As a newbie to the rental property business, you may be nervous about making that first purchase of your investment property home. Do you know what things to consider to attract renters? If you have ever rented a home yourself, then you have experience in what home renters are looking for. Most homes are rented to families who are happy with the less burdened renter lifestyle or who are new to an area and checking out that area before they buy a home. As in every part of the Fresno property management process, your Fresno property management team can help answer any questions you may have during the purchasing phase. Here are a few suggestions from the pros:
1) Look for homes no older than 15 years. This will help keep down maintenance costs and save you money in the long term.
2) Look for homes that are not located on busy streets and have fenced yards, as they are generally more attractive to renters.
3) Rental properties should have at least 3 bedrooms and 2 bathrooms and be located in neighborhoods where home values are appreciating. This allows you, as the owner, to charge a higher rent.
4) Consider the proximity of the property to things people need and/or want: Schools, public transportation, shopping, and dining.
5) If the home is in a HOA, there may be fees for violations and signage and parking rules. Be sure to identify what the HOA codes are and how you will enforce them with your tenants.
Remember that the decisions you make in the purchasing process will affect you in the long term. The property type you choose will affect what type of potential tenants you attract and how long the home stays vacant. These are all things to consider as you begin your journey into the rental property industry. By making smart decisions today, you and your Fresno property management team will be pleased with your future results.
Have more questions about a Clovis or Fresno rental home? Have questions about property management? We specialize in single family homes in Fresno, Clovis and Sanger.
Want to learn more about Fresno property management? Please contact us for more information.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
