03.01.2001 :: Rental News
The Rental Connection
by Rita Law

Everyone asks, talking over coffee, pizza or a glass of wine, what happened to the real estate and rental market in Santa Cruz County. My humble and somewhat experienced opinion is that the obvious is true. The secret is out. Santa Cruz, for years, has been a kept secret among the Valley people and the Southern people.

Well, now it's out. We have been touting the heck out of Santa Cruz in our business ads, tourism ads, travel media, web pages and magazine ads. Everyone from Fresno, California to London, England has heard of Santa Cruz and wants to move here.

The housing in San Jose is out of sight costly, the quality of life there (cement city, I call it) has deteriorated and who could blame them for wanting to raise their children "at the beach". Our weather is ideal most of the year; we have all kinds of food, fresh, organic, our own wineries (why go to Napa?), water sports, galleries and various festivals throughout the year, just look around, who wouldn't want to live here.

Now, who can afford it? Prices have been steadily going up for the last 5 years in the rental market. Causes - supply and demand, people with money that want to live here but work in high paying jobs outside of Santa Cruz and can and will pay more.

Rents are increasing on an average of $100.00 per month per ym. What do the rest of us do, who aren't making $100,000.00 per year? Tenants are sharing housing, splitting costs.

The other problem is availability. When a property is available and hopefully affordable, 25 people show up to apply. How do landlords or property managers choose? The early bird doesn't always get the worm in this case. I would like to say though, from experience, the richest don't always get the worm either.

Is it our fault we opened the world to the treasures of Santa Cruz? Do all good things really come to an end? Is rent control an answer?

Stay tuned for more information on tidbits, local and state tenancy and landlord laws, being a landlord, being a tenant.

Rita Law is President of Kendall & Potter Property Management, Inc., one of the largest property management companies in Santa Cruz, providing both long term rentals and vacation or short term rentals. She is a Real Estate Broker, a member of the Aptos Chamber of Commerce and National Association of Property Managers, a board member of the Vacation Rental Managers Association and a board member of the Santa Cruz Tourist and Convention Bureau of Santa Cruz County. You can e-mail Rita at kpr@cruzio.com with any topics you would like to see discussed.