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How to Decide if You Should Rent or Sell Your Home | Redwood City Property Management

gibsonportfolio.social@gmail.com (Gibson Portfolio) — Fri, 15 Jan 2021 21:02:03 GMT

If you’re trying to decide whether it’s better to sell or rent your Redwood City property, the indecision is understandable. There are benefits and risks to each scenario. We work with owners who are moving out of state for work or personal reasons, or they’re buying a new home that better fits their lifestyle, and they’re not sure what to do with the property they’re leaving.

To put it simply, selling might be best for you if you need cash right away and you know you have no interest in holding onto the asset. But, if you don’t need instant access to cash and you’d rather earn some impressive returns in the long term, renting might be your best idea.

Ultimately, it will depend on your goals and financial situation. Today, we want to offer some tips on how to decide whether you should rent or sell your home.

Do you Need to Access Equity?

When the sales market is strong and home prices are in your favor, selling can be an excellent way to earn money and walk away from the property. Maybe you need the money you’ll make on a sale to send a child to college or put a down payment on a new home. There might be other investment opportunities you’d like to explore with that extra cash.

Whatever your reasons for needing a predictable sum of money, selling your property can deliver that. If you have enough equity in the home and you know the sales market will deliver the price you want, selling is an easy way to move on.

Can you Earn Attractive Rental Income and ROI?

There are many financial benefits to renting out your property.

You’ll earn a reliable rental income every month and your asset will continue to appreciate in value, delivering a larger payoff when you finally sell in a year or five years or 10 years.

The rental market is complicated and always shifting in Redwood City and the surrounding areas. California is unique in its statewide rent control strict eviction laws. But, there’s a high demand for well-maintained homes, and a well-qualified and reliable pool of tenants. Rental prices are high and stable, even with rent control laws, and there are plenty of great renters willing to pay for a nice property. When you can attract and retain great tenants, they will help you pay off your mortgage while your property’s value continues to rise.

Have You Thought About Your Taxes?

There may be a capital gains tax on the sale of your home, whereas with rental property, you’re able to take a lot of deductions. You can deduct the home’s depreciation, which is pretty generous by IRS standards, and you can also deduct any expenses associated with the home, such as maintenance and professional services like accounting, legal fees, or property management. These write-offs help to reduce your overall tax liability.

Renting with Professional Redwood City Property Management

If you’re still trying to decide whether you want to rent or sell your Redwood City home, please contact us at Gibson Portfolio Management. We can help you talk through your choices.

Benefits of Referrals between San Carlos Property Managers and Real Estate Agents

gibsonportfolio.social@gmail.com (Gibson Portfolio) — Fri, 08 Jan 2021 21:01:56 GMT

We love Realtor referrals.

Not only do they work well for us, they work well for the real estate agents who refer their clients to us.

At Gibson Portfolio Management, we’re all about relationships and connections. Let’s talk about how a good referral program can help you help your clients.

Referring Real Estate Clients to our Team at Gibson Portfolio Management

The Realtors we work with refer their clients to us for any number of reasons.

Sometimes, they’re working with a client who wants to sell a property, but is struggling in the current sales market. If they can’t find a buyer or they can’t get the asking price they want, renting out a home until the market improves is often the best idea.

Some real estate agents refer clients who are purchasing a new home or relocating out of the area and instead of selling their current property, they know they can earn more money by holding onto the asset and renting it out. That builds equity and increases long term earnings.

Whatever situation your client is facing, you can relax knowing that our talented team will work hard to provide leasing and property management that maximizes earnings and embraces customer service. Our experience, systems, and responsiveness makes you look good to your valued real estate clients.

Commissions and Client Retention for Realtors

We look forward to meeting your client.

Once we introduce ourselves, we’ll spend some time explaining how our leasing and management services work, and we’ll share our expectations. We’ll ensure our mutual client is well taken care of throughout the entire leasing process. We will discuss how much rent they can potentially earn, how long it will take to rent the property, what we’ll do to maintain the home, and how we’ll market to and screen tenants. We’ll sign a management contract

Then, we’ll get to work with marketing the home, evaluating its rental value, and finding outstanding tenants.

There’s a commission for you, and the best part is that your client will be well-cared for, and ready to return to you when they decide to sell the property or buy another home.

Why Choose Gibson Portfolio Management as Your Property Management Partner?

Renting out homes is different than selling homes. You don’t want to leave your clients to manage their own property, and you don’t want to get trapped into doing it yourself. While you could easily find a tenant and collect rent, things get complicated if the security deposit isn’t managed properly or a maintenance emergency wakes the tenants up in the middle of the night. You need to understand fair housing laws and the difference between a pet and a service animal.

We’re ready to work with you and provide your valued clients with an incredible rental experience. Contact us at Gibson Portfolio Management, and let’s talk about how we can work well together.

Why San Carlos Rental Property Owners Should Work with Gibson Portfolio Management

Fri, 01 Jan 2021 21:00:02 GMT

At Gibson Portfolio Management, we believe professional property management is about much more than finding tenants and fixing sinks. We think it’s about connections and relationships.

