I own a rental in what I would call a ‘premium’ location in Central Temecula (Paloma del Sol), and I had a hard time getting the house rented out even though it is in pristine condition and in a community with lot’s of amenities.
Were talking a 1500 sq ft house about 200 yards from a 9 ranked elementary school (API well over 900).
I went through a management company and priced it slightly below market based on other local/comparable rentals.
1st of all housing prices in Temecula are still falling, maybe not as steep as 3 years ago, but they are still falling.
The problem I found is that there is a high inventory of rentals available, meaning it’s a renters market.
I suspect rents are falling as well.
On the other hand a lot of Marines rent in Temecula which is good.
On a side note my rental has turned into a nightmare IMO – there’s got to be a better way!
