Renting a property in San Diego means you should consider many different factors as an owner. Searching across the greater San Diego area you'll compare properties from El Cajon to Mira Mesa, and back to downtown San Diego.
Thinking about getting into the rental market in San Diego? Learn how to buy or rent competitively in this hot property market. Here are some things to keep in mind:
1. Great Weather & Great Walk Scores
The weather in San Diego is truly wonderful. No matter what time of year you look at, you'll find sunshine and temperatures rising above the 70s even in winter. Minimal rain makes the area a mecca for walkers, runners and bicyclists. A great rental will have a high walk score, with access to the outdoors near popular parks or trails.
Cities like Pacific Beach, Ocean Beach, Coronado, Del Mar and La Jolla are all in high demand due to their proximity to great public grounds, beaches and hikes.
2. Ocean Views Increase Demand
San Diego residents enjoy visiting sunny beaches like Ocean Beach regularly. Many seaside areas like this in San Diego offer a little something for everyone with daily shopping or enjoying a drink by the water.
Don't forget the surf either! Rental property in San Diego that demand the highest rent will have easy access to the beach, whether that's an ocean view of an express bus through town.
3. Rentals Provide Needed Housing
Property values in San Diego County continue to increase. In addition mortgage rates are rising and expected to continue upwards. In such a hot market, buying may not be for everyone. With limited choices for housing, renting provides a workable alternative for singles and families that aren't ready to purchase yet. This makes rentals in San Diego in high demand.
4. Growing Rental Market
While rental markets may be shrinking in many areas, the San Diego market continues to grow and rent continues to increase. This growing market provides added value for property owners, as well as added selections and amenities available to renters. Recent studies show that the rental real estate market grew by 4.3 percent in 2016 and the fundamentals of the economy are strong
5. San Diego is Great for Families
San Diego residents can enjoy the Southern California City Pass. This pass lets area residents choose from multiple popular attractions from the San Diego Zoo to Legoland to Disneyland. With customizable options, residents can experience days of fun with special discounts for Southern California residents.
6. Gardens and Plants Grow Year-Round
Gardens and plant life help make a great rental more attractive, and many plants bloom year round in San Diego! Whether renting a lush condo courtyard or creating a veggie plot in the backyard of your single-family dwelling, this sunny area attracts renters with a green thumb. For additional plant and landscaping ideas, check out the local Botanic Garden.
7. Entering the Market? San Diego Property is Still Appreciating
Because we live where others vacation, values of San Diego properties are increasing rapidly. If you're looking to get into the San Diego real estate market, now is the time to do it. Purchase a rental property in the right area, and you could cover your mortgage with the rent.
8. Sunny Climates are Great for Solar Energy
For those who are eco-minded, or simply want to save some money on their electric bill, San Diego's sunshine is a perfect fit for solar energy. Check out some of the area's top solar providers with Yelp.
9. Water Sports Provide Fun for all Ages
Southern California weather lends itself to both pools and hot tubs. A great rental property in San Diego will have access to a pool. Many multi-family apartment rentals will have a community pool and hot tub, while single-family homes will often have a small pool around 5 feet deep. If your property doesn't have a private pool, consider purchasing a rental located near the city's many swimming pools in the San Diego area.
10. San Diego is Great for Sailors
The Pacific Ocean provides ample opportunity for boaters and sailors to enjoy the waters. If you want to attract high-end tenants, look for possible rental properties with either boat parking or access to a nearby marina dock for water hobbyists. There is also a strong housing demand from the nearby Naval Base, one of the largest Navy bases in the world.
Renting your property through a reputable San Diego Property Management Companies matters. For more information on property management of single family homes, multi-family properties, or the San Diego area, contact the experts at Property Advantage online.