Rental Basics in 92109>Question Details

Supersalesgal, Home Owner in San Diego, CA

What is the best month to put your condo on the rental market in San Diego? The worst month?

Asked by Supersalesgal, San Diego, CA Sun May 27, 2012

One year tenant ends in June 30. Wants to extend on a month-tomonth so she can look to buy. Is it safe to try and rent on Oct 1 or should I end her lease and rent it out on July 1?

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Neil Fjellestad’s answer
Insist on either a one year renewal or perhaps a bit shorter; maybe 9 months. A month-to-month rental agreement should normally include a premium to the rental rate for your additional risk of rent loss. This is usually about a 10% increase. In other words if market rent is $1500 then for a month-to-month term at renewal you should be charging $1650. To the renter these terms are an additional cost of purchase that perhaps she has not considered. It is not being done to make her life harder but of course you as the rental owner should not be unnecessarily expected to bare the financial brunt of her possible purchase. Neil
0 votes Thank Flag Link Sun May 27, 2012
This is a good question and some valuable information below.

As a landlord myself I would not agree to extend on a month to month basis after June 30th. The reason is that the summer months are always better to find a renter that may be willing to pay market value while the cooler months are the opposite.

Let me eloborate. I you have a rental agreement expiring in June.......you may need 2-4 weeks to clean and find the next renter. This means your next 1 yr lease may end July 30th the following year.....and Aug 31st the next etc etc. Next thing you know you are trying to rent your property in the dead months of NOV / Dec/ Jan/ Feb when demand may be lower and folks want to negotiate on price and it may be more difficult to find a tenant.

The above is just my 2 cents ........ with vacancy rates so low in SD this should not be such a huge problem right now.....but more of a factor as the market returns to normal.

good luck.
0 votes Thank Flag Link Fri Jun 8, 2012
Rental prices are typically higher in the summer time. Most people try to move, rent, sell..etc when school is not in session. You'll probably get a higher rent price before Sept. November and December... are usually lower rent rates. This is probably a good time to sell as well. With mortgage rates being pretty low their are more buyers out in the market and shortage of properties.

For a free property search: http://www.realtoraprilnguyen.com

April N
REALTOR®
HUD, SS, REO

858 859 0423
0 votes Thank Flag Link Thu Jun 7, 2012
Sept is a strong rental month, as you get into October and beyond the rental market cools off quite a bit.

If your tenant is not working with an agent we would be happy to work with them and we could closely manage the home search/purchase to best coincide with your rental term. Also we would offer you a free IPAD if they purchase a home using us as their buyer's agent.

What area is the property located as we often have renters seeking properties and we could refer them to you when the property is ready to turn over.

We have lots of satisfied customers throughout San Diego.


Best Regards


Jay S. Becker, PRINCIPAL / SR. REALTOR - 21 years licensed

Lux-RE Homes - a Full Service Real Estate Brokerage

direct: 858-335-4235
office: 858-222-4321 ext. 7

toll free: 888-589-7346 - (888-LUXREHOMES)
fax: 855-589-7346 - (855-LUXREHOMES)
email: Jay@OWN-SD.com
http://www.OWN-SD.com
0 votes Thank Flag Link Sat Jun 2, 2012
You will find more renters in the summer months. Avoid renters moving out at the end of the year because you may have trouble finding a renter in Nov or Dec and end up with a vacancy for a full month or two.
To protect your interest I would end the lease and rent in July.
0 votes Thank Flag Link Sat Jun 2, 2012
Best Months March- May and August for September move ins.
0 votes Thank Flag Link Sat Jun 2, 2012
Good for you for having a responsible tenant! Allow her the month-to-month, but raise the rent a little. You have two choices, as soon as she gives notice, advertise the property for rent, which puts your property on the market when she's ready for it to be. Or, give her proper notice and try to find a tenant who'll sign a lease.

The rental market is pretty strong right now, so you shouldn't have too much of a problem putting your home on the market any time, except or the holidays.

And, what if your tenant finds a property before October 1st?

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
619-825-6421
0 votes Thank Flag Link Mon May 28, 2012
Supersalesgal,

The most important aspect of this is:

Do you want to keep your tenant? If you are happy with your tenant, I would rent it month to month. If you are not, time to give them the notice and look for your next tenant. This time of the year we see a lot of rentals in San Diego because of the summer tourists, you may be able to have summer rentals at a higher price and then rent it once the summer season ends.

If your tenant is not already working with a Realtor, i would love it if you can refer me to them. I do not advertise and 100% of my business is based on referrals, thanks in advance,

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 May 27, 2012
Fortunately the rental market is extremely strong in most areas of San Diego. The spring and summer months are usually stronger, but we help many landlords find tenants 12 months a year.

If you'd like to see what other properties are listing for just go to our rental site called, http://www.RentingInSanDiego.com which is updated every day.

Thanks and good luck,

David Stone
Greater Good Realty
619-206-1551 cell
http://www.GreaterGoodRealty.com
CA DRE#01888818
0 votes Thank Flag Link Sun May 27, 2012
Typically, the best months are June,July and August as they are the summer vacation months and the other 9 months from September to May are considered Student or Executive Housing. There are other factors that renters take in consideration where your property is located in Pacific Beach as far as proximity to the beach or bay. I hope this helps and good luck with your decision.

Thanks,

David R. Indermill
Re/Max HALL OF FAME
Re/Max Associates La Jolla
Dre#01232827
Cell 858-414-5478
http://www.SanDiegoHomeStore.Com
0 votes Thank Flag Link Sun May 27, 2012
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