Rental Basics in San Diego>Question Details

Julie, Home Owner in San Diego, CA

We are buying a condo in San Diego, CA. We intend on renting it out weekly and/or monthly. How can I find out rental occupancy rates in that area?

Asked by Julie, San Diego, CA Sat Jun 16, 2012

Help the community by answering this question:

Answers

9
Julianne Pulido’s answer
Hi Julie-

With your location I would consider a combo approach. I have many owners who vacation rental in the peak season(June-Sept) and college rental for the school year. It is a way to ensure your property is always providing an income.*client screening is most important

Julianne Pulido
(619) 942-2712
Pacifica Properties
Pacifica Vacation Rentals
2075 Morena Blvd.
San Diego, CA 92110
http://www.pacificavacationrentalssd.com
DRE License #01891099
"Experience is not what happens to you; it is what you do with what happens to you."
~ Aldous Huxley
0 votes Thank Flag Link Tue Jun 19, 2012
Hi Julie,
I manage some seafront vacation and non-vacation rentals and would love to help you out. Feel free to message me directly with what you are looking for and we can run some scenarios.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate & Property Management
858-205-5215
brokermcallister@gmail.com
0 votes Thank Flag Link Mon Jun 18, 2012
It is a vacation rental. Thanks for any help!
0 votes Thank Flag Link Mon Jun 18, 2012
Hi Julie,

Instead of focusing on occupancy rates, focus on researching your market, so you're familiar with market rents. Then like any product or service, price it so other people will be attracted to your unit. As a rental, make it the best unit in the price range, and your unit will likely stay rented.

Weekly rentals will fall into the category of vacation rentals, so that would be a different market completely.

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
619-825-6421
0 votes Thank Flag Link Mon Jun 18, 2012
Hi Julie,
Feel free to contact me directly if you want the rental rundown in that area. All areas are pretty hot right now, rental demand is way up.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate & Property Management
858-205-5215
brokermcallister@gmail.com
0 votes Thank Flag Link Sun Jun 17, 2012
Julie,

I would not necessarily worry about the occupancy rates, if your condo is rented at a reasonable price it will be rented. We have great weather all year long and San Diego is a lovely place to visit (and stay). Greed is what gets landlords into vacancies. Looks like you just bought a book on renting. My tips are the following:
1. Hire a REALTOR. We are invaluable & Free. Don't try to find the deals yourself, you will waste a lot of time and gas.
2. Get a good price. Use your REALTOR's advice, its invaluable & Free
3. Furnish it. You will get more bang for your buck, but don't buy expensive things.
4. Market it with a REALTOR. You get so much more exposure when its listed with us.
5. Price it right. This is the key, you have competition.

Hope this helps,

Hector R. Gastelum
Realty Executives Dillon
REALTOR #01382940
hectorgastelum@yahoo.com
619-954-2225
125*142*10754
efax 619-270-2516
0 votes Thank Flag Link Sun Jun 17, 2012
We are purchasing along "sail bay" in Mission Bay. It will be a bay front condo. We will be paying all cash for the unit. We want to recoup our property taxes and HOA fees, via rental income. We will only purchase one where the HOA (via CC&Rs) allows rentals of 30 days or less. Some buildings only allow rentals for a minimum of 6 months (for example), and we will not consider those buildings. Thank you for any help!
0 votes Thank Flag Link Sat Jun 16, 2012
Great, your looking at a great investment, not only in rental income but also appreciation when home values go up:)! If you have further questions, contact me, good luck to you!
Flag Sat Jun 16, 2012
Hi Julie,

What part of San Diego are you buying in? That is very important,in the beach areas,you can make huge rental income. There is some areas that are restrictive on allowing to rent out, also depends if you’re paying all cash or conventional loan.VA and FHA loans require a mandatory owner occupancy,short term and long term.Then you can rent out your unit. Contact me if you need information or assistance, I work with investors who make great profits with me.


Michael Alex
REAL ESTATE CONSULTANT
cell. 619.581.9348 | fax. 619.521.0100
email. AskMichaelAlex@prusd.com
2365 Northside Dr Suite #200
San Diego, CA 92108
Prudential California Realty
0 votes Thank Flag Link Sat Jun 16, 2012
Hi Julie,

I'd like to offer you a word of caution; some HOA's (via the CC&Rs) don't allow short term rentals. I know of one that specifically doesn't allow rentals of less than 30 days. Please research your condo's CC&R's (as well as the Rules and Regulations if they have them) to be sure you won't be restricted from certain types of rentals.

Good luck!

Adam Mallory, Broker
0 votes Thank Flag Link Sat Jun 16, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer