here at PRANDI, we don’t do sales, but we do watch the sales market closely, and we can give you advice on whether you’re making a good rental property purchase.
Buying Investment Property in a Great School District
We’re seeing a lot of people move here for the schools. If you purchase a home in a good school district, you can’t go wrong. There will always be a demand for housing from people who are moving here for the wonderful schools. Areas like Green Bray, Larkspur, San Anselmo, Tiburon, and Mill Valley, are all some of the most sought after school districts. They’re also close enough to the city that people can still commute to workplaces.
Rent Your Property Out in Spring and Summer
Next, consider the seasons. Because most people are moving here for the school systems, we see the highest rents achieved between April and August. No one is choosing to move in the middle of the school year. So, if we can time the rental to be available between April, May, June, and even July, tenants can get their lease signed and get their kids enrolled in the local schools.
Then, it’s going to be a good time to lapse that lease around a one-year term. If a renewal is due to come up in October, November, or December, we’ll talk about doing an 18-month lease. So, if the tenants move out after the lease period, we won’t be stuck in that time frame. We try to customize the lease to fit what’s best for the market.
If you’d like to learn more about the best time and place to buy an investment property, please contact us at PRANDI Property Management.