• Owners
    • Owners
    • Owner Portal
    • Prospective Clients
    • Current Clients
    • Sell Your Rental
    • F.A.Q.
    • Rental Proforma
  • Tenants
    • Tenants
    • Tenant Portal
    • Submit Maintenance Request
    • Prospective Tenants
    • Current Tenants
  • Blog
  • Call Us Today (510) 833-6000
  • Schedule A Phone Call

Keyrenter Property Management East Bay

Property Management in Berkeley, East Bay

  • Property Management
    • Comprehensive Services
      • Tenant Screening
      • Evictions
      • Property Inspections
      • 24/7 Maintenance
    • Types of Management
      • Homes & Condos
      • Apartments
      • Multifamily
      • Lease Only
    • Who We Serve
      • Rental Homeowners
      • Multifamily Apartment Managers
      • Real Estate Investors
      • Realtors
    • Learning Center
      • Should I manage My Property
      • Keeping Maintenance Cost Low
      • Staying Informed From Afar
      • How to Choose A Property Manager
  • Search Rentals
  • Pricing
  • About Us
    • Testimonials
    • Meet The Team
  • Contact

The Need to Know Rental Property Facts and Trends – Keyrenter East Bay

Are you up to date with changes to the Rental Market?

Rental properties are a great tool for getting in extra, steady income. But if you’re not paying attention, changes in market trends can sneak up on you.

Don’t worry, we’re here to help! Read on for important rental property facts and trends for the East Bay markets.

Rentals are a Growing Market

There are over 100 million renters in America. Between 2010 and 2018, the number of renters increased by 9.1 million.

And the share of renters now makes up 37 percent, which is the highest it’s been since 1965. In the past, the percentage of renters has fluctuated over the years. But, since the 2000s, it has seen consistent growth.

This means that it is currently the best time in the last 50 years to invest in rental properties.

The Importance of Millennials

Increased property prices and an increasingly mobile workforce have resulted in Millennials being the largest rental and the smallest homeowner demographic in the United states. Only 4% of all homeowners are Millennials.

The sheer volume of millennial renters is not something that can be ignored when looking for a rental investment. A rental property that is appealing to this younger demographic will have much less difficulty finding a tenant.

The age at which Millennials purchase homes is also increasing, meaning that they remain in the rental market for longer – increasing their attractiveness as long-term tenants.

Less Families with Children

Family units are less likely to move around, which is why the prevailing wisdom has always been that the most attractive long-term rental properties were family homes. But over the last decade this idea has been put to the question

Since 2010, the number of American families with children has decreased by 1.3 million. As the types of properties that are most sought after by renters depends on their family composition, it is likely that ‘family homes’ will become less sought after in the rental market.

Although the overall numbers of renting families have only decreased slightly, this is a trend that should not be ignored.

Rental changes in 2020

Although historically overpriced cities like New York and San Francisco have seen rent reductions this year, the same cannot be said of for most cities. Even during the uncertainty of 2020, the US rental market has seen a strong trend in rent prices.

The rental market in East Bay remains strong, and has actually seen some of the largest increases across the country. The average rent for a one bedroom property has increased Year on Year by 15.9%, closely followed by 2 bed properties at 15.10%.

Rental Property Facts Everyone Should Know

As you can see, the rental property market is a booming industry, and by keeping on top of the latest rental property facts and trends, you can make great long term investments in the market.

If you are looking for quality property management services, contact us today at Keyrenter East Bay Property Management today. Whether you are a homeowner or a real estate investor, our award-winning services focus on maximizing your profits and maintaining your rental property.

Share and Enjoy !

0Shares
0

Filed Under: Property management Tagged With: facts, Property Management, trends

5 Landlord Responsibilities Every Landlord Should Know – Keyrenter East Bay

Keyrenter Property Management Blog East Bay Landlord Responsibilities

Did you know that there are over 48.5 million rental units in the US? While there aren’t many accurate statistics on how many landlords there are, suffice it to say that that million rental units means that there are quite a few landlords across the US. 

