Today’s topic is the state of the Contra Costa county rental market. I thought it would be helpful for any property owners or potential investors to get a brief summary about how things are looking in this area right now.
I am happy to say that the state of the rental market is extremely healthy and strong. The Contra Costa county market comprises several communities and cities, which are very diverse. Each of those communities and neighborhoods seem to have their own little micro rental economies. That means that in this area, both tenants and property owners have a lot of options when it comes to choosing what they want to buy and where they want to live.
For example, here in Pleasant Hill, we see any and all rental properties go very quickly. That’s because there is a high demand for housing in this area and a short supply of rental properties. When we have a rental in Pleasant Hill, we use our strategic marketing and advertising strategies to get these places the exposure they need and we make sure the properties are in great shape and attractive to potential renters. Once they are on the market, it doesn’t take long to rent them. We can usually find a qualified tenant in a matter of days.
In places such as Pittsburg or Antioch, properties also move quickly once they hit the rental market. However, there are more properties available for rent, so it takes a few weeks instead of a few days to get them occupied. While the rentals are still in demand, tenants in these neighborhoods find they have a lot more to choose from. We use the same aggressive marketing and preparation as we do in Pleasant Hill, and once we get those properties on the market, we find there is a strong pool of applicants to choose from.
The properties we are leasing and managing in the Contra Costa area are doing well, which is good news for the rental market. If you have any questions or you’d like more information on what to expect from the market in 2014, please contact us at Stokley Properties.