Life in Santa Monica:
Santa Monica is a beach city in Los Angeles. With the celebrity-studded Pacific Palisades neighboring the city, Santa Monica is home to famous amusement parks and other tourist attractions. Located by the ocean this beach city enjoys a warm coastal climate all-round the year. This is a costly city to live in with the cost of living on an average is almost 50% higher than in California. But the median household income is also higher on an average in this city. The only downside is the higher crime rates in this city. So be careful to choose the right neighborhood. There are a lot of top rated schools in and around the city and the graduation rates are good.
Real estate market in Santa Monica, CA:
The city of Santa Monica is known to have a housing market that has recently been stable. When it comes to the sales price of properties in this city, there has been a noted increase in the recent year; the price per square ft. has gone down, though. The average monthly rent has also increased. The city has an average of more than 50% of single residents and the median age is 41. Only around 28% of the city residents are the house owners themselves.
Why would you need a property management company?
As a property owner:
Given the high percentage of single residents living in the city and given the average rent, finding your type of tenant would be a difficult task. It would also take some effort to maintain a proper rapport with the tenant and carry out the rent collection periodically provided you live far off. So a property management company can come to your rescue.
A property management service provider also takes care of the documentation work involved in the tenancy. They also carry out the periodic maintenance of the property and attend to emergency repairs on behalf of the landlord.
For the house hunter:
If you are hunting for a house to rent, it takes a lot of effort to choose the right one. As the average crime rate in the city is high, you should be careful in choosing the right house in right neighborhood so as to settle in safely. And as most of the houses in the city are rented out, there might be more options and even more competition in finding and finalizing the right house. So a property management company is what you need. They can make it easier for you to get your maintenance and repair works done once you move in. Sometimes getting in touch with the house owner and getting repairs done on time would be difficult in case the house owner isn’t residing nearby. Instead of approaching the owners’ associations and complicating the process, you could first approach the property management company who would be able to sort out your issues.
If you are a house owner or a tenant looking for a single point of contact who can serve you in an unbiased way and fetch the right value for your property or the right property for the paid rent go to the right property management company.