Daly City Property Management
Renting out properties for profit can be a financially rewarding endeavor, particularly if it happens to be located in a desirable neighborhood with a strong job market, high quality school system, low crime rates, and easy accessibility. Daly City, CA is just one of those attractive neighborhoods.
By investing in rental properties, you can have an additional income stream and build equity while the value of the property appreciates. Plus, if you’re working with a top-notch property management firm in Daly City, CA, you can just sit down and relax while the money comes rolling in month after month. Is there anything better than making your investment work for you?
Rental Properties: Pros and Cons
Before investing in rental properties, you need to know what to expect. You need to know the benefits and drawbacks when renting for profit to determine if the business is right for you.
Pros
- It can be an extremely lucrative business venture.
- It comes with several tax benefits.
- It can be a viable passive income source.
Cons
- The cost of upkeep can be significant.
- Difficult tenants can be a constant headache and may eat up your profits.
- Investing in rental properties will bind your assets and affect your financial liquidity.
- Taxes and insurance premiums may increase faster than rent.
- Negative changes in the neighborhood and local politics may cause property values to depreciate considerably over time.
Now that you know what to expect when investing in rental properties, are you ready to give it a go?
Daly City, CA: Getting to Know the City
Daly City, popularly known as the “Gateway to the Peninsula”, is the most populous city in San Mateo County in California and is home to more than 106,000 individuals (2019 statistics).
Located south of San Francisco, Daly City can be accessed through State Routes 1, 35 (Skyline Boulevard), and Interstate 280. According to the 2015 American Community Survey, Daly City is among the cities with the highest number of people who use public transit commuting to work.
From its humble origins as a farming community, the city is now a booming residential community, regional retail center, and health care hub.
Why Invest in Rental Properties in Daly City, CA?
There are more than a few reasons why investing in rental properties in Daly City, CA can be a move in the right direction. Here are some of them.
The city is known for its high appreciation rates. Daly City scores an impressive Redfin Compete Score of 76 which means that the housing market in the area is extremely competitive. The average home usually sells around $780,000 and gets multiple offers, often with waived contingencies.
Generally, homes sell for 12% above the list price in 14 days while more desirable properties sell faster (around 8 days) for 20% above the list price. Home values increase by approximately 18.9% year-over-year.
Considering the current home values, about 42% of the residents prefer to rent. Residential homes usually command a median rent amounting to $2,220 per month.
Renting out properties for profit in Daly City can be a gold mine, so grab the opportunity. Don’t let your fears stop you. Remember, you can maximize your earning potentials even if you don’t have enough experience in the industry as long as you’re working with a credible Daly City property management company.
Daly City is home to some of the country’s most notable companies and institutions such as Google, Meta, Salesforce, Autodesk, University of California Berkeley, Genentech, Twitter, Workday, Accenture, and UC San Francisco. Add Deloitte, Visa Inc., Uber, Kaiser Permanente, Pacific Gas & Electric, Oracle, Target, Amazon, Tesla, and Wells Fargo to the list (plus a lot more!) and you’ll have more than enough reason why people flock to the city.
Daly City is one of the more popular living destinations in the country. Aside from the lucrative job market, Daly City has a great public school system, ample outdoor recreation and shopping options, and a strong and diverse restaurant scene.
Professional Property Management in Daly City: Why Do You Need One?
Since hiring a Daly City CA property management company will cost you a portion of your profits, why should you even consider doing it? There are several reasons why working with a property management firm in Daly City is highly recommended.
- They can help you make the most from your investment. Yes, you need to pay for their services but you’ll eventually make more money since they can help you find the ideal tenants who will pay their rents on time, stay longer, and keep the property in great shape.
- They will do the work for you. Being a landlord is a serious job that requires your time, energy, and attention. Not all people can handle the tedious and often time-consuming tasks of finding ideal tenants, tracking and collecting rent payments and late fees, dealing with tenant requests and complaints, and other landlord-related tasks so let the pros do it for you.
- They know all the applicable laws. If you’re not knowledgeable in state and federal housing regulations and property laws, you’re at a high risk of encountering legal problems. You wouldn’t have to worry about this if you’re working alongside a professional property manager.
Tenant Planet, Inc. : Here to Make a Difference
At Tenant Planet, Inc. , we aim to make a difference. We want to see you succeed and we’ll do everything we can to make it happen. How do we do it? For starters, we will take a more innovative approach and use modern technology to keep your business running smoothly. By choosing us, you will make the most return from your investment. That’s a guarantee.
If you’re interested in what we have to offer and want to learn more about us and what we can do to help you on your project, please feel free to Request a Proposal or call us at (619)427-2400. For questions or comments, send me an email at parker@tenantplanet.com and I’ll do my best to answer them for you.