Often I get emails from people asking if I can help them with finding a rental property. For the most part, my practice revolves around listing and selling real estate in San Jose, Los Gatos, and Silicon Valley generally, so my best information is on what’s for sale, not what’s for rent.  Once in awhile I work on rental housing, but not normally, as rental condos or houses through an agent (if they are listed on the MLS) will usually cost you more than homes you find to rent elsewhere.

The best resources I have found for locating rental properties in Santa Clara County are these (I cannot guarantee or warranty your results, but these are starting points for you):

• Craigslist (link is to the South Bay area)
• Bay Rentals (they do charge a small fee)
• ForRent.com (search by city name or zip code)
• Once you’ve located an area you like – drive around
• possible – the mls search – scroll down on left sidebar widget on this blog and pull down the menu under “all property types” and select Rentals OR run similar search by map on my popehandy.com site at this link ~ you must also find “property types” on left side and then locate rentals under that)

The last bullet point might seem silly, but some of the best apartments, townhomes etc. never get listed anywhere other than a sign in the yard.  So if you love Los Gatos, Campbell, Santa Clara or anywhere else, drive it and watch for signs! (Or talk with friends or acquaintances in areas you like – have them keep an eye out for you.)

Perhaps you want to be in a hotel or inn for awhile before deciding where to rent or buy, or while on temporary assignment at a local business or university. You don’t need me to tell you where to stay in a hotel, but if you are moving here with a pet you might want assistance finding a place which will welcome your cat or dog.  Here’s a great resource for finding pet-friendly hotels, motels and inns here: DogFriendly.com’s San Jose (and nearby) City Guide, which includes accomodations, parks, outdoor restaurants etc.

Right now, it seems to be the case that it’s harder to rent a home than to buy one – at least that is the word on the street.  (And it seems that like with the purchase market, the closer you get to Palo Alto, the tougher it is.)  Tougher still if you have pets or smoke.  If you have pets or smoke and find a rental, the cost per month will be higher.

Finding a home to rent in Silicon Valley can be an enormous challenge.  Most Realtors don’t do rentals (since very few are offered on our MLS), so consumers looking to find rental housing are often doing it on their own.  This can be especially tough if you are relocating to the San Jose area!

Who you gonna call?

In my experience, the best places to find homes to rent, besides literally driving through neighborhoods, is online with Craigslist or via Bay Rentals.  Bay Rentals does charge a fee but they do great work and you will know you’re not getting scammed.

Below you can browse properties offered for rent in Los Gatos, Monte Sereno and Saratoga.  There aren’t very many of them but it’s a piece of the information puzzle.

Showing properties 1 - 4 of 4. See more city of Los Gatos real estate.
(all data current as of 2/11/2012)

1. $6,000 : Bicknell, Los Gatos
   
   5 beds, 3 full baths

   Home size: 3,166 sq ft
   
2. $6,500 : 16001 Glen Una Dr, Los Gatos
   
   3 beds, 3 full baths

   Home size: 2,800 sq ft

   Lot size: 1 sq ft
   
3. $10,000 : 130 Drysdale Dr, Los Gatos
   
   5 beds, 4 full, 1 part baths

   Home size: 4,483 sq ft

   Lot size: 1.31 ac
   
4. $25,000 : 16450 Aztec Ridge, Los Gatos
   
   6 beds, 7 full, 2 part baths

   Home size: 11,257 sq ft

   Lot size: 50 sq ft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

Showing properties 1 - 3 of 3. See more city of Saratoga real estate.
(all data current as of 2/11/2012)

1. $4,950 : 13785 Lexington Ct, Saratoga
   
   4 beds, 2 full, 1 part baths

   Home size: 2,220 sq ft

   Lot size: 13,300 sq ft
   
2. $3,895 : 13845 Saratoga Ave, Saratoga
   
   3 beds, 2 full, 1 part baths

   Home size: 2,254 sq ft

   Lot size: 1 sq ft
   
3. $4,950 : 13724 Lexington, Saratoga
   
   4 beds, 2 full, 1 part baths

   Home size: 2,509 sq ft

   Lot size: 10,018 sq ft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Silicon Valley is home to three great universities (Santa Clara University, San Jose State University and Stanford University), about a half dozen community colleges (Mission, Evergreen, West Valley, Foothill, De Anza, San Jose City, Ohlone,  Canada) plus smaller trade schools or polytechnic colleges for specific career-oriented individuals  (such as Cogswell in Sunnyvale).

Most of the smaller schools do not offer student housing while the larger ones typically do – though it may not be guaranteed for all four years.

If you are a parent of a college student in the San Jose – Santa Clara – Palo Alto area, should you consider purchasing a condo, townhouse or house for your son or daughter?  Does it make financial sense to do so? Over time, would this be a good investment? Would it be best for your son or daughter to skip the dorm scene?             (more…)

A couple of days ago, I showed a home for sale along the Los Gatos border with Cambrian Park (area of San Jose) to a buyer couple.  It’s tenant occupied, was pretty much a mess  (and on top of being in disarray was dark – curains drawn, no lights on etc.) and the person who lived there walked us through the property, telling us things about the owners and the situation that really didn’t make my buyers want to purchase the home at all.  Between the condition of the property and the info-packed narrative, my clients could not wait to leave.   No sale!

If you own income property (or rental property) in Silicon Valley and want to sell it, you may be aware that a 1031 tax deferred exchange is something to consider.  What you may not remember to do is to strategize about what to do with your tenants.  How do you get them to be cooperative, responsive to showing requests and neat? And preferably, to be absent or at least quiet and out of the way when the home is shown?

When residential real estate is for sale, the occupants’ lives are turned upside down.  It’s no small amount of inconvenience and risk to them with the traffic in and out, the calls at all hours, the loss of privacy and on top of everything else, the risk of personal propertybeing stolen.  If you are a homeowner, you are motivated because you will get cash out of the deal at close of escrow.  If you are a renter and the home you’re renting or leasing suddenly goes on the market, there’s not really a “silver lining” built into the scenario most of the time.  That can set the stage for trouble and even financial loss.
(more…)