If you are a new landlord or are considering purchasing a rental property, there are certain requirements that, by law, you must follow. Keyrenter East Bay outlines some of the most important responsibilities you should have as a landlord below.

1. “Warranty of Habitability”

In simple terms, this means that the landlord must provide a safe and habitable space for the tenant. Habitable means that the rental unit must be secure and free of hazards.

The necessary utilities must be provided, including water, appropriate heating systems, and electricity. The unit must be pest free and any damages to windows or doors that would render the unit unsafe must be repaired. 

If there are local requirements pertaining to safety, those must be followed as well, such as lead paint disclosures, providing safety measures such as handrails and appropriate outdoor lighting, and removal of snow, ice, or other hazards (unless it is specified otherwise in the lease).

2. Making Repairs Promptly

Landlords may not be obligated to repair certain things immediately, such as ripped carpet or something that doesn’t impact the habitability of the rental unit, but other repairs must be made promptly. Broken HVAC systems, sewage backups, water damage, malfunctioning sinks or toilets, and shorted wires or electrical problems must be addressed. 

Your state or local area may have requirements as to how quickly repairs must be made, so be sure you are adhering to these laws. 

3. Maintaining Insurance 

Landlords do not have to insure the personal belongings of tenants, but they are responsible for insurance policies covering the structure. Tenants need a renters’ insurance policy to cover any of their personal effects inside the unit, but the landlord will hold the insurance to cover things like the roof, walls, and outdoor spaces. 

Any damage to the structure is the responsibility of the landlord and their insurance company, not the tenants.  

4. Provide Contact Information for Emergencies

Whether you provide your tenants with your contact information or that of a property management firm who handles emergencies and maintenance requests is up to you, but you must provide some way for tenants to report any emergencies or make maintenance requests.

If you are an absentee landlord who does not maintain the property, you face the risk of legal repercussions from code enforcement or other agencies. 

5. Return Security Deposits in a Timely Manner

The lease should specify when the security deposit will be returned. This is typically dictated by state law and is often between 30 and 60 days. When the tenant moves out, landlords must do a walk through and note any damage that is present.

If you are going to withhold any part of the security deposit, you must document the damage and the deduction. Most states will not allow you to withhold part of the security deposit for normal wear and tear, so be sure to clarify what you can charge your tenant for upon their departure. 

Landlord 101: What You Should Know Before Becoming a Landlord

These are just a few of the important things you should know before becoming a landlord. It is a big responsibility and can take a considerable amount of time, especially if you want to do it right. One of the most crucial tips is to make sure you are knowledgeable about landlord-tenant law in your state. 

If this all sounds a bit overwhelming, considering hiring a property management company to handle the landlord duties for you. They can handle all aspects of renting, from advertising your property, screening tenants, preparing leases, handling repairs and maintenance, and facilitating move out.

Contact us at Keyrenter East Bay today to learn about how we can help you be a successful landlord.

Share and Enjoy !

0Shares
0

Filed Under: Landlord Responsibilities, Property management, Property Manager Tagged With: landlord help, landlord responsibilities, Property Management

How Drought-Tolerant Landscaping Increases Property Value and Appeal – Keyrenter East Bay

Keyrenter Property Management Blog East Bay Landscaping

Are you a homeowner? If so, then you probably understand how much small changes can impact property value. This includes adjustments made to your landscaping. 

Believe it or not, improvements to your home’s landscaping is one of the best investments you can make. This is especially true of drought-tolerant landscaping which reduces the amount of water needed to maintain the vegetation around your house.

Keyrenter East Bay looks at various drought-tolerant landscaping benefits. Keep reading to get the inside scoop on how to keep your home looking great while reducing your water usage.

Save Money By Saving Water

For starters, drought-tolerant landscape design is a great way to reduce water usage at your home. After all, most homeowners waste a tremendous amount of water in an effort to keep their lawns looking healthy and beautiful.

