The San Diego coast sells itself to prospective rental tenants. The climate is comfortable year-round, the coastline is home to several beautiful beaches, and the culture and local economy are booming.
Nevertheless, San Diego landowners and property managers always face an uphill battle in finding and retaining long-term tenants for residential rentals. Once they do, however, they can find consistent income and maintain low vacancy rates.
Here are some ideas on property management in San Diego and how to find reliable, long-term tenants for beachfront living.
Make Your Property Suitable for Long-Term Rental
Some rental property owners in San Diego, especially those with short-term rental units, offer fully furnished properties with plenty of amenities. In addition to baseline appliances like stoves and refrigerators, they may have microwaves and other kitchen appliances. They might offer couches, beds, and other furniture to entice tenants.
Most long-term rental property managers, however, offer basic appliances and no furniture to prospective tenants who likely don’t expect a lot of “extras.” Whatever the situation, you can make your property attract more interest with a few steps.
Unfurnished properties should have neutral interiors that are easy for tenants to furnish themselves. Use a muted, basic paint color for walls, maintain your flooring, and use natural lighting to make the space more inviting. Offer ample storage room and layouts that support personalized arrangements.
If you do offer more than the basic appliances, make sure they’re in optimal working condition. You may consider upgrading these fixtures so they meet energy efficiency standards, which could lower tenants’ utility bills.
Keep Your Rental Price and Lease Terms Competitive
San Diego’s rental market is very competitive. Although you want to set rental rates that turn a profit, you also want to price it at levels that will invite a bigger pool of potential tenants. With affordable rental rates, tenants are more likely to agree to long-term leases, which keep vacancy rates low.
Take note of the going rates for San Diego coastal units similar to yours. Find a rate that’s either in line with other properties or slightly discounted. If you prefer to issue a lease agreement, offer flexible terms to encourage longer occupancies. Consider a 12-month lease with options for renewal or other terms that may appeal to tenants looking for stability.
Emphasize the Location
San Diego rental property managers don’t have to do much to sell locals on the location. But what about prospective tenants from out of town, like pending or current retirees looking for more comfortable places to live?
When marketing your property, always make sure to mention what’s great about living in San Diego. Highlight local shopping centers, school quality, public transit options, and medical facilities close to your property.
San Diego also has a diverse and unique cultural and entertainment profile, and it’s always worth it to extol the city’s virtues to locals and strangers alike.
Use Effective Marketing Strategies
Online platforms like Zillow, Avail, Apartments.com, and others have made property management in San Diego much easier. When listing your unit on one (or multiple) sites, use high-quality visuals and well-written text to depict your property in its best light. Virtual tours of homes are especially effective.
You might also think about highlighting terms of the rental agreement that favor tenants. For example, consider offering rental discounts for those who agree to extended leases.
Establish Good Tenant Relationships
Finally, it’s very important to maintain healthy and positive relationships with the tenants you currently have. Few marketing methods are as powerful as word of mouth, and the better your reputation, the more eager tenants will be to approach you.
Think about going above and beyond in your relationships with tenants. If you own a multi-unit rental property, organize events or meetings to foster a sense of community and belonging among your tenants. Always be alert to any needs your tenant base may have.
Optimize Long-Term Property Management in San Diego
Whether you own a beach house, a condominium, or a multi-family apartment complex near the coastline, San Diego’s fundamental virtues are the biggest advertisements for attracting new residents. With added attention to factors that pertain to your specific property, you’ll find tenants likely to stick around for the long haul.