12/15/2021
" We Appreciate YOUR Trust in BEST "
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It is our Pleasure to continue to take brunt of all Property Management issues for You. We are very grateful to You for You as a Client.
Because of the increased value of your Investment Property the rental prices are skyrocketing in the Inland Empire. And as You know, every year we raise the Rents for You. We work hard for Your successfulness with your Investment.
The eviction moratorium is over but still there is very little rental inventory available.
It takes first and last month to move. That is a lot of money to a renter. And the vacating renter does not get the security deposit back until 21 days after vacating.
With the prices only being able to increase 10% per year, Some Rental Investment raise in rents to 10% a year may still be under rental market prices. Therefore Landlords can give ”Notice to Quit", then get the rental price up to today's completive fair market value. While this likely wasn't the intent of law makers, the rent restrictions have created a condition where it motivates landlords have renters quit and get new renters. This is often the only way for the Investors to achieve the best positive cash flow. This is another shortsighted government interference with the fundamental of supply and demand pricing and damaging to the Investor.
We work hard to keep the repairs cost down to a minimum. However prices of materials and supplies have inflated way more than the consumer price index. Some materials and supplies are scarce for older homes. Every vendor we use has a business license and insurance.
Your new administrator is Susan Holly. We all enjoy working with her.
So Good Luck to us all in 2022
Trent Westermeyer
