If you have a rental property, which you would like to use as a source of extra money, there are many ways to make sure you get a reliable stream of additional income each month. However, without proper care and management, you might be earning less than you deserve. Follow this guide to learn exactly what you should and shouldn’t do when finding renters, setting the price and maintaining the property.

Setting the Price: Deciding on a fair market price for your rental property can be a challenging decision. Of course you will want to make as much money each month as possible, but holding out for too long with a high price might cost you money in the long run. Opt instead to come up with a realistic number by checking to see what other similar properties are asking for monthly rent. If necessary, spend a little bit upfront in order to repaint the walls or even install new flooring in order to make the home more attractive and desirable to future renters.

Change Your Insurance Plan: Many rental homes are unnecessarily protected with a homeowner’s insurance. While this is a smart choice when it comes to protecting your home and personal assets, it is more expensive than necessary for a rental property. Switch the policy over to a rental home insurance. Then, make sure that your rental contract stipulates that potential renters need their own insurance to cover the cost of their belongings if desired.

Choosing the Right Renters: There is a lot riding on your selection of renters. Great renters will maintain the property, respect the home and pay rent regularly and in full. However, not all landlords are so lucky. Many renters will have unrealistic demands about property maintenance, or ask for extensions when it comes to monthly rental payments. In addition, they may do damage to the property itself. While there is no surefire way to protect yourself or the property, do your best to come up with a contract that protects your financially as well as sets clear expectations for both parties about what is expected from the rental.

Managing Your Property: One you have renters in your house you must stay on top of repairs. Your rental agreement should include the items the renters are responsible for maintaining, but everything else is on you. If you are not a hands-on repair person yourself, make sure you have a reliable handyman you can use. There are several good handyman in and around San Jose and other metropolitan areas in California.

Sell the Property: If renting seems like too much of a hassle, or you would rather have the money upfront instead of in monthly payments for several years, there is the option to sell it. Although you won’t have a guaranteed monthly income, you will receive a large sum upfront instead.

About the Author: Any time you need a quick project handled on your rental property, contact a local handyman. If you live near San Jose, California, the handyman service at Case is reliable and professional.

• Does your moving checklist include what to do once you’ve moved?  Be sure to add this to your moving list:  Know your neighborhood from top to bottom – check the public transportation schedule, the school bus schedule, local markets, dry cleaners and ice cream shops.  Buy a couple of local street maps, keep one in the car and one on a bulletin board at home.
• Meet your neighbors – the quicker you do this the easier it will be to break the ice.  Pick up a big tub of cookie dough and unpack the cookie sheets – make plates to bring around with a smile to your new neighbors.  Carry a spiral notebook with you and meet everyone on the block.  Write down their names.
• Be sure to add this safety tip to your moving checklist:  Talk to local law enforcement and find out how you can check the safety of your neighboorhood.  Does your state offer a free online background check to find out if there are registered sex offenders in the neighboorhood?  Check out online sex offender registries – who is in your new neighborhood? It wouldn’t hurt to consider doing a criminal history background check if things don’t feel right!
• Hang out at the local parks, get a feel for the safety of the park.  Are there lights?  Is there a working pay phone?  What is the condition of the bathroom?  If you have small children can you see them everywhere on the playground?
• Can you exchange phone numbers with a few neighbors that feel trustworthy?  If so, do so.  If anyone makes the hair on the back of your neck stand up follow up with the tip for a background check!

Recently CBS news reported on an extensive study by real estate giant Coldwell-Banker which looked at cheap house across the nation. They also looked at the other end of the scale to identify the most expensive houses on the market. Even though California was the epicenter for the sub-prime melt down the state still holds top spot for the most expensive house in the country. In fact six out of 10 of the most expensive communties for buying a house were found in California. Here are the ten places to find the most expensive houses in America (note the comparative pricing data is for a 4 bed – 2 bath house of similar size):

#1 Newport Beach CA  - Avg price $1,830,000
- 2 Palo Alto CA  - Avg price $1,480,000
- 3 Rye  NY – Avg price $1,330,000
- 4 San Francisco CA – Avg price $1,330,000
- 5 La Jolla CA – Avg price $1,210,000
- 6 Greenwich CN – Avg price $1,190,000
- 7 Wellesley MA – Avg price $1,080,000
- 8 Pasadena CA – Avg price $1,040,000
- 9 Honolulu HA – Avg price$1,030,000
- 10 Santa Barbara CA – Avg price $1,020,000

Now, what you’ve been waiting for – the place to Find Cheap Houses actually the Cheapest Houses in the United States are:
1 Detroit MI –  Avg price $68,007
2 Grayling MI – Avg price $84,625
3 Sioux City IA – Avg price $85,967
4 Cleveland OH – Avg price$87,240
5 Muncie IN – Avg price $100,314
6 Norfolk NB – Avg price $107,814
7 Kansas City MO – Avg price$112,449
8 Canton OH – Avg price $114,325
9 Port Huron MI – Avg price $116,267
10 Topeka KA – Avg price $116,343

 Any time a country goes into a recession an natural response is for people to get scared and stop investing.  They fall into the “protect their money” mode and don’t do anything with their investable income.