Cutting back on water usage is an ideal way to save money. Thus you are reducing your monthly expenses while also helping to take care of the environment.

No Need for a Lawn Mower

During the warmer months of the year, lawn care can often begin to feel like a full-time job. Most people mow their grass at least once every two weeks, if not more. Drought resistant landscaping largely eliminates the need to own a mower. 

Make Your Property Look Larger and More Beautiful

Another benefit is the fact that your property will actually look larger and more beautiful than before. This is because the edges of your lawn will seemingly melt away rather than butting up against boundaries. 

This results in landscaping that blends naturally with the native plants that already grow around your home.

You can also incorporate retaining walls, as well as small ponds and fountains in order to create a greater sense of depth on your property. 

Eliminate the Need for a Sprinkler System

Without grass to water, there’s no need to invest in expensive irrigation or sprinkler systems. This obviously saves a great deal of money, and will also cut down on the amount of water wasted by these types of automated in-ground systems.

No Need to Worry About Lack of Rain

Without a lawn that’s constantly in need of being watered, a lack of rainfall isn’t an issue. Thus it doesn’t matter how dry or hot the climate happens to be. By utilizing drought-resistant plants and decorative rocks, the amount of rain you receive annually won’t be a major factor in maintaining your lawn.

Provides Curb Appeal for Home Rentals

It’s no secret that lush, large, mature landscaping is one of the fastest ways to attract quality tenants. After all, potential tenants are looking for a beautiful home. Drought tolerant landscape design on the outside of your home provides year-round beauty that’s will give them a reason to also want to see the inside as well.

A Guide to the Benefits of Drought Tolerant Landscaping

There are few things more satisfying than increasing the beauty of your home. Fortunately, drought-tolerant landscaping is one of the best investments you can make for taking the property value of your home to the next level.

Please feel free to contact Keyrenter East Bay for more information about our property management services.

Share and Enjoy !

0Shares
0

Filed Under: Property management

8 Ways to Keep Your Rental Properties Pest-Free

A rental property that is infested by pests will become an extremely expensive problem. Not only will you have to have the infestation removed, but you will also be unable to rent out the property until the issue is resolved. Here are 8 of the best ways to keep your rental properties pest-free. 

1. Seal Entry Points 

Ensure that entry points are sealed. When there is space around the entry points, it is possible that pests will infiltrate the property through these places. The same thing applies to cracks in the building, as these may allow pests to enter. 

2. Remove Standing Water

Standing water ultimately attracts pests. It is important to ensure that you have standing water removed and the underlying problem resolved in order to prevent this standing water from attracting pests to the property. 

3. Exterminate Regularly

Hire an exterminator to regularly go through and inspect the property. They will be able to identify issues that may lead to a pest infestation. 

4. Add Screens

Screens, such as screen doors or window screens, can help to provide an extra layer of protection to the building. These screens can prevent bugs and other pests from entering the property.  

5. Secure Trash Bins

Trash can also attract pests to the property. It is valuable to ensure that the trash bins on the property are able to securely hold trash until it is collected. This can help to prevent a pest infestation. 

6. Keep Common Areas Clean

Though keeping the property clean may fall to the tenant, it is the landlord’s responsibility to ensure that common areas stay clean in order to prevent these areas from attracting pests. 

7. Educate your Tenants

There are many pest-prevention techniques that are only possible for the individuals that live on the property. Ensure that you educate your tenants regarding the importance of pest-prevention and the steps that they can take to prevent pests on the property. 

8. Get Rid of Clutter

The more clutter the property has, the more spaces pests have to hide. Removing some of the clutter will help to prevent this issue from arising. Our experts at the Keyrenter in East Bay are knowledgeable regarding an array of property management aspects. To learn more about how to protect your investment and prevent pest infestations, contact us today!

Share and Enjoy !

