Wondering what you should know before investing in a Santa Clarita property? Here are our best tips, from location to liability.
Residential real estate prices in Santa Clarita are continuing to reach record levels.
In May, the median price for a home in Santa Clarita hit $795,000, a record high for our community. Though prices are hitting new highs, interest rates remain at record lows, and inventory continues to be tight.
The result is a local real estate market that’s dramatically taking off and staying strong.
That’s why, right now, all signs are pointing to residential real estate as a smart, lucrative and lasting investment for Santa Clarita families.
If you are in the market, however, there are a few things to look for as you consider a purchase or sale in one of the most competitive markets we’ve seen in decades.
Location, Location, Location
It’s a cliche for a reason. The community surrounding your property plays a crucial role in its short- and long-term value as an investment. If you have a good understanding of the surrounding area, then you know how best to use the property.
For example, if you invest in a 3-bedroom home in Saugus, then it’s smart to look for young families who care about neighborhood safety and the quality of their local school districts. If you invest in a 3-bedroom condo in Valencia, however, you might want to target college students who are moving out of the dorms at California Institute of the Arts.
SCREM offers more than 30 years of experience with residential property management in the Santa Clarita Valley and throughout Southern California, which means our team is a wealth of valuable information and resources at your fingertips. We can tell you what you need to know about every local neighborhood – so you can make the most of your investment.
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Price It Perfectly
Once you have a nuanced understanding of the location and how to get the best use out of your property, it’s time to price it perfectly. To ensure the biggest benefit from your investment, you’ll want to find the financial sweet spot when you purchase it, as well as when you rent it out. That requires some insight.
“Are you aware of rent prices in the surrounding area? Are there any rules or regulations that could affect your ability to turn your investment into a profitable one?” explained SCREM CEO and President Steffanie Stelnick, who is also a licensed real estate broker and attorney in Santa Clarita. “This is another area where SCREM can help. In addition to a significant portfolio of local and regional properties, we offer management experience that can guide you on where to look, when to act and how to best finance your investment, as well as the laundry list of potential concerns you might have.
Policies, Regulations & Taxes
For the first time in decades, property tax laws in California changed after the November 2020 election, which made major changes to eviction laws and more. Those laws and regulations can change based on zoning and district lines.
For example, the recent pandemic-related policies concerning rental properties and evictions may have been different whether you lived in the City of Santa Clarita or part of unincorporated County of Los Angeles.
If you don’t understand these policies, even the slightest differences from area to area could have a huge impact on the value of your investment.
Insurance & Liabilities
As any property owner or landlord knows, the insurance requirements and liabilities involved with owning a home – and especially renting out a home – are complex and significant.
“Los Angeles County and California have complicated laws that can create expensive challenges and problems for a property owner,” Steffanie explained. “Experienced guidance can not only help you with your purchase, but we can also help you manage the property, as well, once you’ve decided to buy.”
How We Can Help
“We are committed to the success of our property owners. That’s why we offer a wide range of services and programs to ensure you gain the support you need,” explained Todd Stelnick, Vice President of SCREM. “We would be more than happy to discuss with you how we can meet your needs as a property owner.”
Contact us today to learn how we can help you.
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.
If you are interested in renting your property or are seeking a rental in Southern California, contact SCREM today. As part of our full management program we can assist with repair coordination including scheduling maintenance with tenants and handling after-hour emergency calls. Get started today by calling (661) 255-7600 or fill out our online contact form.