How’s rental going in SLC and Utah counties?

[Leonidas Loo]

Hi there,

This is a question for RE investors and professional in Utah.

We are diversifying our portfolio and bought two SFRs in Salt Lake county this 2020. With all covid-19 things we heard, there’s no factual evidence that the RE housing market in Utah even slowed down a bit (I meant by the house buying and selling process).

However, not much is heard about the rental market. With the eviction moratorium soon to conclude, is it still a good idea to invest in residential rentals in salt lake and utah counties? (I meant long-term rentals).

Something I can aware of?

Thanks in advance.

[Tanner Morrill]

Originally posted by @Leonidas Loo:

@Dan Gustavson thank you for your reply. It’s good to know that the UT rental market is good. If I may ask you a question, under a rental agreement, who takes care of the exterior upkeep? I understand that landlords do all structural maintenance but tenants have some maintenance to do. For example, what about lawn and driveway maintenance, snow removal. Who takes care of them?

Also, if you have another suggestion what I can add in a rental agreement, I’d appreciate it. I don’t want to be so hard nor so soft with tenants. Thank you in advance.

Leonidas Loo, everything's negotiable but I make sure tenants are responsible for repairs less than $60, they shovel snow and take care of the grass & yard. Otherwise I the owner take care of everything. My rental is not in an HOA. I suggest you make tenants responsible for replacing light bulbs too and all the small stuff. It's just awkward and tedious for a manager or owner to do bunch of small tasks.