0Shares
0

Filed Under: Property management

How to Make Sure Your Rental Property Will Show Well and Stand Out

No one wants their property to stay on the market for too long. When your property sits vacant, you’re losing income you otherwise would have gotten. In order to combat this, you’ve probably posted many photos online, but it’s important to make sure the property is ready to show as well. Nothing sells a property quite like a prospective tenant walking through the doors and imagining themselves living there. Here are a few methods to make sure your property is ready to make a great first impression.

Curb Appeal

If the exterior of your property is not clean, it will give the impression that the rest of the property isn’t taken care of and your prospective tenants won’t want to go inside. There are many small things you can do to increase the curb appeal of your property. Mowing the lawn, removing weeds and trash, and adding a few flowers are a few inexpensive things you can do. You might also consider adding a fresh coat of paint or making sure the mailbox, light fixtures, and house number decals are all in good condition.

Do Basic Repairs

Make sure you can honestly say everything in your property is in working order and ready for them to move in. The last thing you want is for a prospective tenant to notice a leaky faucet or ask about the dryer that needs fixing. This will also allow for your tenants to move in and not have anything to complain about the first few months of living there.

Consider Staging

If you’re having a hard time filling a property, bringing in a professional to help with furnishings and decorating can help it sell quickly. Any personal artwork, photographs, or unique decorations should be avoided, as they usually don’t go over well during showings. Making sure these prospective tenants can see themselves living there is very important, and leaving up any personal items or decorating to a personal taste can dampen that illusion you’re trying to create.

Highlight Focal Points

Most properties have certain focal points or features that make them stand out against others. These selling points should be decorated to stand out and should also be highlighted during the tour. Some examples could be big bedrooms, beautiful views, walk-in closets, fireplaces, or window seats. Whatever it is, a little decor such as throw pillows or brightly colored picture frames can help them stand out.

Keep it Simple

Above all, whether during staging or adding new decor, it’s important to keep it simple. Extreme styles will throw people off and discourage them from signing, but neutral paint colors and furniture with small, tasteful accents will attract more tenants.

Share and Enjoy !

0Shares
0

Filed Under: Property management

How to Protect Your Home, and Yourself, From the Coronavirus

There have been many changes that have created drastic changes to people’s everyday lives over the past couple of weeks. Because of these, many people are becoming worried about how they can prevent this new virus from affecting themselves and their families and prepare for the future. Although we don’t have all of the answers, here are a few ways you can make a difference in the preparedness of your family and keep the spread to a minimum.

Keep Your Food Storage Full

The American Red Cross suggests everyone stock up supplies and be prepared to last without grocery shopping trips for a minimum of two weeks. These include cereal, crackers, pasta, rice, frozen vegetables, and canned goods. Soup or drinks such as Gatorade may be a good idea too, just in case someone in your family does get sick and needs to stay hydrated. This is also a good idea simply because you want to limit your potential exposure to the virus, which means staying inside and away from people. Limiting your trips to the grocery store will help with this.

Sanitize Your Home

Not much is known about the Coronavirus, however, it does seem that it’s surrounded by a lipid covering that soap can break down. Because of this, it’s a good idea to take the time to sanitize the surfaces in your home, including countertops, doorknobs, faucets, cellphones, and anything else that gets touched often. You can use any normal household cleaners or even just soap and water. Do this often as germs will continue to build.

Wash Your Hands

One of the best things you can do to prevent the spread of this virus is to simply wash your hands. Make washing your hands as soon as you come in the door of your home a habit. Do so with soap and warm water for at least 20 seconds. Try not to touch your eyes, nose, or mouth with dirty hands and always cover your mouth when you cough. 

Stock Your Medicine Cabinet

Just like your food storage, it’s a good idea to make sure you have enough of your daily prescriptions to last you at least a couple weeks, if not an extra month. Again, this is just to be sure that if there were to be shortages on medication, you would be prepared. You may also want to check other medicinal basics such as ibuprofen, cold medicine, and bandages. As for wearing masks, they really do nothing to protect you, but do more to protect those around you if you end up getting sick.

