For real estate investors, Santa Clara, CA can be a veritable goldmine. With its bustling economy, family-friendly neighborhoods, endless entertainment and shopping options, excellent school system, and fantastic weather, it is not surprising why so many home buyers and renters decide to make it their home.
Considering the extremely high demand for residential and commercial buildings, rental property owners have a higher chance of making a hefty profit on their investment, especially if they are working with an experienced Santa Clara property management firm.
What You Need to Know When Moving to Santa Clara
Lovingly referred to as the “center of what’s possible”, Santa Clara is located right in the center of Silicon Valley. With a population of 127,647 (2020 United States Census), the city is the 8th most populous city in The Bay Area, right after Hayward and Sunnyvale.
Santa Clara is definitely one of the best places to live in California. Listed below are some of the awards and accolades it received in recent years.
In the national level, Santa Clara was awarded the following:
- 14th Best City for Young Professionals in America
- 15th Healthiest City in America
- 15th Healthiest Place to Live in America
- 22nd Best City to Raise a Family in America
- 23rd Best City to Live in America
- 28th Best City for Outdoor Activities in America
- 47th Best City to Retire in America
- 98th Most Diverse City in America
Aside from these citations, there are several other reasons why people fall in love with Santa Clara.
- Santa Clara is blessed with a strong economy. Some of the top employers in the city include Applied Materials, Inc., Intel Corporation, Advanced Micro Devices, Inc. (AMD), California’s Great America, Avaya, Inc., Santa Clara University, the City of Santa Clara, Kaiser Foundation Hospitals, Macy’s, and ON Semiconductor. Together, these businesses and corporations employ over 29,000 people. Some of the world’s top technology companies (Nvidia, Omnivision, Oracle, Texas Instruments, etc.) are also headquartered in Santa Clara.
- Residents receive higher income. While the national median household income is around $62,843, Santa Clara residents receive almost twice the amount ($126,006) due to the abundance of high-paying jobs in the area.
- It offers endless entertainment and shopping options. There are many reasons why tourists love Santa Clara. There’s Levi’s Stadium for football enthusiasts, while art lovers can feast their eyes on historical and contemporary works of art at the Santa Clara Triton Museum of Art and enjoy watching theatrical productions at the Mission City Center for Performing Arts. You can also shop and dine until you drop at the Santa Clara Square or hang out and enjoy nature at its finest at Central Park and the Ulistac Natural Area. They even have their own theme park (California’s Great America) and waterpark (South Bay Shores)!
- It has an excellent school system. The city has 19 elementary and high schools and is home to several colleges and universities, which includes Santa Clara University, Mission College, and Golden State Baptist College. Impressively, after reviewing key statistics from the U.S. Department of Education and reviews sites, Santa Clara is considered as the 27th City with the Best Public Schools in America by Niche.com, an American ranking and reviews site.
- It has a great climate. Santa Clara residents enjoy hot and dry summers from June to October and mild winters (no snow!) from November to February.
Who wouldn’t love the place?
Santa Clara Housing Market
Currently, the median home value in Santa Clara is around $1,034,000 (some sources estimate that a typical home can cost up to $1,558,647) while the median rent is around $2,396. Given the outrageously high cost, there are more renters than homeowners (57% vs. 43%) in the area. The situation greatly favors rental property owners since it guarantees a steady stream of renters and ensures positive cash flow and profits.
Figuring Out Your Next Move
Evidently, investing in rental properties in Santa Clara, CA holds tremendous potential, so if you’re going for it, you need to play it smart. Unless you’re a seasoned landlord who has tons of time on your hands or who has already established a strong network, you may need to work with a professional property management firm in Santa Clara, CA to maximize your profits.
While you can try doing everything by yourself, working with a credible Santa Clara property management company significantly increases your chances of success. By having a property manager, you can delegate most of the hard work, including the following:
- Preparing the property prior to occupancy and making it rent-ready.
- Marketing and advertising to qualified tenants.
- Tenant screening and conducting background checks.
- Organizing routine, move-in, and move-out inspections.
- Preparing the lease contract agreement.
- Collecting and distributing rent payments.
- Handling property maintenance and repair requests.
- Bookkeeping and accounting.
So, how do you find a Santa Clara property management firm that provides all your needs? Just follow this simple three-step process:
- Ask for referrals. Ask your personal and professional network for recommendations. Do they know a trustworthy property manager in Santa Clara with a good track record?
- Go online. The internet is a good source of information, so go ahead and visit property management websites and review sites.
- Perform on-site visits. Don’t make hasty decisions since the fate of your business largely depends on your choice of property manager. For best results, invest a little more time in the process. Visit some of the properties being managed by the company and talk to some of their tenants to know if they are doing a great job.
Tenant Planet, Inc. : Professional Property Management
With all the Santa Clara County property management companies out there, why choose Tenant Planet, Inc.? The answer is really quite simple. At Tenant Planet, Inc., we are committed to one goal: make your investment work for you. Every property management company in Santa Clara CA can make the same promise but there are only a few who can actually do that for you.
Enough with the hard work. You’ve had more than your fair share of that through the years. You deserve to enjoy your life to the fullest so let us handle your rental properties for you.
Tenant Planet, Inc. is a full-service San Leandro property management company. We aim for mutually satisfying rental agreements between homeowner and the renter. Please contact us for more information: (844) 875-2638.
