In the past, the tenant pool for 92130 seemed to be really painful. People who were tenant prospects in past years seemed to be really picky, and demanding, at least from what I experienced.
There was one person who asked for a jacuzzi to be installed, another thst asked me to change the carpet upstairs (it wasnt that beat up). One that wanted to replace cabinets after I already replaced the counter.
And of course there is always a “Karen of UCSD” of Karens that always starts out with “hi, my daughters(or sons) got into UCSD and we wanted to rent your house so we dont need to drive as much from Orange County….”
(Basically, 90+% of the time, it’s a housing agency that will rent out your house pretending to be a USCD parent, but then end up subletting each of yourbedrooms to incoming UCSD students from overseas for $1800/month per room, without telling you….every single time..)
And if you do find a tenant, they wont stay that long since they will try to buy in 92130.
This year, though it seems different….This year, i guess because of how ridiculous home prices have gotten, I got interest from some who have to move becsuse the landlord decided to sell. So a lot of homes seem to be falling out of the rental pool. Also, it seems like a lot of people can now work remotely indefinitely and many seem like they want to be in San Diego. Some of them are trying to buy a home but due to supply constraints, they cant. So now they too want to rent… And then there are professionals who live in more expensive SF and LA or OC, that now can permanently work remotely, would rather rent a 4-5 bedroom home in San Diego with a nice public school district and pay almost the same amount as they were in SF/LA/OC with half the number of rooms and sq footage and lesser performing public schools, who ask about the possibility of a long term lease…People who have more than enough income, 800+ credit scores and $200k+ household incomes.
Those are the keepers.
Seems like much lower rental inventory, much better quality of tenants this year…and about $700/month higher rent price for me than last year. Otherwise i would have seriously considered selling…
92126, on the other hand has always been a better rental market. Purely from an economoc standpoint, i would be better off financially if I sell my 92130 sfh and buy 3-5 more 92126 condos.. it would cashflow better.
But then again, while selling wouldnt be an issue, finding 3-5 good condos in 92126 would be an issue. So i took the easy way out and leased it to the nice financially well qualified people who hopefully will stay for while. Also, i close on my cash out refinance this week. So im on the market to pick up #5 and maybe#6. Heh heh. But no really, im just small potatos compared to you Esco….I wish i started earlier in real estate. For me its kinda fun…not as fun as working on cars..but almost.
But this year, it felt good to be able to say to 92130 Mr Jacuzziman and 92130 USCD Karen ….”Good luck with your 92130 rental search….”
Im excited by my new tenants. I like them…Even though i probably didnt have to, im throwing in central AC into house that really doesnt need it, at my cost.
