San Diego City Council Votes to Limit Vacation Rentals

By GoldenWest Management

Thanks to the outcry of renters in the San Diego area who have been hit hard by the housing shortage the San Diego City Council has voted to outlaw vacation rentals in secondary homes while limiting short-term stays to just the homeowners primary home only.

This move will certainly hit investment activity in the short-term rental market hard while making it harder for anyone who lives out of town to own short-term rental property in the San Diego area.

 

11,000 Short Term Rentals Could Be Affected

The news of the City Council’s vote spread fast and of course there were mixed reactions from people who support Airbnb style rentals in the San Diego area and those who oppose them.

On the positive side, the City Councils move may turn thousands of Airbnb vacation rentals in the San Diego area into long-term rentals.

Thanks to a recent article from the San Diego Union-Tribune we know that there are an estimated 11,000 vacation rentals in San Diego right now so having more inventory for renters to choose from will definitely make a big difference during the housing crisis.

Although more long-term rental housing is a good thing, many advocates of short-term rentals, including Airbnb itself, have voiced their opinion on how the city councils move is an “affront” to hardworking taxpayers who own Airbnb’s and it may force travelers to seek alternate vacation stay options

Estate Agent Showing Empty Office Space To Clients

Support from San Diego Residents

After word of the San Diego City Councils vote spread, the support was almost unanimous among residents and community advocates who have been fighting short-term rentals for years, especially in the beach communities where 40% of the rental inventory in cities like Mission Beach have been vacation rentals. – Source – San Diego Union Tribune

Short term rentals like Airbnb’s aren’t gone for good, if an owner meets the City of San Diego’s requirements for short-term rentals, they may still keep their rental active but they are also going to have to pay hefty fees.

For example, the city is going to require owners who want to rent their entire home to pay a fee of $949 annually. This is believed to be the highest fee in the United States and it may cause many owners to turn their short-term rentals into long-term rental properties. – Source – San Diego Union Tribune

Get Property Management in San Diego

For affordable property management in the San Diego area contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

Things to Do in San Diego During the Spring

By GoldenWest Management

Are you searching for things to do in the San Diego area during the spring? If so, you’ve come to the right place!

San Diego is an awesome place to live especially during the spring because we don’t have snow on the ground like other states do and the weather is still cool enough to enjoy outdoor activities comfortably.

In this article, we will share with you some of our favorite things to do in SD during the spring so you will know where to go and what to do if you just moved to the area or are searching for new ideas for activities you can enjoy.

Hit the Beaches

Springtime in San Diego is one of the very best times of year to hit the local beaches because you will be able to easily find a parking space since most tourists won’t show up until May or June.

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Go for A Hike

In San Diego, there are a wide variety of hiking trails to choose from. You can find plenty of trails in Balboa Park, Point Loma or at any of the nearby parks and public recreation areas like Lake Murray, Mission Trails, Mount Helix or Cowles Mountain.

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Enjoy the Flowers

Another cool thing you should do in the San Diego area during the spring is enjoying the flowers. One of the best places to go is the Flower Fields in Carlsbad.

Located at 5704 Paseo Del Norte, this place is one of the top destinations for anyone in the San Diego area who loves flowers. Make sure you come here early though because by late April the beautiful flowers will be gone.

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Check Out Local Attractions

Besides the cool things we’ve already mentioned in this article, some of the other destinations you should consider visiting during the spring in San Diego include: Sea World, The San Diego Zoo, Wild Animal Park, Legoland and Petco Park to take in a Padres game!

Get Property Management in San Diego

For property management in San Diego contact Goldenwest Management at (866) 545-5303 or click here to connect with us online.

What’s Happening with The San Diego Rental Market?

By GoldenWest Management

Are you interested in investing in the San Diego Rental Market? If so, you’ve come to the right place!

In this article, we will offer you up to date information regarding what’s happening in the SD Rental Market including accurate data and what we can expect for the rest of the year.

Average Rent

As of March 2018, the average rent for the San Diego rental market is $2,028, this is an increase of 3% compared to the same time last year when the average rent was just $1,963. (Source – Rentcafe.com)

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Rent Breakdown

Anyone who is searching for a rental property in the San Diego area can expect to pay the following rents:

  • Studio Apartment (455 Sq. Ft) – Average: $1,479 per month
  • One-bedroom apartment (671 Sq. Ft) – Average: $1,793 per month
  • Two-bedroom apartment (966 Sq. Ft) – Average: $2,190 per month
  • Three-bedroom apartment (1,294 Sq. Ft) – Average: $2,773 per month

Rent Increases Have Slowed – Slightly

There’s no doubt that rents in the San Diego area have been increasing steadily over the years but since the start of 2018, they have slowed, slightly.

This slowing could be due to more rentals coming to the market like the opening of the new “The Rey” apartment complex in San Diego. This complex has brought close to 500 new rentals to the market.

