I manage rental properties out of Gold River. The most common mistake I see with Sacramento landlords: overpricing.
Sacramento rents have flattened this year. After a few years of steady increases, the market leveled off. A 3-bedroom in a decent area runs $2,200 to $2,600 depending on the neighborhood. The days of listing high and still getting 10 applications in a week are done.
Most owners price off Zillow. Zillow shows what landlords ask for. It does not show what tenants pay. Those are two different numbers. I use rental data that shows what properties within a few blocks leased for in the last six months. Almost every owner I talk to is $200 to $400 over market because they picked the highest Zillow comp they could find.
An overpriced unit sits vacant for four to six weeks instead of two. On a $2,200 rental, that gap costs $2,200 to $3,300 in lost rent. Pricing it right and filling it in two weeks, even at $200 less per month, earns more over 12 months than the higher price with six weeks of vacancy.
If you own a rental in Gold River, Rancho Cordova, Elk Grove, or anywhere in Sacramento County and want to know what it should rent for, look at what leased in your zip code in the last 90 days. Not what is listed.
Alpha Property Management provides free rental analyses for Sacramento-area property owners.
(916) 308-5615 | alphapropmanagement.com 2377 Gold Meadow Way, Suite 100, Gold River, CA 95670
