How much is the excess inventory of empty homes negatively affecting rent prices in Windemere?

Asked by Jonathan, San Ramon, CA Sun Jun 29, 2008

If I chose to rent out my 3,200 sq ft home, about how much is market rent?

Is it best to rent by owner or use a management company?

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Joanne Liotta, Agent, Danville, CA
Mon Jun 30, 2008
I just ran a search on the MLS for lease properties that are either active of sold (already leased). One is currently for lease at $3700, it is 3548sf. There are 5 properties that have leased since 3/1/08, 4 at approx. $1.04 a square foot and 1 at $1.20 a square foot. If you want realtor assistance in getting your property listed for lease on the MLS please contact me , Joanne Liotta, at 925-785-1586.
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Carolyn Davi…, Agent, Danville, VA
Mon Jun 30, 2008
I don't think the rents have gone down at all. There is heavy competition for rentals as all the people who are in default are now renting. If you rent by owner- call references, check credit, see if you can see how they live now by doing a drive by or checking their home. If you use a management company they take care of all that. Perchak Properties in Alamo has been around for ever and does a good job. They would have to pull rents for you based on condition and upgrades of the house. $3,000- $3,500 a month is what I've been seeing.
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Steven Ornel…, Agent, Fremont, CA
Sun Jun 29, 2008
Hi Jonathan,

There's actually an interesting twist to all the foreclosures that have been happening. Namely, the rental market has heated up due to new demand by those displaced. The assumption of a negative effect may not be correct. I like using Craigslist as a rough barometer for a rental market. I only found one listing in Windemere [5bed/4.5bath/3700sf/$4000]

The decision to rent by owner or use a management company is personal choice best made by reflecting on your experience and available time to manage.

Best Regards,

Steven A. Ornellas, GRI, ABR, e-PRO, CMPS, RE Masters, MBA
REALTOR® / Mortgage Banker-Broker / Certified Mortgage Planning Specialist

Steven Anthony Real Estate & Financial Services
Expect Excellence. Get What You Expect.â„¢
Cell: 510.461.6011
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