Located at 801 A Street in San Diego, The Rey apartments with high end designs, luxurious floor plans and lots of amenities. Learn more about this apartment complex by visiting their website at https://www.berkshirecommunities.com.

Slowing rent increases could also relate to the winter months. Either way, industry analysts don’t expect the rent growth slowdown to last for long as San Diego continues to rank among the top cities in the United States for rent growth.

San Diego, California

Most Expensive to Least Expensive Rents

As in years past, the most expensive place to rent in the area are Downtown San Diego (Average – $2,49 per month), North County (Average – $2,126 per month) while the least expensive place to rent in the San Diego area continues to be East County (Average – $1,418 per month).

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Get Property Management Here

For property management in the San Diego area contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online.

Experts Predict San Diego Rents Expected To Continue Rising Through 2018

 

SAN DIEGO, CA. – Thanks to recent statistics from Fox 5, and the USC Casden Multifamily Forecast, we know that rents in San Diego County are predicted to continue increasing through 2018 to at least $1,577 per month, while the average from in Los Angeles County by then is predicted to increase to $1,416 per month.

Supply And Demand Problem

One of the biggest reasons why the San Diego area still continues to suffer rent increases is due to the fact the Southern California has a lack of housing, which will ultimately cause rents here to increase by 10 percent in the next few years, and over 8 percent in the Los Angeles area too.

Sadly, California is actually doing better with building more housing but a large portion of the 38,000 multifamily units that have been built in SoCal within the last 24 months have been higher priced townhomes like those in Downtown San Diego, rather than affordable housing.

A good example of the inventory problem can be found in Chula Vista where just 273 apartments entered the market recently thanks to the new construction of Pulse Millenia, a new apartment complex in the area.

Out of all the areas in San Diego that have been hit hard during this housing crisis, we’re seeing the East County rental market take the heaviest hit, since the area has close to 20,000 apartments but only 204 were available for rent during the month of March.

Average Rent in SD Already $1,618 Per Month

What’s shocking about the recent statistics about rent increases in the San Diego area is that the average rent here is already over $1,600 per month, and the vacancy rate is the lowest that it’s been in five years so it’s likely the average rent in SD will be more than $1,577 per month by 2018.

The good news for property owners is that there’s never been a better time to buy rental properties in San Diego since demand for rentals here is the highest it’s ever been and shows no sign of slowing down for at least another two years.

Good News on the Way For Renters?

Thanks to statistics from MarketPointe we know that rent only increased by 2.79 percent between March 2014 and March 2015 so this could be good news for renters because many analysts are wondering if the reason why rent increases slowed down is because landlords felt that they reached the threshold for what they can ask for rent, or if the average San Diego renter can no longer afford to pay the high cost of living in the area.

Learn More about the San Diego Rental Market

To learn more about the San Diego Rental Market, or to speak with us about property management, contact Goldenwest Property Management today by calling us at (858) 792-3442 or connect with us online.

We can help you get the most out of your San Diego rental property with our effective and professional property management services.

How to Build a Great Relationship with Your San Diego Tenants

One of the keys to success with owning rental property, especially in San Diego, is to have a good relationship with Tenants.

If tenant retention has been a problem for you in the past this article will provide you with seven tips you can use to improve the relationship with your tenants and keep them happy.

#1 – Start Your Relationship Right

From the very beginning you should be focusing on building a great relationship with your tenants. To do this you need to make sure you hand over a “turnkey” property.

  • Have the rental professionally cleaned, including the windows, sills, appliances, and carpets.
  • Don’t let minor repairs ruin a relationship. There may be the little things that you miss, but make sure lights are working, screens, smoke detectors, air filters are in good condition. Do the best to ensure there are no leaks or clogs in the drains.
  • Make sure all keys and remotes work and that if there are any parking passes or community keys/fobs, confirm that these are ready for your Tenant.

#2 – Stay Available To Your Tenants

One of the very best things you can do for all of your tenants is communication. You don’t need to be available 24-7 for everything, but responding within (1) day to most requests is important. Set the tone for the Tenant so they know what to expect. For emergencies, you definitely want to be able to respond within 1-2hrs max.

#3 – Don’t Surprise Your Tenants Unannounced

Remember that you do have to follow the law with your San Diego Tenants and this means that you have to give them an advance notice of at least 24 hours before you arrive to make repairs or inspect your rental property. This is the biggest issue because landlords often feel like they can inspect or even show up whenever. Don’t make this mistake or you can alienate your Tenant. A monthly drive by as well as one interior inspection every 4-6 months is about the most you can do.

#4 – Be Consistent

The rent is due on the first and is late on the 4th (or the 6th depending on your lease). Stick to your late fees and start the eviction process if rent is not received by the 6th. Do not bend for the sob story or you this behavior of not paying on time will continue. I have waived late fees in the past on a “one time” occurrence. But once we post the notice to pay or quit, that train doesn’t stop, no matter what, until the Tenant pays in full. Whatever you do, do not accept partial payment, you lose your leverage in eviction court if you do this. People scoff and say “that’s not reasonable” but when you have been doing this for as long as we have, you will realize that being consistent with rent and repairs is the most important thing you can do as a Landlord.

