Santa Clarita Rental Market Update: No better time to own rental property in the Santa Clarita Valley and throughout California.
There’s been a lot of talk about what’s going on in the real estate market.
When will the Federal Reserve raise interest rates?
What’s going on with inflation?
Is the market going to come down?
Yes, there are many variables affecting the market right now. But when it comes to the real estate market, we know one thing for sure.
“All I can tell you is the rental market is hot, hot, hot,” explained Steffanie Stelnick, CEO and President of SCREM. “There’s never been a better time to own a rental property.”
The Santa Clarita Rental Market In 2022
Many homeowners are anticipating prices to flatten or correct this year, while the Federal Reserve is discussing interest rate hikes in 2022. That means many homeowners are taking advantage of this market by selling.
However, not all homeowners who are selling are also buying. On the contrary, many are waiting to buy their next property, hoping home prices will come down.
“These sellers want to capitalize on their equity, but they’re not ready to buy again. So they’re sitting on all that equity, and they’re coming straight to us at Southern California Real Estate Management Inc. (SCREM) – eating up all the rental property,” Steffanie explained.
“They’re signing leases for a year or two because they don’t know what they want to do next. Whether they move out of state, up state or stay put, they just don’t know yet.”
The Right Time For Rental Property Owners
What does all this mean? Above all, property owners can take comfort in knowing the rental market is not slowing down anytime soon.
Here are three reasons why it’s an amazing time to be a rental property owner – and an even better time to expand your portfolio.
1. Low Inventory
With so much selling activity in the market, rental properties are in high demand and moving quickly. For example, SCREM had 10 properties listed in December, and they were all gone within two weeks.
“Despite low inventory in the market, we’ve been growing our portfolio at SCREM. We have more than 700 properties under management, and we have the capacity to manage more,” Steffanie explained.
2. High Rent Prices
This kind of demand often has an impact on pricing, too. Many of our owners’ rents are the highest they’ve ever been – and it keeps going up.
“If you want to try a rental rate that might seem like it’s on the high end, we have no problem trying that with you,” Steffanie explained. “We can tell you what the rent is going for, but like you’re seeing in the housing market, it’s all negotiable.”
3. The Right Team On Your Side
Having the right team to help you navigate this market can really make the difference. Whether you’re looking for your first rental property or expanding a healthy portfolio, we are here for you. We have experience handling this kind of market from every end – the buyer’s, the seller’s and the tenant’s.
“If you’ve ever wanted to add another property to your portfolio, this is the time to take action. Do not be afraid to rent your property or invest in additional rental properties right now,” Steffanie said.
“If you’ve been holding off because of the eviction moratorium, we’ve navigated that. We know all the answers when those situations come around. We can help you discuss your fears, desires, and your need for profits. We’re here to help you figure out how to manage your profits in a way that makes sense to you and your goals.”
How We Can Help
We have a network of top-of-the-line properties and expert professionals that extends throughout the state of California, in addition to 30+ years of property management experience in the Santa Clarita Valley. Our team can help you find the perfect rental home and walk you through a seamless application and move-in process.
“It’s important to understand that our team can help with all aspects of the rental process in Santa Clarita and throughout Southern California,” Steffanie said. “Give us a call, and we’re happy to answer any of your questions.”
About Southern California Real Estate Management Inc.
Southern California Real Estate Management Inc. was founded in 1987 and has grown to become the largest property management company of individually-owned single-family homes and condominiums in the Santa Clarita Valley. Our locally owned and operated company currently manages 700+ homes in Southern California. We specialize entirely in residential property management. Our only business is the leasing and management of homes and condominiums, and in 2019, we successfully processed more than 840 rental applications and collected nearly $20.5 million in rent.