San Francisco, CA: The Golden City
With 873,965 residents, San Francisco is the fourth-most populous city in California. San Francisco is known for its mild climate, beautiful rolling hills, and many landmarks. Some of these include the Golden Gate Bridge, Alcatraz Island, and Fisherman’s Wharf. The city also boasts a thriving economy, with companies such as Wells Fargo, Airbnb, Uber, and Twitter headquartered here.
Additionally, San Francisco has a diverse and vibrant local arts scene. Notable points of interest include the War Memorial and Performing Arts Center, the SFJazz Center, the San Francisco Museum of Modern Art, the War Memorial Opera House, the Fillmore, and the de Young Museum. Sports also play a significant part in the culture of San Francisco. The city is home to several major league teams, such as the Golden State Warriors (NBA), the San Francisco Giants (MLB), and the San Francisco 49ers (NFL).
San Francisco is also a major educational hub. Colleges and universities located in the city include the University of California, San Francisco, San Francisco State University, and the University of San Francisco. Other attractions include the California Academy of Sciences, the Muir Woods National Monument, Pier 39, Lombard Street, the Asian Art Museum, Union Square, and the Palace of Fine Arts.
How Is San Francisco’s Rental Market?
Real estate in San Francisco is very expensive. In fact, the median listing price for a home in this city is $1.3 million — way above the national median. Perhaps this is the reason a majority of residents rent their homes. Renters make up 62.4% of the city’s population. With a wide pool of renters, San Francisco is definitely a good place for rental property owners.
Image via towncharts.com
Landlords can also benefit from the expensive rental rates in San Francisco. The average rent for an apartment in this city is a whopping $3,102, which is twice the national average. Most of the apartments here also have a rental rate above $2,000. Only 11% of apartments fall between the $1,501 to $2,000 rental range, and 4% go below $1,500.
Image via rentcafe.com
Lastly, San Francisco boasts a relatively low vacancy rate. In 2019, the vacancy rate in this city was 3.55%, which was significantly lower than the national vacancy rate of 5.97% at the time.
How a San Francisco Property Management Company Can Help
San Francisco is definitely a good place to invest in rental property. Being a landlord, though, comes with plenty of responsibilities. On top of the usual rent collection and maintenance, you also need to make sure everything you do is within the law. Each state — and even locale — has its own set of laws pertaining to landlords and tenants. Failing to familiarize yourself with these laws can get you in trouble.
This is where a San Francisco rental management company can help. For professionals, it is part of their job to remain informed of the different laws that apply to rental properties. This includes statutes concerning rent control, eviction, and entry to a rental property without notice. What else can a property management company do for you?
- Advertise your listing
- Screen and process tenants
- Oversee property showings
- Set and collect rent
- Create a lease agreement
- Perform move-in, move-out, and routine inspections
- Enforce your lease terms
- Manage maintenance and repairs
- Respond to tenant complaints
- Manage your budget
- Help with tax calculations
- File evictions
Looking for Property Management in San Francisco?
San Francisco is home to a number of property management companies. The difficult part is trying to find the one that best matches your needs and price point. Streamline your search process today with the help of Rental Choice. Browse our online directory of property management companies by city or state.