#5 – Resolve Problems Fast

If you own rental property in San Diego you should always resolve problems with tenants with the most reasonable solution. Don’t be so content to stick to the letter of the law, because the court doesn’t always give you that luxury. Be prepared to compromise on everything but the rent. If it’s a reasonable solution, than agree in writing and move forward. If the Tenant is a pest, then at lease renewal, they will be asked to move on…it’s a two way street, not always your way or the highway.

#6 – Reward Your Tenants

Last of all, but most important, don’t hesitate to reward your tenants if they pay their rent on time, or keep their rentals spotless, or do things to upgrade the home. Just paying the rent on time is not enough to make someone a good Tenant. We have many rude and vulgar Tenants who pay the rent on time and demand your home be perfect at all times at your expense. That’s not a good Tenant…

Remember it’s a relationship. For those Tenants who take care of your home and with whom you have a good working relationship, do not hesitate to give back. A yearly repair spree where you send in a handyman to make upgrades and improvements is a great thing. Professional carpet or house clean at no charge is another great reward. In addition, don’t be in such a hurry to raise the rent, or if you have to raise make only minimal increases. This is a relationship that needs to be a win-win for both sides.

Get Professional Help…Hire a Property Manager

For more information on easy things you can do to build the relationship with your San Diego Tenants, or to speak with us about San Diego Property Management, contact Goldenwest Management, Inc today by calling us at (858) 792-3442 or click here.

GoldenWest Management Holiday Hours: Christmas and New Year’s Day

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Photo Credit: Sangudo via Compfight cc

As we approach Christmas Eve and New Year’s Eve, we would like to wish all of our property owners and tenants a joyous and safe holiday.  Please note that if you do run into an issue with your property, you can use the traditional channels for requesting a repair.  Our offices in San Diego, Phoenix, and Las Vegas will remain open all week except for Christmas Day (12/25) and New Year’s Day (1/1).  Thank you for your patronage, and we hope these holidays find you well!

Happy Thanksgiving from Goldenwest Management

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Photo Credit: Happy Thanksgiving via Fab Housewife

Tomorrow, Thursday, November 27th, 2014, we celebrate Thanksgiving.  Thanksgiving is a time for reflection, family, and gratitude for the many blessings we have as Americans.  We will not forget all of the sacrifice required to bring the many freedoms and privileges we enjoy today.

As a property management company, we are very thankful to be able to serve our landlord and tenant customers in the Phoenix, San Diego, and Las Vegas areas.  Thank you for your loyalty and patronage.  We look forward to a peaceful and happy holiday season.  Please let us know if there is anything we can do to serve you better.

Please note that in observance of Thanksgiving, our offices will be closed Thursday and Friday.

Happy Birthday Marine Corps and Happy Veteran’s Day

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We want to take this moment to say “Happy Birthday” to the United States Marine Corps. Today, they turn 239 years old.

Tomorrow is Veteran’s day.  The Goldenwest Management offices will be closed in observance of this day and out of respect for all those who have ever put on a uniform in defense of this great nation. Whether it be a fellow employee, a loved one, a sister/brother, parent or grandparent, we want to say thank you to you and your family.

Many gave some, some gave all.

MSF Charity Golf Event

msfcharitygolfevent2014Today’s the day! The Mountain Shadows Foundation 22nd Annual Fall Classic Golf Tournament begins today at the Santa Luz Club with a putting contest at 9:30 am followed by a shotgun start scramble at 11:00 am.  The GoldenWest Management team will have a presence on the 14th tee to cheer golfers on and raise money for the foundation.  As described in a previous post, we will be posting pictures from the event to our social media accounts.  However, we have modified the hashtag to ‘#msfcharitygolf’ in case you’d like to check out the action throughout the day.

Again, thank you all for your support, and here’s the link to our Fundrazr campaign if you’d like to donate to the charity.

 

Mountain Shadows Foundation: Raising Awareness (and Money) for a Great Cause

Mountain Shadows Foundation LogoAt Goldenwest Management, we pride ourselves on running a values-based property management service.  Two of the values of GWM are community and charity.  We believe in helping to make our communities stronger, and to support our favorite charities on a regular basis.  Our upcoming charity event, The Mountain Shadows Foundation annual “Fall Classic Golf Tournament” is the perfect event to put both of these values in action.  Held at the Santaluz Club in San Diego, this tournament supports the Mountain Shadows Support Group of San Diego County.  The mission of this group is best described in the statement below taken from the MSF website. Continue reading “Mountain Shadows Foundation: Raising Awareness (and Money) for a Great Cause”