This strategy is probably one of the worst strategies to adopt during the current financial climate.  Basic economics teach us that the way to make money with investments is to buy the investment low and sell the investment high.  You don’t have to be a financial genius to understand that concept.  It’s surprising however, that knowing this concept, so many people don’t put it into play when the timing is right.

A recession will definitely mean that you will lose money on many of the investments that you currently hold.  This isn’t fun for anybody and it’s understandable why it may leave you a bit sour about further investing.  The smart investors are the ones to realize that they can offset their losses and buy undervalued investments while the recession is under way.

A perfect example of this strategy is in buying cheap land.  Many people who were on the verge of losing everything are quickly trying to unload any asset that they can to generate some quick cash.  There is a lot of land out there for sale right now by people who will accept very low offers simply because they are in dire need of cash.  Smart investors realize that by picking up cheap land or other cheap investments, they will recoup their losses that they incurred during the recession and then some.

There is a sizable amount of land for sale by owner right now.  One of the main reasons for this is that people can’t afford real estate agents and are trying to sell their land themselves.  This is good news for real estate investors as you’ll be able to pick the properties up much cheaper since the seller doesn’t have to pay the real estate agent a commission.

This is just one example of how a smart investor can profit during a recession.  There are many more ways for clever and insightful investors to come out ahead when the U.S. eventually does recover from the recession.  One thing is for sure, the country will recover and those who were smart enough to invest wisely while prices were so low will be significantly better off than those who simply held onto their money as sort of knee jerk reaction.

What’s your strategy during the recession?  Do you see the light at the end of the tunnell?  Have real estate prices hit rock bottom?  Seeing the market bounce back?  What’s the real estate market doing in your neck of the woods?

Please chime in with your comments!

RPM San Jose is experienced in handling multiple properties and are the experts for Mountain View property management for the management of residential properties, condos and apartment dwellings. Mountain View property management will handle property care. Owners sometimes find it difficult to handle their properties due to other responsibilities. Alternate careers may prevent an owner from having the time to look after the property personally. Investors having numerous properties find it better to have a management company take care of the properties. Management is qualified to handle all aspects; sales, maintenance, leasing and collections for a customer.

Customers with properties may live in different parts of the world and find it impossible to keep an eye on holdings; management is available to assist in the supervision of these investments. We are available to help customers find homes as well as taking care of the maintenance of properties. Relocating is difficult when time must be place in other directions. With a phone call or a trip to a web site, housing can be looked at. Housing can also be prepared for rental or purchase without difficulty. Many circumstances can prevent persons searching for property from doing it personally. There are times when schedules and weather simply prevent personal presence.

As a part of Mountain View property management services, investors are assisted with placing tenants and dealing with credit screening for investors, taking care of property inspections, collections and evictions where necessary. A management company also gives investors reports on property conditions. Investing in a property does not mean the investor wants to have hands on participation. Many times an owner will invest money and enlist a property management company to take care of the day-to-day administration of holdings. Management has the on sight manpower to look after land and buildings in the absence of the owner, giving on site care to the investment.

In order to stay within their spending limit, it is important that people look to save as much money wherever they can – particularly when it comes to houses. A lot of financial experts have been suggesting that one of the best ways to do this is to purchase foreclosed homes, which have the benefit of being a lot cheaper. Obviously, there are a lot of risks involved with purchasing foreclosed homes as well, and it is important to watch out for these – however, if done right, purchasing a foreclosed home can be an incredibly good decision that will save you a lot of money.

It is important to note that a lot of foreclosed homes are not in the best condition. This is due to any number of reasons, but the biggest one is probably that the prior owners, who were going through the house foreclosure process, did not have the time or resources (that is, the money) to keep the place in good shape.  The bank foreclosed homes guide says, as a result, it is never a bad idea to ensure that you have every part of the place inspected before making any solid offers. Plumbing, roofing and general structural stability are probably the biggest problem areas when it comes to foreclosed homes. The cost of hiring experts to inspect the place can be expensive, but will save you thousands of dollars in the long run.

Take your time to inspect the home thoroughly, and you will be more comfortable with your decision.  Not only should you inspect the physical home, but you should inspect the title of your prospective new home also.  Talk to a title insurance expert in your town before you make your decision to purchase a foreclosed home.  You don’t want to inherit any invisible credit nightmares from the previous owner(s)!  A free and clear title is very important.

