Labor Day marks the unofficial end of summer. It also kickstarts the flurry of back to school activities and the inevitable holiday rush that seems to begin earlier and earlier each year. For many landlords, the end of summer marks the end of the busiest season of the year. With vacancies filled, it's tempting to kick back and enjoy the fruits of your labor. Cal Bay Property Management's Scott Safadi urges busy landlords to rethink this strategy.
Before you settle in for a peaceful fall, make sure you're doing your due diligence when it comes to property maintenance. While you've likely stayed on top of landscaping chores through the hottest months of the year, other parts of your property may need your attention. Follow this end of summer maintenance to-do list to keep your property in the best condition possible:
- Scott Safadi, Cal Bay Property Management
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Investments, by their very nature, require risk. Putting up money to fund a company you believe in, for instance, requires faith that the organization will grow and earn your money back - and then some. Many believe real estate investments to be especially risky, as the market can slow unexpectedly. Still, research continues to show that single family real estate investments are a smart way to grow your wealth.
This is especially true in the Bay Area, says Scott Safadi of Cal Bay Property Management. Since the local rental market shows no sign of slowing down, there's never been a better time to invest. While many are hesitant to become a landlord, property management companies make it easy to earn passive income by leaving the hard work up to the professionals. If you've been considering investing in single or multi-family real estate investments, consider working with Cal Bay Property Management. By outsourcing the most labor-intensive parts of renting to our team, you'll gain peace of mind while still investing in your community. Late-night phone calls, emergency maintenance requests, and tenant screening are our forte. Explore the possibilities with Cal Bay Property Management! - Scott Safadi, Cal Bay Property Management More than half of all Bay Area multi-family units planned in the first quarter of 2019 will be built in Santa Clara County. That's the news from the Silicon Valley Business Journal this week. The report outlines an overall slowdown of the Bay Area multifamily construction but highlights the continued growth in Santa Clara. No matter where you live, own, or rent in the Bay Area, this news is worth paying attention to - it may even help predict what's to come for apartment communities and rental properties in the near future.
Scott Safadi of Cal Bay Property Management has kept his finger on the pulse of the Bay Area's ever-changing real estate landscape. While the news of a potential slowdown for multifamily construction might seem unfortunate at first glance, the competitive nature of the local rental market is not likely to change any time soon. Anyone considering getting into the rental business should take the news as a sign to strike while the iron is hot. If you've been considering renting out your single or multifamily property, there has never been a better time to do so. With the help of a local property management company, you can hand the reins to a professional while collecting passive income from your tenants. Reach out to our team today to learn more! - Scott Safadi, Cal Bay Property Management The high cost of living in California - especially in the Bay Area - has become notorious. While it's easy to become numb to the sky-high real estate costs associated with life in this region, the black and white numbers can be sobering. A new report from the U.S. Census Bureau shows that only half of California residents own their own home.
While this figure might not come as a surprise, it does put the California rental market in perspective. As long as the average Californian family continues to struggle to afford a down payment, there will always be a healthy market for rental properties. In Santa Clara county, the median home sales price stood at $1.12 million in May. Though this signifies a cooling down of the local real estate market, it's indicative of an American dream that's too far out of reach for the average resident. For local property owners looking to take advantage of this dynamic, there are clear benefits to getting into the rental game. Because of the high cost of living associated with our region, you'll never need to look far for new tenants. Turnover in some cities is high, with young professionals and recent college grads looking for opportunities in Silicon Valley. Still, with the right resources, property owners can easily turn a profit. If you've been considering renting out your home, apartment building, or condo, consider working with Cal Bay Property Management. Outsourcing many of the most frustrating parts of landlordship can make a good decision even more appealing. Reach out to our team for more information now! - Scott Safadi, Cal Bay Property Management |
AuthorScott Safadi leverages extensive experience in the real estate industry to serve as the CEO of Cal Bay Property Management (CBPM), which he founded in Palo Alto, California. Archives
January 2020
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