Living in California is a dream to many people who are not natives of this sunny, prosperous state on the West Coast. California is an abundant state filled with an intriguing combination of major metropolises and rolling fields and vineyards. From scenic, pastoral rural areas to fast-paced cities like Los Angeles and San Diego, California condos offer exclusive living conditions to tenants and premier money-earning potential to real estate investors.
Leases for condos in California are available on a month-to-month basis, six month basis, one year, two year, and five year terms. These are the most common terms of leases found throughout California condo rentals and these terms of lease provide a stability of income for the landlord and a secure place to live for the tenant. When a real estate investor purchases a condo to rent to a tenant, it is wise for the landlord to then have a lease drawn up that will include in detail the maintenance, upkeep, and amenities that are provided. This will help the landlord to be legally protected and it will also relay to the tenant exactly what the tenant has access to and what the conditions of the lease agreement are.
California is a major hub of fashion, commercial production, agriculture, film, and education that people are constantly on the lookout for condos to rent that will be close to job and school facilities and will require a minimum commute time to necessary places. Real estate investors who are considering investing in multiple condo properties in California have the opportunity to earn a major income by investing in condos that are both in the major cities of California, as well as the condos that are in more rural wine country areas.
In the major cities, working adults will be seeking available condos. The income potential that can be earned by investing in condos can be increased by providing major appliances, and also by updating condo interiors. Laminate wooden flooring, silver-plated knobs and faucets, updated kitchen cabinets, and new lighting can dramatically improve the look and appeal of an outdated condo.
Making these minor changes can increase the property value and also allow the landlord an opportunity to get more rent for the unit each month. These improvements also make the tenant feel better about his or her home and provide the tenant with more comfort and convenience. Additional amenities such as saunas, garage parking, gardens, atriums, and choices in paint colors and floor layouts will increase the landlord's ability to rent a California condo to a tenant.