Our deep knowledge of the local San Carlos rental market and our experience in the property management and real estate industries provide value and service. We deliver customized management plans because no two rental homes are the same. You have unique needs and goals as an investor, and we’re here to meet them.

There are hundreds of good reasons to work with us, and today we’re highlighting just a few of them.

Experience in San Carlos Property Management and Real Estate

Our entire staff is knowledgeable and experienced in all the facets of real estate and the San Carlos rental market. We are passionate about connecting tenants to properties. We know the neighborhoods, we know the market trends, and we know the competition. Our owners know they can rely on our expertise when they’re establishing a rental value, marketing their property to tenants, or deciding whether to hold onto the asset or sell it.

We believe in full-service property management.

Our team of professionals follow the market changes and stay ahead of all new legal requirements. We manage the house, duplex, condominium, or apartment building by marketing the property, taking rental applications, running credit checks, and executing rental contracts for qualified applicants. We will professionally maintain the property, manage the tenants and handle emergencies that arise to ensure the safety of the property and tenants.

We take care of everything.

Communication and Property Management in San Carlos

The team is growing every day, but we’ll never be so large that we don’t remember the names of our clients. Owners love working with us because we’re responsive, available, and accessible. We communicate promptly and proactively, and you’ll always know how your investment properties are performing.

Investing in technology is one of the best ways to manage your investment efficiently and cost-effectively. You’ll always be able to reach us, and what’s more – you’ll always be able to access important information pertaining to your property. Your tenants have the same benefits. They can request maintenance 24 hours a day, pay rent online when it’s convenient for them, and relax knowing that we will respond to any need that comes up.

We Keep Earnings Up and Expenses Down

We also protect you from costly legal mistakes. It’s easy to run into trouble with fair housing laws and security deposit refunds. Our property managers stay on top of all federal, state, and local laws pertaining to rental housing and the landlord/tenant relationship.

These are only a few of the reasons rental property owners choose our team. If you’d like to hear more about how we can help with San Carlos property management , please contact us at Gibson Portfolio Management.

How COVID-19 is Affecting the Redwood City Rental Property Market

gibsonportfolio.social@gmail.com (Gibson Portfolio) — Fri, 25 Dec 2020 21:00:03 GMT

Real estate markets all across the country are adjusting to the economic uncertainty triggered by the COVID-19 pandemic, and the rental market in Redwood City is no different. The pandemic isn’t going away anytime soon, it seems, and investors need to be creative, flexible, and steadfast. We can work through any challenges that come up and we can even embrace some of the opportunities.

Let’s take a look at what COVID-19 means for us in Redwood City and the local areas.

Real Estate Remains Strong

The good news first – this pandemic has generally caused a slight drop in rental values and net collected rents, but there hasn’t been a complete stall in rent collections, and things are not nearly as catastrophic as some experts predicted months ago.

Most tenants who can pay rent are continuing to pay as normal. These are the tenants who were not financially impacted too much, and are simply working from home instead of going into work. For the tenants who have struggled to keep up with payments, most of the landlords and property managers we have been talking to report that everyone is working together. Rental property owners and managers have done a good job of working with their residents and remaining flexible during this unprecedented and uncertain time.

Smart Investors Are Flexible

If you had good tenant relationships in place before this, you’re likely in a stronger position than owners who had adversarial relationships with residents or didn’t communicate with them much. The CDC has deemed evictions to be a public health crisis. So, they’ve issued an eviction moratorium for residents who have been financially impacted by the pandemic.

This moratorium arrived at the end of the statewide eviction ban that was in place since March, making it extremely difficult for landlords to remove tenants who aren’t paying rent.

With the federal ban, you really have to work with tenants to get as much rent as possible. If you have residents who have lost jobs or seen their hours and pay cut due to the pandemic, the government benefits they’ve received are probably starting to wear thin. You’ll have to see what you can collect, and you’ll have to be willing to make compromises.

Rental property owners have been willing to do this over the last six months, and it’s going to have to continue. Collect what you can and negotiate the rest.

There also needs to be more flexibility in terms of how you’re leasing, managing, and maintaining your property. We’ve seen a huge trend in contactless showings. More owners are embracing self-showing technology so tenants can see properties safely. This is a huge shift in how properties are rented, but it ensures we’re able to continue renting those homes. Nearly every lease is now signed electronically and new safety precautions have gone into place for emergency and routine maintenance repairs.

Redwood City Rent Prices

Any decrease in rental value is unpleasant, but considering Redwood City is suffering less than other markets, we’re feeling confident that investors will be able to get through this period with as little loss as possible.

This pandemic has affected nearly everyone in some specific way. For real estate investors in Redwood City, it’s caused a bit of uncertainty and a little less cash flow. But, there’s also opportunity. If you’d like to learn more about how to leverage your investment properties now, please contact us at Gibson Portfolio Management.