As a real estate agent nestled in the heart of Penn Valley, California, I have had the pleasure of experiencing the vibrant community that surrounds us. But did you know that we’re just a stone’s throw away from the bustling Beale Air Force Base in Marysville, CA?
This proximity opens up an incredible opportunity for local landlords – renting to military tenants. Allow me to share with you some invaluable insights on why this could be your next smart move.
The Department of Defense reports that a whopping 63% of service members opt for off-base private housing. This equates to over 11 million active-duty renters seeking a place they can call home. And with the military providing a Basic Allowance for Housing (BAH) as part of their compensation, you can be assured of a reliable income stream from your tenants.
But wait, there’s more! The Rental Partnership Program (RPP) is a wonderful initiative that connects landlords with service members in need of off-base housing. As an RPP partner, you will enjoy several benefits such as:
* Marketing your rental on the RPP properties site.
* Assurance that active duty renters will have permanent orders in the area for the duration of the lease.
* Rent paid directly from the military funds allocated for off-base housing.
To become an RPP partner, you must have a clean record with the Housing Services Center (HSC), your property must meet the HSC’s inspection requirements, and you need to be willing to offer discounts or waive certain fees.
However, there are a few things you should keep in mind. Military tenants may need to relocate quickly due to deployments or Permanent Change of Station (PCS) orders. The Servicemembers Civil Relief Act (SCRA) also allows military tenants to terminate their lease under specific conditions.
To make your rental property more appealing to military tenants, consider adapting your lease to accommodate sudden deployments, adjusting your rent to align with the average BAH rate in your area, and offering military discounts or other perks such as waiving fees.
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In conclusion, renting to military tenants near Beale Air Force Base in Penn Valley, California can be a mutually beneficial arrangement. The consistent income, potential benefits from the RPP, and the large pool of active-duty renters are just a few reasons why this could be a perfect fit for local landlords. Just remember to adapt your lease agreement, consider the BAH rates, and offer military-specific perks to attract these reliable and honorable tenants. Make the smart move today and tap into this fantastic opportunity!
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