San Jose, CA – May 29, 2012 – The property market is on the rebound in Palo Alto and this fact has a lot of investors sighing in relief. After the housing market collapse in 2008 Palo Alto was hit very hard. Since the bubble burst, investors have been hesitant to invest in property and have debating whether or not they should even keep their properties that once earned them a regular income. New statistics now show that the average price of rents in Palo Alto is on the rise. This is great news for investors and gives them a new found hope in the Palo Alto property market.
While the median home sales price is up 12.8 percent in 2012, these are not the statistics that are making investors happy. The fact that the average cost of rent for tenants is up $224 in the year 2012 alone gives investors a reason to jump for joy. This statistic means that in a 12 month span, investors can make an additional $2688 a year in rental income on the average price alone. If these investors have luxury properties, they may make even more of a profit.
Today, the median rental price in Palo Alto is $2095 per month. Studios are priced at $1455 per month and 4 bedrooms can cost as much as $6950. The most popular properties in Palo Alto are 2 bedrooms and investors with these properties can certainly benefit from the increased demand. With a population of 58,590 residents, more than 36 percent of these residents are renters. These figures are expected to increase as the price of property in Palo Alto continues to rise. Residents simply cannot afford to buy properties and those who can may have trouble finding financing for the high sales prices of property in the city.
Investors are the ones benefiting from the increased cost of rents in Palo Alto. Now, investors can charge higher rents and even cover the cost of professional Palo Alto Property Management without the cost of these professional services cutting in the rental income the investor would have made. If you are interested in hiring a property management team to market or manage your property in Palo Alto, call Real Property Management at 408-526-0900 and discuss how much you can set your rent at so you can find high quality tenants and still take home rental income monthly.
For more details please click http://www.realpropertymanagementsanjose.com/