Work From Home

If you’re able, working from home is an important way you can quarantine yourself from others and still provide for your family. Many businesses are beginning to allow this, especially where the virus is most prevalent or you would normally have to travel. Because of this, it’s a good idea to make sure your home office is stocked with all of the things you need for work such as printer paper, ink, and other office supplies.

Stay Home If Sick

The absolute best way to stop the spread of the virus is to keep yourself away from others if you’re showing any symptoms. Symptoms of the coronavirus include a fever, shortness of breath, cough, or weakness/fatigue. Whether it does end up being the virus or simply the normal flu, it’s better to be safe than sorry and just stay home.

Share and Enjoy !

0Shares
0

Filed Under: Property management

How to Best Reduce Your Rental Property Vacancies

Retrieved from nreionline.com

Rental property vacancies lead to a host of issues for landlords. They result in the rental property not bringing in any income, while it continues to bring in a large array of expenses. Having a vacant rental property for an extended period of time can be incredibly economically devastating. Here are a few tips for reducing the likelihood of vacancies with your rental property. 

Keep Tenants on the Property

When you make tenant satisfaction a priority, you will be more likely to keep tenants on your property long term. This can significantly help to reduce vacancies from occurring. Be proactive with your tenants. Respond quickly to any of their requests and ask them if they intend to renew roughly 90 days before the lease is up. Provide regular maintenance and updates to the property to ensure that they remain satisfied. 

Improve Curb Appeal

First impressions will have a huge impact on whether tenants want to rent your property. Ensure that the landscape is well-maintained. Consider obtaining a new paint job for the exterior of your building, as well as upgrading the front door. 

Research the Market

It is vital that you charge rent prices that are consistent with those in your area. Charging too much will inevitably result in losing tenants and having difficulty filling the rental property. Charging too little will make it difficult to offset the expenses associated with owning property. Keep your prices consistent with the average. 

Screen Tenants

When you don’t screen your tenants, it is far more likely that you will end up with a problematic tenant. It can certainly be tempting to skip this process, especially when trying to quickly fill a vacancy. Ultimately, screening your tenants can save you a substantial amount of money and stress over time. 

Vacancies are never easy for landlords. Taking the steps to reduce vacancies can make your processes far easier and more profitable. To learn more about reducing possible vacancies, contact our expert team at the Keyrenter in East Bay today!

Share and Enjoy !

0Shares
0

Filed Under: Property management

How to Find the Right Rental Property for You

Investing in rental property has been shown to be a relatively safe and beneficial investment. If you are considering investing in a rental property, there are several things that you will need to consider in order to find the right rental property to meet all of your needs. Here are some steps that you can take to help find the right rental property for you. Ultimately, the most important thing when it comes to purchasing a rental property is the location of the property. 

Distance

It is important to consider what the ideal distance is for your rental property. There are advantages to either having a nearby rental property or one that is further away. When your rental property is nearby, you will be able to more easily check on it. However, it will also make you more vulnerable to possible economic downfall, as all of your eggs will essentially be in one basket. A rental property in a different location can provide you with a reason to visit an area or protect you from possible problems. 

Property Value

Look at the average property value in the area you are considering obtaining property in. Decide on your budget and the value of the property that you desire. This will also help you to determine rent and see what profits you may make from the property.  

Average Income and Employment Rate

When you wish to purchase a rental property, it is important to determine the average income and employment rate in the area. This will help you to make a more secure investment in an area where you will be more likely to receive regular rent payments. 

Crime Rates

No one wants to spend money on a rental property in an area with high crime rates. This is simply because no one wants to live in these areas. It is important to check the crime rates in the area before making such a substantial investment. 

Consider your GoalsWhen you purchase a rental property, you should think about what you wish to gain from the rental property. This is largely whether you want cash flow or appreciation value. Cash flow will result in the property being immediately profitable. Appreciation value means that your profits will come primarily from the home becoming more valuable over time. Choosing a rental property is a huge investment, so it is important to do your research prior to making the decision. To learn more about choosing the right rental property for your needs, contact us at the Keyrenter in East Bay!

