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Attention Investment Property Owners: Rents On Property In San Jose Are On The Rise
Attention Investment Property Owners: Rents On Property In San Jose Are On The Rise
Investors may be happy to hear that the average rent for a rental property in San Jose is on the rise. After the housing market collapse in 2008, it has taken some time for the property market to rebound.
San Jose,
CA,
United States of America
(sardnews.org)
16/05/2012
Investors may be happy to hear that the average rent for a rental property in San Jose is on the rise. After the housing market collapse in 2008, it has taken some time for the property market to rebound. Compared to the rents charged shortly after the housing market collapse in July of 2009, rents are the highest they have been for both 1 and 2 bedroom apartments and houses.
In July of 2009, statistics show that the average rental price for a 1 bedroom apartment was $1294 per month and $1690 per month for a 2 bedroom property. As of April 2012, this average has risen dramatically with 1 bedrooms coming in at $1521 and 2 bedrooms averaging in at $1774 per month. This is an increase of more than 5 percent in 1 bedrooms and 3 percent in 2 bedrooms. While these figures do not benefit renters, they certainly are benefiting the investors who own the property and rent the property out to tenants.
One of the main reasons for the increase in the average cost of rent in San Jose is because of an increased demand. San Jose is certainly an economic hub in California and more and more people are moving to the area for greater employment opportunities. These individuals may not have the credit or the savings to purchase a home and are forced to rent. With lenders in San Jose buckling down on their lending requirements, many people have been forced to rent for longer periods of time before they can become homeowners.
Landlords who own investment property in San Jose can attract a wide range of different renters who are looking for both affordable and luxury property in or around San Jose. The investors can attract prospective tenants themselves or they can also be a hands-off landlord and choose property management in San Jose. Property managers will market a vacancy, show the properties to tenants, and also manage the property while it is occupied. This gives the landlord more freedom to earn an income without being directly involved.
As the average cost of rents increase in San Jose property management has become more popular. If you are interested in learning more about how to earn a regular rental income without all of the work, contact Real Property Management directly at 408-526-0900 and discuss management service options and prices.
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