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
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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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