Share and Enjoy !

0Shares
0

Filed Under: Property management

How to Find The Right Tenants For Your Rental Properties

Poor-quality tenants can lead to evictions becoming necessary. These processes are incredibly expensive and often result in vacancies. Finding the right tenant for your rental property may seem like a time-consuming process, but it is still an important part of managing a rental property. Screening your tenants effectively is incredibly important to reduce the likelihood of evictions and protect your investment.

Require an Application

Every possible tenant should fill out an application and you should never make exceptions to this rule. This will both help you to gather the required information, as well as have proof of the information the tenant originally provided for you. Online applications may be implemented to simplify the application process.

Background Checks and Credit Checks

Always perform both a background check and credit check on possible tenants. This will ensure that you are aware of past evictions, possible debt that your applicant may have, and other issues from their history. Familiarize yourself with Fair Housing Laws to ensure that you don’t deny an applicant for a reason that violates these laws.

Contact References

Contact the applicant’s employer and previous landlord. The landlord will be able to provide you with information regarding the applicant’s conduct, condition of the rental property, and more. Their employer will be able to verify that they are currently employed by them. Be very wary if you discover any discrepancies when you verify the relevant information.

Create Guidelines

Write specific guidelines for criteria that applicants must have. Ensure that all of your employees are trained regarding your criteria. Never make exceptions for your criteria, as this can create legal complications in the future. Guidelines are important in preventing possible lawsuits and ensuring that you can prove precisely why an applicant was denied.
At Keyrenter, we understand the importance of using a screening process to find good tenants for your rental property. For this reason, we employ a 13-point screening process. To obtain more information about the steps to take to find the right tenant for your rental property, contact our experts at the Keyrenter in East Bay today!

Share and Enjoy !

0Shares
0

Filed Under: Property management

How to Upgrade Your Rental Property on a Budget

The more value your rental property has, the more you can potentially charge in rent. It can be difficult to know how to improve your home, especially when you are on a tight budget. However, upgrading your rental property might be simpler than you think, as many small steps can help to improve the value of your property. 

Clean

Cleaning is vital to keep a home in good condition. In addition to keeping in good condition, it will also create a standard for tenants to live up to. Carpet cleaning and power washing can go a long way toward upgrading your rental property at minimal expense. 

Maintenance and Repairs

Regular maintenance can help to prevent issues from occurring on your property. Additionally, making repairs as soon as they arise can prevent these problems from escalating to far more expensive proportions. Make sure gutters and drains remain clear of debris. Maintain HVAC systems, water heaters, and other aspects of the building to keep them in good condition for as long as possible. You should also obtain regular inspections to catch any potential issues. 

Choose Where to Upgrade

When you invest money in upgrading your rental property, it will be important to choose the most effective areas to upgrade. Upgrades to the kitchen are generally the most cost-effective improvements to make to rental properties, as they have a high ROI. Upgrading light fixtures can completely change the atmosphere inside your home. A new coat of paint is a great, cost-effective method for raising the value of a property. 

When you’re on a budget, it is likely that upgrading your rental property is the last thing on your mind. However, implementing these upgrades can help to improve your profit margins and increase the success of your business. To learn more about effective upgrades to make to your rental property, contact us at the Keyrenter in East Bay today!

Share and Enjoy !

0Shares
0

Filed Under: Property management

  • 1
  • 2
  • 3
  • 4
  • Next Page »
East Bay Property Mangement Experts

East Bay property management experts. Focusing on maximizing your profits and maintaining your rental property with our award winning services.

Keyrenter East Bay, License # 02007524

Quick Links

  • Pricing
  • Property Management
  • Blog
  • Contact Us
Search Keyrenter
Nationwide

Contact Us

  • Map Icon1935A Addison St. Berkeley, CA 94704
  • Phone Icon(510) 833-6000
Copyright @ 2021 Key IP, LLC. All Rights Reserved | Privacy Policy | Accessibility Statement