The small city of Monte Sereno, California is nestled in the northern slope of the hills of the Santa Cruz Mountains, and is just ten miles away from San Jose and 50 miles away from San Francisco. It is shoe-horned between the desirable communities of Saratoga and Los Gatos, sharing public services and utility providers with Los Gatos. Little traveled El Sereno open space preserve quietly overlooks and marshals the city limits. Minutes from a convenient Silicon Valley commute, many top innovative minds, entrepreneurs, business professionals and executives call Monte Sereno their home. The entire city spans less than two square miles and consists of a quiet residential community of around 4,000 people with no commercial activity within city limits. However, due to sharing a zip code with the city of Los Gatos and being so close to other large cities, residents of Monte Sereno still have all the resources they need to live a comfortable, peaceful and safe life. These are all reasons why investors are focusing their attention on Monte Sereno for potential investment properties, and it’s expected this attention will continue to rise before it falls.
https://siliconvalleypropertymanagementgroup.com Rental property owners usually desire three things from the professionals helping them; trust, transparency, and guarantees. Specifically, they want to know their properties are being taken care of properly by a trustworthy professional. To accomplish that first goal SVPMG performs pre-market rental property inspections of the properties we are considering to represent to determine compliance with the California Habitability Standards and state building codes. Most of our competitors don’t have the broad based experience and knowledge to competently accomplish this task. Our principal owner/broker, David Roberson, Esq., is a former building inspector (certified in 12 separate and distinct building codes and standards) and has inspected over 2,500 single family residences, 12,000,000 square feet of new construction commercial space and is very knowledgeable about each and every building he inspects. Having your rental property inspected prior to marketing and leasing it can save hours of troubleshooting and headaches after the tenant moves into the property.
Unfortunately, at least five souls lost their lives during the most recent devasting Northern California forest fires because their garage door openers did not function after power failed at their properties. In an attempt to help prevent unnecessary loss of life in similar situations the California Legislature passed SB 969 which will take effect July 1, 2019. The law effects any and all residential properties going forward because it imposes new requirements on all garage door openers installed into the future. Homeowners, residential rental property owners and property managers managing rental units who are replacing automatic garage doors will now be required to install garage door openers with battery backup systems.
What are the repercussions for the tenant and the homeowner for an unpermitted Accessory Dwelling Unit? David Roberson, Esq. answers the question at the “Tiny Homes, Micro Units & Community” event presented by the Winchester Neighborhood Action Coalition. If you need a property management professional to help you with your rental or investment properties call us today. www.svpmg.net 1-408-838-5113
Saratoga, California is located at base of majestic redwood forest forming the locally known Saratoga Gap on the northeastern and eastern slopes of the Santa Cruz Mountains. Ohlone Indians occupied this territory during their heyday as evidenced by artifacts and tools found in these foothills. Ordered by the Spanish government in 1776 Juan Bautista de Anza also travelled through Saratoga on his way to the Monterey Bay. Half a century later a large land grant to Jose Noriega and Jose Fernandez of the land area which today is known as Cupertino, Campbell, and Saratoga was consummated. Later Manuel Alviso bought this parcel and renamed the “ranch” Rancho Quito. The early beginnings of this little town gave no clue what it would someday become. Who knew this sleepy little village would someday become the home of some of Silicon Valley’s most famous business people?
When you’re thinking about advantages and disadvantages of owning a rental property, it’s easy to narrow the thinking down to the equation of rental income minus expenses equals your profit. This is a basic formula to start with, but there are so many different factors and variables that go into making it more complex than it seems. Many rental property owners don’t realize how much of their own time and effort is required for upkeep, taking tenant calls, collecting rent, enforcing leases and more. This brings us to the point of whether it’s worth the investment of your own time to handle these duties, or if paying a property management company to handle them for you is the way to go. Everyone views these perspectives differently but getting an overall understanding of both sides will help you make the decision that fits your lifestyle best. Finally, most people I meet don’t realize there are actually four (4) different ways to make money in rental properties – spending your time managing the property might not always be in your best interests.
For some people, owning a rental property can seem like a dream scenario. For others, it may seem like a nightmare they’ll never wake up from. It’s only natural to have mixed feelings about owning a rental property, since there are so many different pros and cons to think about. Even when you take the time to weigh them all out, it can still seem like there are just as many risks as there are rewards. Most of the time, a person’s experience owning a rental property won’t be a complete dream scenario where there aren’t any issues and the rent checks just keep flowing in. But the experience won’t be a complete nightmare either. It will be somewhere in between. There will be plenty of ups and downs, things you can plan for and things you get blindsided by. Everyone has a different risk tolerance, so making a list of the pros and cons of owning a rental property can help you decide whether the risks are worth the rewards for you.
I rarely use the “M” word because I’m not an industrial hygienist or a laboratory. However, mold is commonly talked about in the real estate world and is everywhere – that simple fact doesn’t take away from the seriousness of it. A mold infestation or contamination can be extremely damaging to a property and to investment property managers. Not only does mold put your tenants/residents at risk, but you and the property owner may have to spend a significant amount of time and money to properly mitigate the environmental condition and make the rental unit a safe and comfortable place to live. Moreover, mold creates a significant stigma on a property which most certainly attaches and affects value and desirability. In addition to educating yourself about mold, one of the best things you can do is focus on the common areas (bathrooms, kitchens, laundry rooms) where mold grows and do your best to prevent it by keeping these rooms, walls, ceilings as dry as possible. However, if mold/mildew growth is already there, it’s time to take care of it before the issue becomes more serious. Remember, a property manager and/or landlord’s primary duty is to provide a habitable rental unit – a unit with mold is not habitable.
After performing a comprehensive and exhaustive analysis and identifying realty as your next investment, one of the most important tasks real property investors can do before pursuing an investment strategy is to determine the risks associated with it. It’s virtually impossible to completely avoid risks so the more you can understand about your investment by conducting due diligence, the more you learn about your risk strategy and mitigation options, the better your chances will be of making a successful and profitable investment. Doing homework, asking many questions, and performing comprehensive investigations are just some of the things that needs to be done before you pull the trigger. Just winging it is not a strategy.
Green technology is the wave of the future, not just in Silicon Valley, but across the globe as well and we can all play a part in improving the environment by utilizing alternative means for generating electricity. As each individual makes an investment into global preservation by making the decision to include solar panels on their investment properties, or any alternative energy method, they have enforced the greater good principle which we should all consider during our time here on earth. This especially includes those of us who are lucky enough to own real property improved with structures. Non-owner occupied property owners are increasingly considering solar energy into their property management plans and for good reason.