||# of Agencies
|Single House or Condo
|Home Owners Association
|Total Local Companies
San Fernando, CA Rental Market Overview
Great Single-Home Values Still Available in The Valley
As with many California coastal cities, the improving economy in Los Angeles spurs recent rental property investments, but the peak interest remains close to the downtown regions or coastal spots like Venice and Marina Del Rey. Bargain hunters who examine the properties along the outlying regions in the north, places like Glendale, Hidden Hills and Calabasas will find affordable rental options along with homes either in or close to foreclosures.Â That's the benefit and drawback of investing in San Fernando Valley rental properties: Small and independent investors can find excellent entry points but property owners need to smartly market their holdings to attract the best tenants.
Watch Out for Increasing Vacancies
The 2013 Marcus & Millichap National Apartment Report (NAR) ranked Los Angeles tenth in their index of the 44 top rental markets in the United States, noting that LA employers kept pace with the national employment average. This year new apartment construction neared 5,000 units, the most completed in half a decade. The NAR suggested that a surplus of apartment units will bounce the Los Angeles vacancy rate up for the first time since the recession, estimating that around 3.7% of the rental units in the area will be vacant. It's likely that rental property owners in the San Fernando Valley and other places further removed from the Los Angeles metro area may encounter higher vacancy rate percentages, but that doesn't mean that you will be tied down with vacant assets. San Fernando Valley property managers understand your market and can help you formulate practical strategies for attracting good tenants. Whether it's improved marketing or the addition of affordable amenities, these property management companies can share suggestions and offer services that can help you fill any empty units. Review our list of property management profiles in and around the San Fernando Valley, then request your free information today.