Santa Maria California Rentals

236 East Betteravia Rd Santa Maria CA

In Santa Maria California we’re waiting eagerly for a new business to lease the restaurant property vacated by Hudsons Grill.  This commercial restaurant property for lease in Santa Maria is handled by Epsteen & Associates.  The restaurant for lease stands alone in a very nice retail mall.  Neighbors include Ross, 99 Cent Store, Pier 1 Imports, California Fresh, and Avenue.  Across the street retail merchants include Target, and a fine new fast food restaurant, El Pollo Loco.  This California restaurant for lease in Santa Maria is located at a signalized intersection, and is 4785 sq. feet.  The landscaping is beautiful, and complements the Art Deco facade.  Attractive glass blocks provide architectural detail.  There is plenty of parking, and great visibility from Betteravia Rd, which is a major street, with good freeway access.  The only thing missing is a great idea and a solid restaurant to move in!  (The author of this post suggests a Basque Restaurant!)  Contact Epsteen Assoc. (805)684-7767 X101.  Hurry – we’re hungry!
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tags: Santa Maria Rentals, Santa Maria CA, Santa Maria California Commercial Rental Property, Central Coast California Real Estate for Lease

Contact Information:  Help U Sell Rental Property Management – April and Sandra – (805) 922-0077 
602 East Main Street, Santa Maria, California for Santa Maria Rentals

Help U Sell Rental Property Management in Santa Maria is available to assist property owners and renters with residential and commercial real estate leases in Santa Barbara County and San Luis Obispo County.  We specialize in Central Coast homes for rent.  If you are a California Central Coast property owner with a house for rent or condo you would like to rent or have rented, please contact us to handle your property management.  We’re happy to handle all your Central Coast and Santa Maria Rentals. We welcome California Central Coast commercial lease management as well.

Help U Sell Rental Property Management advertises on both San Luis Obispo County Craigslist and Santa Barbara County Craigslist for all your Santa Maria Rentals and Central Coast California rental needs.  We specialize in Santa Maria Rentals. Please contact April and Sandra today for SB County and SLO County Ca property management.  Our areas include Santa Maria, Nipomo, Guadalupe, Arroye Grande, 5 Cities, Grover Beach, Pismo Beach, Oceano, Shell Beach, Lompoc, Orcutt, Sisquoc, and Garey.  Please inquire for other Central Coast Property Management requests.

Central Coast Real Estate Agents wanted for article writing for this blog.  Attention Santa Barbara County and San Luis Obispo County Real Estate Agents – please submit 400 word articles describing your listings for rent, lease, lease to own, and buy for acreage, residential and commercial properties in San Luis Obispo and Santa Barbara Counties.  Include your name, contact info, link to the property on your website, address, price, and description of the property. 


This blog will provide a reciprocal link only.  Please leave a comment on this post if you would like to promote your listings.  No charge at this time through 2009 for this service.  Please review this week’s current search terms for this blog to give you an idea of what your potential customers are looking for.  Articles are not limited to these terms, submit any listings you’d like to promote.  Any licensed agent or For Sale By Owner listings welcome.  Also welcome are articles describing a service you provide to the real estate industry – escrow, title, loan, home staging, contractors, decorators, suppliers, etc.  Do you have some real estate info from across the country or around the world?  Our readers are curious!  Please submit general real estate articles today!

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Central Coast Real Estate Wanted: Land with home, barn and / or shop.

Here’s the email I received from Mike, and he describes himself and his family, and what type of business he would like to conduct in his business:

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Good evening, thank you for your kind reply and your insight into our trek to the central coast. We are looking to rent or lease for a year or so, although we have 2 sons living in the area, one a lawyer and the other a horseshoer, he is also a apprentice blacksmith under me.
Our ideal scenario is a small piece of land with small house and a barn or shop I can set up business. Always with the potential to buy, we are scaling back our life from 5000sq ft home after raising 6 children. I am 61 years old, active in the martial arts, please check out my website, http://www.ukfkenpo.com/ it will tell a little about who I am. We have also considered commercial property from Nipomo to Santa Marguerita, really like the Templeton downtown and would be a great place for a blacksmth shop. I have been a blacksmith for over 35 years and do anything that walks in the door, although I specialize in traditional methods of joinery all done hot with hammer and anvil. Been involoved in the western way of life and make a lot of stirrups, bits etc. all hand forged. Thats the deal. I also feel it would be a great asset to the greater SLO community, and I have work lined upm as we speak, I have done work all over the USA. We are proud Americans, I am a former Marine, Viet Nam veteran, and all three of my Sons are all former Marines. I look forward to hearing from you. Michael Pick

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So – anyone have a house and shop for rent in San Luis Obispo County? If you want to rent a property with a barn or a property with a shop this might be a good match!

Please post a comment and it will be forwarded to Michael Pick!
Thanks!