Oakland, California (EastBayDaily) — Leading real estate and property management firm, ACL Real Estate and Property Management, announced that the San Francisco region is likely to be among the cities that see the highest rent growth during 2014. The positive trends in job growth and new construction seen in the city through 2013 is expected to raise the demand for housing, pushing rent prices higher through 2014.
With statistics released by MPF Research showing a 4.7% increase in rents in San Francisco in 2013, the city comes in second only to Seattle (5.8%) in terms of growth in rental rates in the nation through the past year. Add to this the recent The State of the Nation’s Housing 2013 report, which says that the national rental vacancy rate has seen a decline to 8.7% in 2012, a record low since 2001, and one has the right recipe for good rental demand continuing in San Francisco.
The unemployment rate, as reported by the US Bureau of Labor Statistics, declined from 6.9% in July 2013 to 6.1% in September of the same year, which is also good news for homeowners looking to rent out their property.
“Not only will housing rental see an upsurge through 2014 but commercial rentals is also set to witness gains through 2014. The thing to keep an eye on is the interest rates and the pull back on bond buying from the Federal Reserve.” said a spokesperson for ACL Real Estate and Property Management. “This is the best time for property owners to hire experienced property managers not only to ensure that tenants are effectively screened but also to ensure the best rental rates and timely payment of rent,” the spokesperson added.
With wide experience in property management in San Francisco region, particularly the East Bay and Peninsular regions, ACL Real Estate and Property Management has built its reputation on low cost, high quality services to help property owners right from the first step of placing an advertisement for their vacant space through each step of the renting process, including tenant screening, credit checks, lease signing, collection of rent and property maintenance.
About ACL Real Estate and Property Management: With wide experience and a proven track record in quality service and reliability, ACL Real Estate and Property Management has carved a niche for itself for its real estate and property management services in the East Bay and Peninsular areas. The company has a successful track record of assisting home owners in both selling and buying any type of property. The company also offers comprehensive property management services that ease the process of selecting tenants, maintaining the home and ensuring timely rent collection for homeowners.